Apple Exec Stashed $150,000 In Shoe Boxes 345
angry tapir writes "US federal agents found more than US$150,000 in cash when they searched the house of Apple manager Paul Devine earlier this month, according to prosecutors. 'He had over $150,000 stored in shoe boxes,' Department of Justice Attorney Michelle Kane said. Devine was charged two weeks ago with taking kickbacks from Apple suppliers."
Mattress! (Score:2, Insightful)
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Mattress or Shoe boxes, either one is safer than a lot of banks or investment firms these days.
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Now when you have a ~5% devaluation rate on your paper, due to the Private Central Bank running the printing presses like mad. $150,000 today... $142,000 next year... $135,000 the following year... and so on.
By 2020 your mattress or shoebox stash will be worth just $89,000. You're better off to put the paper in the bank where the 5% devaluation can be offset by a 1-2% interest rate.
Of course, we don't actually have that (Score:3, Interesting)
Inflation is currently running more like about 1% per year, has been in that neighborhood for quite a while, and there's reason to believe that we could be entering a period of deflation. And your typical passbook savings is paying a fraction of a percent in interest. So, while there are still a lot of good reasons to keep money in the bank (if your house burns down, your cash is gone... but if your bank burns down, your money doesn't. FDIC insurance. Etc.), the rate of return vs. inflation isn't really one
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>>>the value doesn't depreciate. It's still $150,000.
False. $150,000 cash in 2010 will buy you a medium-sized house (or a new Ferrari). $150,000 cash in 2020 will only buy one-half a house or ferrari. What changed? The paper lost value. Put another way:
When my grandfather was my age (in the 1920s) a nice wool suit only cost $12. Today a wool suit costs around $400. Again: It's not the suit that changed - a wool suit is a wool suit. It's the paper that lost value.
Paper money depreciates o
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The wool suit did change. It is more comfortable, better made and far less people are buying them. The value of wool suits is far more impacted by those things than the value of the dollar.
Just like cars, in the 70s you could get a new car for less than a used one today. Yet, even a used 2000s car would be a far better value than a new 1970s car. There have been huge changes in safety, horsepower and mileage. Just picking arbitrary goods is not a good way to check the value of money.
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Re:Mattress! (Score:5, Funny)
...The banana stand?
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There's money in the banana stand.
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He would have gotten away with it by using an apple product box, but they were too small to hold all that cash!
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Think different!
Introducing the... (Score:5, Funny)
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That would be an awesome name for an Apple-themed porno...
Re:Introducing the... (Score:5, Funny)
iMbezzle?
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More like iMbecile...
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heh.
I was thinking the "iCell."
Re:Introducing the... (Score:5, Funny)
He could have used the money to buy a Macbook Pro. If you max out the specs they come out pretty close to $150k.
No app for that? (Score:5, Insightful)
Seriously, if this guy was socking cash back and wanted to hide it from the feds, why didn't he think of better hiding places?
Heck, just watching the Sopranos would give you some better ideas for cash placement than shoe boxes all over the house.
Re:No app for that? (Score:5, Interesting)
Perhaps he just didn't think he would get caught since the money wasn't going through banks. After all, that's pretty much what I would do. Actually, that's where I would start. Then I would probably set up some sort of business, accept "cash payment" for whatever services rendered and then pay some taxes to make it all look legitimate. I know... that just makes too much sense, but then again, I believe my greed has limits where many others' does not.
Re:No app for that? (Score:5, Informative)
Perhaps he just didn't think he would get caught since the money wasn't going through banks. After all, that's pretty much what I would do. Actually, that's where I would start. Then I would probably set up some sort of business, accept "cash payment" for whatever services rendered and then pay some taxes to make it all look legitimate. I know... that just makes too much sense, but then again, I believe my greed has limits where many others' does not.
Ah, er, hey old article, help me out here... "The alleged scheme used an elaborate chain of US and foreign bank accounts and one front company to receive payments, the indictment said, and code words like 'sample' were used to refer to the payments so that Apple co-workers wouldn't become suspicious."
Sounds like he thought of everything except what to do with the money once it was in his hands. What ever happened to burying it?
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I would probably set up some sort of business, accept "cash payment" for whatever services rendered and then pay some taxes to make it all look legitimate.
Ironically, this is how Apple started...
Re:No app for that? (Score:5, Informative)
People lacking a significant criminal background ALWAYS tend to be stupid when it comes to hiding cash. Especially once you reach a certain amount where hiding it within your house requires multiple hiding spots. Wall sockets, light switches, and inside of old, large electronics (CRT monitors, VHS players) with difficult-to-remove siding are all viable home storage locations. Then again, it really depends on what your goals are. If you want to hide money so well that no one will find it, get some custom furniture with places to hide cash that can be built around the cash, so the couch (or table, sometimes) must be physically destroyed to access it.
Most people who store lots of cash tend to be stupid about it. They place it in a location that is difficult for them to get to, say, under some boxes, or in the back of the closet. Thing is, someone who wants that cash couldn't care less about what they destroy in the process to get it.
/tinfoil hat on/ Ideally, to hide large sums of cash in your home, you need to determine what percent must be easily accessible, accessible, and largely inaccessible. Easily accessible means that it takes you less than a minute to get to it. A 500 count jar of advil is a great place to store a roll of cash, and then pour the pills back over it. (Also have some underneath). Food containers also work well for this (Cereal, milk jug, etc).
For accessible, but not easily so, you have more options. Generally, this category can fall into "Things with screws." As previously mentioned, a CRT monitor or VHS player with removable back/side/bottom works wonders for hiding things. My favorite was a radio receiver from 1980 that went with some other stereo equipment. It had 6 screws on the bottom, and there was a thin space for hiding something flat between it and the circuit board. The panel was slightly smaller than the gap, too, so you could see the circuit board 1cm away, but the panel was big enough to hide any cash. Another great place is to take your door off the wall, remove the hinges (from the wall) and drill into that area. It is easy cut in deep enough to store something. Lastly, most light switches or wall outlets have a small gap in the wall, which is perfect for storing a roll. Oh, and also, a favorite: Get 2 fairly large cuts of prewrapped meat at the supermarket, and unwrap them. Throw 1 away, and keep the white bottom tray. Put some cash between that tray and the other one (with the meat on it) and then press the edges together, put the meat back on top, and then wrap it really tightly (even better to reuse the wrap it came with) and then throw it in the freezer.
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You know perhaps just a tad too much about this subject. Hiding from the government?
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Precisely what I was thinking.
Hmmm, this guy seems to know a lot about where people hide their cash
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I especially liked the distinction he made between secrecy and access, which really is the crux of the matter. It's trivial to secure anything against anyone if you really want to (chuck in a waterproof safe then drop into the Mariana Trench for example), but the problem is there's always at least one person who needs access, and that's where security gets complicated.
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Good advice, but your stereo equipment idea fails the "would someone steal it even if not looking for hidden loot" test... A great spot I would add to the list (not that I have anything to hide, ahem) is the underside of just about any heavy furniture like a hutch, dresser, entertainment center, etc. If it's not already boxed in, a few pieces of masonite can make it look like it was meant to be that way, and a few furniture sliders on the bottom can make it easy to get to the back, while the wood tacks tr
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You've been watching too much Burn Notice... (jk, you can never watch too much Burn Notice)
There's always money... (Score:5, Funny)
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Steve Jobs? Is that you?
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The amount of thought you have put into that is a little unnerving. Any bets on how long it is before he gets a special visit?
Re:No app for that? (Score:5, Funny)
Re:No app for that? (Score:4, Funny)
The amount of thought you have put into that is a little unnerving.
Well, he probably didn't use these techniques to hide money, but merely to hide pron for his mom.
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Or, buy gold, and hide that. Gold can easily be concealed. Coat it in lead and it's a fishing sinker, wheel weight, or plumb bob. Pull it into a wire and coat it in tin and it appears to be solder. Make pipes out of it, paint it, and attach it to your plumbing system.
Re:No app for that? (Score:5, Interesting)
(posting as AC for reasons that will become obvious)
BZZZZT! wrong!
I have to take exception to several of your suggested hiding places. I used to BE a thief, I've commited B&E on dozens of homes in my mis-spent youth and in most cases, I was not alone. I can tell you that the image of the stupid, poor, stupid, lazy and stupid urban youth boosting your shit to buy drugs is bang on. (did I mention stupid?) Back when I was breaking into homes, I was looking for the following (in order) drugs, cash, non-custom and non-monogram jewellry, easily fenced/bartered electronics, meat, especially roasts, steaks etc, and finally lingerie.
Here's the logic behind each:
Drugs: well duh! you'd be amazed at the number of homes we found worthwhile quantities of weed in, and trust me, druggie thieves develop a good sense for where you're likely to keep your stash, since you're likely to be stupid and lazy about hiding it too. Even if we find something that we have no interest in ourselves, we always know someone who'd be happy to take it off our hands.
Cash is obviously the least traceable, most fungible and most value-dense item there is.
Jewellry, it's a lot harder than the media would have to believe to find a straight out-and-out fence, and even when you do, they never give more than a small percentage of the actual value.(5% would be generous) That said, there is usually a friend or a local drug dealer who is interested in buying your swag as gifts for the girlfriend, or more likely, taking in trade to cover your drug tab.
Electronics: Back then it was all about component stero systems and this new high end format called CD, even if I didn't know anyone who would buy it, plenty of guys would just take it home for themselves. Again, there is often a buddy or drug dealer who will barter with you. The thief may not find your stashed cash, but you're still out both cash and stereo aren't you? Back then video game cartridges were guaranteed to walk out the door with us, except for Donkey King 'cause everybody already had that one.
Meat: meat is an expensive, value-dense item. A lot of these guys practically live on "pogie-bait" and have a girlfriend and some bastard kid(s) to feed. Every 20$ he can shave off the food budget is another dime bag or rock he can score for himself. Besides, the freezer is one of the best places to look for cash... "Bringin home the bacon" is also a good way to shut up that nagging bitch and convince her you are actually providing for her and the brat(s)
Thieves are lazy, we almost never steal your furniture 'cause it's fucking heavy! Unless you got yourself a new or almost new black leather sectional or something, we ain't going to touch it. (I've never undertsood my fellow scumbags fascination with leather furniture and brass n' glass accent furniture as a status item) The safest piece of furniture? that ratty looking sofa couch you have in the spare room.
One last thought: a lot of thieves will just fuck you over on anything they can't steal. i.e. too much meat in the freezer to steal? we'll just unplug it. Take a shit between your mattress and box spring, Scrub our anus with your toothbrush, jerk off in the ladies lingerie. (that which we haven't crammed into our pockets as a gift our own girlfriends.) Whatever sounds like shits n' giggles to the druggie at the time. So don't stash any cash in easily breakable/vandalized items. I've *seen* grandma's ashes get flung all over the living rooms white shag carpet just because, so her urn is not a good hidie-hole.
My recommendation for a hiding place? Take off the toekick of your kitchen lower cabinets and replace the nails with super magnets and metal plates. There is a phenomenal amount of space for cash, guns whathaveyou and no thief would waste enough time in the home to get around to checking that.
This is useless for hiding anything from the authorities of course. For them it's not a value vs effort thing, if they suspect you have something hiding in your home, they can take as long as they want taking things down to the bare studs, even x-raying things if they think it's worthwhile. Nothing within your legal property lines would be secure.
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When you store money to store it, you use 100s. My VHS player could hold 200 bills. My radio holds 50. Wall outlets are generally good for 100. Light switches 25 or so. Jars of pills can do about 100. Freezer wrapping tricks can easily get you several hundred. Door hinge spots are good for 100. Cereal boxes are good for several hundred (tho I'd never use more than 50 in one) and the meat freezer trick is ~50.
Disclaimer: I get all this info from watching TV shows like to catch a thief and Burn Notice
So, to t
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And which of those will not tell the person I share a checking account and credit card account what I bought?
My wife and I have joint banking accounts and joint credit cards, but we also have credit cards in our own name. This is something you should do too, and a very good idea - If something happens to your account (robbery, for example) you still have access to a backup card. When I was pickpocketed in Barcleona our joint-card was cancelled, but we were still fine. Ditto ATM cards. You should ea
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The problem with that much cash is that it is hard to launder. US Banks would leave an easy trace. Presumably he did not get all the money at once so routine trips to the Cayman Islands would appear suspicious. Trips to Switzerland may appear less suspicious but the Swiss banks used to be very discreet. With US branches these days, some of the larger ones like UBS Warburg are hesitant to hide money from the US government for risk of prosecution.
That's why there are whole criminal industries that deal w
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Oh, I don't know. I seem to recall an episode where Tony was stashing bricks of cash in planters and various places around his house.
That's not very far removed from a shoe box. :-P
Silly prosecutors (Score:3, Funny)
Home Banking at its best (Score:4, Insightful)
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There are a lot of reasons to not trust banks... at least not with your ill-gotten-gains. The government has easy access to that data and they know how much you get paid by your employer.
Re:Home Banking at its best (Score:5, Insightful)
Even so, storing loot in shoe-boxes is not the action one would expect of an innocent man.
Humbly beg to differ, for two reasons.
First, there are plenty of people who, for whatever reason are hoarders and/or don't trust banks. That doesn't make them criminals.
Second, and more important: it's not (yet...) illegal to possess US currency. Period. Fuck the "it looks suspicious so it must be illegal" jackasses.
Now, if a valid search warrant, including some phrase like "evidence of unearned wealth" is in place, then there's an excuse to impound the cash.
Not guilty??? (Score:2)
Devine pleaded not guilty to the charges last week.
Oh my. I would love to hear his excuse for this. "What? Doesn't *everyone* keep a few hundred thousand dollars in shoe boxes? My financial planner told me to diversify! Those Swiss bank accounts were for storing cheese!"
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A friend of mine told the story of his grandfather hording cash. Seems his grandpa was the mayor and, well, you get the idea. The cash was kept in a cabinet in the kitchen.
One day grandma comes home to find him and grandpa playing monopoly with real money. She was not amused.
Re:Not guilty??? (Score:5, Funny)
We probably have about $150,000 in shoeboxes in my apartment. Unfortunately, they're in the form of my wife's shoes.
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Well, if you're willing to call $150,000 "a few hundred thousand", then I guess I shouldn't bother drawing attention to detail, but...
Having a supply of cash, even a very large one, is not illegal. Today it is uncommon (but it wasn't always), and so today it appears suspicious to most people; but it doesn't really add anything to a case against him.
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It does when civil forfeitures are the norm.
Yay for abusive cases for in rem jurisdiction.
United States v. $124,700 anyone?
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He has to go work for the Microsoft product development group.
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he's not the brightest... (Score:5, Insightful)
There are lots of ways to securely stash cash. shoeboxes under the bed are not one of them. a run to home depot for a post hole digger, some PVC pipe and caps = a money safe the feds wont find.
Although this guy does not look like the type that knows how to run a complex device like a shovel.
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I had similar thoughts. We Slashdotters suck at money laundering.
Re:he's not the brightest... (Score:5, Funny)
More generally, we Slashdotters suck at laundering.
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Re:he's not the brightest... (Score:5, Interesting)
There are lots of ways to securely stash cash. shoeboxes under the bed are not one of them. a run to home depot for a post hole digger, some PVC pipe and caps = a money safe the feds wont find.
Small gold coins are much more waterproof. Being able to find with a metal detector, is a double edged sword.
Re:he's not the brightest... (Score:4, Interesting)
Small gold coins are much more waterproof. Being able to find with a metal detector, is a double edged sword.
You could always go with precious gems, they are both non-metallic and waterproof.
However, PVC would work just fine for paper money. You seal the end caps with PVC glue and include some desiccant material in the pipe to dry up any traces of moisture. Cloth packets filled with activated carbon which have been dried at low temperatures in the oven works very well at adsorbing moisture, volatile organics, it'll even suck up some of the oxygen in the tube.
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Of course then the neighbors start wondering why he's burying pipes in his backyard.
Disguise it as a legitimate home improvement project though (like putting up a fence) and you might have a winner.
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There are lots of ways to securely stash cash. shoeboxes under the bed are not one of them. a run to home depot for a post hole digger, some PVC pipe and caps = a money safe the feds wont find.
Assuming you paid for your purchases with cash (small denomination, circulated bills) and disposed very securely of the receipt. And made other, more obvious purchases to explain the trip to the home-improvement place and the tools. Like, maybe, putting in your own fence.
Then it's a matter of digging your stash wher
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But you still need to get to it when you need it.... Going out to the back yard to get some cash for a car or shopping spree may get obvious over time or leave definitive traces of your location.
Buried in the 1/2 crawl would be good... That way it is under the house.
loose brick is good... again, inside of the house, hopefully not too obvious it is loose.
The real problem comes from the cash being stashed at one location that you have to revisit to gain access to it. If you end up on the run, you can't alw
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never said it was in MY back yard.
all I need is the list of Latitude and longitudes and a GPS.. on the run... I can stop by that $10,000 drop in the national forest to grab some traveling money...
Re:he's not the brightest... (Score:4, Interesting)
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Wait though - so you take your cash, put it in a pvc pipe and cap off both ends... then bury them all over the yard?
Then during the search, the police stumble across what appears to be a dozen PIPE BOMBS buried under a few inches of dirt all around your house.
I think I'd rather they just find the money than bring in the bomb squad and hit you with those charges.
Buy a shovel you lazy bastard (Score:2)
Shoeboxes in your house? Wow, that's the least amount of effort he could possibly muster.
Everyone knows you're supposed to bury treasure boxes!
It was actually a simple mix up... (Score:5, Funny)
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That's a gross amount of shoes.
Where should I keep my ill-gotten gains? (Score:2)
So...I need a place to keep all this money safe. Yep. Nice and safe. A safe place to keep it hidden. Someplace...safe...
OH! A shoebox! Brilliant!
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You know, it's not that far-fetched. I've certainly known people who keep a stash of cash scurried away in an obscure corner of their house in case of emergency.
I've certainly heard stories about people keeping money mattresses -- although, it didn't work out so well for this lady [timesonline.co.uk] who threw out her mother's life savings. :-P
Inflation (Score:5, Informative)
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That's true in inflationary times. We are not in inflationary times however.
Even large well-run companies are holding tons of cash right now.
Re:Inflation (Score:5, Insightful)
Re:Inflation (Score:5, Insightful)
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but how does that compare with taxes on that much money, considering this guy's tax bracket, if he were to just have it in savings?
tho of course good investments would be the place to put it. but most of those are tracked. Pretty much anytime you have taxable income anywhere, be it savings or investments, someone's going to catch you.
I see his mother put up the deed to her house for his bond, for whenever he manages to meet the judges's requirements. (specifically, that all money he stashed in foreign acc
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One of the problems with stashing $150,000 in cash is that you lose some $4,500/yr (or more) due to inflation.
Perhaps, but for some losing 4500$/year is better than losing 150 000$ when your assets are frozen during an investigation.
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Falling home prices and lack of people willing to purchase big ticket items are giving the illusion of deflation. The government is still printing more money and if you look at the costs of basic goods, such as food prices, they are going up. Eventually the fed is going to owe too much and their likely way out is to just print more money. That's what they are doing now.
That being said, the reason why you keep that much cash around is for emergencies or uncertainty. Right now we have a bunch of cash at h
"kickbacks"? (Score:5, Insightful)
from TFA:
Prosecutors say that Devine shared confidential information on Apple products such as the iPod and iPhone in exchange for cash kickbacks. He allegedly provided suppliers with projected sales figures, data on how much it cost Apple to produce the products, and pricing bids from supply chain competitors.
This looks a lot more like "corporate espionage" than "kickbacks". I usually consider kickbacks to mean that he accepted bribes from clients for favoritism. But this guy was basically getting paid to spy on his employer and provide intelligence.
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If this is actually the case....is there an actual CRIMINAL law against letting out company information for $$?
I mean, sure...he's likely open to civil lawsuit from Apple on his doing this, violation of NDA's..etc, but is there an actual federal/state law making
Not Uncommon (Score:2, Interesting)
Paul Devine is now in good company. (Score:2)
You didn't hear this from me.... (Score:2)
Quite a few paid in cash. Normally not unusual at all. But these people were paying with the exact amount needed (even accounting for tax) and with clearly uncirculated bills. They were also the ones that seemed the most vocal about how
Shoe boxes? (Score:2)
I use those old metal CD cases you buy at Wal-Mart. Much neater and you can hide them in odd places.
Re:Slow Day for Negative Apple News? (Score:5, Insightful)
More so, this is kind of a big deal in the geek and tech industry. If this doesn't qualify as news than I have absolutely no understanding of the word. I would say that the employee of one of the top tech companies being caught in a scam where he made off with over $1 million dollars is quite certainly news for nerds and stuff that matters.
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More so, this is kind of a big deal in the geek and tech industry. If this doesn't qualify as news than I have absolutely no understanding of the word. I would say that the employee of one of the top tech companies being caught in a scam where he made off with over $1 million dollars is quite certainly news for nerds and stuff that matters.
I think Microsoft caught an employee a few years ago who bought software from their employee's store really cheap (and not things like Windows, but the more expensive server software with tons of licenses) and then sold it. That ran into multiple millions of damages. I could imagine his "customers" believed that they were buying from Microsoft.
But Now They're Just Another Corrupt Company (Score:5, Insightful)
Um, I hate the obviously anti-Apple news as much as the next Apple fanboi but this is hardly negative Apple news. In fact, I can't find even a vague hint of anything negative being directed at Apple in this situation.
That's odd, this story causes me to wonder how much corruption is rampant at Apple if we scratch the surface and find shoe boxes with cash ... whatever the case here in the US, this certainly illustrates the growing problems that Apple and many other companies are having with foreign counterparts guilty of "when in Rome" infractions against ethics and business.
I used to think "Made in America" when I bought an Apple product. Then after realizing it was all coming from Taiwan and China I thought "Invented in America, Made in China" but I still imagined this premium I was paying lead to good American ethics and proper treatment of employees to consumers. The deaths of nine or more plastics workers in Apple's iPhone supplier followed by a million in kickbacks being stored in shoe boxes by a corrupt Apple Manager and suddenly I realize that buying Apple just means you're paying a premium on something that might provide you a better experience but really employs all the same corruption inherent in almost any very large business.
While I'm not faulting Apple anymore than -- say -- Samsung or Sony, they've dropped from high standards of worker and consumer ethics all the way down to 'one of the rest.' Maybe they're simply too big to control that now but you better believe this is negative to someone like me. I've only ever bought (to my knowledge) iPod shuffles as gifts and a single exclusive album on iTunes but you won't catch me buying anything else from them for a while.
Re:But Now They're Just Another Corrupt Company (Score:4, Insightful)
The deaths of nine or more plastics workers in Apple's iPhone supplier
Who is also the same supplier of Dell, Microsoft, Logitech, HP, Intel, etc on and on. Why do you only single out Apple out of all of Foxconn's customers?
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Then after realizing it was all coming from Taiwan and China I thought "Invented in America, Made in China" but I still imagined this premium I was paying lead to good American ethics and proper treatment of employees to consumers. The deaths of nine or more plastics workers in Apple's iPhone supplier followed by a million in kickbacks being stored in shoe boxes by a corrupt Apple Manager and suddenly I realize that buying Apple just means you're paying a premium on something that might provide you a better experience but really employs all the same corruption inherent in almost any very large business.
Did you know that the rate of those suicides was significantly less than the rate for China overall? So working for Apple actually DECREASES the suicide rate, who'd have thought!
Here's an article [labornotes.org] on the subject. In it we learn that Foxconn employs over 1/2 million people and have had 12 suicides in the past year. Lets extrapolate that to 24 in a calendar year, the article wasn't specific on what they meant by this year, that's a rate of less than 1 for every 2,000 workers. The national average for China is
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Isn't it enough to be proud of buying something carefully designed in America, regardless of who manufactured it?
Pride- sure, but that's not the topic at hand, which is all about jobs. Saying "buy American" about Apple is pointless since the majority of Apple-related jobs lie in manufacturing, and those are neither unavailable to American workers, nor favor using American resources [wikisource.org].
Or heck, just to be happy with something well designed at all, regardless of origin. A well designed product counts as a win for the human species, I would say, since it serves as a model and an example anyone can follow.
That's an interesting way of thinking but the fact is we're in a world where international economic competition matters to individuals (in jobs and standard of living), and "an example anyone can follow" translates easily into cheating thr
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This isn't an anti-Apple story beyond some insight into some possible HOWs and WHYs regarding how secrets get leaked, suppliers get selected and how clone devices get designed and produced so quickly. Having increased knowledge of how the supply and manufacturing of [in]famous gadgets get handled is certainly of interest to me!
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I thought Apple employees stopped doing coke in the 80's... now they're doing it in Starbucks?
Re:can't trust banks anymore (Score:5, Interesting)
Oh so many jokes, and rightly. But. I will say this - even if you've made money legitimately, I'd say there's good reason to keep a little cash on hand. It's rare, but not unheard of (especially in recent years) for banks to fail. If I had a million or more, I think I'd like to keep 100,000 or so available as cash on hand, in case the rest of my money either got frozen temporarily (e.g. while the FDIC or other government or law enforcement agency takes over the bank and does an investigation), or disappears forever.
I don't think, however, I'd keep it in shoeboxes. Safe vaults were invented for a reason.
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Doesn't anyone know how to launder money any more? Steal way more money than you need, run it through some partially legitimate business, take part of it as profit from the business, but be able to keep the remaining result in a bank.
Scratch-off lotto tickets clear darn near 50% rate of return. I've seen this first hand a couple decades ago working at a small town food store. Elderly guy buys $500 of lotto every freaking day... that's about 200K dirty in for about 100K clean out annually. Couldn't think of any other explanation for how he could finance his endless purchases.
Re:Dear Slashdot... (Score:4, Funny)
Sir, I am an exiled Nigerian prince who needs some assistance in a financial transaction . . .