Nestle SA Reg Shs. Ser. B Spons (ADR) (NASDAQOTH:NSRGY)

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Player Avatar TRGoodvsEvil (61.31) Submitted: 7/3/2009 6:57:25 PM : Underperform Start Price: $33.88 NSRGY Score: -14.66

Evil elements:
The problem of illegal and forced child labor is rampant in the chocolate industry, because more than 40% of the world’s cocoa supply comes from the Ivory Coast, a country that the US State Department estimates had approximately 109,000 child laborers working in hazardous conditions on cocoa farms. In 2001, Save the Children Canada reported that 15,000 children between 9 and 12 years old, many from impoverished Mali, had been tricked or sold into slavery on West African cocoa farms, many for just $30 each.
Nestle, the third largest buyer of cocoa from the Ivory Coast, is well aware of the tragically unjust labor practices taking place on the farms with which it continues to do business. Nestle and other chocolate manufacturers agreed to end the use of abusive and forced child labor on cocoa farms by July 1, 2005, but they failed to do so.

Nestle is also notorious for its aggressive marketing of infant formula in poor countries in the 1980s. Because of this practice, Nestle is still one of the most boycotted corporations in the world, and its infant formula is still controversial. In Italy in 2005, police seized more than two million liters of Nestle infant formula that was contaminated with the chemical isopropylthioxanthone (ITX).

Additionally, violations of labor rights are reported from Nestle factories in numerous countries. In Colombia, Nestle replaced the entire factory staff with lower-wage workers and did not renew the collective employment contract.

From http://karim.gnn.tv/blogs/11333/Report_The_14_Most_Evil_Corporations

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