STOCK MARKET WATCH -- Monday, 13 May 2013

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8. LEAVING BANGLADESH? NOT AN EASY CHOICE FOR BRANDS

http://hosted.ap.org/dynamic/stories/U/US_BANGLADESH_RETAILERS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2013-05-12-14-06-59

NEW YORK (AP) -- Bangladesh offers the global garment industry something unique: Millions of workers who quickly churn out huge amounts of well-made underwear, jeans and T-shirts for the lowest wages in the world.

But since a building collapse April 24 killed at least 1,100 garment workers in Bangladesh in one of the deadliest industrial tragedies in history, the country has gone from one of the industry's greatest assets to one of its biggest liabilities.

"The risk factors have jumped off the charts," said Julie Hughes, president of the U.S. Association of Importers of Textiles and Apparel, a trade group that represents retailers who import garments. "This is worse than what anyone had imagined."

Working conditions in Bangladesh's garment industry long have been known to be grim, a result of government corruption, desperation for jobs, and industry indifference. But the scale of this tragedy has raised alarm among executives and customers.