In 2017, luxury fashion company Burberry set fire to £28.6m worth of unsold gear, bringing the five-year immolation tally to more than £90m; the company routinely burns unsold goods to prevent them from entering the discount market when new lines are released.
The company says that this is environmentally friendly because the energy from the incineration is captured.
Capitalism is the best system because it produces the most efficient allocation of goods.
"Burberry has careful processes in place to minimise the amount of excess stock we produce. On the occasions when disposal of products is necessary, we do so in a responsible manner and we continue to seek ways to reduce and revalue our waste," a spokesperson for the company said.
Burberry burns bags, clothes and perfume worth millions [Ben Morris/BBC]
(via Late Stage Capitalism)
Smarter people than me have pointed out that "work-life balance" says the quiet part out loud, implicitly confirming that you stop living when you're at work. Miles Matrix's Dungeons and Deadlines makes all this much realer with acerbic wit and rockin' chiptunes. My spouse left me after five turns. (via Four Short Links)
Frontier is the bottom-rung of the top-tier of US ISPs, serving customers in 29 states. Despite enjoying monopoly control over its customers' online lives, and despite massive government handouts and a lackadaisical approach to maintenance, and despite out-and-out theft from customers, the company is filing for bankruptcy, having accumulated $16.3b in debt through mismanagement.
New York's luxury real-estate market has been in freefall for years, and now the city's super-luxe buildings are sitting empty -- even as property prices in the city remain stubbornly high, prompting 300 New Yorkers to move out of the city every day, and filling the homeless shelters to capacity and beyond.
The Nintendo Switch is an undeniably awesome gadget, pairing old-school gaming styles with modern-day graphics and functionality for a new generation of gamers. The only complaint people seem to have is that its controllers are somewhat lacking, which is why more and more Switch-enthusiasts are picking up this Gbros. Wireless Adapter that lets you play […]
More and more people are flocking to a wide variety of careers in IT, thanks mostly to the high pay, plentiful advancement opportunities, and an exciting atmosphere that offers new challenges every day. The only problem is that this high demand means competition can be fierce if you’re entering the job market for the first […]
Going to the beach is almost always an enjoyable experience, but trekking back through your house on the way to the shower can leave a trail of sand the quickly saps the day of its sunny fun. Thankfully this BeachBox: Portable Shower & Storage unit has you covered the next time you hit the beach. […]