Amazon (AMZN) Lower; Warehouse Worker Steals Apple (AAPL), H-P (HPQ) Products, Turns Self In
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Amazon.com (Nasdaq: AMZN) shares are lower, and rightfully so following reports one of its warehouse workers swindled the company for over $150,000 in goods.
The workers choice of goods to steal was also brilliant.
According to reports out Monday, a worker at Amazon's Cayce distribution center managed to get away with stealing 726 Apple iPod touch players as well as 49 Hewlett-Packard laptops. The move was amazing in that no one would have noticed the disappearance of the iPods had the worker done a better job of thinking through his plan rather than falsifying documents.
When asking passerbys on the Street of what they though of the robbery, many responded with "Apple sells that iPod touch still?" and "People know there's an iPhone available, right?"
Well played, passerbys. Well played.
Anyway, total value on the thefts is $160,000. The worker is said to have turned himself in following FedEx Freight (NYSE: FDX) and Amazon security guards reporting missing goods to the local police.
Whether or not thefts like these are commonplace at Amazon might give investors some concern. If even only a handful of Amazon workers in the right locations are crafty enough to evade notice in "redirecting" goods from warehouses to the bank of their vehicles, that would mount substantial losses for the world's number on e-Commerce retailer.
Earlier this year, Amazon announced that acquisition of Kiva Systems, which should help it track items better as well as speed shipment times up.
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The workers choice of goods to steal was also brilliant.
According to reports out Monday, a worker at Amazon's Cayce distribution center managed to get away with stealing 726 Apple iPod touch players as well as 49 Hewlett-Packard laptops. The move was amazing in that no one would have noticed the disappearance of the iPods had the worker done a better job of thinking through his plan rather than falsifying documents.
When asking passerbys on the Street of what they though of the robbery, many responded with "Apple sells that iPod touch still?" and "People know there's an iPhone available, right?"
Well played, passerbys. Well played.
Anyway, total value on the thefts is $160,000. The worker is said to have turned himself in following FedEx Freight (NYSE: FDX) and Amazon security guards reporting missing goods to the local police.
Whether or not thefts like these are commonplace at Amazon might give investors some concern. If even only a handful of Amazon workers in the right locations are crafty enough to evade notice in "redirecting" goods from warehouses to the bank of their vehicles, that would mount substantial losses for the world's number on e-Commerce retailer.
Earlier this year, Amazon announced that acquisition of Kiva Systems, which should help it track items better as well as speed shipment times up.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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