"Ethically Bankrupt? Just because they put a plant in the Philippines? Grow up..."
No, not just because they "put a plant in the Philippines" - but because so doing inherently means that they pay the workers far less than the true value of the work. In other words, financial profit is made on the backs of the workers, who are desperate for jobs. To exploit this desperation in such a manner thus entitles one to the term 'ethically bankrupt'.
You're intelligent enough to understand this basic principle, are you not?