Obama wants limits on US company mergers abroad

[DonViejo]

Source: ASSOCIATED PRESS

LOS ANGELES (AP) — President Barack Obama is tapping into growing misgivings about tax-driven overseas mergers by U.S. corporations, issuing a new call to end the practice quickly and questioning the patriotism and citizenship of those companies.

The push comes amid a developing trend by companies to reorganize with foreign entities partly to reduce their tax payments in the U.S.

But Obama’s election-year drive also coincides with increased attention to the issue by congressional Democrats, who are seeking to draw contrasts with Republicans and to portray them as too corporate-friendly.

Obama was scheduled to address the issue in remarks Thursday at a technical college in Los Angeles. Though he included a proposal to rein in such mergers and acquisitions in his 2015 budget, this marks a new, more aggressive focus on the issue by the president.

-snip-

Read more: http://www.salon.com/2014/07/24/obama_wants_limits_on_us_company_mergers_abroad/

[mopinko]

1. i bet he made a call home to illinois

to rap walgreen on the knuckles before they invert.

i hope that call included the wisdom that their market share drop would more than offset their tax savings. cvs is building right next to them everywhere they can around here. they'll keep the folks that stop in the liquor dept when they get their meds. and the ones that need cigarettes. i guess that is a fat part of their market share.
but they gotta know cvs is gonna jump on their carcass.

and good riddance to them. i still remember that they stuck up for their pharmacists "objections" to plan b. till illinois outlawed that crap.

[L0oniX]

2. Being awake has its advantages.

[rhett o rick]

3. I hope this goes somewhere and isn't just election rhetoric. nm

[freebrew]

4. If corporations are people...

what percentage of shareholders does it take to make them a citizen of another nation?

At what point do the morons realize that decision gives other governments' citizens more voting power than us?

Bribing government officials used to be illegal, now it's lucrative.

[Blue Idaho]

5. I want to limit mergers everywhere. Period.

Since Reagan re-wrote the rules on business mergers we have seen more of our markets turn into monopolies. If there is such a thing as capitalism's "invisible hand" it assumes a competitive marketplace. Sadly that really doesn't exist anymore.