Now you're just being a jerk. It is very common to close some stores after acquiring a competitor (like Super D). There will be stores overlapping a geographical area and it's far more efficient to fill 500 scripts at one store, than 250 scripts each at two stores. I once worked for Super D and in Memphis Super D and Walgreens were often within a city block of one another. CVS has a long history of that type of maneuver as their growth has been mostly through acquisition while Walgreens growth has been mostly organic over the years. It's only in the last few years Walgreen has become more active in the acquisition arena. When you make such ignorant remarks, it makes it clear that you will do anything to run down Walgreens. Your history of posting on this board has been 99% negative for years. It has nothing to do with Walgreens giving consideration to conversion. You just find the conversion topic an easy way to attack the company. You always end your posts with that very insincere "GLTA". You're a phony!
beach, I am a veteran and a patriot. I am not an isolationist. I believe we are all citizens of the world and that our duties lie far beyond the continental 48. I have lived in several European communities for extended periods of time, including Andermatt and Lucerne, Switzerland (Shcweiz). I found the citizens of Schweiz to be generally prosperous and happy.
James Skinner, Retired Vice Chairman and CEO, McDonalds Corp. Gregory Wasson, President and CEO, Walgreen Co. Janice Babiak, Retired Managing Partner, Ernst & Young LLP, David Brailer, MD, Chairman, Health Evolution Partners. Steven Davis, Charmain and CEO, Bob Evans Farms, Inc. William Foote, Retired Chairman of the Board and CEO, USG Corp. Mark Frissora, Chairman and CEO Hertz Global Holdings, Inc and the Hertz Corp. Ginger L Graham President and CEO, Two Trees Consulting, Alan McNally,Retired Chairman and CEO, Harris Financial Corporation. Dominic Murphy, Partner Kohlberg Kravis Roberts & Co, Stefano Pessina, Executive Chairman, Alliance Boots GmbH, Nancy Schlichting, CEO Henry Ford Health System. Alejandro Silva, Chairman and CEO, Evans Food Group, Inc.
There you have it, a complete listing of the Walgreens Board of Directors. The combined knowledge and wisdom of which falls short of that provided by robbsbeach. Perhaps it would be a good time for robbsbeach to share with us exactly what his credentials are.
of posters on this board pro and con inversion, and likewise consider the remarks and lack of honesty on the part of politicians from state governments, the congress and even the president I can only conclude that Walgreen will and should go forward with plans for inversion. The most influential voice out there is that of the silent majority.
beach, if Walgreens borrows money to expand Boots, then the president has the power to disallow tax deductions on interest paid, and I think he should do so. I don't believe that scenario automatically follows inversion. That's one place where you and I differ.
That's correct sir. The U.S. government will have to come to terms with having to compete globally. They risk a continually eroding tax base and there is no legislating their way out of it. Compete or lose out!
We all know YOU have a negative attitude toward Walgreens. It's been so for years. That's why you missed the run from $30 to $70.
Obama wants to reduce the U.S. military to pre WW II levels. Do you think he will cut corporate taxes as part of that deal? Of course not. Eventually the U.S. has no choice. They will have to be globally competitive on corporate taxes or the economy will shrink.
I find it interesting that every poster who stands against inversion finds it necessary to lie to make their point. There is no "corporate traitor" involved here. Walgreens if they invert would continue to pay taxes on their U.S. operation. It's a question of whether they should be expected to pay U.S. taxes on European operations.
You are very wrong. Inversion would not change Walgreens tax liability on their U.S. operations. Why should Walgreens pay the high U.S. corporate taxes on operations in Europe?
That makes no sense at all. It's OK to change your tax domicile if you're losing money, but not if you're profitable? You can bend almost any set of facts to suit your personal prejudice. Grow up.
beach, why do you continue to misrepresent the facts? You know the facts. A corporate inversion is not tax evasion, nor is it a loophole as long as is doesn't involve misrepresenting information on a tax return or undertaking illegal activities to hide profits. You make a lot of assumptions regarding Walgreens intentions. That is neither fair nor honest. You are right there with the politicians.
Interesting comment. It makes sense, but I'm busting my brain trying to think of a reputable U.S. Firm.
You like a lot of his posts but you would like it if he did this and this and this. You must be his wife! That's exactly how mine carries on.
Yes, it can be shocking and hard to swallow, especially if you bought near the high. I believe however, that the sell-off is necessary before the stock can run higher. Patience will pay dividends (literally).
after the huge run-up in stock price over the last 60 days. I am adding this morning as I believe earnings will continue to rise rapidly and coupling that with a generous dividend makes the stock very appealing.
robbsbeach pointed that out a few days ago. It doesn't reduce the taxes Walgreens pays on the retail stores in the U.S.. What he seems concerned about is the use of questionable tactics to shift profits from U.S. to European operations. Apparently these types of tactics have been used by other companies after inversion to reduce U.S. taxes. I say, give Walgreens the benefit of doubt not to use shady accounting procedures. Most people seem to think that the inversion, if completed. would stop Walgreens from paying U.S. taxes. The air needs to be cleared on that point. The politicians need to back off. They can change the tax code or live with it. "Economic patriotism" is one of the most absurd concepts ever put forth by a reigning president.
Those are among the most ignorant comments I have read on this board. You are not a person of significance in the running of any hedge fund.