I hope you enjoy the cost of your Big Mac in Switzerland I hear its $7.80 for just the burger.
As for the Swiss military they don't work weekends and your effective tax rate as a citizen is over 50%.
Enjoy your new country.. I'll stay here and shop in American business.
Thank you very much..
Walgreens elected Board has provided failed guidance over the last 5 years!! when will this end?
Walgreens Board of Directors are to work on the behalf of its shareholders, yet this Board has no accountable to these same shareholders.
Look at the miss guidance they have allowed,
1) A contract dispute with CVS that caused a loss in full Rx participation: of CVS full PBM offerings.
2) The Sale of Walgreens PBM unit.
3) A 2nd contract dispute with Esrx another PBM that cost billions.
4) Losing Tricare as a customer
4) Dissolving Walgreens drug Wholesale unit, for a quick fix to operational costs.
5) A DOJ 80 million dollar operating fine and a pleading of guilty of drug diversion .
6) A Multi billion dollar merger that projected revenue growth that now is taken down.
7) The sale of Walgreens Corporate HQ real estate among other operational assets
8) The potential dissolution of Walgreens operational charter and reincorporation into a tax haven.
9) A future crisis of Government participation in USA Rx bid contracts
10) Customer protests with several leaving Walgreens Rx service.
If these decisions are the common beliefs and views shared in this boardroom, Walgreens strategic risk guidance needs some serious help.
Jim Cramer recently did a promo piece on Hertz saying its a Buy.
This is what he said about the Red Flag on Accounting.
"several tax lawyers have assured me these specific issues were very minor."
Well if there are so minor why are Hertz's financials still not released?
as for Cramer's tax lawyers views perhaps they should put this view in Writing..
Walgreens shoppers have taken to the media to express their views on Walgreens moving to avoid paying it fair share of taxes in the USA and the news is not good.
Walgreens has reported a continuing decline in shoppers visits every month and now this.
Most investors know Walgreens got the boot from the ESRX decision, and now it has picked a fight with the USA Tax policies and its customers.
As many of its customers have written on media sites, Walgreens will soon see the next wave of customers defecting to other retail outlets,
And peeps invest in this management....Geeez
Are you Still on Walgreens payroll,?? I guess your Department has not received the notice.
Kermit retired, and your Department will soon follow.
Stefano Pessina the single Largest Stockholder in Walgreens understands Nuclear fusion and the reaction
effects created if left unguarded.
Alliance Boots Leveraged buyout move to Switzerland was needed to repay debt for this company to survive and grow.
Unlike the failure in executive leadership at Walgreens Co. who has engaged in Financing engineering and asset stripping for the last several years to reward themselves, and who now looks to leave the USA so they can Keep their overpaid Executive Jobs by moving into a loophole that makes Walgreens earning look better to its Investors.
Mr. Greg Wasson CEO of Walgreens and his board of Directors has brought this USA Government uproar upon themselves, in not minding Walgreens core business, his resignation and others should be handed into Walgreens stockholders vote yesterday.
Should Mr. Pessina become Walgreens new CEO and Executive director, I believe he understands the social economics in creating a growth culture from a strong economics base.
And I believe Mr. SP would enjoy leading the USA into the Global Rx leader he works for..
Should Walgreens complete the merger with alliance boots it will need to borrow money, that cost is tax deductible.
They also will buy back shares with borrowed funds also tax deductible on interest.
As Alliance boots is highly leveraged and cant really borrow much money, where do you think Alliance Boots Walgreens will find money for expansion,??
Debt will be added onto Walgreens balance sheet there by decreasing their USA taxes.
This savings will be spent outside of this country and not brought back.. its called asset stripping.
I think you are being too forgiving into how financial engineering works..
I have no problems with global expansion but using tax deductible loopholes with USA earnings, to pay for new global revenues never to be returned needs to be corrected.
3) Umleitung tax Pharmacia
Walgreens will soon be releasing its decision on a Corporate relocation..
In doing so a New name for the Controlling Company will emerge.
Can you add to this list of Corporate Name Choices.
1) Loophole Pharmacy & Druggist
As Walgreens is Working on Reincorporation oversea, A Harvard professor and legal tax expert Calls on President Obama to enforce tax rule Section 385, this" empowers the Treasury secretary to set standards for when a financial instrument should be treated as debt, eligible for interest deductibility, and when it should be treated as ineligible equity."
"If a corporation has loaded debt into a U.S. unit beyond a certain level, Section 385 could be used by the government to declare the excess as equity and ineligible for deductions."
As Walgreens will take on additional debt after its inversion and Write this off, Tax tools are in place to make this costly to Walgreens bottom line..
Gregory D. Wasson
President and Chief Executive Officer
108 Wilmot Road
Deerfield, IL 60015
Dear Mr. Wasson:
Recent reports indicate that Walgreens plans to buy the remaining 55 percent stake in Swiss-based retailer and wholesaler Alliance Boots so it can claim domicile abroad and dodge U.S. taxes. Given how much of Walgreens’ revenue comes from U.S. taxpayers and how much U.S. taxpayer-funded infrastructure Walgreens relies on to support its business, I strongly urge you and the board of directors to reconsider this move.
Walgreens has been in Illinois for its entire 113-year history. Its stores are a staple in our communities. Families have come to rely on the many goods and services available in your stores, including access to prescription and over-the-counter medication.
Customers have many choices about where to shop and where to have their prescriptions filled. I believe you will find that your customers are deeply patriotic and will not support Walgreen’s decision to turn its back on the United States. Nearly all of your $2.5 billion in profits earned last year were from sales to U.S. taxpaying customers.
Walgreens could dodge an estimated nearly $4 billion in taxes over the next 5 years, if your company inverts. I recognize that potential windfall in profit is an attractive option for shareholders. On the other hand, much of Walgreens financial success was built on programs and infrastructure provided by the U.S. government and paid for by U.S. taxpayers. The future success of Walgreens will continue to depend on U.S. taxpayers and government-funded programs, yet Walgreens will be using a clever tax dodge to avoid paying $4 billion in US taxes
Further, it is not clear to me how you can in good conscience build a profitable company using these public assets and then organize your financial holdings specifically to avoid paying taxes on those profits.
Nearly 25 percent of Walgreens profits were from U.S.-funded Medicare and Medicaid pr
Walgreens enjoy your new home, we in the USA will enjoy shopping in an American store
Sentiment: Strong Sell
After all the cuts to meet earnings with cuts, the last and only lever left to pull in meeting projection is Inversion.
After this lever is pulled there is nothing left to use to meet earnings projections.
That is why the 2012 projection has been pulled down.
Who has done the Tax saving calculations for Walgreens are the Wall-street
financiers. so your gotcha needs to be address to this group who will be funding the second step of the Alliance boots merger.
4 billion is the number they put on USA tax saving with a inversion.
And these folks are now increasingly Concerned about the revenue guidance put out by Walgreens and Alliance Boots in 2012 when they made a funding commitment.
Now CAGR(compounded AGR) has been tracking below projections and have been redacted for guidance as announced by Walgreens CEO and CFO.
In order to meet CAGR.. changes need to be made in Walgreens operations, cost structure and cash on hand.
That CAGR was discussed in the Paris meeting with Walgreens and AB.. a meeting that have never been reported to the rest of Walgreens shareholders.
Will this inversion benefit Walgreens in the long run, some folks don't think so as Wmt, Cvs, Rad and other retailers will use this against them in marketing to the USA medical insured customer..
It also might bite them with the PBM's that have mail order options..
So risk has increased for the stock holders..
So sending 17 billion of USA taxpayer funds to a Country that depends on the USA under Nato is fine ..
And stripping USA assets though debt is OK too.
And lets not talk about the USA spending under the ACA Healthcare that is putting the USA on par with this tax haven and every other industrialize nation to provide service for its citizens, that is not important.
So Switzerland manufactures Cheese from the USA's Wall-streets cows and then wants our support when Russia intrudes its air space.
Oh, how about USA education and research spending , we don't need that also.
What we need is lower taxes on Corporations, those poor folks who fly in private jets, stay in luxuary hotels eat lobster or steak and attend business meetings to pound there chests while playing a round of Golf..
all tax deductible under GAAP.
I pay my USA taxes and don't try to become an expat and taking USA workers money.
Another problem has emerged for Hertz , this has not be reported to the SEC yet for a extention in filing.LOL
As Hertz is working on producing its Financial reports.. a alligator came along and ate the dog that ate Hertz financials.. LOL..
Well perhaps the SEC can get this report before 2015..
All foreign based Corporations pay some taxes in the US made on profits less debt..
What they do not pay the USA in taxes on is FOR the profits made away from the USA shores.
these profits go into the country where they are incorporated.
This is why debt is loaded on the USA subsidiary, Debt is deducted from earnings under GAAP rules.
This provides more cash/leverage going into to the tax haven Country.
re read the tax profits example..