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Here’s Why Walgreens Isn’t Fleeing America

12 | By Wall Street Insights and Indictments Staff

Despite wide expectations that it would, the Walgreen Co. (NYSE: WAG) said Wednesday that it is not moving its headquarters overseas as part of a “tax inversion” deal designed to avoid high U.S. corporate taxes.

Wall Street was not amused, lopping 14.5% off Wallgreens’ share price.

While a tax inversion would have saved it millions in lower taxes, Walgreens made the right decision.

Here’s why.

 



12 Responses to Here’s Why Walgreens Isn’t Fleeing America

  1. DEV R. SACHDEV says:

    this is the first time I heard about Walgreen. Iam anxious to learn what I make in this move. I appreciate your help and hope to work with to make some money.
    with regards
    dev sachdev, phd pe

  2. Craig Stelck says:

    Amerikah used to run just fine without the pig corporations killing jobs all over the country by running to communist slave labor countries. We consumers are so dirt stupid we don’t know the word boycott. Would someone tell me how my working class father was able to buy my clothes, shoes etc. all made here in America back in the 1950’s and sixties. How How How. Maybe we should outsource our wars and save amerikahn lives. don’t get me started.

    • crashcart says:

      I don’t consider myself one of the “we consumers are so stupid”. But I think the author of that comment is!

  3. RUSS SMITH says:

    Hi!, Patrons Of Wall Street Insights And Indictments Et Al:

    In general and in my opinion News Commentators who know more about the subjects about which they attempt to inform their public viewers need to slow down talking and allow their viewers time to digest their statements. They talk so fast among each other it’s impossible to follow along with what they’re saying effectively in my opinion. How can viewers act on any advice when it is stated so fast that it becomes garbled in the process? Most people aren’t speed readers either. Maybe the problem lies with only me but anyone else out there in News Cast Land also see it this way? Also, in my opinion, when one news anchor is talking those other news casters listening in should await their turn politely instead of constantly interrupting, because this garbles their conversations even more; especially when they each have the same or similar information background before their broadcasts which allows them to quite often instantly concur with each other anyway; while the general public remains confused as to what’s been told. Personally, I can’t follow this kind of garbled information well enough to know what’s going on in their views. Some people also drive fast but not me, because my speed is usually the speed limit which allows any highway patrolman to instantly read my speed! My chances of being heard and understood here are ridiculously poor for sure but we need a brand new normalcy bias in broadcasting that doesn’t leave out the average listener is my personal view here today. Normally, my tendency is to not listen to the news; unless it’s someone like Rush who usually talks slow enough to get his points across right or wrong. and without garbling them together through useless rapidity. Most of us out here in Hayfield County aren’t planning to want to get our news fast enough to call our select city slick broker to make a trade instantly on the direction of any news. We purely and simply want to understand the news and what it means for us and our way of life here in Hayfield County.

    RUSS S, CA. (One Of Our Broke, Fiat Money States)
    resmith1942@gmail.com .

  4. Milton says:

    SG, you make a lot of sense a lot of the time, and it should be expected since you have been in that world for so long. I am hesitant to even respond to this one yet I will push forward and do my best to make this concise. Back in the day, companies prided themselves on “being American” and having thousands of Americans working in their companies. Matter of fact, I distinctly remember slogans during the Great War praising Patriotism and being American. I am sure thousands of companies engaged in this behavior. Maybe that is not the mindset today, and apparently it doesn’t look like it, and this tax thing is the excuse we are giving for the fleeing of business overseas. Was it not enough to send jobs overseas? Was the years of brand loyalty and the American consumer dollars enough to retain some sort of loyalty back to the American consumer? Whatever is the beef between corporate America and the President, and yeah there are plenty of reasons, what is corporate America’s beef with the American consumer? The American consumer dug in and bought for as long as they could during the worst of times and they lavished the corporations with their dollars in the best of times, and these companies want to rush off with the American consumer dollar? Those companies can afford to go overseas, but can the American consumer? No! What is the American consumer forced to do when the cheap foreign goods arrive here in the beautiful United States of America when the giants of American business run off with our American consumer dollar? The corporations should keep their tax dollars here and give their consumers a prize by using the American consumer dollar to clean up these burdensome tax and regulation potholes placed in front of us all! Use the American consumer dollar to reinvest in their American consumer and the American consumer has invested in them!

    • James says:

      ARE YOU KIDDING ME!? AMERICA IS THE “LAND OF OPPORTUNITY” == NOT A SOCIALIST SHARE THE WEALTH COUNTRY WITH EVERY SCUM BAG WHO WANTS A HAND=OUT AND TO BE ON FOOD STAMPS AND WELFARE!

      THE PRESIDENT AND THE SOCIALIST DEMOCRATS ARE WRECKING THIS COUNTRY WITH EVERY TAX THEY CAN THINK OF. AVOIDING PAYING MORE TAX IS NOT A CRIME. IT IS JUST GOOD MANAGEMENT FOR SHARE HOLDERS!

      GET THE CURRENT PRESIDENT AND THE SOCIALIST (& COMMUNIST) OUT OF WASHINGTON D.C. AND THINGS WILL GET BETTER. THIS COUNTRY HAS BEEN SUCCESSFUL BECAUSE OUR SOCIETY IS BASED ON CAPITALISM AND FREE ENTERPRISE – NOT SOCIALISM AND WELFARE. POLITICIANS ARE RAPING THIS CATEGORY OF AMERICANS WITH THEIR HAND=OUTS AND WEALTH DISTBUTION )SOCIALISM). YOU WILL SEE MORE COMPANIES FLEEING THE COUNTRY IF THIS STUPID NONSENSE CONTINUES.

      • John Burnette says:

        Logically James’ comments don’t agree with history. Back when Craig’s working class dad was able to buy all those product made in America back in the 1950’s the US actually had some of the highest tax rates this country has ever seen, especially true for the higher income bands.

        At MINIMUM, if Walgreens had been allowed to move their corporate seat, Americans should then be allowed to purchase drugs from overseas and save the 70% markup.

        James, go back to watching Faux News.

        • Victoria Fabling says:

          Well said John Burnette!

          I work as a healer and holistic consultant and hear aha moments all the time when people discover that pain killers etc. are just band-aids, expensive ones at that, and if Americans tried eating nutrient dense food and noticed when they got a migraine, for example, they would not need prescriptions. Conversations which start, I better go and see my doctor, would cease and common sense could prevail.

      • Gary Semlak says:

        A typical reaction of new-born geniuses having acquired their knowledge of economics through the fiction of Ayn Rand, who rejects the notion that there are stakeholders other than shareholders that are worthy of a hearing before making important decisions. How many heroes died on the battlefields to protect Americas business interests? Walgreens doesn’t want to pay taxes for that? No shame!!

      • Sailor Jo says:

        OMG!
        This country is half socialist and half predator.
        Free markets exist only in garage sales, everything else is rigged. So go to your capitalist church and pray for the return of the robber barons.
        Please pray loud, like in capital letters.

  5. D.R. Alarcon says:

    I voted wt my dollars years ago when wallgreens fired a pharmacist for his act of self defense. I dont care for their bsn. Practices or value aystem, not spending my money there is how I show it.

  6. Ellis P Pascual says:

    SG: I’m glad for your comment on how those journalists just garble their words, at the same time as the other person is talking. They don’t seem to care whether we understood a word they said. Useless effort on their part. You surely read our minds, SG. Here’s hoping those journalists read our complaint.

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