Hi Maurice, we were just pondering on the full explications and complete implications of colonization in the context of globalization, and here, coincidentally, another company applying to colonize Bermuda (maybe Trinidad will have a chance at this globalization game before it ends):
search.ft.com
COMPANIES & FINANCE THE AMERICAS: Nabors' move to Bermuda opposed
By Peter Thal Larsen and Gary Silverman in New York
Financial Times; Jun 13, 2002
Nabors Industries, the Texan oil rig operator, is facing opposition from investors over plans to move its headquarters to Bermuda.
Nabors' shareholders, including the AFL-CIO, the powerful US labour federation, will today ask a judge in Houston to delay a vote on the planned relocation on the grounds that the company has not properly explained the tax and corporate disclosure implications of the move.
The hearing comes a day before Nabors' annual meeting, where shareholders will be asked to approve the move to Bermuda. A string of pension funds plan to oppose the move.
The vote comes amid growing criticism of executives who have or plan to reincorporate their companies in Bermuda to reduce their US corporate tax bills.
Last week, Robert Morgenthau, the Manhattan district attorney, said his office would closely scrutinise executives of companies that had moved their headquarters offshore.
He was speaking after bringing charges against Dennis Kozlowski, the former chief executive of the Bermuda-based conglomerate Tyco, of evading New York sales tax. |
