Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (3534)	7/24/2002 1:34:47 PM
From: John Carragher	Read Replies (2) \| Respond to of 3770

House Preserves Federal Contracts for Bermuda-Based Companies By Ryan J. Donmoyer Washington, July 23 (Bloomberg) -- The House stripped language from an $18.5 billion spending bill that would have banned federal contracts for companies that establish their legal headquarters in tax havens like Bermuda. The action preserves more than $3 billion in contracts for companies such as Accenture Ltd., Tyco International Ltd., Foster- Wheeler Ltd., Ingersoll-Rand Co., and Monday Ltd., the new name of PricewaterhouseCoopers LLP's consulting arm. Democrats sought the ban to punish more than a dozen U.S. companies that have moved offshore to lower their tax bills, a strategy known as ``corporate inversion.'' Republicans used a procedural step to remove the provision and said companies shouldn't be faulted for trying to reduce their income taxes.