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To: bentway who wrote (16632)2/4/2004 1:04:08 AM
From: Elroy JetsonRespond to of 306849
 
Corporations being based in tax-havens is little different in other countries.

Macquarie Bank, which is providing hard-money loans to American retail center owners, is an Australian bank but also the subsidiary of a "U.K." bank incorporated in the Jersey (Channel) Isles for tax reasons.

I'm quite sure that transfer pricing games assures that most of the profit shows in St Helier, Jersey rather than Sydney. Most of Macquarie's shareholders are U.K. tax cheats - lots of Lords and Ladies and the odd home flooring store-owner setting up offshore trusts for his children.



To: bentway who wrote (16632)2/4/2004 1:15:05 AM
From: Amy JRead Replies (1) | Respond to of 306849
 
Chris, RE: "but they often seem to have no sense of responsibility to the people, or the nation as a whole, but only to the bottom line. "

California Corporate Statutes (i.e. the laws that CA corporations have to follow) makes it illegal if you do not act in the interest of shareholders.

If we do not want corporations to serve their shareholders, we need to change the law. But don't blame corporations for following the law. Blame legislation.

But personally, I think this law is a good thing, having seen what happened to the country some of my ancestors originated. Their country went downhill because corporations didn't act in the best interest of shareholders.

Personally, I'd rather be globally competitive, because no one can take that away from you, except yourself.

Regards,
Amy J



To: bentway who wrote (16632)2/4/2004 6:35:24 AM
From: OblomovRead Replies (1) | Respond to of 306849
 
>>Yet corporations only employ 17% of Americans

This is a complete distortion. The vast majority of the workforce is employed in the private sector.

At least for the time being. Kerry could get elected and the Democrats could take Congress back- the feast of "fast" statism (as opposed to Republican "slow" statism) could then begin in earnest.


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