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Posted: Mon Aug 25, 2014 12:14 pm
by Leisher
BK looking to buy Tim Horton so they can move to Canada.
I know we posted something else about this topic here somewhere, but I couldn't find it.
Can you blame these companies? The U.S. government has constantly shown that instead of fixing the programs that waste taxpayer money, they will instead just increase tax bills. If you're a company that can get out of it, why wouldn't you?
Although, I don't understand how ex-patriots are taxed to hell, but these corporations can escape? Apparently nobody saw this coming and closed the loopholes.
I expect that eventually the government will create a very harsh penalty for companies that leave the U.S., and new taxes on those outside the U.S. who do business here.
Posted: Mon Aug 25, 2014 12:20 pm
by Malcolm
I expect that eventually the government will create a very harsh penalty for companies that leave the U.S., and new taxes on those outside the U.S. who do business here.
That'll encourage biz.
Posted: Mon Aug 25, 2014 12:29 pm
by TheCatt
I thought ex-pats could only be "Taxed to hell" if they were spending significant amounts of time within the US (at least 2 weeks, iirc).
As for the companies, they are just trying to avoid taxes on money not actually earned in this country. Shock.
Posted: Mon Aug 25, 2014 12:37 pm
by Leisher
Point being, the U.S. government isn't exactly helping our economy with the way they spend or make money.
As for the ex-pats, I remember watching a news program or reading a long article about them getting fucked over by the tax laws that apply to them.
Posted: Mon Aug 25, 2014 3:48 pm
by TheCatt
But this is actually the brainchild of millennials. Burger King's management roster reads more like that of a Silicon Valley startup than old Wall Street suits and ties.
Its Chief Executive Officer, Daniel Schwartz, is only 33 years old.
He's not the only "whiz kid" at the company. Chief Financial Officer Joshua Kobza is only 28, and analysts on the company's quarterly earnings calls are greeted by Sami Siddiqui, Burger King's head of investor relations, who is 29.
The hell?
Article.
Posted: Mon Aug 25, 2014 6:22 pm
by Leisher
I've seen youth surges in other companies too.
The ones that immediately come to mind are This End Up and Chi-Chi's...
I'm not making a joke, just stating fact.
How these young kids get these positions I don't know, but if I was an investor, I think I'd be pissed.
Posted: Mon Aug 25, 2014 6:42 pm
by Malcolm
Leisher wrote:How these young kids get these positions I don't know...
Mr. Schwartz has served as our Chief Executive Officer since June 2013. From April 2013 until June 2013, he served as our Chief Operating Officer and from January 1, 2011 until April 2013, he served as the Chief Financial Officer of Holdings and, upon the merger with Justice, the Company. Mr. Schwartz joined Holdings in October 2010 as Executive Vice President, Deputy Chief Finance Officer and was appointed as Executive Vice President and Chief Financial Officer in December 2010, effective January 1, 2011. Since January 2008, Mr. Schwartz has been a partner with 3G Capital, where he was responsible for managing 3G Capital's private equity business. He joined 3G Capital in January 2005 as an analyst and worked with the firm's public and private equity investments until October 2010. From March 2003 until January 2005, Mr. Schwartz worked for Altair Capital Management, a hedge fund located in Stamford, Connecticut and served as an analyst in the mergers and acquisitions group at Credit Suisse First Boston from June 2001 to March 2003. Mr. Schwartz is a director of 3G Capital and Carrols Restaurant Group, Inc., the Company's largest franchisee.
Bets:
1) Blackmail.
2) Born rich, made the correct moves, know the right people, buried bodies where no one found them.
3) Self-made rich. Had one good idea that he cashed in on, then it reads much like #2.
Posted: Mon Sep 01, 2014 8:19 pm
by unkbill
I was told they still pay taxes but it has something to do with the Canadian Burger King can lend America Burger King money and take the interest off it's taxes. Or some other such nonsense to make for bigger profits.
Posted: Mon Sep 01, 2014 8:40 pm
by TheCatt
Basically, the US part would still pay US taxes. But the Canadian part wouldn't.
Right now, if international BK wants to bring money home from other countries (already taxed by those countries), they also have to pay some amt of US taxes as well.