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View Diary: Corporations Repatriating Cash After Dodging Tax Laws (47 comments)

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  •  No, profits were already way up (2+ / 0-)
    Recommended by:
    DocbytheBay, trumpeter

    in 2008, before the merger and layoffs.

    Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and your greatest weakness.

    by The Anomaly on Thu Dec 30, 2010 at 10:18:27 AM PST

    [ Parent ]

    •  According to the link you just gave (0+ / 0-)

      profits were actually quite a bit lower (in Europe to boot, so how that applies to this thread is confusing!) than in the previous several years.

      In any event , massive layoffs and mergers have not been a recent event that plagues Big Pharma, they've been a regular feature for several years already.

      •  Merck's profit did not rise in 2009 (1+ / 0-)
        Recommended by:
        trumpeter

        From what data do you draw the argument that Merck's profits increased after their acquisition of Schering-Plough?

        According to the stats published on their website, their profit did not rise.

        Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and your greatest weakness.

        by The Anomaly on Thu Dec 30, 2010 at 10:34:03 AM PST

        [ Parent ]

        •  Your (new!) link shows approximately (0+ / 0-)

          similar profitability over the past couple of years, which is quite astounding considering the global financial meltdown we've all been hearing about . ..

          To look at things another way, the following link provides annotated stock prices (click on the 5 year option):

          http://www.wikinvest.com/...

          You'll see that the stock bottomed out right about when the merger went through and rose steadily for many months thereafter (surely long enough for the executives in charge to cash in their stock options for a sizeable profit).

          •  You are confirming my rebuttal (1+ / 0-)
            Recommended by:
            lunachickie

            that Merck's profit did not rise after layoffs.  The key issue is that the tax loopholes are not benefiting American workers, or creating jobs.  Just the opposite, in fact.

            Hope. It is the quintessential human delusion, simultaneously the source of your greatest strength, and your greatest weakness.

            by The Anomaly on Thu Dec 30, 2010 at 11:13:51 AM PST

            [ Parent ]

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