Skip to main content

      If you live in the USA there's a good chance you live within spitting distance of one of Walgreen's 8,000 plus stores.
      Walgreen's, a 113 year old Chicago (now suburban Chicago) based corporation, is the largest drugstore chain in the USA, with a 2012 net income of over two billion dollars.
      Today's papers are filled with the news that Walgreen's is being pressured by its investors to "move" its corporate headquarters (a purely paper transaction) to Switzerland, to avoid our country's "onerous" tax burden.
      And the company is thinking of doing it.  Follow me below the orange bag of cotton balls for more.

From today's Chicago Tribune:

Walgreen plays an integral role in the U.S. health care system, dispensing drugs to millions of consumers through its more than 8,000 stores. A significant portion of its $72 billion in annual sales comes from Medicare, the federal government's insurance program for the elderly.
    The Tribune could have also mentioned that Walgreen's 8,000 stores enjoy all the benefits of operating in the USA, including, but not limited to, the roads its suppliers use to stock its stores, the educations of its workforce, and the protection of our armed forces.
     Of course, I wouldn't expect the paper to mention that, especially when the same edition has a mendacious editorial titled, I kid you not, "Will Washington evict Walgreen?" (Note:  The headline has been changed for the online edition. Hmmmm......maybe they've received some blowback already?)
      The paper and its ancillary publishing and broadcast businesses receive a fortune in advertising revenue from Walgreen's every year, and I long ago gave up any hope of its editorial board changing its pro Wall Street/anti-Main Street ways.
      And Walgreen's is certainly not alone among ostensibly American corporations whose only allegiance is to the almighty buck.
      But unlike numerous other companies that have abrogated their responsibility as corporate citizens, Walgreen's is a pretty high profile operator.  As the Tribune article (not the editorial) puts it:
Shifting its profits overseas to avoid payment of U.S. taxes could make Walgreen an easy target for politicians and a public keenly attuned to issues of fairness and income inequality.
Gee.....ya think?
      Perhaps a good place to start would be a visit to Walgreen's Facebook page to let them know your feelings.
EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

  •  Well They Should, Since We've surrendered Our (7+ / 0-)

    economic borders. They can get a better tax deal there and they have free trade to send their products here.

    After all, most of their hard wares are made in China, and most of their drugs are made offshore too already.

    Corporations don't have civic obligations, society has corporate obligations.

    We are called to speak for the weak, for the voiceless, for victims of our nation and for those it calls enemy.... --ML King "Beyond Vietnam"

    by Gooserock on Tue Apr 15, 2014 at 06:22:00 PM PDT

  •  I have a question (11+ / 0-)

    Kos rules states that threats of violence is an HR offense

    Now if I state "I want to kick Walgreen (the corporation) right in the balls until it drops"

    Is that an HR offense?

    After all corporations are people accoring to the Supremely Corrupted (Supreme Court)... :rolleyes:

    BTW: I say if ANY corporation moves overseas to avoid taxes, they first forfeit ALL money/property (intellectual & physical)/holdings/etc before the move overseas is finalized by the US legal system!

    SCUMBAG CORPORATIONS!

    Never underestimate stupid. Stupid is how reTHUGlicans win!

    by Mannie on Tue Apr 15, 2014 at 06:35:28 PM PDT

  •  I just went to the Facebook page (9+ / 0-)

    and while there are comments about the move to Switzerland, most of the negative comments were about poor customer service.

    Ha!

    Growing old is inevitable...Growing up is purely optional

    by grannycarol on Tue Apr 15, 2014 at 06:51:52 PM PDT

  •  Maybe Deerfield, IL... (3+ / 0-)
    Recommended by:
    Mannie, blueoasis, Louisiana 1976

    ...would consider it a good thing?

    Float like a manhole cover, sting like a sash weight! Clean Coal Is A Clinker!

    by JeffW on Tue Apr 15, 2014 at 07:04:00 PM PDT

  •  Switzerland socially very advanced (8+ / 0-)

    They may become the first country to adopt Basic Income Guarantee.

    http://bangordailynews.com/...

    Perhaps the Walgreen fools will learn something there.

    Daily Kos an oasis of truth. Truth that leads to action.

    by Shockwave on Tue Apr 15, 2014 at 07:11:34 PM PDT

  •  Of course they have to consider such a move (7+ / 0-)

    as a publicly traded corporation, the officers have a fiduciary duty to the shareholders to do whatever they legally can do to maximize shareholder return (profits).  

    So, if they do the analysis and this kind of move is legally, would legally increase their profits, and the potential increase in profits outweighs whatever downside to Walgreens (such as business disruption), you can make an argument that NOT making such a move would be a breach of the officers' fiduciary duty to the shareholders.  Officers who turned down profits on behalf of the shareholders solely because they thought -- personally -- that corporations should be taxed more, or that corporations should willingly pay higher taxes than they might have to pay if they had used legal means to reduce the corporate taxes, have almost per se violated their fiduciary duty to the shareholders.  

    Of course, the way to convince those same officers and directors that such a move is not the right thing to do is to demonstrate that the downside outweighs the financial upside to the shareholders.  If the publicity from such a move would hurt business, reducing profits, that would be a legitimate reason for not doing it.  

  •  I don't do Facebook so sent a letter to (8+ / 0-)

    the Walgreen's website:

    Dear Walgreens,

    I am a regular customer at your stores, in part because I appreciate the sales, in part because they are convenient, in part because I will not shop at WalMart or Sam's Club.  I like many of your initiatives, including the charging stations for electric vehicles (I own a Chevy Volt).

    I was very disappointed to hear that you are considering moving your corporate headquarters to another country to avoid paying taxes here in the US.  You clearly have no problem profiting from selling drugs to people on Medicare, using the highways constructed with tax dollars to ship your merchandise, hiring employees educated by tax dollars, etc.  

    This may not affect your decision whether to move or not, but if you do decide to make the move, I will no longer shop in your stores.  There is a small local pharmacy nearby that I'm sure will welcome my business.   Corporate greed has caused too much damage to our economy and grief to our citizens, and I will not knowingly support it.

    Many thanks for your interest in my views.

  •  Walgreen's & Duane Reade (0+ / 0-)

    Don't know if it's nationwide but here in the NYC area I've heard that these 2 are merging.  I don't shop much in Walgreen's and only go there if they have something I need on sale.

    Never be afraid to voice your opinion and fight for it . Corporations aren't people, they're Republicans (Rev Al Sharpton 10/7/2011) Voting is a louder voice than a bullhorn but sometimes you need that bullhorn to retain your vote.

    by Rosalie907 on Tue Apr 15, 2014 at 09:28:04 PM PDT

  •  Go Galt, Walmart! (Posted on their Facebook Page) (0+ / 0-)

    American Corporations and the wealthy are reported to have nearly 5 TRILLION dollars concealed in accounts outside the USA in order to avoid paying their fair share of taxes. Why should Walmart be different? Walmart should join the race to destroy the American economy, to destroy the Middle Class, to do everything possible to avoid paying their fair share of taxes. After all, the fact that there are 3 TRILLION dollars of crumbling bridges, waterways, highways and infrastructure in America that are on the verge of collapse, why, to fix that would just be SOCIALISM. Let everyone pave their own roads, fix their own water pipes, the good old fashioned frontier way. After all, no one uses those highways to move freight and make profits, do they? Go Galt, Walmart, take the money and run. Screw the American people even harder. P.S. In case you could not guess, Hades will freeze over before I ever step in a Walmart again. I have a very good CVS not five minutes from our house.

    A footnote: FWIW, the Facebook user interface and page design is so terrible I have no idea if where I posted this on their page will appear with other comments. There are comments on the right side of the page, but no way to post to them, no "enter comments here" box. I used the box in the upper left side of the page "Write Something". Honestly, Facebook design is among the worst of any web site I have ever visited. I literally cannot make heads or tales of what is a jumbled, confused salad of bits and pieces of text and pictures. It truly sucks.

    "You've got to be very careful if you don't know where you are going, because you might not get there." “When you come to the fork in the road, take it.” --Yogi Berra

    by HeartlandLiberal on Wed Apr 16, 2014 at 05:33:16 AM PDT

  •  Simple Solution: If u sell here, u pay tax here (0+ / 0-)

    If Corporations want access to American consumers' dollars, they bloody well need to pay taxes to America for the privilege of doing business here.

    We're being used by corporations to line their global pockets, while emptying our personal pockets, and those of our nation.

    America's LAST HOPE: vote the GOP OUT in 2014 elections. MAKE them LOSE the House Majority and reduce their numbers in the Senate. Democrats move America forward - Republicans take us backward and are KILLING OUR NATION!

    by dagnome on Wed Apr 16, 2014 at 08:47:16 AM PDT

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site