Posts filed under “Legal”

Warren Buffett’s Attackers Are Hypocritical

The jury is out as to how much of the Burger King-Tim Horton merger is driven by the desire for tax savings. So far, the range seems to be modestly to not very much. The Los Angeles Times noted “Burger King’s overall effective tax rate in 2013 was 27.5%, according to its annual report. Tim Hortons’ effective tax rate for the same year was 26.8%.” That hardly seems motivation for a deal valued at almost $12 billion. More likely, creating a competitor to fast food’s No. 1, McDonald’s, was the driving force. The merger creates the world’s third-largest fast-food company.

Before we proceed, you might want to get a better understanding of the details of this transaction: Read my colleague Matt Levine’s excellent Warren Buffett Funds Global Donut-Burger Behemoth; for a good history of tax inversions, see this quick take.

As we have discussed, I find corporate inversions to be rather distasteful, and suggested several simple steps to make them less desirable to corporate America.

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Category: Corporate Management, Legal, Taxes and Policy

Source: Vulgar Trader

Category: Legal, Politics, Really, really bad calls, War/Defense

Ponzi Scheme Tracker

Cool data collection

Category: Investing, Legal, Psychology, Really, really bad calls

The Cash Behind the Super PACs

Source: Businessweek

Category: Legal, Politics, Taxes and Policy

John Oliver on Police Militarization

In the wake of the shooting of Michael Brown in Ferguson, MO, John Oliver explores the racial inequality in treatment by police as well as the increasing militarization of America’s local police forces.

Category: Legal, Video, War/Defense

Marijuana Laws by State in USA

Source: Vox

Category: Digital Media, Legal, Politics

Marijuana Laws in the United States

Source: The Economist

Category: Legal

NSA = J. Edgar Hoover On Steroids

Spying On – and Blackmailing – Politicians, Generals, Judges, Lawyers and Citizens The newly-published revelations from Edward Snowden show that the NSA and FBI spied on an American citizen running for political office: The NSA also surveilled a U.S. citizen while he ran for political office: https://t.co/UzFya8ltmjpic.twitter.com/3jZdsYxQRG The Washington Post’s report last week also shows…Read More

Category: Legal, Really, really bad calls, War/Defense

Scotus / Potus Fail

Source: Gallup   Last month, we noted how Congress reached a record low in confidence from the American people. (I blamed you, the non-voting public for allowing the inmates to take over the asylum and turning this into the worst. congress. ever.) As it turns out, it’s not just Congress: Confidence hit a six-year low…Read More

Category: Legal, Taxes and Policy

Big Banks Want Power to Declare Cyber War

Merger of Big Banks and National Security Power … What Could Possibly Go Wrong? Bloomberg reports: Wall Street’s biggest trade group has proposed a government-industry cyber war council to stave off terrorist attacks that could trigger financial panic by temporarily wiping out account balances, according to an internal document. The proposal by the Securities Industry…Read More

Category: Legal, Think Tank, War/Defense