WDEL Blog: Allan Loudell

Walgreens (which gobbled up Happy Harry's) blinks; will not reincorporate overseas to shave tax burden

We've discussed so-called corporate inversions on this blog before -- and mounting pressure in Washington to try to thwart this corporate practice.

Well, looks like Chicago-area based Walgreens (which bought Happy Harry's drug stores in 2006) doesn't want the grief in the current white-hot atmosphere.

The pharmaceutical chain, while acquiring the European chain, Alliance Boots, will not re-incorporate in Switzerland to reduce its tax burden.

From The CHICAGO SUN-TIMES:


http://politics.suntimes.com/article/chicago/walgreens-reveals-details-new-walgreens-boots-alliance/wed-08062014-619am

Posted at 8:20am on August 6, 2014 by Allan Loudell

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Comments on this post:

kavips
Wed, Aug 6, 2014 9:40am
People try new things all the time; that is what progresses humanity. Walgreens should not be chastised for trying to maximize its profits. However, it should be given kudos for recognizing that there are bigger things than maximizing profits, and that most Americans base their lives on those Bigger things....

They tried something, then backed off because it wouldn't pay off. No big deal. But it certainly would have been a big deal if they'd gone forward. For one, I now don't have to switch everything over to CVS... which almost happened Monday. I just got too tied up to get around to it then...


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