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Omaha Steve

(99,070 posts)
Thu Jul 31, 2014, 06:33 PM Jul 2014

LIUNA Pension Fund Proposal Calls on Walgreen Co. to Bar Inversions


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http://nhlabornews.com/2014/07/liuna-pension-fund-proposal-calls-on-walgreen-co-to-bar-inversions/




LIUNA – The Laborers’ International Union of North America
“Bad for shareholders and bad for America”

Washington, D.C. – A pension fund affiliated with LIUNA – the Laborers’ International Union of North America – today filed a shareholder proposal calling on the Walgreen Co. Board of Directors to institute a policy that bars inversions.

Companies which “invert” maintain the benefits of being based in the U.S., while slashing the amount of corporate taxes they pay.

The scheme – in which a U.S.-based corporation with operations outside the U.S. restructures so the U.S. parent operation is replaced by a foreign corporation – is estimated to cost the U.S. economy $20 billion in the next 10 years, according the White House. Walgreen’s consideration of the scheme has drawn criticism from President Obama and proposals in Congress to curtail it.

The shareholder proposal was filed by the Massachusetts Laborers’ Pension Fund. LIUNA-affiliated funds have been active since 2005 in overseas incorporation issues involving U.S. companies.

FULL story at link.

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About NH Labor

The New Hampshire Labor News is a group of NH Workers who believe that we need to protect ourselves against the attacks on workers. We are proud union members who are working to preserve the middle class. The NHLN talks mostly about news and politics from NH. We also talk about national issues that effect working men and women here in the Granite State.

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