Tuesday, July 22, 2014

Dick Durbin warns of customer boycott if Walgreen moves HQ to Europe

Crain's Chicago Business reports:
The U.S. Senate's No. 2 Democrat today ramped up his opposition to tax-driven corporate headquarters relocations another notch, suggesting that customers of Walgreen Co. may defect if the drugstore chain proceeds with a rumored HQ move to Europe.

"Is 'the corner of happy and healthy' somewhere in the Swiss Alps?" Sen. Dick Durbin, D-Ill., asked in a letter to Gregory Wasson, president and CEO of the Deerfield-based retailer. "I strongly urge you and the board of directors to reconsider your decision to move the company's domicile overseas to avoid U.S. taxes," a process known as a corporate inversion.
We encourage everyone to read the entire "letter" down below. Dick Durbin thinks that he has some say in the company because the federal government does business with Walgreen's. Dick Durbin has a creepy conception of property rights. Anyway, can Walgreen's get Dick Durbin off their back by hiring his wife Loretta?

Walgreens Inversion Open Letter