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Another U.S. company offshores (Philip Morris to Switzerland)

glenn1

Lifer
Sep 6, 2000
25,383
1,013
126
Story link

The largest U.S taxpayer has moved the bulk of its business to where it's outside the reach of the vulture lawyers and the IRS. Parent company Altria has also moved its headquarters from NYC to Richmond, VA. It's yet another lesson in cause and effect for those who think they can demonize the "rich," treat their earnings as cow cows for their grand social projects, and harass them (and many others like it) with endless lawsuits.
 

blackangst1

Lifer
Feb 23, 2005
20,977
848
126
No suprise. As the tax laws squeeze more and more from those who pay most of it anyway, they WILL leave. And why shouldnt they? I know of one person on this board who think farewell would be the best thing.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
2
0
Happens in northern states, too. The northern flight isn't because of weather, it's because of the economy.
 

BoomerD

No Lifer
Feb 26, 2006
57,402
5,752
126
Every single dime of products they sell in this country should be subject to double tariffs for this.
Don't want to be an American company? Fine...Pay up.
 

brxndxn

Diamond Member
Apr 3, 2001
8,475
0
76
Originally posted by: BoomerD
Every single dime of products they sell in this country should be subject to double tariffs for this.
Don't want to be an American company? Fine...Pay up.
agreed. It's time we start protecting ourselves.
 

blackangst1

Lifer
Feb 23, 2005
20,977
848
126
Originally posted by: brxndxn
Originally posted by: BoomerD
Every single dime of products they sell in this country should be subject to double tariffs for this.
Don't want to be an American company? Fine...Pay up.
agreed. It's time we start protecting ourselves.
And watch exports drop as well. There IS a reaction to this, and not a good one.
 

sandorski

No Lifer
Oct 10, 1999
68,485
3,596
126
US Taxes are fairly low among the G7/8. Multinationals suck for Community loyalty.
 

Mxylplyx

Diamond Member
Mar 21, 2007
4,197
100
106
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
 

senseamp

Lifer
Feb 5, 2006
35,023
5,106
126
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
 

glenn1

Lifer
Sep 6, 2000
25,383
1,013
126
Originally posted by: senseamp
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
link. Looks like they make Mercedes, Hondas, and Toyotas there. Whether you like Alabama or not, you'd turn up your nose at an R-class?

 

miketheidiot

Lifer
Sep 3, 2004
11,062
1
0
Originally posted by: senseamp
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
i'd rather buy a car built in japan.
 

senseamp

Lifer
Feb 5, 2006
35,023
5,106
126
Originally posted by: glenn1
Originally posted by: senseamp
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
link. Looks like they make Mercedes, Hondas, and Toyotas there. Whether you like Alabama or not, you'd turn up your nose at an R-class?
Wasn't Mercedes having quality problems with Alabama built M Classes?
 

blackangst1

Lifer
Feb 23, 2005
20,977
848
126
Originally posted by: senseamp
Originally posted by: glenn1
Originally posted by: senseamp
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
link. Looks like they make Mercedes, Hondas, and Toyotas there. Whether you like Alabama or not, you'd turn up your nose at an R-class?
Wasn't Mercedes having quality problems with Alabama built M Classes?
Well, There IS the top ten worst Mercedes list

6) X164 GL Class (2006 - )
Another winner from Benz's Alabama plant. This generic soccer mom 'ute was "designed" to replace the die-hard G-Wagen. Benz buyers thought better and the demand for the original continues.

5) W163 M Class (1997-2006)
Built in Alabama, the M-Class marked the start of the slippery slope. The model ushered in an era of poorly built badge-engineered cars. Badly aged examples still litter America's highways.


But, it's not necessarily AL's fault. Mercedes hasnt really been known for reliability, and they had a number of years of flat out shitty cars after the merge with Chrysler; however, things have improved ALOT in the last 4 years or so.

But, in the industry, the M class is still considered the red-headed stepchild. It just so happens it's built in AL. But again, it's not AL fault, it's Mercedes'. Lexus and Toyota certainly dont have reliability issues and they are made there. Among others.
 

MovingTarget

Diamond Member
Jun 22, 2003
8,992
96
91
Originally posted by: glenn1
Originally posted by: senseamp
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
link. Looks like they make Mercedes, Hondas, and Toyotas there. Whether you like Alabama or not, you'd turn up your nose at an R-class?


I actually live within about 30 miles of that Mercedes plant, passing it during my morning commute. It is an impressive facility. I'm not really a fan of the M class though. You also forgot to mention Hyundai, which built a plant just outside of Montgomery. They've been getting good reviews for the models that they produce at that plant.
 

MovingTarget

Diamond Member
Jun 22, 2003
8,992
96
91
Hrrrk! I forgot to actually commend on the OP!

To be honest, I'm not suprised that they moved. They are solely out for their own profit, holding no other loyalties. I think that they should be handled as a foreign company considering that the move was solely to hide income from taxation in their primary market. Import taxes would be prudent. As far as trade agreements go, I think that there are a number of other countries that struggle with the same problem. Something could be worked out there over time.
 

BoomerD

No Lifer
Feb 26, 2006
57,402
5,752
126
Maybe also hit them with heavy export taxes for the products they ship OUT of the USA.

Dammit, those are OUR cigarettes...:roll:


I stopped buying any Stanley products several years ago when they made their plans public to move their headquarters to Bermuda to avoid US taxes. The public and governmental outrcy was so strong that they reconsidered the move.

http://query.nytimes.com/gst/f...F931A3575BC0A9649C8B63

 

Legend

Platinum Member
Apr 21, 2005
2,254
1
0
I don't blame Altria at all (which isn't just tobacco). To those that want to tax and regulate, please fucking stop. These sorts of policies are destroying America. We've got the Feds trying to grab property now because whiny people can't stomach an ordinary bear market.

Altria is one of the stocks that I'm likely to put in a portfolio when I mess with technical analysis investing after I've fully loaded my IRA/401k which employ MPT.

Altria knows how to manage money. They're literally the highest performing stock in the last 60 years. They average nearly 20% annualized interest.
 

LumbergTech

Diamond Member
Sep 15, 2005
3,622
1
0
good riddance, they are an incredibly unethical company...

not because they sell cigarettes, because they tried so damn hard to pretend like they dont kill
not to mention their disturbing labs used to keep people addicted

its one thing to try to make a product attractive, but to try to physiologically hijack your customers is just plain screwed up..
 

Throckmorton

Lifer
Aug 23, 2007
16,830
2
0
Originally posted by: BoomerD
Every single dime of products they sell in this country should be subject to double tariffs for this.
Don't want to be an American company? Fine...Pay up.
Exactly. They want to take advantage of the market facilitated by the state, but don't want to pay the taxes to the state. Fvck them.
 

Mxylplyx

Diamond Member
Mar 21, 2007
4,197
100
106
Originally posted by: senseamp
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
Heavens no, I'd never drive an M class mercedes.
 

Mxylplyx

Diamond Member
Mar 21, 2007
4,197
100
106
Originally posted by: senseamp
Originally posted by: Mxylplyx
We in the southern states are reaping massive benefits from northern flight. Alabama is becoming the next Michigan for the automotive industry, thanks to our right to work laws, and the workers in these plants do damn well for themselves. No need to offshore, just come down south.
Would you really want to drive a car built in Alabama though?
Unless this is some stupid attempt at humor, you sound like an ignorant fool.
 

jpeyton

Moderator in SFF, Notebooks, Pre-Built/Barebones
Moderator
Aug 23, 2003
25,375
141
116
Good! The less tax money we collect, the faster we'll hit bottom.
 

rudder

Lifer
Nov 9, 2000
19,434
84
91
Originally posted by: blackangst1
No suprise. As the tax laws squeeze more and more from those who pay most of it anyway, they WILL leave. And why shouldnt they? I know of one person on this board who think farewell would be the best thing.
Once universal healthcare becomes a reality (factoring in the 20 million low paid illegal workers who would be eligible through amnesty) the taxes of such companies would double. They are getting out while the getting is good.
 

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