oh, nevermind

Aug 10, 2001
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EDIT: Before they went public for a second time, a Cayman Islands "limited liability holding company" (whatever that is) controlled their assests. But now that they've gone public again, their indepence and country of registration is unclear.
 

Jzero

Lifer
Oct 10, 1999
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Originally posted by: Vespasian
its (phony) headquarters is located in the Cayman Islands (a tax haven)? What's your opinion?
Is it crap? Yes.
Is it unfair? Any company can locate their headquarters in a PO box in the Caymans if they want to go through the trouble and expense.
 

Grey

Platinum Member
Oct 14, 1999
2,737
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It could also be that they make good HDDs as opposed to IBMs infamous self destruct drives. But I do agree, it is very lame to have the offshore headquarters to escape taxes.
 

Yossarian

Lifer
Dec 26, 2000
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Many major companies locate their offices or factories for tax reasons, it's not a big deal.
 
Aug 10, 2001
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Originally posted by: Jzero
Originally posted by: Vespasian
its (phony) headquarters is located in the Cayman Islands (a tax haven)? What's your opinion?
Is it crap? Yes.
Is it unfair? Any company can locate their headquarters in a PO box in the Caymans if they want to go through the trouble and expense.
So, in other words, because any other company could do the same thing, it's fair?
 

DaveSimmons

Elite Member
Aug 12, 2001
40,730
670
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Originally posted by: PipBoy
Many major companies locate their offices or factories for tax reasons, it's not a big deal.
Except for the billions in tax dollars that have to be made up for by taxing you and me a little more.

These companies are parasites -- they use the US infrastructure (roads, rail, phone, power, even legal) without helping to pay for it.
 
Aug 10, 2001
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Seagate has no shame because they "expatriated" after September 11th. If they had done it before September 11th, I would have given them the benefit of the doubt.
 

NogginBoink

Diamond Member
Feb 17, 2002
5,322
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Originally posted by: Grey
It could also be that they make good HDDs as opposed to IBMs infamous self destruct drives. But I do agree, it is very lame to have the offshore headquarters to escape taxes.
Obviously, you've never paid a corporation's tax bill. Saving money is hardly "lame".
 

Jzero

Lifer
Oct 10, 1999
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Originally posted by: Vespasian
Originally posted by: Jzero
Originally posted by: Vespasian
its (phony) headquarters is located in the Cayman Islands (a tax haven)? What's your opinion?
Is it crap? Yes.
Is it unfair? Any company can locate their headquarters in a PO box in the Caymans if they want to go through the trouble and expense.
So, in other words, because any other company could do the same thing, it's fair?
How do you define "fair?" If one party is somehow restricted, then that would be "unfair." If Seagate was given special permission to do so and for some reason their competitors were not, it would be unfair.

If everyone is allowed to do it, how can it possibly be unfair to anyone? Sure, some companies have ethics, but they make the choice not to move their headquarters.

It's unfair to taxpayers, but that's not what you asked, but it is why I say it's crap.
 
Aug 10, 2001
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Originally posted by: Jzero
Originally posted by: Vespasian
Originally posted by: Jzero
Originally posted by: Vespasian
its (phony) headquarters is located in the Cayman Islands (a tax haven)? What's your opinion?
Is it crap? Yes.
Is it unfair? Any company can locate their headquarters in a PO box in the Caymans if they want to go through the trouble and expense.
So, in other words, because any other company could do the same thing, it's fair?
How do you define "fair?" If one party is somehow restricted, then that would be "unfair." If Seagate was given special permission to do so and for some reason their competitors were not, it would be unfair.

If everyone is allowed to do it, how can it possibly be unfair to anyone? Sure, some companies have ethics, but they make the choice not to move their headquarters.

It's unfair to taxpayers, but that's not what you asked, but it is why I say it's crap.
A simple "yes" or "no" would have sufficed.
 

Jzero

Lifer
Oct 10, 1999
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A simple "yes" or "no" would have sufficed.
LOL. Since you appeared to be questioning the very definition of the word "fair," or trying to create some sort of spin on the response, more elaboration was definitely in order :)
 

Joony

Diamond Member
Jan 17, 2001
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Company Headquarters
Seagate Technology
920 Disc Drive
Scotts Valley, California 95066

1-800-SEAGATE
+1-405-936-1234
 
Aug 10, 2001
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Originally posted by: NogginBoink
Originally posted by: Grey
It could also be that they make good HDDs as opposed to IBMs infamous self destruct drives. But I do agree, it is very lame to have the offshore headquarters to escape taxes.
Obviously, you've never paid a corporation's tax bill. Saving money is hardly "lame".
If the money saved stopped U.S. corporations from moving factories and jobs to Mexico, China, etc. , I would be all for it.
 

Maetryx

Diamond Member
Jan 18, 2001
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If they paid more taxes, presumably their hard drives would cost more. It's always passed on to the consumers.
 
Aug 10, 2001
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Originally posted by: Joony
Company Headquarters
Seagate Technology
920 Disc Drive
Scotts Valley, California 95066

1-800-SEAGATE
+1-405-936-1234
Seagate Technology Holdings knows that if you want to survive in the storage market, you'd better have drive. The company (which is registered in the Cayman Islands) is a leading independent maker of rigid disk drives (or hard drives) used to store data in computers. Its drives are used in systems ranging from personal computers and workstations to high-end servers and mainframes. Seagate sells directly to computer manufacturers and through distributors. Investment firms Silver Lake Partners and Texas Pacific Group, which took Seagate private in 2000, now own 26% and 18% of the company, respectively. More...
http://www.hoovers.com/co/capsule/8/0,2163,14678,00.html
 

notfred

Lifer
Feb 12, 2001
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Seagate is in Scotts Valley, California, down the street from Borland. I grew up 5 miles from there, I drove by their building last week.
 
Aug 10, 2001
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Originally posted by: notfred
Seagate is in Scotts Valley, California, down the street from Borland. I grew up 5 miles from there, I drove by their building last week.
That's their "operational" headquarters. It's just like how Bermuda-based Tyco's "operational" headquarters are in Exeter, New Hampshire.
 

notfred

Lifer
Feb 12, 2001
38,241
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Originally posted by: Vespasian
Originally posted by: notfred
Seagate is in Scotts Valley, California, down the street from Borland. I grew up 5 miles from there, I drove by their building last week.
That's their "operational" headquarters. It's just like how Bermuda-based Tyco's "operational" headquarters are in Exeter, New Hampshire.
So what exactly is it they have in the Cayman Islands?
 

Valvoline6

Senior member
Oct 6, 2000
742
0
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It's smoke and mirrors. The company is physically located in California, while on paper they're in the Camans for tax benefits. I am a life long Reagan loving, tax cutting, pro business, supply side, commie hating, Republican. But pulling that crap rubs me the wrong way.
 
Aug 10, 2001
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Originally posted by: notfred
Originally posted by: Vespasian
Originally posted by: notfred
Seagate is in Scotts Valley, California, down the street from Borland. I grew up 5 miles from there, I drove by their building last week.
That's their "operational" headquarters. It's just like how Bermuda-based Tyco's "operational" headquarters are in Exeter, New Hampshire.
So what exactly is it they have in the Cayman Islands?
It's probably nothing more than a small office and a mailbox. But that small office and mailbox saves them from paying millions of dollars in U.S. taxes every year.
 

notfred

Lifer
Feb 12, 2001
38,241
4
0
Originally posted by: Vespasian
Originally posted by: notfred
Originally posted by: Vespasian
Originally posted by: notfred
Seagate is in Scotts Valley, California, down the street from Borland. I grew up 5 miles from there, I drove by their building last week.
That's their "operational" headquarters. It's just like how Bermuda-based Tyco's "operational" headquarters are in Exeter, New Hampshire.
So what exactly is it they have in the Cayman Islands?
It's probably nothing more than a small office and a mailbox. But that small office and mailbox saves them from paying millions of dollars in U.S. taxes every year.
Hmm, doesn't bother me. I'm guessing that Toyota doesn't pay those taxes either, being based in Japan, right? How about Sony, or BMW, or ATI?
 
Aug 10, 2001
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This is not really related, but supposedly Bermuda-registered Accenture (a spin-off of corporate scandal-ridden and now defunct Anderson Consulting ) has a major contract with the IRS.
 
Aug 10, 2001
10,424
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Originally posted by: notfred
Originally posted by: Vespasian
Originally posted by: notfred
Originally posted by: Vespasian
Originally posted by: notfred
Seagate is in Scotts Valley, California, down the street from Borland. I grew up 5 miles from there, I drove by their building last week.
That's their "operational" headquarters. It's just like how Bermuda-based Tyco's "operational" headquarters are in Exeter, New Hampshire.
So what exactly is it they have in the Cayman Islands?
It's probably nothing more than a small office and a mailbox. But that small office and mailbox saves them from paying millions of dollars in U.S. taxes every year.
Hmm, doesn't bother me. I'm guessing that Toyota doesn't pay those taxes either, being based in Japan, right? How about Sony, or BMW, or ATI?
Why would foreign companies have to pay U.S. taxes?
 

yakko

Lifer
Apr 18, 2000
25,455
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How is it unfair if it is legal? What about the people who get a tax break on the interest they pay on a home loan? Until we make it a system with no exemptions for any reason it will never be fair.
 

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