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Walgreens to lay off 345 in Flagstaff
Arizona Daily Sun ^ | ‎7‎/‎19‎/‎2014‎ ‎ | Suzanne Adams-Ockrassa

Posted on 07/19/2014 9:16:57 PM PDT by george76

One of the top 10 employers in Flagstaff, Walgreens, announced Friday that it was closing its distribution center by April and laying off all 345 employees.

...

Walgreens recently announced it was seeking to relocate its corporate headquarters overseas to lower its income tax bill. One estimate put first-year tax savings for the country’s largest drugstore chain at more than $700 million.

The Wall Street Journal reported July 15 that Walgreens is considering buying the rest of Alliance Boots, a drugstore chain that operates in the United Kingdom but is headquartered in Switzerland. If Walgreens does purchase the rest of Alliance Boots, it could relocate its headquarters from Springfield, Ill., to Switzerland. The move would allow the company to avoid paying U.S. taxes on profits made overseas. Walgreens would still have to pay U.S. taxes on income generated by its stores in the United States.

(Excerpt) Read more at azdailysun.com ...


TOPICS: Business/Economy; Government; News/Current Events; US: Arizona; United Kingdom
KEYWORDS: layoffs; pharmacy; switzerland; taxes; walgreens

1 posted on 07/19/2014 9:16:57 PM PDT by george76
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To: george76

Once a company leaves its original headquarters, it rarely comes back.


2 posted on 07/19/2014 9:19:18 PM PDT by Jonty30 (What Islam and secularism have in common is that they are both death cults)
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To: george76

This follows a similar move by Medtronic.


3 posted on 07/19/2014 9:19:57 PM PDT by MNnice
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To: MNnice; george76

Yes, our confiscatory tax rates push productive businesses overseas.


4 posted on 07/19/2014 9:24:07 PM PDT by aposiopetic
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To: george76
Another Billion-Dollar US Company Moves Across The Pond

This trend has the government's attention. Unfortunately, they only way they seem to want to fix it is to try to punish companies who leave, or appeal to "economic patriotism." They don't want to look at the tax laws and address the issues so that companies would want to stay, or even relocate here.

5 posted on 07/19/2014 9:24:50 PM PDT by Vince Ferrer
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To: george76

In before, ‘bring jobs back now. Just sayin’.’


6 posted on 07/19/2014 9:33:48 PM PDT by deadrock (I am someone else.)
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To: george76
When will socialists ever learn? Killing the goose that lays golden eggs has consequences. Capital will always gravitate to places where it's appreciated and treated well.

One reason the U.S. remains in recession is the unbelievably high tax rate on business. Companies like Apple, Google, General Electric and General Motors are keeping $1.53 trillion overseas to avoid the punishing 35% tax on corporate profits -- the highest in the developed world.

Instead, they're acquiring overseas companies and moving HQ there instead of bringing the money home to finance new businesses and jobs here. Obamanonics insanity!

7 posted on 07/19/2014 9:37:51 PM PDT by Bernard Marx
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To: george76

Walgreens’ HQ is in Deerfield, IL, three hours north of Springfield.


8 posted on 07/19/2014 9:41:19 PM PDT by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
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To: deadrock

+1


9 posted on 07/19/2014 9:52:43 PM PDT by Toddsterpatriot (Science is hard. Harder if you're stupid.)
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To: george76

That’s the trouble with McPainland, all smart talk and no business acumen.


10 posted on 07/19/2014 9:53:08 PM PDT by Theodore R. (Liberals keep winning; so the American people must now be all-liberal all the time.)
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To: george76

Maybe Walgreens and others who plan to or have already moved are doing it for reasons other than tax liability. Maybe they see the same writing on the wall as most of us do and are not about to be part of it.

A place where a facist government chooses the economic winners and losers is most undesireable - whatever the tax rate is.


11 posted on 07/19/2014 10:01:48 PM PDT by MichaelCorleone (Jesus Christ is not a religion. He's the Truth.)
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To: Theodore R.

I have to say your reference to “McPainland” in this Walgreens thread has me completely confused.

Are you feeling okay?


12 posted on 07/19/2014 10:16:16 PM PDT by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
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To: george76
Walgreens recently announced it was seeking to relocate its corporate headquarters overseas

Could easily become a CVS or Wal-mart customer

13 posted on 07/19/2014 10:21:01 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: george76

Ouch.

Distribution centers for major corporations usually pay a pretty solid wage.

That generalization does NOT apply for Amazon.com.


14 posted on 07/20/2014 12:44:37 AM PDT by zeestephen
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To: ConservativeMind
I have to say your reference to “McPainland” in this Walgreens thread has me completely confused.

Hint: this story is dateline Arizona. Ask yourself, who is the biggest moron from Arizona on the national stage?

15 posted on 07/20/2014 1:02:25 AM PDT by cynwoody
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To: george76

Many Walgreens locations seem to be very close to Rite Aide. I have seem many across the street from each other.


16 posted on 07/20/2014 3:12:24 AM PDT by SMGFan (Sarah Michelle Gellar is now on twitter @RealSMG)
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To: george76

If they did not feel the need to build 5 stores in a 5 block radius it might help. And TRICARE LIFE has no contract with them.

I live in a little po dunk city, 1 actual real drug store if you discount Kroger’s. Walgreen’s, it is high priced and does NOT take TRICARE LIFE. We have a few doctors, mostly GP or Peds. A hospital that is NOT fit to be open. So if you want medical care you go into Memphis.

Tricare Life (Ret, Military over 65)
DOD MANDATE 4/14/2014
For Daily Medicines
is forcing us to use either Base whose drugs are limited by size of base and is not wheel chair or handicap friendly or Express Scripts MANDATED Tricare Life. 4/14/14. Express Scripts is a sorry excuse of a provider. You never know if your order is right, what generic, what manufacture, or what country. All stuffed into your mail box UN PHOTO ID SIGNED FOR making them available to thieves and meth makers to steal. Or Neighborhood kids to access.

Express Scripts Accused Of Defrauding State And Consumers Out Of Millions Of Dollars
http://www.ag.ny.gov/press-release/express-scripts-accused-defrauding-state-and-consumers-out-millions-dollars

NY attorney general sues Express Scripts, Benefits firm accused of inflating prices, keeping up to $100 Million
http://www.nbcnews.com/id/5601076/ns/business-corporate_scandals/t/ny-attorney-general-sues-express-scripts/#.U381ECh7SMQ

Express Scripts Extortion Scheme Widens
http://www.consumeraffairs.com/news04/2009/09/express_scripts_breach.html

Express Scripts complaints
http://www.consumeraffairs.com/rx/express_scripts.html

ES Customer Service ranking
http://www.customerservicescoreboard.com/Express+Scripts

Express Scripts RIP OFF
https://www.ripoffreport.com/reports/directory/express-scripts

ES buys out Medco
29 Billion
http://www.modernhealthcare.com/article/20120402/NEWS/304029961

Military Waste and Fraud Continue In the Middle of the Government Shutdown HERE IS YOUR PROBLEM : PALM GREASING

Washington’s Blog
http://www.washingtonsblog.com/2013/10/wasted-military.html

http://www.reuters.com/investigates/pentagon/#article/part1


17 posted on 07/20/2014 5:54:10 AM PDT by GailA (IF you fail to keep your promises to the Military, you won't keep them to Citizens!)
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To: SMGFan

In this part of the country, it’s Walgreen’s on one intersection corner and CVS on the opposite corner. I ignore them both and prefer the prescription counter at a local grocery. I now feel even more justified.


18 posted on 07/20/2014 5:56:33 AM PDT by T-Bird45 (It feels like the seventies, and it shouldn't.)
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To: Jonty30

In 1950 most of the Fortune 500 companies were headquartered in New York City, now only a small handful remain.


19 posted on 07/20/2014 6:02:37 AM PDT by Lonesome in Massachussets (This is known as "bad luck". - Robert A. Heinlein)
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To: T-Bird45

Why do you now feel justified not shopping at Walgreens?


20 posted on 07/20/2014 6:05:32 AM PDT by Balding_Eagle (If America falls, darkness will cover the earth for a thousand years.)
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To: deadrock

I “cringe” when I read that, over and over again.


21 posted on 07/20/2014 6:10:52 AM PDT by Comment Not Approved (When bureaucrats outlaw hunting, outlaws will hunt bureaucrats.)
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To: george76

It’s not just for the tax bill...it’s for our lawsuit crazy culture, out of control regulations and the legal industry.


22 posted on 07/20/2014 6:33:31 AM PDT by DH (Once the tainted finger of government touches anything the rot begins)
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To: deadrock

Common sense states “If you live in a neighborhood where rape is common, you move out never to return.”

Our government and legal system “rape” successful businesses and of course, the want to “get the hell out of the neighborhood.”

“Fool me once, shame on you. Fool me twice, shame on me.”


23 posted on 07/20/2014 6:37:35 AM PDT by DH (Once the tainted finger of government touches anything the rot begins)
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To: Comment Not Approved

Repetitiveness is one thing, not understanding both micro and macro economics is another. You are right.


24 posted on 07/20/2014 7:08:52 AM PDT by deadrock (I am someone else.)
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To: DH
All common sense, but some don't get logic.

It is like standing on your imaginary neighborhood corner and screaming 'bring back neighbors now' day and night, but not doing anything about the rapists.

25 posted on 07/20/2014 7:12:36 AM PDT by deadrock (I am someone else.)
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To: Balding_Eagle

Bailing out of the US.


26 posted on 07/20/2014 7:25:42 AM PDT by T-Bird45 (It feels like the seventies, and it shouldn't.)
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To: T-Bird45

But isn’t Walgreens response to government interference a rational response?

What should they do in the face of endless, crippling, punishment from the government they are currently operating under?


27 posted on 07/20/2014 7:29:47 AM PDT by Balding_Eagle (If America falls, darkness will cover the earth for a thousand years.)
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To: Balding_Eagle

True and I would generally agree with your thesis in most cases. In this case, I have a problem with their aggressive build-out of stores that has likely removed any cushion for dealing with other business conditions, such as the government.


28 posted on 07/20/2014 7:42:09 AM PDT by T-Bird45 (It feels like the seventies, and it shouldn't.)
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