Skip to comments.Walgreens to lay off 345 in Flagstaff
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 countrys 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 ...
Once a company leaves its original headquarters, it rarely comes back.
This follows a similar move by Medtronic.
Yes, our confiscatory tax rates push productive businesses overseas.
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.
In before, ‘bring jobs back now. Just sayin’.’
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!
Walgreens’ HQ is in Deerfield, IL, three hours north of Springfield.
That’s the trouble with McPainland, all smart talk and no business acumen.
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.
I have to say your reference to “McPainland” in this Walgreens thread has me completely confused.
Are you feeling okay?
Could easily become a CVS or Wal-mart customer
Distribution centers for major corporations usually pay a pretty solid wage.
That generalization does NOT apply for Amazon.com.
Hint: this story is dateline Arizona. Ask yourself, who is the biggest moron from Arizona on the national stage?
Many Walgreens locations seem to be very close to Rite Aide. I have seem many across the street from each other.
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
NY attorney general sues Express Scripts, Benefits firm accused of inflating prices, keeping up to $100 Million
Express Scripts Extortion Scheme Widens
Express Scripts complaints
ES Customer Service ranking
Express Scripts RIP OFF
ES buys out Medco
Military Waste and Fraud Continue In the Middle of the Government Shutdown HERE IS YOUR PROBLEM : PALM GREASING
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.
In 1950 most of the Fortune 500 companies were headquartered in New York City, now only a small handful remain.
Why do you now feel justified not shopping at Walgreens?
I “cringe” when I read that, over and over again.
It’s not just for the tax bill...it’s for our lawsuit crazy culture, out of control regulations and the legal industry.
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.”
Repetitiveness is one thing, not understanding both micro and macro economics is another. You are right.
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.
Bailing out of the US.
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?
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.