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-   -   U.S. Issues Here's Where Pfizer is going with their $5 billion tax cut (https://www.chiefsplanet.com/BB/showthread.php?t=313134)

gblowfish 01-10-2018 12:21 PM

Here's Where Pfizer is going with their $5 billion tax cut
 
Buying back their stock, enriching stock holders, laying off researchers. Making America Great Again!

http://www.latimes.com/business/hilt...108-story.html

Prison Bitch 01-10-2018 12:25 PM

Consumer confidence at a 17 year high.

Small biz confidence at a 44 year high.

GeorgeBlowjob wants you to know he's unhappy, tho.

Fish 01-10-2018 12:32 PM

Who needs Alzheimer's and Parkinson's research when you can increase your shareholder's profits instead?

Quote:

The company didn’t say how much it was spending on the two conditions, but said about 300 researchers will lose their jobs as it redirects its research and development budget elsewhere.
And it's not like this wasn't predicted. This isn't even the first time...

Quote:

Pfizer’s diversion of its tax break to shareholders parallels its behavior the last time American companies received a tax holiday on repatriated foreign earnings. That was in 2004, after corporations promised to apply their tax savings to hiring more workers and investing in their business. Instead, they laid off workers, bought back their shares, and pumped up their CEO compensation.

From 2004 through 2007, Levin reported, Pfizer bought back more than $27 billion in stock and reduced employment by 11,748 workers.

This time around, the company is again gifting its shareholders and laying off workers. Abandoning a challenging research field is a new wrinkle, however.

HonestChieffan 01-10-2018 12:35 PM

Quote:

Originally Posted by gblowfish (Post 13351702)
Buying back their stock, enriching stock holders, laying off researchers. Making America Great Again!

http://www.latimes.com/business/hilt...108-story.html

Do you follow Pfizer stock at all?

gblowfish 01-10-2018 12:49 PM

Meanwhile, AT&T, despite record profits and receiving a massive tax cut, is laying off 4,600 employees. What happened to "Tax Cuts will Create Jobs?"
https://gritpost.com/att-cut-4600-jobs/

Fish 01-10-2018 12:51 PM

You have to wait for it to trickle down, George...

Jim Hammer 01-10-2018 01:06 PM

This isn't Trump's fault.

Because...reasons...

LOCOChief 01-10-2018 01:10 PM

Yep no doubt this wouldn’t be happening if we just continued to tax them more. ****ing tax cuts. It’s are ruining everything!!

baitism 01-10-2018 01:13 PM

Not every company is going to make a decision in their employee's best interest. That's life. If companies act like shit heads, people will stop using their products. Free market, baby!

Just Passin' By 01-10-2018 01:15 PM

Quote:

Originally Posted by gblowfish (Post 13351767)
Meanwhile, AT&T, despite record profits and receiving a massive tax cut, is laying off 4,600 employees. What happened to "Tax Cuts will Create Jobs?"
https://gritpost.com/att-cut-4600-jobs/


LMAO

Did you check the date on the underlying story?

Marcellus 01-10-2018 01:20 PM

No way, are you telling me drug research companies are turds? I didn't know that.

vailpass 01-10-2018 01:20 PM

Solid business practices.
LA Times.

HonestChieffan 01-10-2018 01:20 PM

Good decision. They have been wanting to find a merger partner.

Strategically and financially they cannot play at an adequate level in Alz research.

They were and may still be close to selling off the Consumer product division.

mlyonsd 01-10-2018 01:21 PM

Yes, I'm sure Pfizer was just sitting there with baited breath waiting for the tax break that would signal the reason to shut down R&D.

Seriously, how stupid do you have to be to make that correlation?

vailpass 01-10-2018 01:22 PM

Quote:

Originally Posted by mlyonsd (Post 13351859)
Yes, I'm sure Pfizer was just sitting there with baited breath waiting for the tax break that would signal the reason to shut down R&D.

Seriously, how stupid do you have to be to make that correlation?

LA Times.
Blowfish.


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