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Old 01-10-2018, 12:21 PM  
gblowfish gblowfish is offline
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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
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Old 01-10-2018, 12:25 PM   #2
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Old 01-10-2018, 12:32 PM   #3
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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.
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Old 01-10-2018, 12:35 PM   #4
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Originally Posted by gblowfish View Post
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?
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Old 01-10-2018, 12:49 PM   #5
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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/
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Old 01-10-2018, 12:51 PM   #6
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You have to wait for it to trickle down, George...
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Old 01-10-2018, 01:06 PM   #7
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This isn't Trump's fault.

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Old 01-10-2018, 01:10 PM   #8
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Yep no doubt this wouldn’t be happening if we just continued to tax them more. ****ing tax cuts. It’s are ruining everything!!
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Old 01-10-2018, 01:13 PM   #9
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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!
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Old 01-10-2018, 01:15 PM   #10
Just Passin' By Just Passin' By is offline
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Quote:
Originally Posted by gblowfish View Post
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/



Did you check the date on the underlying story?

Last edited by Just Passin' By; 01-10-2018 at 01:22 PM..
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Old 01-10-2018, 01:20 PM   #11
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No way, are you telling me drug research companies are turds? I didn't know that.
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Old 01-10-2018, 01:20 PM   #12
vailpass vailpass is offline
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Solid business practices.
LA Times.
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Old 01-10-2018, 01:20 PM   #13
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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.
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Old 01-10-2018, 01:21 PM   #14
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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?
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Old 01-10-2018, 01:22 PM   #15
vailpass vailpass is offline
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Originally Posted by mlyonsd View Post
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.
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