Posted on 09/24/2015 5:48:56 AM PDT by jimbo123
A new report calls into question Carly Fiorina's business practices while CEO of Hewlett-Packard.
When Republican presidential candidate Carly Fiorina was at the helm of Hewlett-Packard, she oversaw HP's lobbying of the U.S. government for a temporary tax holiday on corporate profits so it could use the money to create new jobs. Much of that money, however, was used to buy back HP stock while then-CEO Fiorina fired 14,500 employees, according to a new report from The Daily Beast.
HP was at the forefront of the lobbying effort for the Homeland Investment Act of 2004, a law designed to generate economic growth and jobs by giving international companies a one-time tax break on money made and stored abroad. Rather than taxing profits at 35 percent, the tax holiday reduced the rate to 5.25 percent. Companies ended up bringing back some $299 billion from foreign subsidiaries, which was supposed to go toward job-creating efforts like research and development, according to The New York Times.
HP saved more than $4.3 billion thanks to the law, which specifically prohibited companies from repurchasing shares of stock. But that didn't stop Fiorina from putting more than $4 billion into stock buybacks, according to The Daily Beast's Michael Daly, who explains that companies often use stock buybacks "as a way of funneling cash to stockholders, these prominently including CEOs."
Even though the law HP lobbied for and made billions from was meant to put more Americans back to work, Fiorina then decided to lay off 14,500 workers, as the LA Times reported.
(Excerpt) Read more at hngn.com ...
Yet I have yet to see any stories on Fox?
Yet Ben Carson in Fox's poll has double her numbers and he is second in the Race.
Their must be a Rodger Ailes prohibition at Fox on negative stories on her.
In this video, Carly Fiorina speaks eloquently of the need for CEOs to step up and take responsibility for the unethical actions of the people who work for them, asking “Where are personal ethics? Where are the people who are just going to raise their hands and say, ‘Stop, this isn’t right?’ And what I know for sure is that values, and character, and an internal compass come from in here,” she says, pointing to her heart, “but it is also a leader’s job to set that tone at the top.”
As the CEO of HP, Carly Fiorina had a chance to say, “Stop, this isn’t right.” She had a chance to set a tone at the top. But aside from her obvious failure to do so, the new SEC investigation raises some hard questions:
Did Carly Fiorina actually have no idea that these shell companies were operating on her watch?
Did Carly Fiorina’s SEC filings properly report these transactions or risks to investors
Yes. Fox doesn’t want to talk about Carly’s disasters with HP, Lucent and her California senate campaign because she is the GOPe’s new Designated Loser to replace Amnesty Jeb.
She is a female Jonah, along with an albatross following her.
I swear you need a mirror to look at her, those eyes are weird, they look like a shopping cart bag lady with 150 cats at home.
One of the rare occasions when the Daily Beast is actually helping te conservative cause. Though I suspect they don’t realize it.
If this is true then she broke the law should she not be prosecuted, is there a statute of limitations on such or would she be exempt from prosecute since she is woman EXACTLY like hillary, would she not behave in the same manner when she acquires power, power does corrupt especially those like FioRino who are prone to corruption to begin with.
bookmarked for later
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