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Buffett puts shareholders ahead of patriotism in Canadian deal
Reuters ^
| Tue Aug 26, 2014 7:16pm EDT
| Luciana Lopez
Posted on 08/27/2014 8:50:09 AM PDT by Olog-hai
Warren Buffett may be most famous for the billions of dollars he has made from investing, but he is also well known as a cheerleader for the United States. The Oracle of Omaha routinely exhorts investors to put their money in America, the mother lode of opportunity, as he wrote in his annual letter this year.
So Buffetts participation in fast-food chain Burger King Worldwide Inc.s purchase of coffee and doughnut chain Tim Hortons Inc.complete with relocation of Burger Kings domicile to Canadamight at first blush raise questions about his patriotism.
Investors and tax experts say Miami-based Burger Kings move to Canada through a so-called tax inversion will help curb its U.S. tax bill. Similar recent moves by other U.S. companiesmainly through the purchase of European companieshave drawn the ire of President Barack Obama, who suggested they are corporate deserters lacking economic patriotism.
But analysts and investors say that the Burger King deal underlines the market savvy thats helped him build his fortune more than prompting questions about his commitment to the U.S.
(Excerpt) Read more at reuters.com ...
TOPICS: Business/Economy; Canada; Editorial
KEYWORDS: 3gcapital; buffettrule; burgerking; timhortons; warrenbuffett
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To: Olog-hai
Hey, any free trade capitalist will tell you that shareholder value trumps national patriotism every time. Get the gettin’ while the gettin’s good, and then dump the whole overvaluated mess on some other poor chump; that's how it works. There's plenty of people on both sides of the aisle who would agree with that statement, and will use any influence that they can buy to make it happen.
In reality, the sun is setting on the US economy. As more and more assets leave our shores, we have less and less influence financially in the world. Business leaders see this, recognize it, and will do what they do to stay afloat in a world economy, because even the lowly wharf rat knows when to
jump off of a sinking ship.
21
posted on
08/27/2014 9:27:02 AM PDT
by
factoryrat
(We are the producers, the creators. Grow it, mine it, build it.)
To: Olog-hai
Has 0bama put everything before patriotism?
22
posted on
08/27/2014 9:32:43 AM PDT
by
mountainlion
(Live well for those that did not make it back.)
To: Olog-hai
Sounds like this is a very patriotic move — on behalf of all the Americans who own BK shares.
23
posted on
08/27/2014 9:34:09 AM PDT
by
Alberta's Child
("What in the wide, wide world of sports is goin' on here?")
To: Olog-hai
Fascism makes strange cross-dressing whores....
24
posted on
08/27/2014 9:39:36 AM PDT
by
hosepipe
(This propaganda has been edited to include some fully orbed hyperbole..)
To: Olog-hai
Buffett advocates higher taxes because he’s investing overseas.
25
posted on
08/27/2014 10:33:44 AM PDT
by
Carry_Okie
(Democrats: the Party of slavery to the immensely wealthy for over 200 years.)
To: Olog-hai
If Buffett put his patriotism ahead of his personal and financial wealth, he would not have supported Obama in any way, shape or form.
To: Olog-hai
27
posted on
08/27/2014 12:17:46 PM PDT
by
VRW Conspirator
(The next DNC convention will be spoken in Spanish; Press 1 for English)
To: cripplecreek
liberals upheld Buffet as a great liberal hero for signing on to a letter calling for more taxes. That was a smart move by Buffett as well.
Buffett knows that rich people will always find a way to protect their wealth.
Buffett was just kissing up to powerful politicians. Having friends in high places is always smart for rich people.
When new rich people come to power he will make friends with them too.
28
posted on
08/27/2014 12:18:07 PM PDT
by
Pontiac
(The welfare state must fail because it is contrary to human nature and diminishes the human spirit.)
I have arranged my finances so that, excluding some unanticipated event or situation, I will pay no federal income taxes for the next several years. I suppose some will tell me this makes me unpatriotic.....Since when did taking advantage of poorly written or even intentionally ambiguous tax laws make one unpatriotic? I get that Buffett is being hypocritical, but unpatriotic? No.
29
posted on
08/27/2014 1:15:11 PM PDT
by
clintonh8r
(It's possible to love your country and hate your government. I'm proof of it.)
To: clintonh8r
He is, however, a hypocrite.
30
posted on
08/27/2014 2:12:58 PM PDT
by
Spktyr
(Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
To: Olog-hai
This is another White House manufactured crisis. Obama needs faux crises to demonstrate his oratory and attack the GOP. When confronted by a real crisis he either mishandles it or pretends it doesn't exist. At least some of Obama’s original supporters are finally realizing the downside of electing a “rock star.”
31
posted on
08/27/2014 3:11:54 PM PDT
by
Brad from Tennessee
(A politician can't give you anything he hasn't first stolen from you.)
To: Leaning Right
32
posted on
08/28/2014 1:00:09 AM PDT
by
2ndDivisionVet
(The most dangerous man to any government is the man who is able to think things out for himself.)
To: All
profit is patriotic.
pursuit of happiness is pursuit of property.
33
posted on
08/28/2014 9:52:54 AM PDT
by
longtermmemmory
(VOTE! http://www.senate.gov and http://www.house.gov)
To: Brad from Tennessee
Obama blocks keystone so buffet can keep his railroad moving oil.
Obama fakes outrage but reality and past conduct demonstrate it is all crocodile tears.
34
posted on
08/28/2014 9:55:25 AM PDT
by
longtermmemmory
(VOTE! http://www.senate.gov and http://www.house.gov)
To: All
35
posted on
08/28/2014 9:58:09 AM PDT
by
musicman
(Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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