#repostsave @jrj525 with @repostsaveapp ・・・ It’s currently unclear why Murren chose to sell when he did. To date, MGM’s stock has not experienced a significant decline in value due to the repurchasing program. As the CEO of MGM, it runs against the company’s interests to convey a sense of urgency in the selling personal stock of shares immediately after the announcement of my company’s share repurchase program. It’s also strange that the CEO of a company would sell more than half of their stake (let alone 80%) in the company that they represented. Mr. Murren and his fellow board members were not the only speculators who were bearish on MGM’s prospects. Billionaire investor George Soros also bought $42 million worth of puts on the company, according to SEC filings from mid August. That point being made, it needs to be asked why any profit-oriented CEO of any company would sell 80% of his personal stake in his own corporation, especially after he thought it was in the business’ best interest to initiate a massive share repurchase program which one would theoretically assume to reduce the number of shares in the company and increase the price of each share, ceteris peribus. Why would the individual with the most information about the company sell 80% of his shares immediately after the commencement of a program that most would consider positive for the stock? Shouldn’t he want to hold on to his shares? Is there something he knew, that others didn’t, that lead to so much movement in such little time? What a week! Funny how George soros was involved. 🙄
The #paradisepapers helped shine a new light on how one of the biggest companies in the world, Apple, found ways to keep its tax rate ultra-low.⠀ ⠀ In May 2013 Apple CEO Tim Cook told a U.S. Senate Permanent Subcommittee on Investigations that "We pay all the taxes we owe, every single dollar ... We do not stash money on some Caribbean island."⠀ ⠀ But less than a year later, Apple's lawyers developed a questionnaire (found in the Paradise Papers) for Appleby's offices in the Cayman Islands, the British Virgin Islands, Bermuda, the Isle of Man, Guernsey and Jersey.⠀ ⠀ Why the move?⠀ ⠀ Apple's subsidiaries had been based in Ireland, but Ireland had bowed to international pressure and cracked down on firms that were claiming that almost all of their income was not subject to taxes in Ireland, or anywhere else in the world.⠀ ⠀ The iPhone-maker eventually settled on Jersey - a tiny island in the English Channel that charges no tax on corporate profits for most companies.⠀ ⠀ Since then, Apple has continued to hold much of its non-U.S. earnings in a $252 billion mountain of cash offshore.⠀ ⠀ But, this week the company announced it would repatriate tax payments worth $38 billion as required by recent changes to U.S. tax law.⠀ ⠀ ⠀ 📰: Simon Bowers⠀ ✍️: @roccofazzari⠀ ⠀ ⠀⠀ #paradisepapers#icij#rocco#taxhavens#news#finance#business#illustration#apple#tax#politics#tax#tbt#throwbackthursday
We're thrilled to welcome Baker & Partners as the official Gold Event App Sponsor of #oacmiami. Find out more about this 'MUST-ATTEND' event for senior stakeholders in high-value international finance here: http://bit.ly/oacmiami2018
Prime Minister Malcolm Turnbull has responded to your demands for a transparent tax system that protects #womensrights! ● In his letter, he notes your #advocacy on this campaign: “We are currently considering the details, scope and implementation of a possible beneficial ownership register for companies.” ● This acknowledgement is a step in the right direction, and it’s all thanks to your hard work throughout this campaign. ● Now’s the time to keep the pressure on the Government to implement a public register of beneficial ownership, so corporations and wealthy individuals can no longer get away with robbing billions from the public purse.
The cases of #panamapapers & #paradisepapers increased the pressure on the #eu to combat #tax evasion and #moneylaundering. Jörg Alt (“Tax justice and poverty”), puts forward some proposals. Jesc Europe Comece European Bishops Read it on #europeinfos ►►► http://bit.ly/2EKHjsK