CPreports 10/15/12 – Starbucks Tax Evasion, Red Bull Stratos, Nobel Prize Economics


CPreports 10/15/12 – Starbucks Tax Evasion, Red Bull Stratos, Nobel Prize Economics

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    Don’t we love it how the big corporations get so greedy, that they do anything to get out of paying taxes. Starbucks just outed itself as just that – a big greedy corporation, by avoiding taxes in the UK! The Seattle-based group, with a market cap of $40 billion, is the second-largest restaurant or cafe chain globally after McDonald’s. Accounts filed by its UK subsidiary show that since it opened in the UK in 1998 the company has racked up over 3 billion pounds ($4.8 billion) in coffee sales, and opened 735 outlets but paid only 8.6 million pounds in income taxes. Over the past three years, Starbucks has reported no profit, and paid no income tax, on sales of 1.2 billion pounds in the UK. McDonald’s, by comparison, had a tax bill of over 80 million pounds on 3.6 billion pounds of UK sales. How do they do it you may ask? Well apart from other scary loopholes, Starbucks has been telling the tax man, their business has experienced losses, while to their investors the company has consistently presented very good earnings. Anyhoo, taxes shamxes.personally I would love to see Starbucks go back to the good old days, when they were still serving coffee in real porcelain cups instead of paper cups.so why don’t you use the withheld taxes to create a better experience for your customers?!

    Well he did it, he broke multiple records, including most watched live stream video, as well as, highest skydive and breaking the sound barrier in the process. And all that without breaking a single bone! What a man! Felix Baumgartner flew through the atmosphere at 833.9 miles per hour, as he jumped from a balloon 24 miles above earth, and safely landed to cheers and celebration. However Baumgartner does not remember experiencing the sonic boom because of his jump suit, but hopefully the footage will reveal something?! Congratulations to you Mr. Baumgartner! We are glad you did it and stayed alive doing so! Don’t try this at home kids!

    The Nobel Prize for Economics goes to yet another couple of American academics! Alvin Roth and Lloyd Shapley, for their work on the theory of stable allocations and practice of market design, meaning they were studying the best possible way to allocate resources, such as in school admissions or organs to patients, who need transplants. Mr Roth is a professor at Harvard and Mr Shapley teaches at UCLA. The committee said their work was a form of economic engineering, designing markets for situations where traditional market mechanisms, based on price, are not applicable or do not work well. Congratulations to both Mr. Roth and Shapley! I suggest you read all about it, it really is very interesting stuff!

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