Donald Trump slams Pfizer's 'disgusting' megamerger

[sinkspur]

http://www.businessinsider.com/donald-trump-pfizer-allergan-deal-inversion-2015-11

Donald Trump slams Pfizer's 'disgusting' megamerger

Colin Campbell

Real-estate mogul Donald Trump isn't happy with Pfizer and Allergan's announcement on Monday that the two companies would merge to form a corporate drug-making behemoth.

"The fact that Pfizer is leaving our country with a tremendous loss of jobs is disgusting," he said in a statement to Business Insider.

The Republican presidential front-runner added: "Our politicians should be ashamed."

The $160 billion merger would allow Pfizer to relocate its headquarters from the US to Ireland, where Allergan is incorporated and the corporate tax rate is much lower.

This is an example of a so-called corporate inversion, a hot-button issue on the 2016 campaign trail. Trump has been particularly critical of US companies that shift their operations oversees. For example, he has repeatedly vowed never to eat Oreo cookies again to protest Nabisco moving a plant to Mexico.

The two leading Democratic presidential contenders — US Sen. Bernie Sanders (I-Vermont) and former US Secretary of State Hillary Clinton — also blasted the Monday megamerger announcement.

"For too long, powerful corporations have exploited loopholes that allow them to hide earnings abroad to lower their taxes. Now Pfizer is trying to reduce its tax bill even further," Clinton said in a statement. "This proposed merger, and so-called inversions by other companies, will leave US taxpayers holding the bag."

Sanders said: "The Pfizer-Allergan merger would be a disaster for American consumers, who already pay the highest prices in the world for prescription drugs. It also would allow another major American corporation to hide its profits overseas."

Pfizer defended the merger as "a great deal for America."

"It allows us to continue to sustain an investment of approximately $9 billion mainly spent in the United States," Pfizer chief executive Ian Read said in an interview with Allergan CEO Brent Saunders and CNBC's Meg Tirrell after the announcement.

"We have 40,000 combined employees in the United States," he added. "So I think it's a great deal."

[sinkspur]

Trump, of course, joins with Sanders and Hillary on slamming a merger that will bring efficiencies to both companies.

I fully expect his supporters to join him in bashing the ability of corporations to maximize profits and reduce taxes.  Trump is, after all, a Democrat especially when it comes to his eminent domain practices of kicking people out of their homes for his lavish casinos and hotels.

[kevindavis007]

Hey Donald, why don't you buy stock in the company??

[kevindavis007]

Trump, of course, joins with Sanders and Hillary on slamming a merger that will bring efficiencies to both companies.

I fully expect his supporters to join him in bashing the ability of corporations to maximize profits and reduce taxes.  Trump is, after all, a Democrat especially when it comes to his eminent domain practices of kicking people out of their homes for his lavish casinos and hotels.

Two things:


1. I'm sure he did mergers himself and laid some people off
2. That is a normal practice.. When companies merge, they layoff the redundant staff. Everyone with brains know that..


But of course Donald doesn't have brains

[sinkspur]

Two things:


1. I'm sure he did mergers himself and laid some people off
2. That is a normal practice.. When companies merge, they layoff the redundant staff. Everyone with brains know that..


But of course Donald doesn't have brains

I haven't ONCE heard Trump say anything about corporate taxes.  Instead, he bitches about fellow CEOs trying to maximize profits as he has always done.

In fact, Trump wants the wealthy to pay MORE. 

The guy's a Democrat.  He just can't help it.

[kevindavis007]

I haven't ONCE heard Trump say anything about corporate taxes.  Instead, he bitches about fellow CEOs trying to maximize profits as he has always done.

In fact, Trump wants the wealthy to pay MORE. 

The guy's a Democrat.  He just can't help it.

I agree.. He is a Democrat.

[Scottftlc]

I know I'm on a thread where this won't be popular, but did you bother to actually read what Trump said before you lumped him in with Hillary and Sanders?

His quotes are in sentences 2 & 3 of the article...he doesn't like that it happened, he doesn't like the jobs moving and he says that our politicians should be shamed.  This sounds wholly in line with Rubio's critique (given very eloquently in a Republican debate) of our tax system that makes this kind of move beneficial to companies.

You guys are jumping to conclusions once again based on a reporter wanting to write a story in a particular way and making hyperbole out of comments that don't justify that take.  But Trump always gets top billing, so I doubt he's crying about it.

[kevindavis007]

I know I'm on a thread where this won't be popular, but did you bother to actually read what Trump said before you lumped him in with Hillary and Sanders?

His quotes are in sentences 2 & 3 of the article...he doesn't like that it happened, he doesn't like the jobs moving and he says that our politicians should be shamed.  This sounds wholly in line with Rubio's critique (given very eloquently in a Republican debate) of our tax system that makes this kind of move beneficial to companies.

You guys are jumping to conclusions once again based on a reporter wanting to write a story in a particular way and making hyperbole out of comments that don't justify that take.  But Trump always gets top billing, so I doubt he's crying about it.

Somehow I question your quote since you seem to support a reality show person who has declared bankruptcy 4 times.

[sinkspur]

I know I'm on a thread where this won't be popular, but did you bother to actually read what Trump said before you lumped him in with Hillary and Sanders?

His quotes are in sentences 2 & 3 of the article...he doesn't like that it happened, he doesn't like the jobs moving and he says that our politicians should be shamed.  This sounds wholly in line with Rubio's critique (given very eloquently in a Republican debate) of our tax system that makes this kind of move beneficial to companies.

You guys are jumping to conclusions once again based on a reporter wanting to write a story in a particular way and making hyperbole out of comments that don't justify that take.  But Trump always gets top billing, so I doubt he's crying about it.

Have you ever heard Trump criticize our corporate tax rates?  I never have.

No jobs are moving.  Corporate headquarters will move. Yes, there will be consolidation of jobs as there always is in a merger.

Has Trump never laid anybody off?  I recall his casino in Atlantic City closed, costing jobs.

Trump needs Democrats to win, so he'll slam a couple of solid companies to suck in those corporate-hating Democrats (said Democrats not realizing that Trump is the consummate corporate chieftain).

[DCPatriot]

Somehow I question your quote since you seem to support a reality show person who has declared bankruptcy 4 times.

Have I told you how much I absolutely love your chosen avatar?   

Many times when I'm reading your posts and see Matt Damon in the space suit....

I just want to say thank you!   

[Scottftlc]

Have you ever heard Trump criticize our corporate tax rates?  I never have.

Yes, I have, quite often he says that corporate taxes are uncompetitively high and that the tax system incents companies to keep money offshore.  You could hear it too - or read it for that matter in his tax plan.

[Scottftlc]

Somehow I question your quote since you seem to support a reality show person who has declared bankruptcy 4 times.

Ah, you're the broad thinking, open minded kind...

[kevindavis007]

Have I told you how much I absolutely love your chosen avatar?   

Many times when I'm reading your posts and see Matt Damon in the space suit....

I just want to say thank you!