|Wesson oils Rahm|
INVERSION -- Rahm's union-hating pals and campaign funders at Walgreen's now say they won't re-incorporate in Switzerland as planned. The re-incorporation — in which a company’s headquarters relocates overseas for tax purposes — is called a corporate inversion
With political pressure mounting from the White House down, Walgreen Co. is poised to announce Wednesday that it will keep its corporate headquarters in north suburban Deerfield...Last month, Obama called companies that re-incorporate overseas to avoid taxes “corporate deserters.”It seems like Walgreen CEO Greg Wasson likes to pop into Chicago every once in a while to help Rahm push one or another of his hare-brained corporate school-reform schemes in exchange for more tax breaks. Remember when Rahm cooked up this one (while swimming) with Wasson to offer CPS parents gift cards loaded with 25,000 ”customer loyalty” points (worth $25) for attending report card pick up?
Also remember back in 2011 when the mayor and Wasson announced their “Chicago Hometown Investment Initiative” where Walgreen would supposedly provide hundreds of new jobs in exchange for $47 million in state tax credits and grants.