Eighty-three of the 100 largest publicly traded U.S. corporations and 63 of the 100 largest publicly traded federal contractors had subsidiaries in the Cayman Islands, Bermuda, Switzerland, Luxembourg and other offshore tax havens in 2007, according to the latest report from the US Government Accountability Office. These included oil companies, defense contractors, health insurers, retailers, pharmaceutical companies, and failed or bailed out banks such as:
Citigroup: 427 tax haven subsidiaries ~ Morgan Stanley: 273 ~ Bank of America: 115 ~ Wachovia: 59 ~ Lehman Brothers: 57 ~ JP Morgan Chase: 50 ~ Goldman Sachs: 29 ~ Merrill Lynch: 21 ~ American International Group (AIG): 18 ~ Countrywide Financial: 7 ~ News Corp: 152 ~ Procter & Gamble: 83 ~ Pfizer: 80 ~ Oracle: 77 ~ Marathon Oil: 76 ~ PepsiCo: 70 ~ Caterpillar: 49 ~ Merck: 44 ~ Boeing: 38 ~ Dow Chemical: 35 ~ Fluor Corp: 34 ~ Exxon Mobil: 32 ~ UnitedHealth Group: 11 ~Best Buy: 12 ~ Target: 8.
1 comment:
No wonder the Cayman's have this big medical community plan in the works and they are comparing it to the financial strides made there by the ones listed in your post and then some!
http://ducknetweb.blogspot.com/2010/04/cayman-islands-partner-with-india.html
As you can see this is not US dollars going here for the development but they want to collect plenty.
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