As the TARP legislation was being thrown together and rubber stamped last September, Captain Morgan had a lot more to smile about. Buried in the midst of the tax breaks that were extended last fall was a seemingly innocuous one relating to a federal excise tax on rum. In 2008, Diageo Plc (which owns Captain Morgan) agreed to billions in tax breaks from the governor of the USVI in exchange for moving its rum production from Puerto Rico to St. Croix. Now, through that agreement and the TARP extension of a rebate on part of the excise tax, Diageo stands to gain about $2.7 billion in benefits over the next 30 years. No doubt somewhere on the desk of Max Baucus (who recommended the tax breaks) there’s a cocktail napkin that reads ‘The Captain was here’.
Bailout of U.S. Banks Gives British Rum a $2.7 Billion Benefit [Bloomberg]
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ok maria looks absolutely ginormous today.
Greg, wake the fuck up son. Here’s a story – run with it dumbass.
Bank of America Corp.’s (BAC) board of directors is beginning to pursue
succession plans for Chief Executive Ken Lewis, CNBC’s Charlie Gasparino
reported Friday, citing sources. A source warned, however, that the succession
could happen any time between now and “three years from now,” according to
Gasparino. The board has started to talk to possible successors, he said. “The
buzz as of now, though,” Gasparino reported, “is that the firm is looking to
bring in someone from outside.”
I’m surprised ubatv.com hasn’t been mentioned on this site yet. Not much of a “news/business” outlet but decent eye candy. Just turn down the volume to avoid the nj/qns/bklyn accents.
the capt is lame, cruzan is where its at
BLANUS!
Boom, done!
What!?!?
you’re a sad little man, greg…. your writing lacks wit and ingenuity.
do us a favor and stop writing.
ugh. tedious.
is EP back from vacation yet?
i’m going on a hunger strike until she returns.
The Admiral was here