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Old 13.09.2009, 14:33
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Nestle threatens to leave Switzerland

http://news.theage.com.au/breaking-n...0913-fm6j.html

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  #2  
Old 13.09.2009, 14:43
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Re: Nestle threatens to leave Switzerland

If only Cadbury would take their place...
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Old 13.09.2009, 14:49
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Re: Nestle threatens to leave Switzerland

I've been here 20 years and it's this is not the first time I've heard this.
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Old 13.09.2009, 15:39
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Re: Nestle threatens to leave Switzerland

The company would lose significant tax breaks. Isn't it odd a swiss company would threaten to leave switzerland?
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Old 13.09.2009, 17:06
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Re: Nestle threatens to leave Switzerland

I'm curious where they would go?

While I'm sure there are many countries around the world that would love to have a company the size of Nestle providing employment to their citizens, it strikes me that with the banking hoopla in the recent past which has brought with it some more intimate knowledge of how company execs are paid, I think that many of the countries that are "advanced enough" to provide a suitable environment for Nestle would also have some sort of capping of exec salaries on their minds these days.

5 or 10 years down the road there may be fewer news reports of exactly how much VP Humptyshmutz at ThievingCorporation X gets paid in the same article with how many ThievingCorporation X employees got laid off in the past year... but that is not true at this time.
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Old 13.09.2009, 17:50
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Re: Nestle threatens to leave Switzerland

Rubbish, the costs would far outweigh any benefit
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Old 13.09.2009, 19:50
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Re: Nestle threatens to leave Switzerland

Swissinfo is now reporting the story. It seems that any decision to cap salaries will be put to a referendum.
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Old 13.09.2009, 19:52
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Re: Nestle threatens to leave Switzerland

Only this: wouldn't it be nice if the politicians around the world would cap their own salaries and benefits before deciding to cap other people's?
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Old 13.09.2009, 19:59
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Re: Nestle threatens to leave Switzerland

Maybe Mr.Brabeck can go back home to Austria. He would pay substantially more taxes there.
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Old 13.09.2009, 20:29
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Re: Nestle threatens to leave Switzerland

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Only this: wouldn't it be nice if the politicians around the world would cap their own salaries and benefits before deciding to cap other people's?
Well... as politicians seem often to tend to be execs also in the corporate world (at least in the months they're not campaigning or otherwise doing their political jobs), I'd think that at least some of them would be subjected to the salary caps as well.

At least in their private sector jobs anyhow.

Then again, that may be the idealism in me not seeing the whole picture.
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Old 14.09.2009, 09:02
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Re: Nestle threatens to leave Switzerland

It is the usual way of big companies to do some pressure .........
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Old 14.09.2009, 10:53
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Re: Nestle threatens to leave Switzerland

So Nestle's top executives are basically threatening to wreck the company by taking it to a high-tax country just to be able to salvage their own high salaries.

I hope the shareholders are taking note and will remember this at the next AGM.
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Old 14.09.2009, 11:46
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Re: Nestle threatens to leave Switzerland

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Maybe Mr.Brabeck can go back home to Austria. He would pay substantially more taxes there.
He is Belgian.
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Old 14.09.2009, 13:06
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Re: Nestle threatens to leave Switzerland

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He is Belgian.
Now, let me see. Why would a Belgian want to ruin the Swiss chocolate industry? Oh, hang on....

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Old 14.09.2009, 13:15
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Re: Nestle threatens to leave Switzerland

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He is Belgian.
He was born in Austria in a family hailing from north-west Germany. Does he have a Belgian passport for some reason? Did I miss something?
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Old 14.09.2009, 14:01
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Re: Nestle threatens to leave Switzerland

He's Austrian,

the current CEO is Belgium
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Old 14.09.2009, 14:15
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Re: Nestle threatens to leave Switzerland

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He's Austrian,

the current CEO is Belgium
Correct. For some reason I read Bulcke.
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Old 14.09.2009, 14:24
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Re: Nestle threatens to leave Switzerland

Really strange. CEO Bulcke is Belgian. President Brabeck is Austrian. And they are blackmailing the Swiss Government and Swiss people that they will move a Swiss company out?
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Old 22.09.2009, 01:32
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Re: Nestle threatens to leave Switzerland

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Really strange. CEO Bulcke is Belgian. President Brabeck is Austrian. And they are blackmailing the Swiss Government and Swiss people that they will move a Swiss company out?
It would be blackmailing if the threat could seem somewhat real. But it doesn't. Switzerland has many major companies headquarters because of its very aggressive dumping fiscal strategy. Without mentioning the "secret bancaire". Just too good to consider moving out....
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Old 22.09.2009, 11:02
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Re: Nestle threatens to leave Switzerland

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It would be blackmailing if the threat could seem somewhat real. But it doesn't. Switzerland has many major companies headquarters because of its very aggressive dumping fiscal strategy. Without mentioning the "secret bancaire". Just too good to consider moving out....
The "secret bancaire" may be of interest to individuals and also maybe privately held companies, but companies who are listed and traded on the stock exchange are required to publish annual reports in which, among others, they make public their accounts. Hence secret and anonymous bank accounts are of little use to them.
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