And David Shariatmadari means those scare quotes. In this excerpt from his new book Don’t Believe a Word, he takes apart what he calls “the cult of untranslatables,” taking apart some regularly cited examples of such words and arguing that the mystique around them has some genuinely pernicious effects. – Literary Hub
Danielle Chaim (J.S.D. 2020, Columbia), The Perils of Common Ownership: Flooding Strategy:
The increased concentration of shares in the hands of large institutional investors has triggered a phenomenon which I term “flooding.” Under this phenomenon, institutional investors push their portfolio firms towards higher levels of noncompliance. Given limited enforcement capabilities, the simultaneous increase in the levels of noncompliance reduces the probability that such behavior will be detected and adequately penalized. Consequently, the presence of large, diversified shareholders destructs the inherent trade-off between compliance and enforcement. Misconduct becomes less risky and more rewarding, changing the way in which public firms approach legal risks.
This Article focuses on the applicability of flooding in the context of tax avoidance. Data suggests that the emerging ownership pattern in the United States increases levels of corporate tax avoidance. In this Article, I argue that this increase results in flooding, overwhelming the tax agency, now faced with new enforcement challenges.
CEO pay in perspective how big is that rip-off anyway?
…the B-ratio I proposed here, measured as the CEO pay over the total payroll of the firm, relates CEO pay to the salary of each employee and may be the most relevant and informative figure on CEO pay as perceived by the firm’s employees themselves. How much a typical employee of the S&P500 firms implicitly “contributes” to the salary of his/her CEO? An amount of $273 on average or 0.5% of one’s salary, that is, one half of one percent on an individual salary basis.
CEO pay in perspective how big is that rip-off anyway?
…the B-ratio I proposed here, measured as the CEO pay over the total payroll of the firm, relates CEO pay to the salary of each employee and may be the most relevant and informative figure on CEO pay as perceived by the firm’s employees themselves. How much a typical employee of the S&P500 firms implicitly “contributes” to the salary of his/her CEO? An amount of $273 on average or 0.5% of one’s salary, that is, one half of one percent on an individual salary basis.
A new Away message?
Following up on my previous posts:
Google Lowered 2015 Taxes by $3.6 Billion Using 'Double Irish With A Dutch Sandwich' Tax Structure
- Google Reduced its Tax Rate to 2.4% With Aggressive Tax Strategies
Los Angeles Times, Google to End Use of ‘Double Irish’ as Tax Loophole Set to Close:
Google has overhauled its global tax structure and consolidated all of its intellectual property holdings back to the U.S., signaling the winding down of a tax loophole estimated to have saved American companies hundreds of billions of dollars.
The internet search company said on Tuesday the move was designed to simplify its corporate tax arrangements and was in line with OECD efforts to limit international tax avoidance, as well as recent changes to U.S. and Irish laws.
Google’s actions came ahead of the close of the so-called double Irish tax loophole, which has been used by U.S. companies to channel international profits through Ireland and on to tax havens like Bermuda — putting them outside the U.S. tax net. That led American companies to amass more than $1 trillion offshore as of the end of 2017, when President Trump’s tax overhaul changed the treatment of overseas profits.
Problems with wishes
— Charlie Huenemann (Utah State) converses with the genie in the bottle
Executive pay is out of control