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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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  • Walgreens Tanks $7.91 Billion Dollars As CEO Caves To Obama Threats 3 comments
    Aug 6, 2014 4:56 PM | about stocks: WAG
    WEDNESDAY, AUGUST 6, 2014

     

    Walgreens Looses 7.91 Billion Dollars after Obama Threats

    Walgreens (NYSE:WAG) was eligible to do a totally legal tax inversion after acquiring some foreign businesses. After threats from President Obama and Senator Dick Durbin of Illinois the CEO of Walgreens, Greg Wasson was backed into a corner and announced the company would not complete the inversion process they were considering. Immediately after the announcement the Company's stock tanked 14% causing a loss to stockholders of over $7.91 billion dollars.

    LINK TO FULL STORY

    Look at the chart:

    Stockholders of this and other stocks should follow this story closely as the Obama White House continues it's crusade against stockholders.

    Posted by Jim Van Meerten Jim van meerten at 4:48 PM

    Stocks: WAG
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Comments (3)
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  • Dividend Mantra
    , contributor
    Comments (1231) | Send Message
     
    Crusade?

     

    It's not a loss unless you sell.

     

    Meanwhile, I will be losing real dollars when MDT completes their tax inversion and my shares are sold...causing a taxable event for me.

     

    I agree corporate tax policies need a massive overhaul, and possibly a tax holiday. But I applaud WAG's move. I'm now interested in buying shares in the company after this.

     

    Best wishes.
    6 Aug, 05:01 PM Reply Like
  • Rose_Colored_Glasses
    , contributor
    Comments (935) | Send Message
     
    With all due respect, that is one of the lamest comments I have read.
    6 Aug, 08:48 PM Reply Like
  • Juliovolcano
    , contributor
    Comments (38) | Send Message
     
    I don't know what the fuss is about Walgreens. If anyone has actually visited a store recently, and I have, several in the LA area. The stores are in great locations, but the lines are always long because they never have enough staff servicing customers. Attention to detail drives profitability. Not tax swaps that only follow the "intent" and not the "actual".
    7 Aug, 01:43 AM Reply Like
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