tinydancer
Diamond Member
Oh this is too funny. Here they are going after Bain while they're off shore under the control of a company based in the Caymans. One more time, hypocrisy thy name is liberal.
And I've already seen a few libs on the board just lapping up the bullshit Gawker shovels out.
Great article. Here's part rest is at link.
Apparently, nobody thought to tell the boys on the Romney beat that Gawker Media is part of a shell company incorporated in the Cayman Islands.
Gawkers money lives in the same neighborhood as Romneys money. Call it bipartisanship.
As John Cassidy relates in The New Yorker, Gawkers finances are organized like an international money-laundering operation.
For example:
Much of its international revenues are directed through Hungary, where [bossman Nick] Dentons mother hails from, and where some of the firms techies are located.
But that is only part of it. Recently, [Felix] Salmon reports, the various Gawker operationsGawker Media LLC, Gawker Entertainment LLC, Gawker Technology LLC, Gawker Sales LLChave been restructured to bring them under control of a shell company based in the Cayman Islands, Gawker Media Group Inc.
Why would a relatively small media outfit based in Soho choose to incorporate itself in a Caribbean locale long favored by insider dealers, drug cartels, hedge funds, and other entities with lots of cash they dont want to advertise?
The question virtually answers itself, but for those unversed in the intricacies of international tax avoidance Salmon spells it out:
The result is a company where 130 U.S. employees eat up the lions share of the the U.S. revenues, resulting in little if any taxable income, while the international income, the franchise value of the brands, and the value of the technology all stays permanently overseas, untouched by the I.R.S.
Link and it's worth the read. And I just love the last line in the article to death.
We eagerly await the next Gawker editorial on the need for corporate-tax reform.
Gawker and Bain and the Caymans - By Kevin D. Williamson - The Corner - National Review Online
And I've already seen a few libs on the board just lapping up the bullshit Gawker shovels out.
Great article. Here's part rest is at link.
Apparently, nobody thought to tell the boys on the Romney beat that Gawker Media is part of a shell company incorporated in the Cayman Islands.
Gawkers money lives in the same neighborhood as Romneys money. Call it bipartisanship.
As John Cassidy relates in The New Yorker, Gawkers finances are organized like an international money-laundering operation.
For example:
Much of its international revenues are directed through Hungary, where [bossman Nick] Dentons mother hails from, and where some of the firms techies are located.
But that is only part of it. Recently, [Felix] Salmon reports, the various Gawker operationsGawker Media LLC, Gawker Entertainment LLC, Gawker Technology LLC, Gawker Sales LLChave been restructured to bring them under control of a shell company based in the Cayman Islands, Gawker Media Group Inc.
Why would a relatively small media outfit based in Soho choose to incorporate itself in a Caribbean locale long favored by insider dealers, drug cartels, hedge funds, and other entities with lots of cash they dont want to advertise?
The question virtually answers itself, but for those unversed in the intricacies of international tax avoidance Salmon spells it out:
The result is a company where 130 U.S. employees eat up the lions share of the the U.S. revenues, resulting in little if any taxable income, while the international income, the franchise value of the brands, and the value of the technology all stays permanently overseas, untouched by the I.R.S.
Link and it's worth the read. And I just love the last line in the article to death.
We eagerly await the next Gawker editorial on the need for corporate-tax reform.
Gawker and Bain and the Caymans - By Kevin D. Williamson - The Corner - National Review Online
