Burger King buys Tim Horton's- WHAAAAAT???

[MarPar]

Small businesses are the ones hurting the worse from all the regulation

 

[moparcanuck]

Timmies is more of an institution than anything else. It was the first coffee and donut store to become successful up here.

I also prefer McD's coffee and their muffins are far superior. Ever go to a McD'S for breakfast? It's packed with retired people. And I must say that for $7, A&W's bacon and eggs and coffee are a great deal. Their coffee is as good as McD's.

 

[EV2 GTX]

As for the OPs question of "What do you Canadians think about this?", I don't think I'll notice the difference. It's not really outstandingly new. For example, this same Tim Horton's chain was owned by Wendy's from 1995 to 2006 and I don't think people could tell when they came in or left the scene...[/QUOTE]

True...from a consumer level things won't be very noticeable. One thing I've noticed out here is that Burger King is not a big hit...most only stay open for a while. There are a few locations that seem to make it, but are not overly busy and I've often wondered why.

I would think Timmies would certainly boost sales up here for BK....if things are similar in other Canadian cities.

 

[Moparsmitty]

This type of merger/acquisition is only happening because the tax codes in the U.S. have been completely f@#&ed up by the former and present politicians in the U.S. congress. Corporations and large businesses have bought and paid for the tax loopholes that they have now and some major U.S. corporations not only don't pay any taxes at all, they actually get money from the U.S. treasury in the form of tax credits and allowances. Exxon, General Electric, and several other large corporations haven't paid any federal taxes in decades. If Burger King is paying the top corporate tax rate it is only because they haven't spread enough money around Washington D.C. to get the tax rates and loopholes they want.
Sure I know that there is waste, fraud and abuse in the federal government. There always has been and probably always will be, but the money to pay for legitimate government expenses has to come from somewhere, and if it's not coming from Exxon, General Electric or myriad other corporations that don't pay taxes, the money will come from small businesses and the middle class.
My point is that the people who work in this country pay for everything eventually, and in return they get no respect from anyone. Especially the politicians in D.C.
Rant over.

 

[Hemi Rebel]

This type of merger/acquisition is only happening because the tax codes in the U.S. have been completely f@#&ed up by the former and present politicians in the U.S. congress. Corporations and large businesses have bought and paid for the tax loopholes that they have now and some major U.S. corporations not only don't pay any taxes at all, they actually get money from the U.S. treasury in the form of tax credits and allowances. Exxon, General Electric, and several other large corporations haven't paid any federal taxes in decades. If Burger King is paying the top corporate tax rate it is only because they haven't spread enough money around Washington D.C. to get the tax rates and loopholes they want.
Sure I know that there is waste, fraud and abuse in the federal government. There always has been and probably always will be, but the money to pay for legitimate government expenses has to come from somewhere, and if it's not coming from Exxon, General Electric or myriad other corporations that don't pay taxes, the money will come from small businesses and the middle class.
My point is that the people who work in this country pay for everything eventually, and in return they get no respect from anyone. Especially the politicians in D.C.
Rant over.

Really?

http://dailycaller.com/2013/05/29/nyt-oil-companies-paid-the-most-in-taxes/

 

[Richard Cranium]

Highest corp tax rate in world......but how many loopholes are there? Small businesses are the ones hurting the worse from all the regulation and after what our president said about businesses leaving for the tax break are unpatriotic.....well, I hope they all leave! Maybe we can flush the bad policies and bad apples and start with a clean slate. I know this is on the hem line of politics and hope it doesn't get any deeper. It's a shame that large businesses are so affected by politics.

Big businesses can afford to buy up a foreign company, move their corporate headquarters out of the country and reap the benefits of lower taxes which of course mean higher corporate salaries and profits. Unfortunately, small businesses like me don't have that luxury. But it shows how stupid our politicians really are; instead of lowering taxes to be competative, they loose it all. Dear Leader goes out a couple weeks ago and in a speech, he chastises big business for doing what was passed by law for them to do. I guess these idiots just don't get the concept of getting something in the way of taxes is better than getting no taxes.

Dipshits.

 

[Moparsmitty]

Really?

http://dailycaller.com/2013/05/29/nyt-oil-companies-paid-the-most-in-taxes/

I'm sorry, I shouldn't have used Exxon as an example because their tax situation is so complicated and secretive that no one person may know what they actually pay or don't pay in taxes. If you are talking Income taxes, yes, Exxon pays corporate income taxes, but that doesn't take into account tax credits, drilling incentives, oil depletion allowance, depreciation on facilities and equipment and hundreds of other accounting tools that they use to lower their total tax load on federal, state and local levels.
I could post lots of other articles like this one, http://billmoyers.com/2014/05/29/10-companies-that-dodge-corporate-taxes/ say the opposite of the link that you posted, but that doesn't really mean much. I admit that I have no way of knowing what their real effective tax rate is.

 

[Photon440]

From the CBC article:

Executives from the companies involved also poured cold water on theories that the move was an elaborate tax inversion chiefly designed to bring down Burger King's tax rate. Canada's basic corporate tax rate is about 26 per cent, while the U.S.'s is around 35 per cent.

But Burger King already managed to get its tax rate down to 27.5 per cent last year, company filings show. Tim Hortons paid 26.8 per cent tax in Canada last year, according the its annual report.

"We don't expect our tax rate to change materially" Burger King CEO Daniel Schwartz said on the call. Burger King will continue to pay federal, state and local taxes on U.S. earnings, as will Tim Hortons keep paying Canadian taxes, Schwartz reiterated

 

[bm02tj]

Timmies no longer makes donuts on site they are frozen and thawed
Not as good any more I buy truck stop coffee 7-11 flying j etc

 

[Dennis H]

Just ate at BK. "You guys are really on the news today". Window: Why?

 

[Hemi Rebel]

Americans for tax fairness is a left wing organization. Billmoyers said Exxon paid zero taxes. Thats a crock. Believe whatever you want. I will believe the NYT citing data from the s&p500.


No wait. I stand corrected. They dont pay taxes. They pass that burden off to the consumer. So yeah, lets get 'em. Make them pay more. Uh.....wait....no, bad idea.

 

[kdtjb]

Calling anyone unpatriotic for trying to pay less taxes these days is like calling Paul Revere unpatriotic for yelling the British are coming.

 

[Dako]

Calling anyone unpatriotic for trying to pay less taxes these days is like calling Paul Revere unpatriotic for yelling the British are coming.

Well, 'he' is the Burger King...maybe he should have his own kingdom?...could have it in that space between the U.S. and Canada...

 

[Furyous]

I for one will still eat at BK.. Ex Air Force and it does not bother me one bit if they are still Home Office here or not. Until the idiots cut back in DC this will continue to happen. I can assure you that if you owned BK you would have done the same thing.. It is not about losing money it is about making it. No one starts a business that is a non profit to break even. I work for the government now and every year when May and June gets here we have to buy a bunch of nothing as we are a non profit. Basically we take tax money to operate and get to much and waste it instead of giving it back. Just wrong.

 

[Dako]

I can assure you that if you owned BK you would have done the same thing..

No. You can assure me that if you owned BK that you would have done the same thing, but you cannot assure that I would have done the same thing. I am a 'matter of principle' kind-a-guy. Always have been.

 

[Hemi Rebel]

I for one will still eat at BK.. Ex Air Force and it does not bother me one bit if they are still Home Office here or not. Until the idiots cut back in DC this will continue to happen. I can assure you that if you owned BK you would have done the same thing.. It is not about losing money it is about making it. No one starts a business that is a non profit to break even. I work for the government now and every year when May and June gets here we have to buy a bunch of nothing as we are a non profit. Basically we take tax money to operate and get to much and waste it instead of giving it back. Just wrong.

exactly. Bk isnt the only one. Something like 21 companies have moved this year, and more will follow.

 

[Pops1967GTX]

If finding the dognuts are better at the independent stores rather than the chains.

I figure you Richard, more a Muffin man.........

 

[Richard Cranium]

I figure you Richard, more a Muffin man.........

Sadly, I've morphed into a muffin top.

 

[Cranky]

Someone mentioned that BK's tax rate is pretty close to what Horton's is paying now so how is this breaking any principles? Also, no laws are being broken either. Back when 9-11 happened, all the air line stocks took a fairly big hit so I bought in and took profit when the stock came back up. Some chastised me for 'taking advantage' of a bad situation. Bad principles? I broke no laws and didn't even hurt a fly. Principles are.....fundamental norms, rules, or values that represent what is desirable and positive for a person, group, organization, or community, and help it in determining the rightfulness or wrongfulness of its actions. Principles are more basic than policy and objectives, and are meant to govern both.

And everyone has a different definition of what they think principles are. Now there's no way I would go and loot someones home that just got hit by a storm or rob anyone for that matter.....but I see nothing wrong with BK trying to operate in a better environment and grow the company.

 

[YY1]

Cranky, you and I were being patriotic.

Pretty much anything bought when the market resumed made money, as TV news and financial analysts were shouting about how people were "betting against America" by selling off stocks en masse.