@9meb - Good luck with that.
25 replies (most recent on top)
9pwy: Use your head. If trump wins tomorrow will be a good buy day in the market. I'm drinking shots right now! Washington DC voted 93% Clinton. They are the establishment. I'm ready to throw the bums out and give a new guy who is not supported by democrats or republican establishment a chance.
@9qxr - Don't be so glib. Looking at the election results and stock market futures tonight, the anti-US troll(s) might turn out to be right :-(
8tbx: will do. Please send me your account number and password. I'll mail the $ to you.
You people need perspective. The large amount of dollars the big corporations get away with is nothing on the small amount of dollars that the little common man and woman here and there gets away.
the end of the usa has come... take as much cash as possible from banks TODAY!!!
@8jyu, so you are a tax dodging thief? Got it.
Bet you're dumb enough to vote for the Big Cheeto too.
What other examples do you need to see and read about to be convinced that the rich and powerful, big business, and governments serve themselves first and foremost at the expense of the common man and woman. That's the reason that after leaving Chevron, I decided not to look for a conventional job, but instead went into business for myself. I started a few small cash businesses and they're doing very well. I intentionally report just enough income to avoid paying federal taxes. I refuse to contribute any more money in taxes to a corrupt system.
"Australia's oppressive tax structure has been abusing and taking advantage of business and free enterprise for years". This is not true with Australia's public owned gas resources.
For the same volume of gas leaving its shores, Qatar's government will receive $26.6 billion in royalties from the multinational companies exploiting its offshore gasfields, whereas Australia's government will receive just $800 million in royalties from the multinational companies exploiting its offshore gasfields.
http://www.smh.com.au/federal-politics/political-news/turnbull-government-called-on-to-explain-where-australias-offshore-gas-wealth-is-going-20161009-gryaoi.html
I agree, later is better: http://www.abc.net.au/news/2016-06-09/chevron's-$7b-loan-aims-to-shift-income-offshore,-critics-say/7498002
Is this the same free enterprise that gave the world such wonders as Enron, and banks which caused the GFC, abusing and taking advantage of shareholder and public funds for years?
Yes, that is correct, Australia's oppressive tax structure has been abusing and taking advantage of business and free enterprise for years. The tax advantages Chevron was utilizing are no different than anywhere. Most countries welcome foreign businesses and investors to their playing field to reap the benefits of the satellite businesses, service companies, and thousands of jobs. Australia would rather shoot themselves and their citizens in the foot.
What are you doing linking a year old article for anyway, just discovered the internet, @K8EjKa3-7ico ?
I found this: http://www.businessinsider.com.au/why-australias-landmark-tax-ruling-against-chevron-is-a-first-battle-in-the-global-war-on-profit-shifting-2015-11
Chevron executives would be less worried about Gorgon and Wheatstone cost (the loan), more worried about the gas price (the income to service the loan) to optimize their circumstance.
As I see it, there is an almost unlimited amount of cash about for loans. Gorgon and Wheatstone are merely the security to get the loan. Chevron corporation would be borrowing at something like 2% interest rate but could be on-charging the subsidiaries (like Chevron Australia here) at something like 9% interest rate (a 7% interest rate credit) all with nothing more than financial engineering via transfer pricing. All that the subsidiaries have to do is service the loan (and preferably with no profit and with no tax in Australia to shift the profit from high taxing Australia to low taxing 'somewhere else more appropriate'), with Gorgon and Wheatstone there to generate the income to service the loan.
The more that Gorgon and Wheatstone cost, the more that Chevron corporation borrow. The bigger the borrowing, the bigger the on-charging.
That's right, 1cms. Georgie Boy was one of those identified for not conserving water by diverting water for his vineyard. What a smug bastard. J. Watson is another selfish sh!t who thinks he's above the law.
Isn't he the o e who was ID'd as one of the biggest water wasters in California by watering his grapes? Don't forget the wine!!
That fat blowhard of G. Kirkland got out at just the right time, by design or otherwise. He's now sitting poolside with his friends and laughing his @ss off while checking his millions on his iPad and turning juicy steaks on the grill. Isn't that D--k the luckiest bastard alive.
no-one at the ABU fiascos have been held accountable and they have just been reassigned. This is ridiculous ... Kirkland was famous at selecting suppliers because he felt like it and then the company was forced to honor his word even when it was against our best interest. It took forever for him to get off the train ....
Shareholders elect boards, boards hire and fire execs. Neither is doing their jobs. John's doing his job, his just not very good at it.
Board advises execs. Execs elect board. See the problem?
@1jdv, I agree with you, but that will never happen. It's like asking the fox to guard the hen house.
Someone needs to be fired if there is any shred of accountability. And I'm talking some one high up the chain of command who is paid to ask the right questions and put qualified people in the right positions.
You must be joking cvx with PRC couldnt organise a cake raffle ... the sickening thing is it goes on and on ...all the hanger onerers ..still here spruking there wares nothing but snake oil salesmen
just astonishing that the team did not calculate properly ... talk about giving the reigns to the suppliers. How can they not validate the estimates ... wrong people are in wrong positions
https://au.news.yahoo.com/thewest/wa/a/33051492/wheatstone-lng-blows-out-by-6-5b/
Blow out cost by 6.5 billion Aussie dollars. Get after it ya mongrels.