So many companies in USA had reduced corporate income taxes. Does anybody know what UPRR did with their tax cuts ?
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I imagine the execs turning it to gold coins and diving in head first a la scrooge mcduck.
Lance told everyone it would go to the shareholders. He said giving employees increases wouldn’t be the right choice, because we’re better paid than most workers already.
You want to know what they did??? they took that money, divided it among the executive management and key stakeholders. Then, these people took their wives and mistresses to exotic places, when through pounds of coc--ne and enjoyed the heck out of life!!!!!
If you look at their yearly spending report it shows everything in there. Including where that money was spent. But to answer your question, UP spent over two billion on stock buy back.
Taxes aren’t part of operating expense that’s why the OR didn’t drop.
I was wondering the same thing, if UP no longer had to pay 37% but only 23% tax, that 14% should have made the operating ratio go down by at least 14% as that didn’t have to go towards anything else, pure added profit. But, it didn’t change it at all. Very strange!
ELECTIONS HAVE CONSEQUENCES
The same thing that 90% of other corporations did, bought back shares, have executive bonuses and laughed all the way to the bank.
Yep, yep, and UP borrows all the $$ for those buy backs so it legally never shows up as operational expense against revenue to at all effect operation ratio. Pretty tricky huh?
Stock buy backs to benefit the execs. It doubled over the last yr from the previous one. 8 billion dollars. Almost the exact same amount UP collected from the Trump tax cuts. None of it, not one red cent, went into creating new jobs Mr. Trump.
Some times when the Dem tell you the wealthy do not use it at all for jobs or boosting the economy and end up pocketing tax savings they speak truth from experience and having watch it all longer than you have.
No union workers got a bonus from UP. They split that money with the shareholders
All the union guys got a bonus. Oh and something about the Brazos yard.
Bought back shares to then have less shares outstanding. Then when earnings per share go up when it really doesn’t it but makes the executives richer. Less shares to divide the earnings into.