Wednesday, April 15, 2009

How can I get this deal? (redux)

In post below on Intel's 1% tax rate, I paraphrased an "Enron insider"...
Here's the full account, from a Washington Post article, Dream Job Turns into Nightmare:
In a small meeting with Skilling in 2000, Robert J. Hermann, the company's former general tax counsel, asked, "Are we really making any money?"

Skilling acted surprised.

"He said, 'Yeah, why? What are you concerned with?' " Hermann later recalled.

Hermann told Skilling he was worried that the company was paying so little in taxes.

"I've always believed if you are making real money you pay taxes," Hermann said.

[emphasis added]
Am I the only one asking HOW Intel managed to achieve a 1% tax rate?

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