Marketplace for Tuesday July 15, 2014
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Congress appears headed toward a temporary spending bill to keep the Highway Trust Fund from going broke next month. Lawmakers have been unable to agree on a long-term funding mechanism for repairing and upgrading the national infrastructure. Plus: AbbVie has at last managed to snare Irish pharma company Shire. The merger isn’t about new markets or cool technology - it’s about cutting taxes, using a so-called corporate inversion. We explain what an inversion is, and explore the pros and cons of this strategy. Finally, what to do with a comic-book character who sprang to life as a perpetual teen-ager 73 years ago? Project him into the future. Make him a zombie. Tomorrow, kill Archie.
Posted In: corporate inversion, Mergers and Acquisitions, Taxes
Abbvie will pay $53 billion to buy Shire, with a view to cutting its tax burden.
Posted In: Economy, government spending, funding
Governing by crisis makes the federal government wasteful and inefficient.
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Pistol Pump Funk
Let It Burn