Why Stanley Works Is No Loss to Bermuda - 1026 Words

Why Stanley Works is no loss to Bermuda |[pic] | |Cathy Duffy | [pic] Insurance Issues by Cathy Duffy [pic] Some are reacting to the Stanley Works decision to remain in the US as if it was really bad news for Bermuda. The decision may do more good for Bermuda than bad. With Stanley Works making the decision to stay in Connecticut, the pressure will finally be off Bermuda. Now we can go about doing what we do best - providing an infrastructure that does not strangle business. The US politicians who fought for this Patriot Tax issue can now move on to something else. Stanley Works to the politicians was more about winning the battle and not about winning the war. These†¦show more content†¦What picture of Stanley Works will be painted then? Or will there be no mention of Stanley Works moving its production? After all it would still be an American company on paper despite the majority of its manufacturing and jobs being moved overseas. Bermuda has not lost out by Stanley Works choosing to remain in the US. It has actually done us a favour because the US politicians will now move on to their next target. We can finally go about attracting companies that will add value to our economy by choosing to come here not just for tax reasons but because they feel they can operate more effectively and efficiently. Were tired of being called a tax haven anyway. Were much more than that. We are an infrastructure which has not become overburdened with government red tape and interference. And as Bala Nadarajah [Director - Bermuda Monetary Authority] says, our government process is not a catch-me-if-you-can type of regulation, rather the emphasis is on self disclosure. Companies that choose us because we can help them with their global expansion will still come here. Companies wanting us for tax reasons may have to think otherwise. What the US politicians need to be careful of is not adding to the woes of their deteriorating economy by forcing their companies to become noncompetitive with the rest of the world. According to the July 31 edition of the Economist: New data suggest that Americas recession last year was worse, and its recovery this year isShow MoreRelatedCoca Col Strategic Expansion Of Businesses2291 Words   |  10 Pageswell-being of the Indian citizens (â€Å"Controversies†). In terms of tax inversion, the Coca Cola Company’s headquarters is still located in the U.S., abiding by all its corporate responsibilities, but its keeping its earnings offshore in places like Bermuda and the Cayman Islands that levy no corporate income tax (Gunther). Solutions for the Topic: One of the key components in achieving productive globalization for a business is to develop a sound entry strategy and operational design before launchingRead MoreThe Risk Management Function Of A General Insurer9457 Words   |  38 Pagescontingency and crisis management plans In summary, the risk evaluation process is required to assess: - the financial value of a given risk - probability - impact of self-insurance and deductibles - the possibility of the cost-effectiveness of loss elimination, reduction and control measures, and - the viability of risk transfer to insurers or to a facility such as a captive 3. Risk control (and elimination) ïÆ' ¨ which by definition, comprises: †¢ risk avoidance †¢ risk reduction †¢ risk preventionRead MoreLogical Reasoning189930 Words   |  760 Pagespart of the work under the following conditions: (1) Attribution You must attribute the work in the manner specified by the author, namely by citing his name, the book title, and the relevant page numbers (but not in any way that suggests that the book Logical Reasoning or its author endorse you or your use of the work). (2) Noncommercial You may not use this work for commercial purposes (for example, by inserting passages into a book that is sold to students). (3) No Derivative Works You may notRead MoreProject Managment Case Studies214937 Words   |  860 Pagesby sales representatives orwritten sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. For general information on our other products and services or for technical support, please contact our Customer Care Department