When the news leaked last Tuesday that Walgreens would not seek a controversial tax inversion, media outlets jumped to cover this latest twist in the inversion summer saga. The wave of news coverage is a lot to keep tabs on, which is why we’ve compiled some of the best stories about Walgreens’ decision not to decamp below.
“Inversion” was the topic du jour of the business world this summer: a tax avoidance scheme that allows U.S. corporations to migrate to a foreign land on paper, while retaining virtually every aspect of their operation at home. The move could have saved Walgreens billions at the expense of American taxpayers, but this week the company chose not to do an inversion after a chorus of opposition from consumers and politicians across the nation.
This was a rough week for would-be corporate tax dodgers. The Senate Finance Committee on Tuesday held a hearing on the topic of “inversion,” a tax-skirting tactic that companies use to legally reincorporate in another country on paper, where a key Senate leader referred to the trend as a virus infecting the U.S. economy.
Walgreens may soon renounce its US citizenship for a leaner tax bill abroad, and many American consumers are none too happy. At least that was our impression after mulling through hundreds of tweets, comments and other online musings since the release of Offshoring America’s Drugstore with Americans for Tax Fairness this past June.
Walgreens, our country’s biggest pharmacy chain, may move its corporate address overseas to avoid paying its fair share of taxes. It may soon shift its corporate address from Illinois to Switzerland, a tax haven. This may let the company avoid $4 billion in U.S. taxes over the next five years, leaving the rest of us to pick up the tab.
An executive of Walgreen Co. abused his position as the Indiana Board of Pharmacy (IBOP) President to help gain approval for a controversial Walgreens pharmacy model called “Well Experience,” an ethics complaint filed today alleges.
Change to Win Retail Initiatives (CtW) has filed a complaint with the Florida Department of Health, alleging that a Walgreens’ pharmacy format—named “Well Experience”—creates unlawful risks to public health and patient privacy. The complaint comes as drugstore chains push for changes to the practice of retail pharmacy in Florida…
CVS announced today that they’ll stop selling cigarettes on October 1st, a move praised by many in the media and the President himself. With this big news from the second largest chain drugstore in the United States, attention naturally turned to the industry leader, Walgreens.
Did you get your flu shot? Now may be the best time, as we head into peak of both the holiday and flu seasons. Retail pharmacies are a convenient place to get vaccinated, but a new study shows that Walgreens isn’t always giving accurate information to customers seeking the shot.
In the wake of a recent report finding risk to patient privacy, drug security and public health at a new type of Walgreens pharmacy, Senator Edward Markey (D-MA) has penned a letter to the company questioning the model.
With the recent slew of TV news investigations into expired sale tags and missing Balance Rewards points at Walgreens across the country—how can you be sure you’re getting the advertised price?
Are you paying too much at America’s largest drugstore chain? Recent investigations by CBS news teams across the country have found numerous examples of overcharging at Walgreens stores.
A new report finds that Walgreen’s attempts to “revolutionize” the pharmacy may pose risks to patient privacy, medication accuracy and drug security. Findings include increased pharmacist distractions, violations of patient privacy and inadequate medicaition security.