•
115-
Simon Cowell at MIPCOM
2014
• 101-
Celebrity Scene's PeteAllman
honors
Mother
• 115-
Simon Cowell at MIPCOM
2014
• 101-
Emmy Nominees -
2014Winners •108-
Buffett + $Bill = Burger King-
"INVERSION"
Deal
•••
TVI's
Person of theWeek, Warren Buffett
greases $3 Billion to make the
Burger King Inversion deal
happen
••••
The
$11.4 billion dollar transaction
for Canadian coffee-and-doughnut
chain Tim Hortons Inc., with
headquarter in Canada is the
latest company to undergo an
inversion, which happens when an
American company uses a merger to
reincorporate as a foreign
one.
••••
In such a maneuver, which is
legal, a U.S. company buys a
foreign competitor in a nation
with a lower corporate tax rate
and shifts its headquarters to
that country.
••••
As inversions have gained in
popularity in recent years, the
US administration has been
pushing for new restrictions. The
latest in a series of corporate
offshore tax-reducing moves, also
puts the Obama administration in
a difficult spot as it tries to
stem the flow of U.S. companies
moving to foreign countries.
with
lower tax rates..
••••
Burger King's purchase of Tim
Hortons, creating the world's
third-largest fast-food
company,- is one of the
highest-profile tax inversions so
far.
••••
Some
have suggested boycotting the
fast food chain, while others
have directed their criticism and
anger toward the billionaire
investor Warren Buffett, whose
company Berkshire Hathaway is
partly financing the deal with
investing $3 billion.
••
Industry experts said Burger King
is especially vulnerable to a
backlash because it is a popular
consumer brand, unlike some of
the pharmaceutical companies that
have undertaken other recent
high-profile inversions.
••••
But
a backlash against Burger King
will be short-lived because most
people will not be thinking about
their patriotism when they are
pulling through the drive-through
at
Burger
King, to get a
Whooper.
•
Buffett is famous for
arguing-
that our tax code should be
fairer and that the rich and
powerful should not get more
breaks than middle-income
Americans -- views that some say
are incongruous with his
involvement in.
••••
He has been a staunch advocate of
companies and citizens paying
their fair share of taxes
&emdash; so much so that the
administration's proposal to
force millionaires to pay the
same share of their income in
taxes as middle-class families is
known as the Buffett Rule.
••••
"How can you hammer a deal for
tax policies when the very person
your signature tax policy -- the
Buffett Rule -- is named after is
involved and argues that [the
deal] is not
tax-motivated?"
•
Buffett said it made sense-
for the combined company's
headquarters to be in Canada. The
companies are roughly equal in
market value, and Tim Hortons had
sales of $3.2 billion last year,
compared with $1.1 billion for
Burger King.
••••
"Tim Hortons earns more money
than Burger King does," Buffett
told the Financial Times. "I just
don't know how the Canadians
would feel about Tim Hortons
moving to Florida. The main thing
here is to make the Canadians
happy."
••••
Anger toward Warren Buffett is
misdirected. He cannot close
loopholes that allow Burger King
to claim Canadian citizenship any
more than he can close the
loophole that allows him and fund
managers to pay a smaller
percentage of their income in
taxes than their
secretaries.
•
The real culprits are members of
Congress- who
have failed to close these
loopholes and have allowed Burger
King to claim that it is becoming
a foreign corporation for tax
purposes even when common sense
tells us it is as American as any
company could be..
••••
You
see, Burger King will continue to
serve U.S. customers. It will not
undergo much change in ownership.
And it will likely continue to
have its managers based in the
United States. But when it's time
to pay taxes, it will claim to be
a newly restructured company
based in Canada, which has a
lower corporate tax rate.
••••
Burger King Worldwide Inc.
executives said the move to
create a corporate holding
company in Canada was not a tax
dodge. Instead, they said, it was
justified because Canada would be
the new company's largest market.
They noted that Burger King would
remain a stand-alone brand with
its headquarters still in
Miami.
••••
Proposed restriction curbs
probably wouldn't apply to the
Burger King-Tim Hortons deal. A
House bill has an exception when
a company has "substantial
business activities," such as 25%
of its employees or assets, in
the country where it plans to
place its headquarters.
•
Click
For More
tviStory
108-s90- Buffett greases Burger
King inversion
deal ///
•
115-
SIMON COWELL, NAMED MIPCOM 2014
PERSONALITY OF THE
YEAR Paris, Sept. 1,
2014
•••••
Entertainment industry creative
icon Simon Cowell is to be
honored as the MIPCOM 2014
Personality of the Year.
•••••
The TV and film producer, music
label boss and
internationally-renowned talent
show judge will receive his award
at a gala dinner for industry
executives at the Carlton Hotel
in Cannes on Tuesday 14 October.
On Monday 13 October, Cowell will
give a keynote interview in the
Grand Auditorium of the Palais
des Festivals.
••••
One of the best-known faces on TV
screens in the world, Cowell has
transformed popular culture in
the 21st century through his
wide-reaching TV and music
enterprise.
••••
"Simon Cowell is a visionary
producer whose television
franchises are on air in almost
200 territories around the world,
underlining his status as a
global creative icon. In
recognition of his amazing career
as a creator of international
formats and his formidable impact
on the entertainment industry as
a whole, we are honoured to
welcome him to Cannes as the
MIPCOM 2014 Personality of the
Year," said Paul Zilk, CEO of
Reed MIDEM, organiser of
MIPCOM.
••••
Cowell's Syco Entertainment is a
world-renowned music, film, and
television production company
responsible for some of the most
successful global music and
television franchises. Syco's
television assets include the two
international phenomenon formats:
"Got Talent" and "The X Factor"
both created by Simon Cowell. The
Syco Music roster includes stars
such as One Direction, Little
Mix, Susan Boyle, Ella Henderson,
Il Divo, Labrinth, Cher Lloyd,
Fifth Harmony, Alex & Sierra,
and Collabro.
•
Click
For
More
tviStory 115-s90- Simon Cowell
named MIPCOM's 2014 personality
of the
year
- More
MIPCOM ///
•101-CELEBRITY
SCENE - PETE ALLMAN HONORS MOTHER
ON HER 93rd
BIRTHDAY
WITH MUSICIAL
CELEBRATION
- (TVI
Magazine)
••••
Celebrity Scene's Pete Allman,
known as ''the man on the
scene,'' has been involved in the
entertainment business for years,
in helping escalate the careers
of Lyn Ashley, The Oscar Martinez
Dancers and Kirby Van Burch,
known as The Prince of
Magic.''
••••
Allman first arrived in Las Vegas
in 1978 where he opened his own
review, ''The Pete Allman
Revue,'' which opened at The
Fremont Hotel, later moving up
the strip to The Marina Hotel,
now The MGM.
••••
Allman, who can still belt out a
song, segued from singing and
journalism for over 40 different
publications such as The Las
Vegas Tribune, The Hollywood
Gazette, Showbiz Magazine, The
Las Vegas Hollywood Magazine,
lasvegas.net, newsblaze.com,
into hosting radio shows in
California and Las Vegas, later
finding his true love in
producing half hour television
shows such as The Las Vegan
Report, The Las Vegas Hollywood
Report, CMX Sports and
Entertainment and currently
Talk Back at West L.A.
College.•••• •
Click
for
More
tviNews stories Pete
Allman //
"Game
of Thrones" earned the most
nominations when the 2014 Emmy
nominees were announced. The HBO
show received 19 nominations,
including one in the coveted
drama series
category.
Actor
in a drama: Bryan Cranston
("Breaking Bad") Actress in a drama:
Julianna Margulies ("The Good
Wife") Drama series: "Breaking
Bad" (AMC) Comedy series: "Modern
Family" (ABC) Mini series: "Fargo"
(FX) TV Movie: "The
Normal Heart" (HBO) Variety Series: "The
Colbert Report" •
Click
For
Complete
List of Emmy Nominees-
101-s90 ///
