Friday, October 12, 2012

Enough! Coca Cola Leaves Greece!

 "The Government takes what it wants, and taxes what it leaves behind." 
 Atlas Shrugged Part II

Atlas has shrugged enough apparently to Coke.  The maker (Coke) says the takers (Government and its citizens) are killing it and they are leaving  Greece.  If you remember Greece has implemented austerity measures that are resulting in riots and mayhem. 

Austerity refers to a policy of deficit-cutting by lowering spending via a reduction in the amount of benefits and public services provided.  And the citizens of Greece are fighting mad.

But I don't blame Coke at all.  A company is in business to make money.  Not to pay the Government.  Obama forgot to learn that in Economics 101.  I really doubt he took it. 

Greece's Biggest Company Quits Country

 Greece's biggest company is leaving the country, drinks bottler Coca Cola Hellenic (CCH) said on Thursday in announcing it will move to Switzerland and list its shares in London, dealing a blow to the debt-crippled Greek economy. 

Coca Cola Greece[...] CCH has become the country's biggest firm by market value with a capitalisation of around 6 billion euros ($7.7 billion), representing about a fifth of the Athens bourse's total. 

The company had also complained about the heavy tax load imposed under Greek government austerity measures...."

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