What We’re Reading: The New York Times Series ‘United States Of Subsidies’
Over the weekend, The New York Times started rolling out its in-depth, national look at how states are enticing business to their region through tax breaks, exemptions and subsidies. The series includes three lengthy articles plus subsidy data on all 50 states.
How Taxpayers Bankroll Business — “A Times investigation has examined and tallied thousands of local incentives granted nationwide and has found that states, counties and cities are giving up more than $80 billion each year to companies. The beneficiaries come from virtually every corner of the corporate world, encompassing oil and coal conglomerates, technology and entertainment companies, banks and big-box retail chains.” The New York Times
The Times’ Deal Book Blog also published a commentary on the future of Hewlett-Packard, a California-based company with a long history in Boise, Idaho.
To Save H.P., Break It in Two – “Hewlett-Packard’s $8.8 billion write-down of its Autonomy acquisition is just the latest evidence of the steady decline of one of the world’s great companies. Don’t blame Meg Whitman, the chief executive. She is just cleaning up the messes created since 1999 by her three predecessors and H.P.’s strategically challenged board of directors.” Deal Book