Minnesota companies on the move in Fortune 500

  • Article by: PATRICK KENNEDY , Star Tribune
  • Updated: May 8, 2012 - 2:55 PM

Nineteen Minnesota companies kept their spots in the Fortune 500, but only one - UnitedHealth Group - held steady.

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psychrixMay. 7, 12 9:32 PM

Give the Vikings away and you contiue to lose more. Twin Cities is becoming 2nd rate.

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hawks88May. 8, 12 8:50 AM

What the politicians and economists choose to ignore is that many MN companies are relocating their HQ's to different states or countries. ATK is a perfect example. However, Pentair and Stratasys recently re-incorporated in Switzerland and Israel respectively. Not only does MN lose out on tax revenues, but so does the US. It's a business move that many large companies will be seriously evaluating in the near future. They'll look for international companies to merge with or purchase, then incorporate under a new name (very similiar name) in that country (as long as their tax rate is lower than the US...which is most everyone). Lower the tax rates and you'll see a reinvestment of capital in the US. Just watch the exodus in France over the next couple of years for a taste of what's to come.

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falcon1679May. 8, 12 9:57 AM

hawks88 - What the politicians and economists choose to ignore is that many MN companies are relocating their HQ's to different states or countries. ATK is a perfect example. However, Pentair and Stratasys recently re-incorporated in Switzerland and Israel respectively. Not only does MN lose out on tax revenues, but so does the US. It's a business move that many large companies will be seriously evaluating in the near future. They'll look for international companies to merge with or purchase, then incorporate under a new name (very similiar name) in that country (as long as their tax rate is lower than the US...which is most everyone). Lower the tax rates and you'll see a reinvestment of capital in the US. Just watch the exodus in France over the next couple of years for a taste of what's to come. --------------------- The tax rates may be high, but with the current tax cuts, loopholes, and deductions, they pay little to nothing. And that's a fact that's available from the IRS web site and has been covered in length by the media outlets for years. It's about cheap labor and fatter profits. Nothing more, nothing less.

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jcinmnMay. 8, 12 1:48 PM

Why is Exxon Mobile even listed as a U.S. Corporation? It has its official HQ offshore and pays no US taxes! It paid $15 B in taxes in 2010 all to foreign countries who contributed nothing to the defense of their oil rigs or tankers. STRIKE THEM FROM THE LIST!!!!

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nowwhereMay. 8, 12 3:49 PM

Don't worry in another few years we can get rid of the rest of those pesky employers. If we can just turn the majority in the legislature, along with Governor Bomb Shelter's leadership, collective farming is coming sooner than you think!!

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