Word: caymans
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...only resort of its size on the island. It offers a conference and banquet room for 180 people and plans to add a casino, spa and dive shop. Rooms, which range from $250 to $500, are luxurious if scarcely distinguishable from what you might find, say, on Grand Cayman. And the air conditioning is so ubiquitous and powerful that it reaches icy fingers to you even as you approach the reception building across sun-baked asphalt...
...AVOIDANCE] [Thoroughly rotten] Enron paid no income taxes in four of the past five years. It reportedly saved $1 billion in taxes by using a series of loans and transfers with some of its 600 subsidiaries in the Cayman Islands...
...Corporation has already discovered. But what will always remain most shocking to me is that in four of the last five years, Enron paid no income taxes. What’s more, it was entirely legal. Through a variety of loopholes, including 800 subsidiaries in tax havens like the Cayman Islands, Enron managed to earn $1.8 billion without owing the government a cent. In fact, the company got a net rebate of $381 million, your tax dollars and mine...
...directed by Oscar-winning Hollywood veteran Sydney Pollack (Tootsie, Out of Africa); it grossed over $250 million worldwide and garnered two Oscar nominations and favorable reviews. It contorts to make the McDeeres’ relationship at least somewhat balanced. Mitch (Tom Cruise) confesses to Abby (Jeanne Tripplehorn) about his Cayman Islands tryst. She achieves some measure of movie-style retribution by not telling her hubby whether or not she slept with his boss (Gene Hackman) while she stole files from him. Of course, she didn’t—equality has its limits and no woman will make...
...them than ever, from Liechtenstein to Panama to Vanuatu, a tiny rock sticking out of the Pacific, well-wired into the world financial system. And the amount of money they harbor around the globe is staggering--as much as $5 trillion, according to the U.S. State Department. The Cayman Islands (pop. 35,000) has more than $800 billion on deposit--fully one-fifth as much as the entire U.S. banking system. And those Cayman deposits are swelling by an estimated $120 billion a year. Not all offshore money is linked to crime or terrorism. Much of it belongs to wealthy...