Word: taxman
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Dates: during 2000-2009
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...handout and Wiedeking himself suggested a more modest sum. Before the ink had dried on the check, Wiedeking announced he would donate half the money to a Porsche-sponsored charity. Not without a sense of humor, he also pledged to donate $2.3 million to assist "needy journalists". The German taxman will likely get a big chunk of what is left. "For the first time an executive has responded to the ever louder public criticism of compensation and bonuses for managers," wrote the business daily Handelsblatt. "It could be that the Wiedeking affair is a turning point." (Read...
...TAXMAN...
...certain extent, the same is true with huge corporations. Companies such as Microsoft (MSFT) and Wells Fargo (WFC) go from making unimaginable sums to much smaller ones. Or, they simply lose money and the amount available for the taxman goes to zero...
Corporate America has a new Santa Claus - the taxman. And this year he is bringing bags of cash, billions of dollars' worth, to all the suited boys and girls...
...first suspect ensnared by the German taxman was Klaus Zumwinkel, the CEO of Deutsche Post WorldNet, the former German postal monopoly, which now owns DHL and has become a global logistics giant. He is suspected of evading taxes totaling some $1.47 million (1 million euros) by transferring funds to a bank in Liechtenstein. Police detained Zumwinkel for questioning last week and carted trunkloads of documents from his home and office. Under intense political pressure, Zumwinkel resigned from his job at Deutsche Post, which is still partially state-owned. Zumwinkel was released after questioning, and the investigation continues...