& cplSiteName &

Chambers Floats His Stimulus Plan

Jeff Baumgartner
The Bauminator
Jeff Baumgartner

7:30 AM -- 60 Minutes ran a story Sunday night about how many large U.S. corporations chop their tax bills by moving parts of their businesses overseas to obscure spots such as Zug, Switzerland.

Among the companies that are benefiting from that kind of strategy is Cisco Systems Inc. (Nasdaq: CSCO), which has eight companies in Ireland and estimates it has about US$40 billion "trapped" outside the U.S.

Cisco CEO John Chambers, who played a starring role in the story, wants the U.S. to approve a one-time tax break (in the neighborhood of 5 percent) to help bring that money back, viewing it as a move that could help stimulate the economy.

But he's got a steep hill to climb, as the Obama administration is already opposed to the idea. Plus, companies received this kind of break a few years ago and there's not much evidence that it created any jobs for the U.S. of A.

Chambers told Lesley Stahl he would "absolutely" promise to create jobs if given the break, later insisting that he's not asking for a handout. "All we're asking is -- give us a level playing field. Get us close."

In case you missed it, here's the entire story:

— Jeff Baumgartner, Site Editor, Light Reading Cable

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
More Blogs from The Bauminator
Don't expect anything more to pop for a while, but one analyst sees John Malone & Co. as the 'logical, ultimate acquirer of Ziggo' if the price is right
Cable operators will need to free up at least 24MHz of spectrum for Docsis 3.1. But why is that the magic number?
Liberty Media's rumored plan to snag a 25% stake in Charter for $2.5B could aid the MSO's M&A strategy
Top US cable operators lost 1.41 million video subs in 2012, but the bleeding continues to show signs of slowing in a saturated pay-TV market
Aereo streams its 'no cable required' tagline into the video world. Will consumers tune in to the message?
Featured Video
From The Founder
Light Reading founder Steve Saunders recently visited the University of North Carolina Charlotte (UNCC) where Cisco's Tetration application is providing data center analytics, simplifying SDN, helping with cloud migration and overseeing white-list security policy.
Flash Poll
Upcoming Live Events
March 20-22, 2018, Denver Marriott Tech Center
March 22, 2018, Denver, Colorado | Denver Marriott Tech Center
March 28, 2018, Kansas City Convention Center
April 4, 2018, The Westin Dallas Downtown, Dallas
April 9, 2018, Las Vegas Convention Center
May 14-16, 2018, Austin Convention Center
May 14, 2018, Brazos Hall, Austin, Texas
September 24-26, 2018, Westin Westminster, Denver
October 9, 2018, The Westin Times Square, New York
October 23, 2018, Georgia World Congress Centre, Atlanta, GA
November 7-8, 2018, London, United Kingdom
November 8, 2018, The Montcalm by Marble Arch, London
November 15, 2018, The Westin Times Square, New York
December 4-6, 2018, Lisbon, Portugal
All Upcoming Live Events
Hot Topics
Dell CTO: Public Cloud Is 'Way More Expensive Than Buying From Us'
Mitch Wagner, Editor, Enterprise Cloud, 3/19/2018
Is Business Voice Rapidly Fading?
Carol Wilson, Editor-at-large, 3/15/2018
Eurobites: BT Hires Sherman as Strategy Tank
Paul Rainford, Assistant Editor, Europe, 3/14/2018
Amazon Proves Video's Worth
Mari Silbey, Senior Editor, Cable/Video, 3/15/2018
Animals with Phones
Live Digital Audio

A CSP's digital transformation involves so much more than technology. Crucial – and often most challenging – is the cultural transformation that goes along with it. As Sigma's Chief Technology Officer, Catherine Michel has extensive experience with technology as she leads the company's entire product portfolio and strategy. But she's also no stranger to merging technology and culture, having taken a company — Tribold — from inception to acquisition (by Sigma in 2013), and she continues to advise service providers on how to drive their own transformations. This impressive female leader and vocal advocate for other women in the industry will join Women in Comms for a live radio show to discuss all things digital transformation, including the cultural transformation that goes along with it.

Like Us on Facebook
Twitter Feed