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Coca-Cola Taxes (sh.itjust.works)

submitted 3 months ago* (last edited 3 months ago) by [email protected] to c/[email protected]

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https://mastodon.social/@MEActNOW/112956139620337300

News: https://www.forbes.com/sites/kellyphillipserb/2024/08/06/coca-cola-could-face-16-billion-irs-bill-after-its-tax-court-arguments-fall-flat/

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[–] [email protected] 9 points 3 months ago (1 children)

Do people upvote these comments without checking anything? Does it sound reasonable for one of the largest companies in the world to be worth only $11 billion?

The Coca-Cola Company is worth $296 billion. I don't think they've been worth only $11 billion since the '80s.

https://finance.yahoo.com/quote/KO/

[–] [email protected] 4 points 3 months ago (1 children)

I'm going to stop using this site, as it currently states a market cap of "11,091,895,682" dollars. Thanks for the correction.

[–] [email protected] 4 points 3 months ago (1 children)

That's a US bottling company that buys from the actual Coca-Cola Company.

The company was formerly known as Coca-Cola Bottling Co. Consolidated and changed its name to Coca-Cola Consolidated, Inc. in January 2019.

https://finance.yahoo.com/quote/COKE/profile/

These bottling companies are the ones that beat people up in developing countries, not the actual manufacturer. They can be confusing.

[–] [email protected] 4 points 3 months ago

You've got to be fucking kidding me.

Well, I at least stand by my earlier point, that white collar crime is usually way worse than is ever reported.