S&P; Asked to Remove Offshore Companies
From Associated Press
Finance officials from California and nine other states asked Standard & Poor’s to remove 10 offshore companies from the S&P; 500 index.
The request is the latest in a series of attempts to pressure the companies to reregister in the United States.
National labor officials joined the state officials in arguing that the companies aren’t paying their fair share of taxes because they’re based in places such as Bermuda or the Cayman Islands.
Standard & Poor’s rejected the request, saying its index is designed to reflect the broad U.S. stock market.
