Last Updated Jul 27, 2011 1:30 PM EDT In testimony Wednesday before the U.S. Senate Committee on Finance, the president and CEO of Walmart joined several other chief executives in calling for modernizing the country's tax code and in particular, significantly reducing corporate tax rates to a level competitive with other countries. Walmart's Mike Duke said that his company paid an effective corporate tax rate in 2010 of 32.2 percent, while the average tax rate in developed countries around the world is 25.1 percent. Duke also said that the U.S. system of taxing corporate profits globally, rather than the territorial system used by other countries, hurt the ability of U.S. companies to compete. "My advice to this committee is straightforward: lower the corporate rate as much as you can, make the tax base as broad as you can, and move to a territorial system as quickly as you can," Duke said. Duke was one of four CEO's to testify before the Senate committee, which was examining how the … [Read more...] about Walmart CEO, Others Call For Lower U.S. Corporate Taxes
Last Updated Dec 4, 2017 11:39 AM EST CVS Health (CVS) has plans that reach far beyond filling your prescription. The second-largest U.S. drugstore chain is buying Aetna (AET), the third-largest health insurer, in a $69 billion deal in order to push much deeper into customer care. The evolution won't happen overnight, but in time, shoppers may find more clinics in CVS stores and more services they can receive through the network of nearly 10,000 locations that the company has built."They'll be pretty much a soup-to-nuts health company ... except for the hospital part of it," said Craig Johnson, president of Customer Growth Partners, a retail consulting and research firm.Patients also may find the CVS-Aetna combination much more involved in managing their care, especially for those with expensive chronic conditions like diabetes. The bulked-up company also may gain more negotiating leverage over prescription drug prices, but it's far too early to say how much or whether that … [Read more...] about Is the CVS Health-Aetna deal an Rx for health care costs?
In the short-term, CVS’s (CVS) decision to stop selling tobacco will cost the nation’s second-largest pharmacy chain more than it will cigarette manufacturers. In the longer term, it may increase the number of people who quit smoking and provide an opportunity to e-cigarette makers. Speaking on “CBS This Morning,” CEO Larry Merlo said banning these products “is the right decision” for the company even though doing so would cost it some $2 billion annually in tobacco and related sales."There’s a growing focus and emphasis on healthy outcomes, managing chronic disease and, by the way, more than half of all Americans today suffer from one or more chronic diseases, as well as a focus on controlling and reducing health care costs," he said. Walgreen (WAG), the nation’s largest drugstore chain, said it's still mulling the sale of tobacco at its stores. Walgreen spokesperson Emily Hartwig said in an email, "We have been evaluating this … [Read more...] about CVS’s move could be a boon for e-cigarette makers
CVS, one of the country’s largest pharmacy chains, will stop selling cigarettes and all tobacco products at their more than 7,600 stores on October 1, 2014. It is the first national chain of pharmacies to make that decision. Tobacco use is the number one cause of preventable death in the United States and the government says it kills more than 480,000 Americans each year. According to the U.S. Department of Health and Human Services more than 42 million people in the country smoke and 16 million current and former users have smoking-related illnesses.President and chief executive officer of CVS Caremark, Larry Merlo, joined “CBS This Morning” to discuss why his company made this decision. He explained that the decision was based on helping improve their consumer's health. “There’s a growing focus and emphasis on healthy outcomes, managing chronic disease and, by the way, more than half of all Americans today suffer from one or more chronic diseases as … [Read more...] about CVS CEO: It’s a “contradiction” to help people be healthier and sell tobacco products
Health Inc. Facebook Twitter Flipboard Email Enlarge this image CVS Health has struck a deal to buy Aetna, the insurance giant. The combined companies would have more clout with drugmakers and would aim to bring more health care to consumers in retail clinics. Gene J. Puskar/AP hide caption toggle caption Gene J. Puskar/AP CVS Health has struck a deal to buy Aetna, the insurance giant. The combined companies would have more clout with drugmakers and would aim to bring more health care to consumers in retail clinics. Gene J. Puskar/AP CVS Health is looking to create a national network of community medical clinics that will serve as "America's front door to quality health care." That's the goal, according to a statement by CEO Larry Merlo on his company's deal for Aetna. It's an ambitious one for CVS, a company better known as a quick stop for Tylenol and a Coke. To get there, CVS agreed to pay $69 billion in cash and stock for Aetna, the companies … [Read more...] about With Aetna Deal, CVS Looks To Turn Stores Into Health Care Hubs