The financial picture is getting a little grim. Plants are closing, workers are getting laid off, jobs are evaporating across the nation. The common reason is that the US Housing market dried up because of the banking disaster.
Well, that seems like it is only part of the truth. Lets look at a company that sells predominantly in the US. The James Hardie Corporation. Hardie Board? Can you guess where they are headquartered?
The Netherlands!
Why? Presumably because of tax breaks that the Netherlands offered to them. They are possibly moving back to the US as their headquarters, but most of their stockholders are Australian. Why aren't they going to move to where their stockholders live? Well, it may be because they have some outstanding fees due to the Australian government and perhaps it is because of some fines due to litigation in the past.
The point is that the gloomy financial picture in the US isn't only about sloppy lending to US homeowners who defaulted and left the globe in economic shambles. No, the problems are much more complicated than that. Lets look to Hardie though on February 12th to share their move with the business community.
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