Smart money heads to Switzerland

Did anybody expect any differently?

Reuters reports that US companies, particularly in the energy industry, are moving their corporate headquarters to Switzerland to avoid being stripped of wealth via higher taxes sought by President Barack Obama.

While security and privacy hits to the Swiss banking industry in recent years have sent account holders to alternative locales – like Singapore, for instance – this new trend appears to confirm that the country has managed to maintain its status as a financial haven for corporate capital.

It’s been said that money goes where it’s treated well. Let it also be said that before Atlas shrugs, Atlas moves its corporate headquarters to a P.O. Box in Zurich.

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