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Old 06-28-2011, 11:10 AM
 
Location: 112 Ocean Avenue
5,704 posts, read 4,375,550 times
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Default The house that's home to 2,000 companies

The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyo.

The house that's home to 2,000 companies - Business - US business - msnbc.com
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Old 06-28-2011, 11:48 AM
 
7,909 posts, read 19,893,003 times
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Shell corporations have been a big business in many states for a long time ...

I recall Delaware companies doing a major national marketing campaign for years to "incorporate in Delaware" in financial dailies, for example.

Nevada has long been known as a haven for the protections afforded by the corporate umbrella. I've known many people to incorporate their business there because their laws are somewhat unique when it comes to corporate privacy.

The article is somewhat misleading when it asserts that Cheyenne is a major player in this business with a several people operation at one address housing 2,000 businesses. It's a drop in the bucket compared to the shell corporations that exist throughout much of the USA ... and as far as a lucrative business here in Chyenne, you're looking at one location with only a few employees. It's not like the whole population is deriving an unjust (or, for that matter, illegal) benefit from a shady business of dubious social or financial value.

Wanna' see where the big operators are in playing corporate shelter games? Better look at the coastal states on both ends of the country. NYC, Los Angeles, Chicago, and other financial centers are where the big money is at.

Comparing Cheyenne's operation to these outfits is trivial ... and to assert that it's a tax haven similar to some of the offshore (and not necessarily legal tax dodges) companies defies rationalization. But I suppose it makes for a good headline with some shock value for the libs to point to Wyoming as a item of shame ... never mind looking in their own backyards in the slop heaps they've got. FWIW, I was employed by an analysis outfit that was investigating sham corporate stock offerings all based out of Miami, FL ... the ones I checked out were all of Cuban origin ... as in ex-pat Cubans running scams in the USA of out Miami. Every one of their businesses survived only long enough to get investors into the company, then went bankrupt, but the general partners all walked away with their money and salaries and bonuses in the interim.

I'm reminded, too ... that operators like Bernie Madoff weren't messing around in little 'ole Cheyenne ... he had much bigger fish to fry in other greedy circles, didn't he?

Last edited by sunsprit; 06-28-2011 at 12:03 PM..
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Old 06-28-2011, 07:40 PM
 
319 posts, read 147,674 times
Reputation: 237
I'm in the business of uncovering fake corporations. Cheyenne isn't a player - not even close.
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