USA – Apple’s bond issue – Pity the taxpayer

via The Economist: Apple’s bond issue – Pity the taxpayer

This is an interesting piece on “creative financing” by big multinational companies. Apple issued recently corporate bonds (debt) worth 17 billion dollars while sitting on a cash pile of 145 billion dollars. Why? Well, what looks like a contradiction makes perfect sense and is common practice. It is an effective way to dodge the taxman, subsidized by ordinary taxpayers. It is a good read if you can bear it.