Peter Morici: Burger King Seeking to Diversify

Friday, 29 Aug 2014 08:23 PM

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
Burger King's plan to acquire the coffee and doughnuts chain Tim Hortons and move its corporate headquarters to Canada is simply a bid to diversify amid a declining hamburger business, says economist Peter Morici, a professor at the University of Maryland.

"As you know, the hamburger businesses have declined in the United States, not because McDonald's or Burger King are not doing a good job, but the millennial don't go for them the way our generation did," Morici told Rick Ungar, guest host of "The Steve Malzberg Show" Friday on Newsmax TV.

Note: Watch Newsmax TV now on DIRECTV Ch. 349 and DISH Ch. 223
Get Newsmax TV on your cable system – Click Here Now

"Burger King wants to use its extensive cash flow to build out other franchises. Tim Hortons is in Canada. It's a very effective franchise like our Dunkin' Donuts, but it's largely limited to Canada.

"They haven't been good in internationalizing so that's a great opportunity. Burger King is in 100 countries, it knows the ropes and it can take it around the world. Then, the question comes up: why locate the new entity in Canada? Simple. We have lousy tax laws that would tax all those overseas operations."

Morici said President Barack Obama should do more to try to knock down the oppressive 35 percent corporate tax rate.

"He's been in office five years. The Republicans want to reform the system, level out the rates and lower them. He's not interested," Morici said.

"In fact, he wants more revenue and presidents have a lot of discretion with the corporate income tax."

Related Stories:


© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Attorney: Ferguson Grand Jury Hearing More Than the Public

Monday, 20 Oct 2014 19:03 PM

The problem with the leaks from the grand jury deciding whether or not to charge the police officer who shot and killed  . . .

David Horowitz to Conservatives: Work Harder for GOP Victory

Monday, 20 Oct 2014 19:00 PM

Conservatives must work harder to guarantee a sweeping Republican victory in the midterm elections, says David Horowitz, . . .

Noah Rothman: 'I'm Withholding Judgement' on Ebola Czar

Monday, 20 Oct 2014 18:48 PM

Noah Rothman, associate editor for conservative media watchdog, says he's willing to give Ron Klain, the form . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved