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hodayathink (0)
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I doubt there's much of a benefit to being headquartered in Southern California, but when it comes to them as a corporation, I don't really see much of a benefit to them being headquartered in Europe, either. This site seems like the people that run the site from a business perspective are completely removed from the people that run the site from a content perspective, so I don't think having the headquarters closer to where they get their talent from would make any difference.
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11-05-12 10:14am
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Claypaws (Suspended)
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I think that sites would put the administrative HQ wherever gives them the best advantages for legal and financial matters. For example, if they put the HQ in Europe, they would be legally obliged to add VAT to the subscriptions of European residents and pay the tax over to the EU. I know this fuels the regional pricing debate but there really is a legal obligation on Euro-based sites to do that. Locating in USA gets around that issue.
Also, being based in the US allows them to keep records in accordance with 2257 regulations. This enables them not only to prove the legal age of the models, which saves them from all sorts of problems worldwide, but also allows them to insist on photographers giving them the proof required by 2257.
Those are the two main reasons I can think of.
I always thought Amsterdam was a strange choice of move for AW but perhaps there are different legal advantages for them there.
BTW, this looks to me more like a forum topic than a comment on MET-ART. It would not surprise me if Khan moves it to the forum :-)
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11-05-12 02:14pm
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lk2fireone (0)
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REPLY TO #2 - Claypaws :
Thanks for the explanation.
I think you gave some convincing arguments for the legal and financial reasons for being headquartered in the U.S.
I dimly remember that years ago, credit card companies and other corporations would be incorporated in Delaware (in the US), for financial and legal reasons, because Delaware had laws more favorable to business than most other states. Even though those corporations did little business in Delaware.
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11-05-12 02:32pm
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lk2fireone (0)
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REPLY TO #2 - Claypaws :
From the net:
Wilmington, Delaware experienced the loss of many jobs after World War II, mostly due to it becoming less utilized as a shipping location. To address this matter, the state legislators sought a way to bring new business into the state, starting in the late 1970s. Led primarily by the Governor Pierre DuPont, in the early 1980s, Delaware attempted to lure large banks away from New York and other large financial companies by dramatically redrafting tax laws for banking industries. Laws also changed to allow banks to charge any interest they wished on credit cards.
Several banks, among them Bank of America and Chase, were inspired by Wilmington’s flexible laws to relocate at least their credit card companies to Wilmington. The ability to charge more interest meant that they could offer credit to less credit-worthy customers. Though big banks moved their credit card companies, the response was even greater than DuPont at first estimated. Many smaller banks also set up shop in Wilmington, to take advantage of being able to charge much higher interest rates, while paying lower taxes on their profits.
Since the enactment of liberal interest rate laws and low taxes, Wilmington has become one of the most attractive cities in the US to set up credit card companies. Other states and cities may have caps on interest charged, and in fact the US congress has even attempted to create lower interest rates, and cap fees and interest. This strategy has not worked, and Congress’ response was lukewarm at best, placing the interest cap at no more than 30%.
In 1988, laws in Delaware protecting credit card companies were made even stronger. During a period where hostile takeovers were becoming standard, Delaware changed its laws to make sure that most Delaware companies would not be subject to this process. The new laws meant any one attempting to take over a company would have to own 85% of its stock, or with a majority of stock holding would have to wait three years before initiating takeover proceedings. Companies stationed in Delaware were thus better protected than in other states, strengthening the position of any bank or credit card companies that created their charters within the state.
Today, there are several major credit card companies stationed in Wilmington. These include Bank of America, Chase, Barclays (which used to be Juniper), and ING Direct. A number of smaller credit card companies also have their home base in Delaware. What this means for the consumer, especially if you’re sifting through a lot of credit card offers, is that you’ll find numerous ones coming from Delaware. You may pay higher interest rates, especially if your credit is not solid. With the luxury of good credit, you may want to shop around for the best credit card offers, especially those from states with laws less likely to favor the credit card industry.
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11-05-12 02:41pm
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