Burger King, Tim Hortons Deal is Win-Win: Ward

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Aug. 28 (Bloomberg) – Gamco Chief Investment Officer of Growth Equities Howard Ward discusses U.S. companies resorting to tax inversion and his thoughts on the Burger King, Tim Hortons deal. He speaks on Bloomberg Television's “Bloomberg Surveillance.” (Source: Bloomberg)

Good morning everyone.

I am tom keene.

Scarlet fu and brendan greeley are with me this morning.

Our guest host is howard ward, chief investment officer at gamco.

He is less word about geopolitics than the earrings -- earnings potential.

With you think about burger king's purchase of tim hortons?

It is a good deal in terms of they have to do what they have to do?

I'm not exactly a bull on burgers and doughnuts, especially in the united states, where it is a saturated market.

This is about international expansion and efficiencies.

Yes, it is about taxes.

I think it is a good deal for both companies.

I think the combined company will have high profits, that each would have separately.

I think it is a win-win.

From that perspective, we did see a lull for a wild.

Walgreens said that it would not go forward.

There is some political pressure that we are starting to see.

This is very misplaced print washington is criticizing companies that are doing tax and versions, but let's be clear -- the tax code is a creation of the united states congress.

These companies are charged with maximizing profits.

If they can maximize profits by doing a texan version, it makes it easier for them to expand in the united states.

So, it is not an easy playing field.

If you don't like the tax code, change it.

Paul o'neill, when he came in as treasury secretary he wanted to change it.

It did not work.

Dave camp has been doing yeoman's work for two years.

It sank.

How can we be confident it will happen?

This speaks to the dysfunctional congress.

And a white house that is lacking leadership.

I guarantee you that if you pass a law tomorrow to eliminate the 35% tax on repatriated profits, this issue goes away.

Oh no, the vodka.

I got a little excited.

This whole issue will go away.

I feel that way about tax reform too.

If you want to create jobs, this is america.

We should have a competitive tax code.

We are not competitive now.

Can we reform without

This text has been automatically generated. It may not be 100% accurate.


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