The Corporate Chutzpah Award

Illustration: Mark Matcho

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When Houston-based Nabors Industries, the nation’s largest oil-rig com- pany, reincorporated in the island tax haven of Bermuda in 2001 and secured a $10 million tax break, it had no intention of forsaking the benefits of being a corporate U.S. citizen, just the costs.

Nabors owns a 33-ship fleet to service its rigs, which it has tried to register as all-American. Although the Jones Act of 1916 prohibits foreign-owned ships from doing business solely in U.S. waters, Nabors claims its ships don’t belong to the mail-drop parent company, but rather to its “American subsidiary.”

The company’s domestic competitors are crying foul — adding that they may soon have no choice but to follow Nabors offshore. A lobbyist for the Bermudan company dismissed its critics as “whiners.”

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And the truth is, going into the final 4 days of the year we still needed to raise $TK to hit our $350,000 goal and start 2021 on track. It's nerve-wracking, wondering if the big spike we normally see at the end of December is going to be another thing that doesn't go as planned in 2020, or worse, if, now that Donald Trump is set to leave the White House (for longer than a taxpayer-funded golf trip to a property he owns), folks might be pulling back from fighting for the truth and a democracy and think the hard work is done.

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