Wednesday, January 28, 2009

Tyco Moves From Bermuda To Switzerland Why?

Tyco Electronics (TEL) has announced that they will move their head office as quickly as possible from Pembroke Bermuda to Switzerland. No further explanation was offered for this momentous move. Bermuda well known for its tax haven status but not being close to any particular global market was not good enough. Switzerland has an excellent banking system as they say.

However in this case they do not say anything. Reading between the lines does not make investors happy because you never get all of it. Many companies do well and are not domiciled in either Bermuda or Switzerland.

So what’s up Tyco?