Medtronic Inc., the second-largest maker of medical devices, agreed to buy Covidien Plc for $42.9 billion in cash and stock as it transforms into a broader-based company bolstered by new tax advantages.
Almost two dozen states cut taxes last year, most in the belief that lower levies stimulate the economy. Not Minnesota, which raised them on high-wage earners, business sales taxes and cigarettes by $2.1 billion.
Seven years before Governor Mark Dayton failed to reach a budget deal with Republicans and Minnesota’s government shut, he closed his U.S. Senate office for almost a month after being warned of a terrorist threat.
The formula to get taxpayers to pay for professional sports stadiums usually works this way: Promise construction jobs and downtown revitalization, and threaten to move the team if you don’t get what you want.