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Rob Kailey is a working schmuck with no ties or affiliations to any governmental or political organizations, save those of sympathy.

Montana left wondering: Where's My Bonus?

by: John_Firehammer

Tue Feb 09, 2010 at 13:58:21 PM MST


( - promoted by Jay Stevens)

Well, the recession has certainly come home to Montana.

Across the state, layoffs and business closures are on the rise. And now we get local headlines about obscene CEO bonuses.

According to the Missoulian, Smurfit-Stone Container Corp. - which has declared bankruptcy, shuttered its
Frenchtown pulp mill and laid off more than local 400 workers - paid out $50.4 million in bonuses last year.

Smurfit Chief CEO Patrick Moore received more than $1.5 million in bonus pay, while President and Chief CEO Steve Klinger raked in nearly $1.1 million, the Missoulian reported.

Meanwhile, the company owes cash-strapped Missoula County $1.18 million in taxes.

This is just another appalling example of shameless, reckless financial practices that have torpedoed local economies throughout our nation.

While the CEOs enjoy their rewards, Western Montana will be feeling the loss of Smurfit-Stone for years to come. According to the University of Montana Bureau of Business and Economic Research, the mill closure may result in additional job losses in construction, retail and health care services. All told, up to 1,500 Missoula County jobs may be jeopardy.

Congress needs to put the brakes on such outrageous behavior and pass financial reforms that will hold CEOs, Wall Street and Big Banks accountable. At the same time, we need reforms that will help protect consumers and give small businesses a hand up in this troubled economy.

John_Firehammer :: Montana left wondering: Where's My Bonus?
John Firehammer is communications director for Montana Change That Works, a permanent grassroots organization dedicated to holding Congress accountable to passing a progressive agenda.
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A bit confused to what you are proposing (0.00 / 0)
The back taxes need to be paid, but there is already tax lax that enforces that the company pays its taxes.  Are you proposing that a company cannot run its business to how it sees fit?  It took a long time for be to become a business owner.  Right now, I have the right to pull the plug when I want, fire my two employees, and take the cash.  Are you saying that you should have a say in this?  What gives you the right Firehammer to put your finger in my finances?  Or are you saying Washington should have a say in this?  Washington can't figure out their own finances so they should really stay away from more law that restricts my freedoms to own, sell or close a business.  Your proposal shows that your "grassroots" is not more than just an astrotuf organization that wants to control the populace because you feel entitled to what everybody else has.  Get a real job, get a real degree, and do something instead of trying to control my small business hippie.

Anybody who wants to be sympathetic to Sir Michael Smurfit (0.00 / 0)
should take a look at my blog exposing him earlier this week, over at 4&20.

And anybody who wants to apologize for a playboy corporate lacky like Michael Smurfit, born with a silver spoon, who owns two yachts, a luxury golf get away in Ireland, is a tax exile in Monaco, absorbs near billion dollar U.S. tax-credit before bankruptcy, treats Montana and Montanans like a banana republic, and pals around with terrorists (if'n you can call Bill Clinton a terrorist), well then, go right ahead.

I think Montanans should stick it to Smurfit and Smurfit-Stone as hard as they can. At least as hard as they stuck it to us. Better bend over Michael--not to get knighted, but to get pwned.

Nice to know you're on the side of transnational, tax-evading british royalty here, Widowmaker. I'd like to give myself a bonus before I paid my property taxes, too. But I don't have a yacht to scoot off to a private Mediterranean isle when the tax man comes a callin'.


[ Parent ]
I see you are on the side of crazy (0.00 / 0)
Are you suggesting that there should be laws that state a person, partnership, and corporation pay their taxes.  Wait, and then it would require complex codes and an entire agency to organize and enforce said laws.  We'll call it the IRS.  I support tax laws, shoot, THEY ARE ALREADY IN PLACE.  You are suggesting creating new laws soly because somebody hurt your feelings.  You are just like ol Firehammer over here.  You probably don't have a real job, so you are mad that I have two employees and a 4 figure profit (one day it will pay the bills.)  You'll call it the "Widowmaker bill".  And it would state "Every dime he earns I get because I don't like him."  You can't go and create discriminatory laws just because you somebody makes you mad.  I think I'll create a law that taxes liberal bloggers 99% of their income, but, that still won't make six figures.

[ Parent ]
I suggested no such thing (0.00 / 0)
"You are suggesting creating new laws"

And my feelings are hurt? Nah, I'm not a touchy-feely guy about these sorts of things. Angry? Sure. I have friends who have been hurt by Smurfit-Stone's actions. You on the other hand, feel a need to shout the obvious about tax laws at me, and suggesting I'm crazy. What's crazy is that Montanans let themselves get awed and abused by British royalty and refuse to take a stand against transnational colonialism. Lifestyles of the Rich and Famous tax evaders comes home to roost in western Montana.

Got job? Sure I do--three of them to make ends meet, one of which is my own small business. And I pay taxes just like everybody else. What's your point? Think you're better than me, or other people here whose viewpoint you don't agree with? Think slamming people personally makes you feel big and tough and righteous? Seems pretty petty and juvenile to me.

I just don't happen to see any reason to sympathize with a transnational tax-evading playboy. You do.

Defend why you think it is ok for Smurfit-Stone to pay exec bonuses before it pays its property taxes here in Montana. Straight up. That's the topic at hand.


[ Parent ]
Topic (0.00 / 0)
The topic at hand was Firehammers comment "Congress needs to put the brakes on such outrageous behavior and pass financial reforms."  Reforms, ie new laws to treat this situation because he is angry.  Smurfit gives plenty of reasons to be angry, I won't deny.  Throw people on the streets and give out bonuses.  Company going bankrupt and then buying a yacht.  I can't stand when a person goes bankrupt yet still has internet and cable.  Or still goes to the bars.  Bankruptcy should mean flat broke.

I get angry too when people whine about American jobs and then drive a 2009 or older Prius, which were not made in the United States.  Or a Suburu outback, which most are made in Ota, Gunma, Japan.  As for your transnational colonialism, I feel that is happening far faster with Honda and Toyota then with Smurfit.  Frankly, most Suburu drivers, Prius drivers, and Honda drivers shouldn't be able to look at themselves in the mirror when it comes to American jobs.  Whats 400 jobs in Missoula where 10 thousand are lost to foreign jap crap cars?  Maybe reform should mean a 35K fine for every foreign made car a person buys?  And that money goes to the person that would have worked.  


[ Parent ]
So you don't believe in the free market (0.00 / 0)
that you espouse, because you're a trade protectionist.

And you don't believe in Ch. 11 or 13 bankruptcy, even though they're settled law.

And you don't believe that Congress either should, or could legislate to protect american consumers and local/state governments from the excesses of the Rich & Famous?

But yet you espouse that we should have tariffs (you called them fines) that the proceeds go to offsetting trade imbalanced workers in america.

You sound very confused to me.


[ Parent ]
Ah yes... (0.00 / 0)
and when Montana Power...aka Touch America, screwed Butte and thousands of Montana shareholders it was ok too!  After all, they are "bidness" people just exercising their rights.

There is nothing wrong with a little rewrite of the bankruptcy laws to protect the unions,(contracts) the municipalities,(taxes and services) the state governments,(services) that have been there supporting the business for years.

Mr. Widowmaker, do have any employees?


Just want to point out (0.00 / 0)
From: http://missoularedtape.com/?p=...

"On another front, though, Smurfit-Stone Container paid up Missoula County. In an e-mail Wednesday, county deputy treasurer Scott Seitz said the check for back taxes is no longer in the mail - it's in the county's hands.

"They now owe no delinquent taxes," Seitz said.

How much did they pay? "The total I received from them was $2,037,462.07 including delinquencies and one 2009 bill that had been abated.""


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