It’s emerged this week that Resolute Forest Products, the lead logging company clearcutting Endangered Forests in Ontario and Quebec is seeking a tax break from the city of Thunder Bay. If successful, the break which would be retroactive to 2009, would force Thunder Bay to cough up more than $7 million in taxes previously paid. Read abou it here.
This from the same company involved in a regulatory dispute with its workers and their union over unpaid contributions to pension plans. [give us decades of work and we'll pay you back with decreased pension benefits]
This from the same company that went into bankruptcy protection to restructure (i.e. get out of) massive debt incurred after many years of unprofitable and unstrategic management decisions.
This from the same company that has been on an expensive investment announcement spree of late and seemingly has cash to spend.
This from the same company that is actually making money on a quarterly basis, if you remove one-time costs due to mill shutdowns and one-time lay off costs.
As I am sure you'd agree, industry needs to pay their fair share and continue to financially support the communities they have relied upon for decades. To impoverish a municipality such as Thunder Bay with a reimbursement request for past taxes paid on top of a lowering of taxes to an unfair level is simply a slap in the face.
Talk about disrespect. Talk about letting down a town and the workers that live there that have been there for the company through thick and thin.
Just another side to the company called Resolute that logs in Endangered Forests in Quebec and Ontario. Revealing, I’d say.
Read more about Resolute