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Five ORC management earn combined total of $640,000

Five ORC management earn combined total of $640,000
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The very people wanting a handout from the citizens of Coos County earned almost $640,000 according to an Industrial Minerals Corporation 2010 Annual Report. Listed salaries of Dan Smith, Cheryl Wilson, Jim Dingman, Joseph Drew and Todd Lessard total $638,686. The figure includes personal use of company cars for Smith, Drew and Lessard.

Not included in these figures are more recent management hires, George Gabrial, CFO, and Stephanie Highsmith, Controller or Pete Zagar, Director of Environmental Health and Safety.

Monday, November 1, ORC with the aid of two thirds of the BOC will ask the taxpayers of Coos County to share their risk and extend their property tax abatement for a combined total of eight years. O&C payments are set to expire during this period of extended tax relief.

One of the conditions of the enterprise zone tax abatement is that wages exceed 150% of the county average wage of approximately $30,000 or roughly $45,000. If management salaries are factored into the application, and I haven’t checked to see if they are, it will not be hard for the company to meet the ezone requirements and still pay workers the county average wage of $30,000.

The meeting will be held at 6 p.m. in the Coos Bay City Council Chambers, 500 Central Ave. Stufflebean admits he has received many phone calls opposed to the extension but is set to vote for it anyway. Apparently, he believes people who oppose it simply don’t understand enterprise zones or know how to read or formulate critical decisions.

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About magix

Avatar of magix When my oldest son, a Marine, left for war and crossed the border from Kuwait into Iraq in March 2003 I started writing my conscience. After two tours that young combat veteran’s mother is now an ardent peace activist and advocate for social, environmental and economic justice. MGx has matured since those early vents and ramblings and now covers relevant and important local and regional matters in addition to national and global affairs.

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4 Responses to "Five ORC management earn combined total of $640,000"

  1. den  October 27, 2010 at 6:48 PM

    “Monday, November 1, ORC with the aid of two thirds of the BOC will ask the taxpayers of Coos County to share their risk and extend their property tax abatement for a combined total of eight years. O&C payments are set to expire during this period of extended tax relief.”

    The combined total under consideration is 5 years. Unless you are including a current tax abatement of three not part of the current issue, and not clearly identified as to where and the what ever that is about, but, I have heard it spoken several times they already have one somewhere?

    Reply
  2. Avatar of magix
    magix  October 27, 2010 at 6:55 PM

    ORC will get three years regardless of what the BOC says. The extension they vote on is for two years on top of that. In total, ORC has already received three years of abatement, will automatically receive another three and if the two years is added they will benefit from a total of eight years of tax relief.

    Reply
  3. Ron Black  March 3, 2011 at 8:37 PM

    Seems like a company able to pay those salaries even BEFORE any ore is recovered shouldn’t need a tax beak or any other special kind of deal.

    Reply
  4. Avatar of magix
    magix  March 3, 2011 at 9:02 PM

    You have that right, Ron, but that doesn’t stop them from walking around with their tin cup and singing the woe is us song about how those mean old regulatory agencies are putting them through the hoops and hurdles

    Reply

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