Whirlpool has paid no corporate taxes for 3 years

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You know Whirlpool, the large corporation that is an integral part of the city of Benton Harbor and who received $3.87 million in tax breaks from the city last year as a bribe so they would build their new headquarters there instead of leaving Benton Harbor altogether?

According to Business Week, they haven’t paid a dime in corporate taxes in three full years. And, last year, they got a $64 million tax REFUND.

Whirlpool had negative effective income tax rates in 2010, 2009 and 2008. Last year, the company reported an income tax benefit of $64 million and an effective tax rate of negative 10.9 percent, according to company filings. The company expects a similar tax benefit in 2011, corporate controller Larry Venturelli told analysts today.

And now, with a favorably-stacked Planning Commission and Brownfield Redevelopment Authority, thanks to Emergency Financial Manager Joe Harris, I suspect we’ll see more of the same.

Of course, this will do very little to help the residents of the city of Benton Harbor or help get the city out of the financial hole it is in. Why? Because this does little, if anything, to improve their tax base for over a decade.

Ta-da!

H/T Think Progress.

  • Gormatthews

    Many thanks for digging into some of the dirt on Whirlpool. There’s more to be found at bhbanco.org. Here’s a sample:

    http://bhbanco.blogspot.com/2007/10/u-of-m-business-school-promotes.html

    Whirlpool Vice President Jeff Noel told U. of Mich.
    business school students and faculty that if you want poor peoples’
    land, and have justice groups “on your back,” simply bring in Habitat
    for Humanity to build a few houses and donate some appliances.
    Can you even imagine the hutzpah of this public statement?

  • SW Michigan Resident

    I wouldn’t trust that blog as far as I can spit it. Is there audio or a transcript of Noel’s comments? Or is this just BS made up by Pinkney?

    Pinkney is a proven and convicted liar and charlatan. His “Banco” organization is simply a scam to enrich and empower Ed Pinkney. Look into his history. He;s a mini Jesse Jackson, seeks press like a bug seeks a nightlight.

    • Gormatthews

      SW Michigan Resident sounds extremely familiar. His/her tone is characteristic of Berrien Cty., unfortunately. As the possibly 2-3 decades long torturous BH gentrification process has gone on, voices like this have multiplied and gotten louder in direct proportion to the crimes committed in and on that community. The only loud BH whistleblower, Rev. Pinkney, has been vilified like courageous African-Americans before him. He has been scrutinized and each action he takes is reported and distorted by the county media. Luckily, Chicago writers and others have done excellent, honest reporting which can be found posted in various places at bhbanco.org.

      • SW Michigan Resident

        Do yourself a favor and check out Pinkney’s story. He claims to be a “reverend” of something or other. He was caught red-handed committing vote fraud…paying people $5 to sign some papers, which turned out to be absentee ballots. He was convicted, of stealing the voting rights of BH residents. And he was unapologetic. Then he threatened the judge who sentenced him. He got away with that on appeal.

        He’d a newcomer in BH, his story before that also includes fraud. If you want to trust him, be my guest. Just know what you’re getting. He’s one of the reasons BH is in trouble today.

  • winterinthehinterland

    There are so many allegations that need to be thoroughly investigated. Eclectablog, Rachel Maddow and many others deserve our thanks for bringing attention to the matter – and for not letting it die!
    There are plenty of accusations to go around. It’s time to channel
    your anger and frustration into substantive action. Stay positive,
    focused and act from the heart. “Be the change you want to see”.

  • Savebentonharbor

    And now all the people that were to hold Whirlpool accountable to donate that $3.7 million back to the city of Benton Harbor have been ‘dismissed’ or fired. Leaving Harris the option to sell off parts of the city to St. Joseph and maybe Harbor Shores to cover the $6 million dollar debt that Whirlpool caused. How long before there is no more Benton Harbor and just St. Joseph and Harbor Shores, MI.

    • SW Michigan Resident

       Sigh…Whirlpool didn’t cause that debt. The debt is due in large part to city council members who never understood the concept of spending less than their revenue. The other part of the debt is due to the the incompetence of the city’s financial managers, and a near-complete inability to collect fees from residents.

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