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KIPP-ity do da, KIPP-ity aye, my oh my...

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KIPP-ity do da, KIPP-ity aye, my oh my...

Postby jonnygothispen » Fri Jul 19, 2013 11:18 am

http://host.madison.com/wsj/news/local/ ... 317fd.html
...A Dane County judge on Wednesday gave initial approval of the $2.6 million settlement reached between Madison-Kipp Corp. and 52 neighboring homeowners on South Marquette, Waubesa, Dixon and Fairview streets to settle an environmental impact lawsuit.
Sometimes life is just... fair. But what price can you put on the health of the people whose health is, or will be affected by KIPP's negligence?The DNR told KIPP to clean this up in 1994, and their excuse for doing nothing since then is... drumroll please "We were to busy putting up a new factory in Sun Prairie..." seriously...
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby rabble » Fri Jul 19, 2013 11:21 am

Well, it might be fair. It might also be a pittance compared to what would have been levied if the case had gone to court, and the neighbors are discussing that as we speak.
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby jonnygothispen » Fri Jul 19, 2013 11:31 am

I agree: there is no excuse for what they did and how they ignored the clean up order for 19 years.

The average payout for the 52 homes on Dixon, South Marquette, and Waubesa is $32K based on a $177K average property value. The 33 homes adjacent to the KIPP property get an average of $82K: pro-rated based on property values.

Along with that, KIPP finally has to clean it up and offer free ventilation systems in every basement along with 5 years of free maintenance for the 85 homes involved.

As far as I know, 6 homes have the vapors now.

But I'm thinking in terms of corporations that pay nothing, and get away with it. Or stuff like BP using their clean-up costs as a tax write off. Or the millions of people displaced from the homes in Iraq because of BU$H's bullshit war, etc...
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby jman111 » Fri Jul 19, 2013 12:27 pm

Do you really think that Kipp won't be able (and willing) to write any of this off?
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby rabble » Fri Jul 19, 2013 12:31 pm

jman111 wrote:Do you really think that Kipp won't be able (and willing) to write any of this off?

Are you saying you think this won't really cost Kipp anything because they'll be able to finagle some kind of tax bailout?
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby jman111 » Fri Jul 19, 2013 12:34 pm

I'm not saying it won't cost them anything. I'm just assuming that a corporation agrees to this type of settlement knowing that they can write at least some of it off. Where's Hawk when we need him?
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby rabble » Fri Jul 19, 2013 12:39 pm

jman111 wrote:I'm not saying it won't cost them anything. I'm just assuming that a corporation agrees to this type of settlement knowing that they can write at least some of it off. Where's Hawk when we need him?

It seems to me that trying to write off costs stemming from decades of disobeying federal pollution laws might be problematic. But I'm not up on corporate law. Maybe it's common.
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby HawkHead » Fri Jul 19, 2013 1:04 pm

jman111 wrote:I'm not saying it won't cost them anything. I'm just assuming that a corporation agrees to this type of settlement knowing that they can write at least some of it off. Where's Hawk when we need him?


As long as it isn't a penalty, in most cases, it is deductible. This is another reason that corporations don't take chances on trials. If you settle out of court most if not all of the expenses are deductible. You might have to amortize the expense over a certain number of years but you get the deduction.

If a corporation goes to trail and loses part of the monetary award is deductible and part will not be.

Trust me, KIPP did a cost-benefit study on the case and decided that the offer made was better for them than taking the case to court and loosing. The tax ramifications of the awards were factored into their decision.
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby jonnygothispen » Fri Jul 19, 2013 1:56 pm

Our corporate controlled Government uses taxpayer money to subsidize wages for low paying corporate jobs, and subsidizes clean ups, yet the corporate controlled media never mentions this Gee whiz
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby snoqueen » Fri Jul 19, 2013 3:27 pm

Not that their rates won't go sky high after this, but don't businesses have liability insurance for just these kinds of situations?
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby Henry Vilas » Fri Jul 19, 2013 3:31 pm

If they do have coverage, the insurer probably will drop them at renewal time.
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Re: KIPP-ity do da, KIPP-ity aye, my oh my...

Postby HawkHead » Fri Jul 19, 2013 3:56 pm

snoqueen wrote:Not that their rates won't go sky high after this, but don't businesses have liability insurance for just these kinds of situations?


I am sure they do but I would guess there is a clause in the contract that the insurance company will use to get out of paying.
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