Smurf’s yacht
The bigwigs at Smurfit-Stone Container got ginormous bonuses. If you wonder why people need a million dollar bonus when they’re getting a million dollar salary, maybe it’s because some of their toys cost way more than a million dollars.
This reminder from Matthew Koehler of the new yacht Michael Smurfit, “the Irish packaging tycoon,” purchased last March. Story from the London Times.
The 213ft vessel will have five decks with a spa, pool, cinema, beauty salon, gym, massage room and sun deck.
Read the latest “operating results” posted on Smurfit’s Web site here. The corporation has a pretty navigable “restructuring” page here with more than you ever wanted to know about its bankruptcy.
– Keila Szpaller
February 9th, 2010 at 12:06 pm
Matthew and his fellow taxpayers bought that boat for the boss man with the 500 million dollars in tax rebates that Roy Houseman lobbied for on behalf of the Smurfit Stone Corporate welfare cheats. Where’s the outrage over 500 million bucks?