Black Liquor Scorecard: 21 Companies Earned $6.5 Billion in 2009
The $6.5 billion in controversial black-liquor credits earned in 2009 by 21 publicly traded pulp and paper companies was far more than their total profit for the year.
Despite the government’s unintended largesse, the 21 companies had combined net income of about $3 billion, according to an exclusive Dead Tree Edition analysis of documents filed with the Securities and Exchange Commission.