Losses continue at Mercury Marine for everyone except top executives
With the state of Wisconsin still trying to figure out how much money to give Mercury Marine as a ‘reward’ for it not leaving Fond du Lac, the company reported yet another money-losing quarter. Brunswick Corp., the Lake Forest, Ill.-based company that owns Mercury, reported a third quarter loss of $114 million, on top of the billion-dollars plus it has lost in the last two years.
As the Institute for Wisconsin’s Future reported recently, in The Twisted Saga of Mercury Marine, top executives of the firm continue to take home millions in wages, bonuses and free use of Brunswick products. Brunswick/Mercury Marine hasn’t paid a penny in Wisconsin income tax all century.
Meanwhile, workers—those still employed by Brunswick—face reduced pay and benefits, while Fond du Lac County residents pay a higher sales tax to pay for benefits that helped induce the company to stay.
The State of Wisconsin has also promised an aid package for Mercury Marine, but details still have not been announced.
