Phillips 66 teams up with local firefighters and makes a video…
The problem is that the Rodeo firehouse was closed due to lack of funds. It took the work of local residents to convince the county that it was needed and emergency grant money was finally found by our (now absentee) supervisor so that the firehouse could reopen last year. The funding is only temporary.Â
In the meantime, taxes paid by Phillips 66 to the county have dropped significantly thanks to what appear to be extremely “creative” accounting practices in the (self) valuation of their property. The county tax assessor can’t reveal the figures supplied that allow the amazing devaluation of this apparently highly lucrative enterprise.
Overall, Phillips 66 reported a profit of $1.15 billion, or $2.05 a share, up from $826 million, or $1.37 a share, a year earlier. Excluding asset-sale gains, write-downs and other items, earnings rose to $1.63 from$1.34 a share.
Phillips 66 has defended their lack of support for local fire by stating publicly that they have their own fire department which is more than sufficient. Â In this “small” fire, apparently mutual aid became necessary. In fact their video talks about the importance of local fire. Where is the support?
I welcome comments of course.