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Tue Apr 9, 2019, 09:40 AM

Jim Justice, Deadbeat Republican Governor of West Virginia

James C. Justice II is many things. He is a coal mining billionaire, with an estimated net worth of $1.5 billion. He is the 36th governor of West Virginia. He owns (along with his kids) some 100 companies. He was elected as a Democrat, but switched parties once in office. He is the owner of the Greenbrier, a gaudy 710-room luxury resort near White Sulphur Springs that dates to 1778 and once housed the nuclear fallout shelter of the United States Congress. Justice is 68 years old, 6 foot 8 and weighs 368 pounds. He has a sandwich named after him at the local Arby’s, while at Hardees there hangs a handwritten note: “Hardees Gals—Please take care of Big Jim—A great guy—Donald J. Trump.”

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Since 2016 courts have ordered Justice and his companies to pay more than $10 million to more than a dozen suppliers, workers and government entities. Over the same time, his companies also piled up $13 million-plus in tax liens. He claims to have paid off many of these. Still looming: another $60 million in potential damages in a civil case awaiting final judgment, plus up to $3 million in fines in Kentucky. And then there’s mine reclamation. By federal law, when a surface mine closes, the operator has to restore the landscape. Virginia’s Department of Mines, Minerals and Energy estimates that Justice’s coal companies face $200 million in reclamation liabilities. (Justice claims it will cost closer to $10 million.)

These are sums worth fighting over, even for a billionaire. The entirety of Justice’s empire rakes in some $450 million in annual sales (their number), mostly from mines, farms and the Greenbrier. The biggest chunk: the decades-old Bluestone coal mines, which will extract an estimated 2 million tons this year, fetching in the neighborhood of $270 million. It’s a low-margin affair: Annual profits to the Justice family are probably on the order of $20 million.

Overhead is low, too. “Hard to believe we run everything with a card table and a bucket of chicken,” he says. “It’s not like we have layers and layers of managers like a big giant public company. But it’s not run haphazardly.” In his mind, every asset has to pay for itself. “I’m a believer in the way I try to run things, which is if you have XYZ company and it has an obligation, then XYZ needs to handle that and is not going to run from it.”


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Reply Jim Justice, Deadbeat Republican Governor of West Virginia (Original post)
UpInArms Apr 9 OP
Wounded Bear Apr 9 #1

Response to UpInArms (Original post)

Tue Apr 9, 2019, 09:42 AM

1. Sounds like a Trump clone...

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