| ND State Mill Loses $9.7M; Manager Gets Raise |
| 9/10/2009 |
| The directors of North Dakota`s state-owned flour mill have given its manager a 4 percent raise after the mill reported a $9.7 million annual loss. Members of the state Industrial Commission voted Thursday to increase Vance Taylor`s pay to $181,505. The raise is retroactive to July 1, when the state`s budget year started. Taylor won`t be getting a bonus that he would earn if the mill were profitable. Gov. John Hoeven, Agriculture Commissioner Doug Goehring and Attorney General Wayne Stenehjem make up the Industrial Commission. The commission is the board of directors for the mill and the state-owned Bank of North Dakota. The mill has lost money for two straight years, but Hoeven says its financial outlook is improving. It reported a $3.4 million profit during April, May and June - the last three months of its budget year. Hoeven, Stenehjem and Goehring blame the losses on volatile grain markets and say flour mills across the country had similar problems. |
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