announce $1.53 million dividend
When the Louisiana Loggers Association organized in Winnfield in April, 1994 to form a self-insured fund for their workers compensation insurance they were paying as much as $51 per $1,000 in payroll, and climbing. Today, with 207 members in the self-insured program, they are paying a stable $20 per $1,000, and returning significant dividends annually.
A dividend payment of $1.53 going out this month brings the total return to a whopping $19,895,613 total payback to members since their organization--within a hairsbreadth of a $1 million per year average. (See advertisement, this issue for details.)
The Association, which claims a group of "the best loggers in Louisiana," maintains a full time safety officer, Jimmy Standley, who is a former logger himself, to perform regular inspections of members' in-the-woods-operations to maintain employee safety to prevent injuries triggering time loss accidents. The safety record allows the payback of over 50 percent of premiums each year.
The Association's board of director members are all active logging contractors, and were the original organizers who have remainbed on duty since the beginning. They commented that the industry is faring better now than the period following the 2008 recession triggered by a collapse in the national housing market. While logging production, which tracks home construction as its main consumer of wood products, is not yet back to the peaks reached in the 1990s and early 2000s, it is stable and rising some, supporting a rebound in logging within the recent past.
Board members, speaking with pride in the Association's perforance, said, "This is the major accomplisnment of our lifetime, a legacy to pass on to the next generation."