Billionaire owes cowardly Seattle City Light nearly $2 million

We learned today that billionaire Martin Selig’s real estate company owes more than $1.9 million to Seattle City Light. Why hasn’t Seattle City Light collected? They’re pretty toothless and cowardly.

Jim Brunner over at The Seattle Times reports:

In all, dozens of Selig accounts are more than 30 days past due, for a total $1,934,360, including late fees, according to City Light. Roughly $1 million of that has gone unpaid for more than 90 days.

Selig’s firm, which has a history of falling behind on electric bills, has been working to catch up, making a $506,000 payment Aug. 5 and promising to deliver an additional $462,000 Monday under a repayment plan negotiated with City Light.

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Though City Light acknowledges that this is “an unusual situation” they’re allowing Selig’s company to adhere to a payment plan. Brunner says if Selig’s company sticks to the schedule, “it would bring its accounts to no more than 45 days outstanding by the end of the year.”

This seems unacceptable to me.

Yes, City Light goes out of its way to avoid shutting off power for folks who fall behind on the bills. But we’re generally talking about a few hundred dollars owed by your average customer. To be owed nearly $2 million from a company owned by a billionaire seems like bad management from City Light, particularly since about $1 million is over three months overdue.

The whole nebulous demand that the rich “pay their fair share” is silly and mostly meaningless pandering that completely misses the boat on addressing a very complex issue. City Light is right to offer a helping hand to the non-billionaires of the world; but they should be more aggressive with Selig who, presumably, can write a personal check to City Light and get repaid from his company on a payment plan. City Light shouldn’t have to wait this long.

Let’s urge them to put on those adult pants and get a bit more aggressive in their collections process.

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