RE: 1st Q Earnings Yes they continue to use very creative and confusing accounting so they won't have to pay any tax or use any past credits. Certainly not helping shareholder value though.
Little downside to this stock and require some really good news like a takeover to reach its proper value. Maybe the battle for Champion between UPM and IP will filter in this direction. Merger mania is strong in the paper industry and its only a matter of time before the big players run out of big fish to catch.