  We consider the Grothendieck ring of the fusion algebra of the W-extended
logarithmic minimal model WLM(1,p). Informally, this is the fusion ring of
W-irreducible characters so it is blind to the Jordan block structures
associated with reducible yet indecomposable representations. As in the
rational models, the Grothendieck ring is described by a simple graph fusion
algebra. The 2p-dimensional matrices of the regular representation are mutually
commuting but not diagonalizable. They are brought simultaneously to Jordan
form by the modular data coming from the full (3p-1)-dimensional S-matrix which
includes transformations of the p-1 pseudo-characters. The spectral
decomposition yields a Verlinde-like formula that is manifestly independent of
the modular parameter $\tau$ but is, in fact, equivalent to the Verlinde-like
formula recently proposed by Gaberdiel and Runkel involving a $\tau$-dependent
S-matrix.
