In the first part of the paper we prove several results on the existence of
invariant closed ideals for semigroups of bounded operators on a normed Ri
esz space (of dimension greater than 1) possessing an atom. For instance, i
f S is a multiplicative semigroup of positive operators on such space that
are locally quasinilpotent at the same atom, then S has a non-trivial invar
iant closed ideal. Furthermore, if T is a non-zero positive operator that i
s quasinilpotent at an atom and if S is a multiplicative semigroup of posit
ive operators such that TS less than or equal to ST for all S is an element
of S, then S and T have a common non-trivial invariant closed ideal. We al
so give a simple example of a quasinilpotent compact positive operator on t
he Banach lattice l(infinity) with no non-trivial invariant band.
The second part is devoted to the triangularizability of collections of ope
rators on an atomic normed Riesz space L. For a semigroup S of quasinilpote
nt, order continuous, positive, bounded operators on L we determine a chain
of invariant closed bands. If, in addition, L has order continuous norm, t
hen this chain is maximal in the lattice of all closed subspaces of L.