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On June 1, 2011, shareholders of Alpha Natural Resources agreed to buy Massey Energy for $7.1 billion, making it the nation's largest metallurgical coal company. Some shareholder groups had tried to block the sale claiming that Massey managers had engineered the sale of the company to protect themselves from liabilities and had arranged new management jobs with Alpha.
Massey and the coal industry maintain that they are creating jobs and would reclaim the mountain, while the activists present a very different picture and claim that with mountaintop removal mining the land cannot be properly reclaimed, that the practice destroys their air and water, produces fewer jobs than traditional underground mining.
Julia "Judy" Belle Thompson Bonds (August 27, 1952 – January 3, 2011) was an organizer and activist from the Appalachian Mountains of West Virginia, United States.Raised in a family of coal miners, she worked from an early age at minimum wage jobs.
Beyond his history of political losses, he's perhaps best known in this coal-producing state as the former chief executive of Massey Energy who spent a year in federal prison for conspiring to ...
A daily look at legal news and the business of law: Investigations of Massey Energy Sprout Like Goldman Probes Massey Energy (MEE), which ran the Upper Big Branch coal mine in West Virginia where ...
The U.S. Department of Labor on Nov. 3 asked a court to shut down Massey Energy's Freedom Energy Mine No. 1 in eastern Kentucky until Massey (MEE) addresses the myriad dangerous conditions there.
The volatile nature of the coal mining sector in the US bankrupted predecessor Alpha Natural Resources in 2015, seven years removed from Alpha's $7.1 billion takeover of Massey Energy. The majority of its workers are non-unionized. [2] In 2011 Alpha was America's third largest and world's fifth largest coal producer. [2]
The coal mining company announced it is "exploring strategic alternatives," which is finance-speak for a possible buyout. Investors are taking the Is Coal Miner Massey Buyout Bait?