Ted Pile News
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When a federal labor board ruled in September that a West Virginia coal mine had illegally refused to hire union workers, 61-year-old Dave Preast thought his nine- year ordeal was finally coming to an end.
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Massey Energy Co. managers pressured coal miners to fabricate safety reports to mislead inspectors before the 2010 West Virginia mine explosion that killed 29 people, federal investigators said.
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Bank of New York Mellon Corp. filed a court petition seeking approval of an $8.5 billion settlement with Bank of America Corp. over residential mortgage- securitization trusts.
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Massey Energy Co . is to blame for the fatal explosion at its Upper Big Branch mine in West Virginia last year, the deadliest U.S. mining disaster in 40 years, an investigator for the state said.
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Alpha Natural Resources Inc. , the third-biggest U.S. coal producer, is close to an agreement to buy Massey Energy Co. for about $7 billion, according to a person familiar with the situation.
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Massey Energy Co. , owner of the Upper Big Branch mine where 29 people died in April, is studying options ranging from a sale of the company to a takeover of Wilbur Ross ’s International Coal Group Inc. , according to three people with knowledge of the matter.
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Massey Energy Co. , owner of the Upper Big Branch mine where 29 people died in April, surged after the Wall Street Journal said the company is weighing a takeover offer from Alpha Natural Resources Inc.
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Four of the largest U.S. coal producers made $20 billion of acquisitions last year to reduce their dependence on the domestic power industry. Instead those deals have added to the companies’ pain.
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Peabody Energy Corp. and Consol Energy Corp. operate the two coal mines that lead the U.S. in violations, with more than double the total of Massey Energy Co.’s operation where 29 people were killed this month.
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Alpha Natural Resources Inc. ’s decision to retain top executives of Massey Energy Co. , owner of the West Virginia coal mine where 29 workers died last year, is being questioned by two Democratic lawmakers.
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