Share on Google Plus Share on Twitter Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend

Printer Friendly Page Save As Favorite View Favorites (# of views)   No comments
OpEdNews Op Eds

The F Word: Coal Company Shopping Spree

By       Message Laura Flanders     Permalink

Related Topic(s): ; ; ; ; ; ; ; , Add Tags Add to My Group(s)

View Ratings | Rate It

Author 47864
- Advertisement -

from The Huffington Post

Last week, I noted that rating agency Standard and Poors had upgraded Massey Energy from "hold" to a "buy." Massey's the company that owns the mine where 29 miners were killed in an explosion recently.

Now we find out that Standard and Poors were right: Massey's prospects are only going up -- in fact, they're on a shopping spree!

Perhaps they're just taking George W. Bush's advice from 2001 to heart: the best way to deal with a tragedy is to go shopping. Anyway, the Wall Street Journal reports that Massey completed a purchase of U.S. coal producer Cumberland Resources Corp. for $640 million in cash and 6.5 million of its shares.

One can't help feeling that while Massey's CEO may be on the outs -- there are mounting calls for his resignation -- the bigger problem's the coal industry itself. No fine's enough. And until we see some serious structural changes, the industry is going to continue doing what it has been doing: trading death for profit.

- Advertisement -

The F Word is a regular commentary by Laura Flanders, the host of GRITtv which broadcasts weekdays on satellite TV (Dish Network Ch. 9415 Free Speech TV) on cable, and online at and Support us by signing up for our podcast, and follow GRITtv or GRITlaura on

Follow Laura Flanders on Twitter:

- Advertisement -


- Advertisement -

View Ratings | Rate It

Laura Flanders is the host of "GRIT TV" the new, news and culture discussion program aired daily on Free Speech TV (Dish Network ch. 9415) and online at the popular blog site Flanders also hosts RadioNation, on Air America (more...)

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon

Go To Commenting
/* The Petition Site */
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Strange Sticking Power of Rick Santorum

Welcome to Commonomics: How to Build Local Economies Strong Enough for Everyone

Drone Strikes? What's To Feel Bad About?

Bill de Blasio: A Mayor for the New Economy

Poor Americans Are Drowning: Where Are the Lifeboats?

Laissez Faire Capitalism -- That Is Anything But