The largest U.S. coal company may go out of business (Peabody Energy)

CNN ^ | March 16, 2016 | Chris Isidore

[rdl6989]

Peabody Energy, the world's largest private-sector coal producer, warned early Wednesday it may go out of business, the latest sign of the brutal conditions in the battered industry.

In a regulatory filing the company said that ongoing losses and its decision to miss certain interest payments means it may not have enough cash to "sustain operations and continue as a going concern."

[blueunicorn6]

“Daddy won’t you take me back to Muelenberg County
Down by the Green River with a job with good pay.

Sorry my Son but you’re too late in asking
Mr. Peabody’s coal company has gone away.”

[Gaffer]

Yes.....I am duly (rightfully) chastised....:0) Allah be praised!

[blueunicorn6]

Hey!

You heard that song, too.

[blueunicorn6]

Hey!

Lots of people have heard that song, I guess.

[griswold3]

another headline over there:
Cheap Oil hits Middle East Budgets: We can no longer ‘provide for everything’.

[rdl6989]

https://www.youtube.com/watch?v=bDCsc3CU5ww

[Zathras]

Mr Peabody’s coal train hauled away?

[Mad Dawgg]

I know in my neck of the woods the EPA coal mess has gutted our local economy and done so for most of Appalachia.

Washington D.C. has targeted my area for economic destruction and they have succeeded.

[Gaffer]

I remember as a boy living in my grandpa’s house with a well outside and outhouse. The best thing we had was a pile of anthracite coal outside that fed that stove inside.

Didn’t need a tank, didn’t need protection from the rain, didn’t stink the place up. I wonder where we could have kept all that cheap oil?

[Paine in the Neck]

Any predictions of which Friends of Obama pick up the pieces of Peabody for pennies on the dollar? [cough...Soros, Buffet...cough]

[rdl6989]

Any predictions of which Friends of Obama pick up the pieces of Peabody for pennies on the dollar? [cough...Soros, Buffet...cough] You know it's coming.

[stockpirate]

Isn’t Soros buying up coal companies on the cheap?

[Chewbarkah]

Don’t worry — Chinese will buy Peabody for 2 cents on the dollar, and reopen using new H1B immigrants. The U.S. corruptment will give them a waiver on safety and EPA regs, so they’ll be back in the black in no time.

[Duckdog]

Montana is on the list also.

[blueunicorn6]

Thanks.

I always wondered who wrote that song.

John Prine is a great songwriter.

[Riflema]

“back in the black”. Like it.

[lowbridge]

[lowbridge]

[E. Pluribus Unum]

Now Soros will scoop it up at a bargain price.

That investment he made in Obola is really paying off!

[woodenickel]

Sorry folks, the coal miners will still vote Democrat, to there own demise