Patriot Coal

More News and Commentary

WSJ: ‘Who Wants to Buy a Coal Mine?’

John W. Miller and Matt Jarzemsky for the Wall Street Journal: “There’s just a vacuum of strategic buyers, especially at a larger scale,” said Fred Vescio, a managing director at investment bank Houlihan Lokey. Three major U.S. coal companies—Patriot Coal, Alpha Natural Resources Inc. and Walter Energy Inc.—filed for bankruptcy protection this year. Patriot is […]

October 14, 2015 Read More →

Mine Workers Lose Benefits as Execs Make Out on Coal Bankruptcies

Alec MacGillis for Pro Publica: There was plenty in the complex deal to benefit bankers, lawyers, executives and hedge fund managers. Patriot Coal Corp. was bankrupt, but its mines would be auctioned to pay off mounting debts while financial engineering would generate enough cash to cover the cost of the proceedings. When the plan was […]

October 1, 2015 Read More →

Patriot Coal Mine Reopenings Serve ‘Pathway to Higher Purpose’ Through Carbon Credits

Nonprofit Virginia Conservation Legacy Fund Inc.’s planned purchase of several Patriot Coal Corp. mines in West Virginia is a “pathway to a higher purpose” and a possible business model for coal producers hoping to survive a carbon-constrained economy, the CO2 offset generator told SNL Energy. But the firm will need to overcome union resistance to […]

September 1, 2015 Read More →

Miners Challenge Patriot Coal’s Bankruptcy Scheme

Jonathan Mattise for the Associated Press: Busloads of United Mine Workers of America miners and retirees roared in protest outside Patriot Coal headquarters Monday, as the bankrupt company looks to nix a union contract that includes pension contributions and health benefits. From a makeshift stage on the bed of a tow truck, UMWA President Cecil […]

August 18, 2015 Read More →