Walter Energy

More News and Commentary

U.S. Coal Companies Spent Millions on Executive Bonuses and Lobbying Before Filing for Bankruptcy

Jennifer A Dlouhy for Bloomberg News: Five coal-mining companies spent $95 million to lobby U.S. lawmakers and more than half a billion dollars on salaries for top executives in the decade before they filed for bankruptcy, according to a report by an environmental group. At the same time, the companies — Walter Energy Inc., Patriot […]

June 29, 2016 Read More →

On the Blogs: ‘Coal Isn’t Dying Because There’s a War on It’

Barry Ritholtz for Bloomberg View: I never cease to be amazed how people with an agenda massage facts, or omit them, in order to support their cause. It comes up in the investing world, where these agendas often lead to money-losing decisions. Being able to detect this sort of nonsense is good over the long […]

June 21, 2016 Read More →

Market Cap of U.S. Coal Companies Continues to Fall

Christopher Coats for SNL: The combined market value of major publicly traded U.S. coal producers continues to erode, now standing at approximately $4.59 billion, or 4.7% less than in November 2015, according to an S&P Global Market Intelligence analysis. Since April 2011, the group of 13 U.S. coal producers has lost more than 92% of […]

March 23, 2016 Read More →

S&P: ‘No Positive Outlooks’ Across U.S. Coal Sector

Taylor Kuykendall for SNL: Chiza Vitta, an analyst with Standard & Poor’s Ratings Services, noted that six companies are currently rated a “D,” indicating a fairly high level of stress. The companies — Patriot Coal Corp., Walter Energy Inc., Alpha Natural Resources Inc., Arch Coal Inc., Foresight Energy LP and Peabody Energy Corp. — represent […]

March 23, 2016 Read More →

Divestiture Movement, Deepening Distress of Coal Industry, Emerging Battles Over Solar, Overbuilding of Shale Gas Pipelines Highlight IEEFA Energy Finance 2016 Conference in New York City

Panelists From Deutsche Bank, Moody’s, S&P Capital IQ, New York Mayor’s Office, CalSTRS, Massachusetts Attorney General’s Office, Bloomberg New Energy Finance, Norwegian Parliament

COLUMBIA UNIVERSITY, MARCH 14-16; EXPERTS FROM EUROPE, ASIA, AUSTRALIA,  AND THE AMERICAS NEW YORK, Feb. 29, 2016 — The Institute for Energy Economics and Financial Analysis (IEEFA) today announced a 2016 conference lineup that includes leading energy finance experts, industry regulators, institutional investors, activists, market analysts and commentators from around the world. The conference, Energy […]

February 29, 2016 Read More →

Court Allows Walter Energy to Eliminate Workers Rights

Ryan Phillips for Birmingham (Ala.) Business Journal: A federal bankruptcy judge on Monday ruled against a motion to block retention bonuses for Walter Energy executives and also allowed the company terminate the collective bargaining agreements between the company and two unions. The judge allowed the company to reject the collective bargaining agreement between the United […]

December 29, 2015 Read More →
More Stark Words and Pictures on Just How Bad Things Have Gotten for U.S. Coal Producers

More Stark Words and Pictures on Just How Bad Things Have Gotten for U.S. Coal Producers

A Once-Towering Industry Has Become ‘Only a Fraction of Its Former Self’

SNL is out today with an article that explains in stark words and pictures just how bad things are for the U.S. coal industry. The article, by Christopher Coats, starts like this: “In a year that has seen the coal industry’s financing and investment landscape become especially troubling for domestic producers, the market value of U.S. […]

October 22, 2015 Read More →

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 →

Following a ‘Well-Trodden’ Path to Bankruptcy

Garrett Devine for SNL: Alpha Natural Resources Inc. and Walter Energy Inc., like other U.S. coal producers before them, followed a similar path into bankruptcy court and it all began about four years ago. Alpha received a warning from the New York Stock Exchange in April for not meeting the listing standards, was delisted in […]

September 15, 2015 Read More →

Unions Point to Executive Pay in Walter Energy Collapse

Taylor Kunkendall for SNL: United Mine Workers of America criticized Walter CEO Walt Scheller’s more than $6 million in annual salary and other compensation as well as other business decisions. The union said that “vulture funds” that “have purchased the securities of the energy company are seeking nearly $200 million in cuts from workers and […]

September 14, 2015 Read More →