But the coal miners still think it's Obama's fault and the Dems… always somebody else's fault, immigrants etc. when they lose their job. The writing has been on the wall for decades.
Coal Companies Are Dying While Their Execs Grab More Cash
Talk about expecting society to provide a job - hello coal miners….
Coal Companies Are Dying While Their Execs Grab More Cash
A study this spring from the Carbon Tracker Institute found that over the past five years, coal producers have closed nearly 300 mines and lost 76 percent of their value. In August, Alpha Natural Resources, the country's second-largest coal company, filed for bankruptcy, making it the biggest domino to fall in a string of more than two dozen corporate collapses during the past couple of years. On Monday, one of the company's top executives resigned. Meanwhile, shares of Peabody Energy, the world's biggest coal company, hit their lowest price ever, dipping below $1. A year ago, Peabody's share price was hovering above $15; it peaked at $72 back in 2011. The stock plunge at Arch Coal was even more extreme—it fell from $3,600 to under $2 between 2011 and August 2015. (It has since rebounded slightly.) This year, both companies have been among the worst performers in the S&P 500.
Talk about expecting society to provide a job - hello coal miners….