UMWA will protest Patriot Coal bankruptcy ruling

[Omaha Steve]

http://www.laborradio.org/Channels/story.aspx?ID=1974063

5/31/2013

By Doug Cunningham

[Phil Smith]: “This is obviously very disappointing, it’s unfair and its wrong. We disagree with her ruling and we’re going to appeal it.”

United Mine Workers of America spokesman Phil Smith reacting to the bankruptcy court ruling letting Patriot Coal eliminate its collective bargaining agreement and cut off retiree health care. Patriot was created by Peabody Coal, given 43 percent of Peabody’s liabilities and just 11 percent of its assets. The union says it was set up to fail so the world’s largest coal company could get away with using bankruptcy court to rob retirees of their health care benefits.

[Phil Smith 2]: “Peabody Energy is a billion dollar worldwide company. It’s the largest coal company in the world. Arch Coal is a multi-million dollar coal company. It operates in the United States. These companies are both healthy, they’re both doing well. And they were able to devise a scheme that allowed them to get out of the long-term obligations that they made to their employees and get away with it. And if that’s going to be the case there’s nothing that keeps any other employer from doing the same thing to every employee in this country that has some sort of retiree health care or long-term retirement obligation. There’s just nothing. And that’s the real bad implication about this that workers in America need to understand.”

[Vincardog]

1. I am personally convinced that the "Monied Elite" are TRYING to force us into armed revolt against

Their Greed and unenlightened self interest. Why7 else would they insist on such idiotic practices?

[Lugnut]

2. Because they can and who will stop them?

We are fighting the same battles that have already been fought and won. It pains me that a judge would side with Patriot Coal.