They just missed their debts payment. Let's hope it does not impact ACI and other coal stocks tomorrow.
Scary. That means these big beasts could meet a similar fate. One dinosaur at a time. And the beat goes on.
"Scary. That means these big beasts could meet a similar fate." Yeah,right..Kinda like Goldman folded after Bear and Lehman bellied up? Get real..HOG
Patriot. Hosed the investors (common stock holders) but company lives again.
They won't go away, just restructure, re-negotiate debt, hose us 'commoners', re-negotiate poorly price contracts, then start again.
Less coal on the market, less competition, higher price; econ 101
There need to be some bankruptcies - the Greenies have mandated it.
The problem facing coal is that the utilties for decades have fought tooth and nail against cleaning up the pollution from coal-fired power plants. The Greenies are just stating the obvious.......clean up your act or get the f out of Dodge.