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Patriot Coal Corporation Message Board

  • lgflynavy lgflynavy Feb 11, 2009 6:27 PM Flag

    Pressure Management to Sell,,,,

    It can't hurt anything. This is what I am writing to headqaurters. Whether anyone important reads it or not, who knows???

    To Whom It May Concern: Please see that this gets to the CEO - Mr. Whiting, The President and COO - Mr.Vining, and the Board of Directors.

    Unfortunately, Patriot Coals' performance since the spinoff from Peabody had been dismal. Four consecutive QTRs of losses and earnings’ estimates miss. Although revenues continue to increase, the stock PPS has suffered dramatically. Although most coal companies have taken a hit with the economic downturn, many still were able to post decent or even strong earnings. Many coal companies seemed to have “bottomed” awhile back and are starting to recover shareholder value in the stock prices. Patriot Coal seems to be broken and still testing 52 week lows. Even the conference calls are like informal conversations to pass general information/knowledge.

    I am very concerned for my investment here and I understand that representatives from PCX met with ICVL to discuss buyout/entity options. I urge management to seriously consider a buyout. $15.00/share or even a little less would be better than bankruptcy. Please consider selling the company and spare shareholders9the actual owners of the company) any more disappointment and losses. We all have our pride and dignity. But being a good leader means putting egos aside and doing what is best for all. The best interest here for all involved would be for management to sell the company.

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