Nyse: Mee

Tue, 2010-01-12 13:01Kevin Grandia
Kevin Grandia's picture

Massey Energy running attack ads against "tree hugging extremists"

Massey Energy (NYSE: MEE), the 4th largest coal producer in the country is running political-style attacks in West Virginia claiming that “tree hugging extremists and self-serving politicians” are killing jobs, while the coal industry is “fighting hard for Appalachian jobs” and “what’s right.”

I am assuming that when Massey talks about fighting for Appalachian jobs they aren’t referring to the fact that earlier in 2009 they cut employee pay by 6% and then recently increased the performance bonus for Massey’s CEO, Don Blankenship, by $600,000.

And I think it’s also safe to assume that when Massey talks about fighting for “what’s right” they aren’t talking about the major environmental violations over the years culminating in a record $20 million settlement with the Environmental Protection Agency. The EPA stated that Massey had violated its Clean Water Act permits “… more than 4,500 times between January 2000 and December 2006.”

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