A federal bankruptcy judge granted a motion Wednesday allowing St. Louis-based Patriot Coal to make major changes to retirees’ health benefits.
Patriot estimated it had more than $1.6 billion in health liabilities for some 23,000 retired miners and their families.
The company said it could not emerge from bankruptcy with those obligations and is instead offering the United Mine Workers of America a 35 percent stake in a new company, as well as a healthcare trust fund for retirees.
It’s not uncommon for companies to have a policy concerning corporate social responsibility. But, do companies have an obligation to help communities? If so, is it just certain types of businesses? Plus, how do you factor in a company’s desire to help and, at the same time, benefit the bottom line?
Fast food workers and community supporters passed out flyers at Jimmy John’s in Soulard today in the continuing fight for better wages and the right to unionize as part of the STL Can’t Survive on 7.35 campaign.
The flyers were passed out in the parking lot of the restaurant around Noon and called for better managerial treatment and higher wages.
Olivia Roffle is a college student who works at another fast food restaurant. She says that if Jimmy John’s wants better service, then they need to create a welcoming environment.
Hundreds of thousands of American workers are paid the minimum wage. It’s $7.25 nationally and $7.35 in St. Louis. While the perception may be that minimum and low wage jobs are mostly held by teens, the vast majority, 75 percent, are adults over the age of 20.
Recent local news reports have highlighted protests by minimum wage earners. They are demanding that their pay be nearly doubled. The campaign is called “St. Louis Can’t Survive on $7.35.”