Peabody Energy

(via Arch Coal)

A fight over retiree health benefits landed in front of Arch Coal’s Creve Coeur headquarters Tuesday morning.

The United Mine Workers of America union argues Arch and Peabody Energy both bear responsibility for 10,000 miners’ health benefits jeopardized in another company’s bankruptcy.

St. Louis-based Patriot Coal was spun off from Peabody in 2007 and then bought a former Arch subsidiary in 2008.

The UMWA has filed suit against both Peabody and Arch in West Virginia claiming they purposely shed liabilities such as retirees’ health benefits.

This article first appeared in the St. Louis Beacon: MORE, a regional activist group that has been protesting Peabody Energy policies for months, is taking its opposition to a new level by seeking a St. Louis charter amendment that would bar any additional city aid or tax breaks to Peabody or any other firm involved in "unsustainable energy production" – and any other major entity dealing with them.

(Rachel Lippmann/St. Louis Public Radio)

More than a thousand United Mine Workers of America members were back in St. Louis on Monday, the latest in a series of protests against Peabody Energy and its handling of their  retirement and health care benefits.

(Maria Altman/St. Louis Public Radio)

A motion by Patriot Coal to cut health benefits for 10,000 retired miners was heard Monday in a federal bankruptcy court in St. Louis.

More than 1,500 protesters, many with the United Mine Workers of America, rallied in downtown to draw attention to the case.

The UMWA is angry with Patriot for asking a federal bankruptcy judge to allow it to shed about $1.6 billion in liabilities.

But they also direct their anger at Peabody Energy, which spun off Patriot in 2007.

Sean Sandefur/ St. Louis Public Radio

Hundreds of retired and current union miners from across the country descended on St. Louis on Tuesday to protest Peabody Energy and the potential loss of their pension plans.

Most of the miners worked for either Peabody Energy or Arch Coal, but their benefits are threatened by the bankruptcy of Patriot Coal last year. Patriot was spun off from Peabody in 2007, along with the healthcare obligations of many Peabody and Arch Coal employees.

A view of the outside of the Peabody Energy building in St. Louis.
St. Louis Public Radio

One of the nation's biggest coal producers says federal security regulators are investigating the company's role in development of a southwestern Illinois power plant.

St. Louis-based Peabody Energy Corp. says in its annual report that the Securities and Exchange Commission served the company with a subpoena last month requesting information and documents related to the Prairie State project.

(Adam Allington/St. Louis Public Radio)

Hundreds of miners from across the country protested outside of St. Louis-based Peabody Energy on Tuesday.

The miners are accusing Peabody of orchestrating a bankruptcy in order to skip out on pension and healthcare benefits owed to some 10,000 retirees and their dependents.

At the heart of the dispute is Patriot Coal Corp., which was created by Peabody as a stand-alone company in 2007.  In creating Patriot, Peabody also transferred a hefty chunk of Peabody’s outstanding pension obligations onto Patriot’s books.

(Joseph Leahy/St. Louis Public Radio)

About 150 activists marched outside Peabody Energy’s annual stockholder meeting in downtown St. Louis today.

The protesters decried an unfair tax code that they say allows  the energy company to dodge paying its fair share of taxes. For instance, they say Peabody paid $0 in federal income taxes in 2008 and 2009; and $0 in state income taxes in 2010.

Peabody Energy's Corporate Communications Director Meg Gallagher says, however, the group’s numbers are inaccurate.

(UPI/Bill Greenblatt)

Coal-mining giant Peabody Energy Corp. says its third-quarter earnings climbed 22 percent and demand for coal is still rising for power generation in Asia and Europe.

Separately, Peabody says the steel maker ArcelorMittal has pulled out of their joint bid to buy Australia's Macarthur Coal Ltd. for about $5 billion, and will sell its interest to Peabody.

Peabody shares fell 1.7 percent to $40.25 in premarket trading.

A view of the outside of the Peabody Energy building in St. Louis.
St. Louis Public Radio

Peabody Energy Corp. says its profit rose in the first quarter due to higher prices for Australian coal used in steelmaking and increased demand in the U.S.

The world's biggest private-sector coal company says its net income attributable to common shareholders was $176.5 million, or 65 cents per share, in the January-March period. That's up from $133.7 million, or 50 cents, a year earlier.

St. Louis-based Peabody says first-quarter revenue rose 15 percent to $1.74 billion from $1.51 billion the previous year.

Peabody Energy to stay downtown, expand

Mar 2, 2011

St. Louis-based Peabody Energy announced today that it will keep its headquarters in downtown St. Louis for at least another 15 years.

Peabody is a Fortune 500 company employing more than 600 people in St. Louis.

The company had been offered a package of $10 million in Federal New Market tax credits to fund upgrades to their downtown high-rise.

  • Missouri House members have voted to cap the state's minimum wage at the federal rate. The legislation would essentially overturn a 2006 voter-approved law that lets Missouri's minimum wage rise above the federal level based on annual inflation. Proponents contend capping the minimum wage would help small business. They also say it could be difficult for Missouri businesses to compete if the state's minimum wage is higher than those of neighboring states. Critics defend Missouri's existing law and say legislators should not overrule a measure approved by the voters.
(St. Louis Public Radio)
  • According to the St. Louis Post-Dispatch, a federal judge granted a preliminary injunction yesterday that prevents St. Charles county from enforcing a law passed last month putting tight restrictions on protests near funerals. The Westboro Church of Topeka, Kan., sought an injunction on the grounds that the law violates the First Amendment. The order halts enforcement of the law while the constitutionality of the ordinance is thoroughly reviewed.
(UPI/Boeing Aircraft Handout)

A senior administration official says China will announce deals Wednesday to purchase $45 billion in U.S.
exports, including a $19 billion agreement to buy 200 Boeing airplanes, according to the Associated Press.

The official says the deal will create 235,000 jobs in the U.S.

It is important to note, however, that these planes will be commercial aircraft. Moreover, the St. Louis division of Boeing, which produces military aircraft, is unlikely to benefit directly from today's deal.

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