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"The fight is never about grapes or lettuce. It is always about people." Cesar Chavez |
:: Saturday, January 07, 2006 ::
Vulture in a Coal Mine - Posted by wharkavy, Village Voice
Rescuing dying mine companies? Wilbur Ross is your man. Rescuing dying miners? Well, er, uh …
In the bidness world, Ross's taste runs to a combination of union-busting, federal bankruptcy laws, and corporate welfare. That enables him to turn over pension and health-care obligations to the overburdened federal government so that he and his partners can rake in huge profits from 'turning around' distressed industries. More from Bowen's story:After the sale, six union operations previously owned by Horizon were shut down. The nonunion mines remained open.
Under the bankruptcy and reorganization plan, U.S. Federal Bankruptcy Judge William Howard in August agreed that Horizon should not be responsible for $800 million in health insurance contractual obligations to more than 3,000 active and retired United Mine Workers of America union members.------------------------------------------- posted 5:10 AM :: reference link ::
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