enlarge Now that Don Blankenship is out as head of Massey Energy and the company faces serious charges with regard to its safety record and last year’s explosion, company executives have decided it’s a good time to have the company sold to a company with better government…um..relations. So Massey Energy will become part of Alpha Natural Resources , in a deal that will allow Massey to benefit from Alpha’s better safety record while giving Alpha a hard lock on the coal mining business. Massey Energy, the embattled coal mine operator, agreed on Saturday to sell itself for about $7.1 billion in cash and stock in a deal that will create a new giant in coal production — and could help Massey shed legal burdens arising from a marred safety record that includes the explosion last year at the Upper Big Branch mine in West Virginia. Under the terms of the deal, Alpha Natural Resources will pay 1.025 of its own shares and $10 in cash, for a total of $69.33 as of Friday’s market close, for each Massey share. That represents a 21 percent premium to Massey’s Friday closing price of $57.23. The deal will unite two of the biggest American producers of coal, with more than 110 mines and about five billion tons of combined reserves throughout the Appalachian region, the Midwest and Wyoming. It will also bolster Alpha’s presence in the growing market for metallurgical coal, which is used to make steel. Massey has enormous reserves of metallurgical coal, and it has increased its exports to countries like India and Brazil, where strong demand has driven up global prices for the material. Massey agreed to the deal today, after stomping their corporate feet and singing “lalalalala” with their fingers in their ears to the government’s findings that the cause of last year’s blast was a combination of broken equipment, poorly maintained safety devices, and coal dust. Massey Energy Co. on Friday rejected nearly every part of the federal government’s theory on what caused the deadly explosion at its Upper Big Branch mine in West Virginia last spring, killing 29 men. The Richmond-based coal company doesn’t think that worn shearer bits, broken water sprayers or an excessive buildup of coal dust contributed to the blast, Vice President and General Counsel Shane Harvey said. Instead, Massey continues to argue that there was a sudden inundation of natural gases from a floor crack that overwhelmed what it insists were good airflow and other controls that should have contained the blast. The Mine Safety and Health Administration has played down the significance of the crack, arguing that it was not venting methane and that any explosion is preventable with proper safeguards. It presented preliminary findings from its continuing investigation last week, saying Massey records and evidence from inside the mine point to poor maintenance as the cause of the blast. Timing is everything. Massey faces stiffening regulatory oversight, as well as several state and federal investigations into its operations. On Friday, the company contested the findings of a federal regulator’s inquiry into the Upper Big Branch incident, the worst mining accident in 40 years. A company executive rejected claims that the explosion arose from faulty equipment and excessive levels of coal dust. Those legal troubles have weighed on Massey: After the Upper Big Branch explosion, the company tallied about $150 million in related expenses, and for for the 12 months ended Sept. 30, it reported $2.9 billion in net revenue but a $72.2 million loss. Mr. Crutchfield said that he planned to draw on his company’s cleaner safety and environmental record to help resolve Massey’s legal issues, which he conceded would take time. Which translated means this: Alpha knows someone who knows someone who will give them a break if they promise to clean up their act. And it only cost them a few billion dollars.
Continue reading …Fighter jets swooped low over Cairo Sunday in what appeared to be an attempt by the military to show its control of a city beset by looting, armed robbery and anti-government protests. (Jan. 30)
Continue reading …One Plastic Beach from Tess Thackara on Vimeo . For artists Richard Lang and Judith Selby Lang, visiting their favorite stretch of Northern Californian coastline is a like taking a trip to an art-supply store. For the over 10 years, the couple has been collecting bits of plastic debris, washed-up remnants of the Great Pacific Garbage Patch , and transforming them into works of art which highlight the perilous state of our oceans — while at the same time making somethi… Read the full story on TreeHugger
Continue reading …Escape of Muslim Brotherhood leaders from jail in Cairo leads to fears that hardline Islamists could gain influence Hundreds of members of the banned Muslim Brotherhood, Egypt’s leading Islamist political party, were among thousands of prisoners who escaped during overnight mass breakouts from four jails, security officials said today. Armed gangs took advantage of the chaos in Cairo and other cities to free the prisoners, starting fires and engaging prison guards in gun battles, officials said. Several inmates were reportedly killed during the fighting and some were recaptured. Abdel-Monaem Abdel-Maqsoud, a lawyer representing the Muslim Brotherhood, said 34 members were arrested and taken to a prison north-west of Cairo ahead of last Friday’s mass protests. All 34 got away last night, he said, including seven senior leaders. The organised attacks and dramatic escapes highlighted growing fears in Egypt, the US, and across the Arab world that militant Islamist groups, backed by hardliners in Iran and Syria, may seek to exploit regional unrest – and resulting government weakness – to increase their influence. In a sign of how conventional Arab politics is being turned on its head, thousands of Tunisians turned out today to welcome home an Islamist leader exiled for 22 years by the deposed regime of President Zine al-Abidine Ben Ali. The reception for Sheikh Rachid Ghannouchi, the leader of the Ennahda party, at Tunis airport was the biggest showing by the Islamists in two decades, suggesting that Islamist groups may play a big part in the country’s future governance. Speaking in Tehran, Ayatollah Seyyed Ahmad Khatami, a senior pro-regime cleric, gave Iran’s official blessing to the Egyptian demonstrators, saying they wanted a new Middle East based on Islamic values, following Iran’s example. “An Islamic Middle East is taking shape. A new Middle East is emerging based on Islam … based on religious democracy,” he said. Ali Larijani, the speaker of Iran’s parliament and a former national security chief, accused the US of trying to thwart demands for reform. “The Americans can tolerate seeing blood shed in Egypt but not see a regime fall in Egypt into the hands of the people,” he said. But while the president does not want to appear to be propping up the old order, officials indicated he was worried a new government dominated by the Muslim Brotherhood or other Islamist groups might not honour the treaty with Israel. The foreign secretary, William Hague, said it was not up to foreigners to decide who runs Egypt. But he added: “Certainly we would not want to see a government based on the Muslim Brotherhood.” Islamist leaders say such fears are misplaced and indicative of western misunderstandings about the organisation and like-minded groups. The Muslim Brotherhood’s Kamel el-Helbawy told Reuters that Islamist rule in Egypt would pose no threat to the west because it would be more democratic and broad-based than Mubarak’s “dictatorship”. “A new era of freedom and democracy is dawning in the Middle East and Arab world. That’s more important than declaring that a ‘new Islamist era is dawning’, because I know Islamists would not be able to rule Egypt alone. We should and would co-operate – Muslims, leftists, communists, socialists, secularists,” he said. “Dictators like Mubarak have always told the west, wrongly, there is no difference between Islamists like the Brotherhood and some violent groups who are real fundamentalists. The west is always afraid that if the Brotherhood came to power it would end freedoms or do something [negative] with Israel. But I stress that the Brotherhood are among the people who defend democracy in full, and like to see democracy prevailing, because democracy gives them some of their rights.” The Brotherhood has said it would put the Camp David peace accords with Israel to a referendum if it took power. Egypt Protest Middle East Tunisia Iran Simon Tisdall guardian.co.uk
Continue reading …The X Games are getting an unusual amount of buzz in mainstream outlets because of a Norwegian snowboarder named Torstein Horgmo. He won the gold by landing something called a triple cork, which is the first time it’s been done in competition and a very big deal in X Games…
Continue reading …Click here to view this media So did Fran Townsend (former Homeland Security Advisor under George Bush) just admit we sent (via rendition ) detainees to Egypt to be tortured? Sort of, unintentionally. Marcy Wheeler at Firedoglake has more. When Mona Eltahawy explicitly described what many of us learned from Jane Mayer –Hosni Mubarak’s appointed Vice President, Omar Suleiman, has a long history of cooperating with us in accepting and torturing people rendered to Egypt–and when Wolf asks whether this went on in the Bush Administration (it dates back to the Clinton Administration), Townsend explains the best known example is that of Maher Arar. Wolf corrects her that that involved Syria. Poor Fran can’t even keep her torture states straight. She should have remembered former CIA agent Bob Baer’ s famous maxim: “If you want a serious interrogation, you send a prisoner to Jordan. If you want them to be tortured, you send them to Syria. If you want someone to disappear – never to see them again – you send them to Egypt.”
Continue reading …The protests in Egypt are threatening to transform and democratize the entire region. So why all the “grim faces” on American news channels? Because a free Egypt will mean less American power in the Middle East and expose American and Israel hypocrisy, writes Philip Weiss in Salon . “The danger to…
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