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Winds of Change Newsletter, May 2007 See sidebar for table of contents
No Picnic, Mo Money
by Dave Peyton, Charleston Daily Mail,
April 30, 2007
Massey Energy, which mines millions of tons of coal
in West Virginia, announced that it would not have a summer picnic for
its employees this year.
In recent years, the party has been held in Logan.
Prior to that, it was held in Charleston before CEO Don Blankenship got
miffed by Charleston folks who threatened to sue because Masseys picnic
was held on public property and blocked public streets.
A Massey official said economic factors were the
reason the picnic was cancelled. Then, last Thursday, Massey announced
that its first-quarter earnings increased nearly fivefold to $32.6
million.
Add to that the fact that Blankenship made nearly
$27 million in 2006 and the canceling of the picnic becomes somewhat
puzzling.
All thats left to say is Don Blankenship giveth and
Don Blankenship taketh away.
This is OVEC saying, Don has an awfully funny way of calculating
these "economic factors" !
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