Investors Have Lost Their Shirts on Peabody; Now Taxpayers Are in the Line of Fire by Tim Buckley, IEEFA.org The U.S. coal sector is in financial distress, a fact that’s been apparent for some time now and is made more evident with this week’s second-quarter earnings report from Peabody Energy. Peabody continues to tank for the main reasons many other major coal producers continue to tank: It made too many top-of-the-cycle, multibillion-dollar debt-funded acquisitions and its executives have continued to pretend that they can’t see the oversupply in a seaborne coal market that is in structural decline. Meanwhile, Alpha Natural…
Investors Have Lost Their Shirts On Peabody; Now Taxpayers Are In The Line Of Fire
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