For the chairman and chief executive of Murray Energy, an Ohio-based
coal company, the reelection of President Obama was no cause for
celebration. It was a time for prayer — and layoffs.
Robert E. Murray read a prayer to a group of company staff members on the day after the election, lamenting the direction of the country and asking: “Lord, please forgive me and anyone with me in Murray Energy Corp. for the decisions that we are now forced to make to preserve the very existence of any of the enterprises that you have helped us build.”
On Wednesday, Murray also laid off 54 people at American Coal, one of his subsidiary companies, and 102 at Utah American Energy, blaming a “war on coal” by the Obama administration. Although that charge was repeatedly leveled during the election, energy analysts say that the coal-mining business is suffering because of competition from low-cost natural gas and rising production costs of coal, especially in the Appalachian region.
Murray Energy is the country’s largest privately owned coal mining company, with about 3,000 employees producing about 30 million tons of bituminous coal a year, according to its Web site.
The company was the subject of an article in the New Republic that said the firm forced miners to attend a Romney campaign speech in southeastern Ohio in August. Murray denied the account. The New Republic also reported that Murray Energy employees have given more than $1.4 million to Republican candidates for federal office since 2007.
Murray has been a target of environmentalists. Notably, the company has spilled coal slurry into a creek on seven occasions.
Read more: http://www.washingtonpost.com/business/economy/after-obama-re-election-ceo-reads-prayer-to-staff-announces-layoffs/2012/11/09/e9bca204-2a63-11e2-bab2-eda299503684_story.html
Robert E. Murray read a prayer to a group of company staff members on the day after the election, lamenting the direction of the country and asking: “Lord, please forgive me and anyone with me in Murray Energy Corp. for the decisions that we are now forced to make to preserve the very existence of any of the enterprises that you have helped us build.”
On Wednesday, Murray also laid off 54 people at American Coal, one of his subsidiary companies, and 102 at Utah American Energy, blaming a “war on coal” by the Obama administration. Although that charge was repeatedly leveled during the election, energy analysts say that the coal-mining business is suffering because of competition from low-cost natural gas and rising production costs of coal, especially in the Appalachian region.
Murray Energy is the country’s largest privately owned coal mining company, with about 3,000 employees producing about 30 million tons of bituminous coal a year, according to its Web site.
The company was the subject of an article in the New Republic that said the firm forced miners to attend a Romney campaign speech in southeastern Ohio in August. Murray denied the account. The New Republic also reported that Murray Energy employees have given more than $1.4 million to Republican candidates for federal office since 2007.
Murray has been a target of environmentalists. Notably, the company has spilled coal slurry into a creek on seven occasions.
Read more: http://www.washingtonpost.com/business/economy/after-obama-re-election-ceo-reads-prayer-to-staff-announces-layoffs/2012/11/09/e9bca204-2a63-11e2-bab2-eda299503684_story.html
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