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Western Railroad Discussion > PRB Blackjewel news


Date: 07/06/19 09:29
PRB Blackjewel news
Author: fbe

https://trib.com/business/energy/funds-withheld-from-blackjewel-paychecks-not-put-in-retirement-accounts/article_d0bc05a5-ff73-537e-ae62-20f0b8fe2c90.html

The link is to a story concerning Blackjewel's habit of making deductions from employees' paychecks then failing to deposits to the employee social security, 401K and health savings accounts. Mention is made these are nonunion employees.

Embeded in the article are 2 other stories about the bankruptcy and CEO's termination as well as news of how the county is coping.


Here's news about employee pay checks. I cannot find any news about the mentioned Friday 0800 meeting.

https://www.gillettenewsrecord.com/news/local/article_352cb196-0856-5721-a994-18d22c46cd7e.html


News about employee pay and the bankruptcy from the Kentucky side of the country.

https://www.google.com/amp/s/amp.kentucky.com/news/state/kentucky/article232252047.html

It sounds like over 100 Appalachain mines kept running after the July 2 bankruptcy unlike the Wyoming mines which immediately shut down. I wonder how long that will last if the paychecks bounce?

It seems like Blackjewel was running on $20 million of borrowed money and that money was cancelled upon the bankruptcy filing.

.



Edited 4 time(s). Last edit at 07/06/19 10:33 by fbe.



Date: 07/06/19 10:56
Re: PRB Blackjewel news
Author: CPR_4000

fbe Wrote:
-------------------------------------------------------
> The link is to a story concerning Blackjewel's
> habit of making deductions from employees'
> paychecks then failing to deposits to the employee
> social security, 401K and health savings accounts.

Been there done that! (More accurately, had it done to me.)



Date: 07/06/19 12:04
Re: PRB Blackjewel news
Author: MEKoch

When you don't pay the government, they shut you down quickly........



Date: 07/06/19 15:27
Re: PRB Blackjewel news
Author: none




Date: 07/06/19 15:56
Re: PRB Blackjewel news
Author: Lackawanna484

Bankruptcy can be a mess. Stiff the IRS on transfer of tax witholding, and you are in big trouble.

Very big. Trouble.

Posted from Android



Date: 07/06/19 16:11
Re: PRB Blackjewel news
Author: fbe

Seems like tens of millions of $$$$ floating around Hoops in a number of ways with little or none of it ending up with employees, government agencies and investors who have claims on it.

Meanwhile the value of the coal in the mines goes down.



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