Western Railroad Discussion > PRB Blackjewel news

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.

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

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.)

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

here's some news i found today. hoops seems like a slease
Blackjewel judge: Paying employees 'the highest priority'https://www.gillettenewsrecord.com/news/local/article_352cb196-0856-5721-a994-18d22c46cd7e.html

Alpha
https://ohvec.org/alpha-bonding/

pocahontas mining lawsuit
https://trib.com/business/energy/second-lawsuit-entangles-wyoming-s-newest-coal-producer/article_a35de89b-dc4d-5636-9251-5413e1c4537f.html

fith third bank lawsuit
https://trib.com/business/energy/revelation-energy-sued-for-loan-default-during-transfer-of-wyoming/article_dd991ede-733c-5465-b0d2-f24a3cb3b937.html

https://www.spglobal.com/marketintelligence/en/news-insights/trending/bcrk57g5w6v2e0z5cbfueq2

resort hotel hoops is building
https://wchstv.com/news/local/developers-making-progress-on-grand-patrician-resort
 



Edited 2 time(s). Last edit at 07/06/19 15:35 by none.

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

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.