Coal miners seek answers after paychecks bounce, mines suddenly close

Discussion in 'Current Events' started by HumbledPi, Jul 9, 2019.

  1. Mrlucky

    Mrlucky Well-Known Member

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    That's the real effect of Obama's economy libs must take credit for.
     
  2. jay runner

    jay runner Well-Known Member

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    Obama was the brown boot trying to break their hyoid bones.
     
  3. HTownMarine

    HTownMarine Well-Known Member Past Donor

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    Anyone suggested that maybe their mine just wasnt profitable?

    No?

    Ok, maybe their mine just wasnt profitable as other mines... kinda like every other competitive business on the planet.
     
  4. Kode

    Kode Well-Known Member

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    Unfortunately, businesses commonly fail to notify employees when they file for bankruptcy protections due to fears of vandalism and theft and the law allows this practice. But more unfortunately, the law requires that upon filing for chapter 7 bankruptcy all financial matters are put in the hands of bankruptcy attorneys who have the sole discretion on what to do about financial questions. As such, any paycheck issued after filing can be stopped, recalled, and cancelled because the attorneys' first obligation under the law is to pay off debts to other businesses is a fair and prescribed way. And often there is no money left over to pay anything to employees. Therefore such paychecks usually prove to be worthless.
     
  5. Kode

    Kode Well-Known Member

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    Bull. A good Democrat would have provided some kind of alternative for the workers, whether training in other fields, extended unemployment compensation, etc. unlike Republicans who seem to plan ways to screw workers for the benefit of Big Business.
     
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  6. Thedimon

    Thedimon Well-Known Member

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    Bovine excrement.
    In any bankruptcy employees are highest priority.
     
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  7. HumbledPi

    HumbledPi Well-Known Member

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    That's not true, and you are confusing Chapter 7 bankruptcy with Chapter 11 and they're very different.

    Chapter 7, priority debt is important enough to jump to the head of the bankruptcy repayment line. Priority debt includes things such as domestic support obligations and employee wages and must be paid before other obligations, such as credit card balances and medical bills.

    Chapter 11, or “reorganization,” the employer remains in business and tries to reorganize and emerge from bankruptcy as a financially sound company. ... If the laid-off employees are owed wages and benefits they become creditors of the company. A creditor could be a bank, supplier or person that has provided money, goods, or services to a company and expects to be paid at a later date.
     
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  8. ronv

    ronv Well-Known Member

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    Guess you missed Trumps promise that he made to them.
     
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  9. Bowerbird

    Bowerbird Well-Known Member

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    So do I

    It is hard to balance environment and jobs

    I found this particularly moving
    https://video.nationalgeographic.com/video/magazine/00000144-e04d-db09-a5d6-e6df86bf0000

    A coal mining community fighting for wind power to save the mountains
     
  10. Bowerbird

    Bowerbird Well-Known Member

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    Not sure about that
    The video I posted earlier suggests alternate energy may be welcomed
     
  11. Mrlucky

    Mrlucky Well-Known Member

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    Dems take credit for Trump's economy. If as Obama said, Manufacturing and coal mining isn't coming back, how come he did NOTHING about it?
     
  12. Kode

    Kode Well-Known Member

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    Bullshit. I lived through one when the company I worked for went bankrupt and we were aware it was going to happen, but any paycheck issued after the filing lost the money, and it was later explained to me by my boss whom I was friends with and kept in contact with.

    You fell for the propaganda pal.
     
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  13. Mrlucky

    Mrlucky Well-Known Member

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    Actually, In bankruptcies, creditors are the highest priority.
     
  14. Kode

    Kode Well-Known Member

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    He alerted them and you're admitting it! So why didn't they take action to deal with the inevitable after being told about it? If Obama had remained in office or if Bernie had won, they would be helped in their adjustment.
     
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  15. Thedimon

    Thedimon Well-Known Member

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    Your employees are your creditors. ;)
     
  16. Mrlucky

    Mrlucky Well-Known Member

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    Ho Hum, 20/20 hind sight. Bernie has been a do nothing senator even longer than Obama has been in politics and did NOTHING. Obama did nothing. You can't change the facts.
     
  17. Mrlucky

    Mrlucky Well-Known Member

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    Unfortunately, that's not the way it works. Sometimes an employer who goes bankrupt will try to pay employees one way or another but the pecking order of who gets paid first always begins with the largest creditors whom debt is owed to.
     
    Last edited: Jul 9, 2019
  18. ronv

    ronv Well-Known Member

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    It wasn't a very meaty proposal, but aunt Hillary did have a proposal:

    Hillary Clinton suggests those jobs are not coming back. "The way things are going now, we will continue to lose jobs," she said Monday. Rather than reversing Obama's climate agenda, as Republicans have promised to do, Clinton wants to help coal country adapt. The $30 billion plan she released last fall calls for increased job training, small-business development, and infrastructure investment, especially in Appalachia. The plan also seeks to safeguard miners' healthcare and pensions. "I have been talking about helping coal country for a very long time," Clinton said this week.
     
  19. Mrlucky

    Mrlucky Well-Known Member

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    Got News for ya Ron, Hillary isn't coming back either. :-o She was as complicit as berry during her tenure as a US senator and secretary of state. Talk is cheap.
    As much as I'd like to see the Appalachian people get helped before we give billions to foreign countries, the miners in KY, WV and even IL really didn't want to be retrained. They wanted to mine coal. When they worked they made good money. They probably should have known better but most didn't.
     
  20. Kode

    Kode Well-Known Member

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    Obama did nothing? Then what is this "ACA" that you're fighting against?
     
  21. Kode

    Kode Well-Known Member

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    It's all defined and prescribed by law and employees are last in line. Look into it and stop spreading falsehoods.
     
  22. FreshAir

    FreshAir Well-Known Member Past Donor

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    they still deliver those here every year, maybe twice a year, sometimes I never even remove the plastic before I get the next one and toss the old one

    not even sure why they still send them, I have google voip and cell phones, no local service
     
  23. Kode

    Kode Well-Known Member

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    Lots of advertising in it. It's all about business.
     
  24. Par10

    Par10 Active Member

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    Let the coal industry die if that's what the market demands. I see no reason to prop up an industry that is not profitable. Same goes for solar. I'm not too happy about having to pay my neighbor's electricity bill. Corn based ethanol is another industry that needs to die. We shouldn't be using food as an inefficient source of fuel.
     
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  25. Mrlucky

    Mrlucky Well-Known Member

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    ACA, the worst law ever enacted. Yep, it's still a mess but eventually we will get rid of the worst law ever enacted. Obama's cough, cough legacy. What a disaster.
     

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