Armstrong Energy, Miner of Coal in Ohio and Kentucky, Files for Bankruptcy

first_imgArmstrong Energy, Miner of Coal in Ohio and Kentucky, Files for Bankruptcy FacebookTwitterLinkedInEmailPrint分享CNN Money:More evidence of coal’s challenges came on Tuesday as Armstrong Energy, a western Kentucky coal company, filed for bankruptcy protection.Armstrong Energy is the first coal company to succumb to bankruptcy since Trump was elected nearly a year ago, according to the Institute for Energy Economics and Financial Analysis, an environmentally focused research group.As part of the bankruptcy, Armstrong plans to transfer most of its assets to a new business owned by Illinois coal company Knight Hawk.Armstrong produces thermal coal, which has seen its demand drop due to power plants switching to cheap natural gas as well as renewable energy options like solar.Trump has sought to reverse that trend by ripping up environmental regulations and withdrawing the U.S. from the Paris climate accord. The Armstrong bankruptcy comes just a day after Trump cheered rising U.S. coal production on Twitter with the hashtag “#EndingWarOnCoal.”Rather than Trump’s deregulation, analysts say a recent uptick in coal production has been driven by higher exports to Asia and natural gas prices that have stopped plunging.Longer term, those who follow coal remain skeptical about Trump’s ability to fix what are largely market-driven, not regulatory, challenges.“Him saving coal jobs was smoke and mirrors,” said Andrew Cosgrove, senior analyst on global metals & mining at Bloomberg Intelligence. “It was never going to happen because low natural gas prices are the main problem. That will continue to cap any upside for coal.”“It’s not surprising coal continues to struggle because the decline wasn’t driven by environmental regulations that this administration wants to scrap,” said Jason Bordoff, a former Obama energy adviser who is now director of Columbia University’s Center on Global Energy Policy.Armstrong may not be the last coal bankruptcy in the Trump era. In August, Murray Energy CEO Robert Murray pleaded with the White House to issue an emergency order protecting coal-fired power plants from being closed. Failure to do so would spark the bankruptcy of his company, Murray said.“Our time is running out,” Murray, a Trump supporter, wrote.More: First coal bankruptcy of Trump era WSJ:Documents filed to U.S. Bankruptcy Court in St. Louis show that Armstrong Energy’s noteholders will assume 100% of the company’s ownership upon agreeing to forgive $90 million in debt. Knight Hawk Holdings, which will take over the company’s operations, will get an undisclosed portion of equity later.Armstrong Energy mines for coal in western Kentucky and Ohio on land that is estimated to have 445 million tons of proven and probable coal reserves, according to a June 30 report. The 600-worker company also operates three coal-processing plants and a river dock coal handling and railroad loading facility.Founded in 2006, Armstrong Energy sells coal to six utility companies that operate power plants throughout the country’s midwestern and southern regions. Louisville Gas & Electric Company and the Tennessee Valley Authority rank as its two largest customers, according to court papers.Recently, the company saw “reduced demand for coal and lower coal prices, precipitated by slow economic growth, an abundance of extremely low-price natural gas and increased regulatory burdens,” Alan Boyko, chief restructuring officer, said in court papers. “As U.S. natural gas production hit a record high in 2015, the abundance of inexpensive natural gas put severe pressure on the coal industry.”Armstrong Energy joins a long list of coal-mining companies that have turned to bankruptcy, including Peabody Energy Corp. , Alpha Natural Resources Inc., Arch Coal Inc. and Patriot Coal Corp.More ($): Coal Company Armstrong Energy Files for Chapter 11 Bankruptcy Protectionlast_img read more

Council on Reform Submits Recommendations for the Protection of Vulnerable Populations to Gov. Wolf

first_img November 01, 2019 Council on Reform Submits Recommendations for the Protection of Vulnerable Populations to Gov. Wolf SHARE Email Facebook Twittercenter_img Press Release Harrisburg, PA – Today, Governor Tom Wolf’s Council on Reform, established through his Protection of Vulnerable Populations Executive Order 2019-05, submitted its recommendations for improving the state’s systems to protect its most vulnerable individuals and families.In late July, Gov. Wolf charged this diverse group of community leaders, providers, stakeholders, and cabinet members with taking a comprehensive look at needs to best serve the state’s vulnerable populations with a mandate to report those recommendations back to him by Nov. 1.“I took action in July to address long-standing issues with the state’s systems designed to protect our most vulnerable,” Gov. Wolf said. “The first task for the newly formed Council on Reform was to buckle down and develop a comprehensive list of recommendations for how we can best protect vulnerable Pennsylvanians.“My thanks to all of the council members who shared their expertise and considerable time, and to those who participated by meeting with council members or submitting information and recommendations. Your tireless commitment to this process demonstrates your passion for protecting all Pennsylvanians, especially our most vulnerable. I look forward to reading and analyzing these recommendations and to our next steps to make much-needed changes.”The 25-member council held its first meeting immediately following the governor’s announcement. In determining its charter and scope, the council defined populations and subpopulations, established committees, and adopted values.The council determined it would look at protecting vulnerable populations from three perspectives with a separate committee for each: prevention and diversion, protection and intervention, and justice and support.Populations were broken out by age with subpopulations to ensure vulnerabilities unique to each were considered:Ages 0-17Subpopulations – African Americans, Asian American & Pacific Islanders, Latinos, LGBTQ+ children, young women, children experiencing mental illness, children with intellectual disabilities/autism, children with physical/sensory disabilities, delinquent children, and dependent childrenAges 18-59Subpopulations – African Americans, Asian American & Pacific Islanders, Latinos, LGBTQ+ adults, veterans, women, adults experiencing mental illness, adults with intellectual disabilities/autism, adults with physical/sensory disabilities, adults with Alzheimer’s or a related dementia, and domestic violence victimsAges 60+Subpopulations – African Americans, Asian American & Pacific Islanders, Latinos, LGBTQ+ seniors, women, veterans, seniors experiencing mental illness, seniors with intellectual disabilities/autism, seniors with physical/sensory disabilities, seniors with Alzheimer’s or a related dementia, and domestic violence victimsThe council recommended two overarching goals for Pennsylvania to better protect vulnerable populations:• Empower and strengthen the workforce serving vulnerable populations by providing comprehensive training, livable salaries and benefits, and support for staff experiencing vicarious trauma.• Empower communities and vulnerable populations by ensuring access to services for all Pennsylvanians and conducting culturally appropriate and diverse outreach efforts.The council adopted values they believe to be relevant to protecting and serving vulnerable populations – these values are reflected throughout the recommendations:Cultural Competence – Recognizing and honoring diversityPerson-Centered Approach – Focusing on the individual’s best interestCommunity Engagement – Hearing from vulnerable populations, families, experts, and stakeholdersContext & Awareness – Understanding current environment and avoiding past failingsTrauma-Informed – Utilizing trauma-informed approaches across all systemsWorkforce Empowerment – Ensuring the workforce is equipped and supportedMembers heard from a wide array of existing oversight and advisory bodies, stakeholders, legislators, and constituents. Information was provided through in-person meetings, letters, emails, and a webform that council members distributed to their networks. These contributors provide recommendations for the council to consider and essential insight and context to ensure the council was fully informed. Many council members also served on advisory bodies connected to this work.The council compiled the recommendations submitted by others along with recommendations from existing reports and assigned them to the appropriate committee for review and consideration. Committee members reviewed all that was submitted, identified common trends, eliminated duplication, and developed new recommendations.After committees finalized their lists of recommendations, themes were identified that spanned all populations and committees. The result is the comprehensive list of recommendations presented to Gov. Wolf today.The council advised Gov. Wolf that it “fully recognizes the funding implications of the recommendations that have been developed and the substantial amount of time and work it takes to carry out these recommendations. It is our hope that Pennsylvania will rise to the occasion and put its best effort into driving this much needed change – our most vulnerable are counting on it.”The council asked that the governor direct the appropriate agencies, organizations, branches of government, and advisory bodies to carry out the recommendations he would like to move forward.As the council carried out its process, they believed more could be done to engage with constituents. To achieve this, the council added an online public comment form available today through Dec. 16.last_img read more

Young signs new United deal

first_img “The spirit and motivation amongst this team is very high and we are all determined to make this a season to remember. All I have ever wanted to do is play football and to be able to continue to do that at the biggest club in the world means everything to me and my family.” Young has scored 13 goals in 115 appearances since joining United from Aston Villa in 2011, helping them lift the Premier League title in 2013. He played in a number of positions last year, deployed at wing-back when Louis van Gaal used a 3-5-2 formation, and kept his place ahead of the now departed record signing Angel di Maria once a 4-3-3 formation was adopted. Van Gaal said: “We are delighted that Ashley has signed a new contract. Ashley is a very multi-functional player. He took to the wing-back position with great confidence and flourished on the wing throughout last season. Ashley is always very professional and has a great presence in the dressing room. ” Press Association The 30-year-old’s future had been the subject of speculation as his previous deal entered its final season. “I am delighted to have signed a new contract,” Young said. center_img Ashley Young has committed his future to Manchester United by signing a new three-year contract which includes an option for an additional season.last_img read more

MHS, CWSS rule at Inter-School Relay Festival … UG win Tertiary category

first_imgIT WAS no surprise when Linden-based Mackenzie High School (MHS) and Christianburg/Wismar Secondary Schools (CWSS) took the top two spots in the National Schools Relay Championships on Wednesday at the National Track and Field Centre at Leonora on the West Coast of Demerara.However, it was seasoned athletes, Chantoba Bright, Onasha Rogers, Deshanna Skeete, and Daniel Williams who gave MHS the edge over CWSS, as MHS put together 108 points to win the Secondary Schools division.CWSS followed with 83 points while West Demerara Secondary finished third with 78 points.West Demerara clained second place in the female Team category. The Girls’ Under-14 team of Destiny Castello, Shontavia Boyce, Crystal Carryl and Haikada Hilliman, put on a spirited run to win the 4x100m in 55.90 secondsThe Boys’ Under-14 4x100m win went to MHS, with a gapped finish anchored by Marlon Williams.MHS Onasha Rogers before starting the 4x100mMHS had finished with both the Boys’ and Girls’ Team wins. However, while CWSS placed second in the Boys’ side, with 48 points, West Demerara edged them out for the Girls’ Team second place win.In the Girls’ Under-18 4x100m, it was Rogers who gave the team a powerful start to finish with a time of 50.40 seconds. In the 4x200m, the team took another easy win as Skeete anchored and stopped the clock at 1:55.10 seconds.In the sprint medley the team ended the race at 2:00.10s.CWSS, however, picked up a gold in the Boys’ Under-18 4x100m in a time of 45.80 seconds, the MHS team anchored by Daniel Williams finished in a time of 46.20 seconds. CWSS again triumphed over MHS in the Boys’ Under-18 distance medley, clocking a time of 3:38.30s.In individual events Leona James (MHS) won the Girls’ Under-18 800m run in a time of 2:43.10s.Over in the Tertiary category the University of Guyana (UG) overwhelmed their competition to take the top spot in that division. Led by Kezia Bess, the UG female side won the 800m sprint medley (2:00.60s), and the 4x100m (54.10s).MHS Marlon Williams anchors the win in the Boys’ Under-14 4x100m.Others on the team included Merissa Tucker, Fiona Mentis, and Kenisha Prescott.Second place in both races went to the Mahaicony Technical Vocational Training Institute.In the Tertiary men’s distance medley, Rayon Abrams opened for the UG team, while Salim Yussuf finished off the team’s win in a time 3:27.70s.last_img read more