Grumbucher, when he served as CEO of Bon-Ton in the s and s, had a rule about operating the department store chain his ancestors founded nearly a century earlier: Under Max who died in the chain grew slowly, with money raised through its operations, Mader said. Today, Bon-Ton carries hundreds of millions of dollars in debt, a burden that only keeps growing and is now threatening to send the company into bankruptcy.
Westmoreland Coal Company's stock has been in free fall over the last year and several of its primary customers are moving away from coal. Market Summary of Nasdaq Credit Nasdaq stock exchange Over the last year, the value of a single share in the company went down 97 percent.
But the delisting is just the beginning of the story.
That strategy, called mine-mouth, is when a mine directly feeds a power plant. It also means reliance on a few, or one, big customers with long-term contracts. Half of the coal-fired generating units retired soon after the purchase, with the remaining units expected to be shut down by the end of The same thing is happening in Montana and Canada.
Understandably, all of this is having an impact: Westmoreland has around employees in the U. Around people also rely on the mine for a job.
Lincoln County commissioners are currently in talks with Westmoreland about moving forward. The Kemmerer Mine is also facing a potential expansion with support from the Wyoming legislature.
Construction could start by Dan Dockstader, a state representative for Lincoln, Sublette, and Teton counties, pushed for the capital construction funds. He said the project will help retain jobs over Wyoming Public Radio reached out to the company multiple times to no response.DALLAS – Nacogdoches County Hospital District took a nine-notch downgrade from S&P Global Ratings as the East Texas hospital operator prepares to file for bankruptcy.
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