What employees of Peabody Energy Corporation (NYSE:BTU) think?

Posted by Lynn Eisler September 25, 2013 0 Comment 1959 views

On Tuesday, thousands of union mine-workers gathered in downtown St Louis to protest against Peabody Energy Corporation (NYSE:BTU). Apart from the union members there were some other attendees as well. There was a bus load of over 50 UMWA retirees who were attending the rally along with their spouses. These retirees were from the Sullivan and Greene counties. The march that started at the Peabody Plaza eventually ended at the Kiener Plaza. Some of the downtown streets had to be totally shutdown by the police. The protesters repeatedly chanted “Peabody Promised, Peabody Lied”.

No giving up

This rally was to ensure that the health insurance benefits backed by the company be preserved. The union was of the opinion that if Peabody Energy Corporation (NYSE:BTU) has its way, they will be cheated out of the healthcare insurance. Many of the people who attended the rally had been working with the company since they time they were 30 years of age. Some had also retired under the binding contract of 1974 and said that they will not be giving up this issue so easily.

Tuesday’s trading

In Tuesday’s trading session, Peabody Energy Corporation (NYSE:BTU) stock dropped 1.26%. The shares opened at a price of $18.18 which rose to an intraday high of $18.34 and dipped to a close of $17.99. Approximately 6.83 million shares were traded on Tuesday and an average volume of 6.00 million shares were traded over 30 days. The 52-week low of the shares is $14.34 and the 52-week high is $29.84. The company has a market cap of $4.85 billion.

The company

Peabody Energy Corporation (NYSE:BTU) is a coal company that operates in the private sector. It owns interests in 28 different active coal mining-operations situated in the U.S and Australia. Peabody Energy Corporation (NYSE:BTU) has a majority stake in twenty-seven of those coal operations and 50 percent equity interests in Australia’s Middlemount Mine.

About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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