(Photo: Jeffery Scism)MARY ANNE HITT OF ECOWATCH FOR BUZZFLASH AT TRUTHOUT
Article reprinted with permission from EcoWatch
This week, a giant that had been teetering for many months finally fell, as Peabody Coal officially declared bankruptcy. For market watchers around the globe, this was a decisive movement in the long decline of an industry that once seemed invinciblethe New York Times called it Wall Streets retreat from King Coal. For those of us who live and work in Appalachia, this is the IMAX version of a movie weve seen many times before, one where coal company executives take the money and run, attempting to leave communities and taxpayers holding the bag for ruined communities, workers, mountains and rivers.
This time,…
Read the full article at: http://truth-out.org/buzzflash/commentary/peabody-s-bankruptcy-a-giant-falls-but-its-obligations-remain
