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Former Massey Energy CEO indicted over 2010 mine explosion
Posted on 11/13/14 at 11:51 pm
Posted on 11/13/14 at 11:51 pm
LINK
quote:
CHARLESTON, W.Va., Nov. 13 (UPI) -- The former head of Massey Energy, Don Blankenship, was indicted Thursday on federal charges for a West Virginia mine blast that killed 29 people in 2010.
Blankenship, the former CEO who oversaw the Upper Big Branch South mine in Montcoal, W.Va., was indicted by a federal grand jury for conspiracy to violate mandatory federal mine safety and health standards, conspiracy to impede federal mine safety officials, making false statements to the Securities and Exchange Commission, and securities fraud.
Throughout Jan. 1 2008, to April 9, 2010, "Blankenship himself closely managed [the Upper Big Branch South mine], the coal from which was critical to Massey's financial performance," the indictment read.
"Blankenship knew that [the mine] was committing hundreds of safety-law violations every year and that he had the ability to prevent most of the violations that [the mine] was committing," the document continued. "Yet he fostered and participated in an understanding that perpetuated [the mine's] practice of routine safety violations, in order to produce more coal, avoid the costs of following safety laws and make more money."
Methane gas and coal dust exploded in the mine on April 5, 2010, killing 29 people in what is considered the worst mining disaster in the United States in more than 40 years.
Blankenship was replaced as CEO of Massey Energy by the end of 2010.
Posted on 11/14/14 at 3:35 am to Jim Rockford
quote:Not the most difficult thing to do.
impede federal mine safety officials
Posted on 11/14/14 at 5:09 am to Jim Rockford
Interesting. Hope they clearly define his negligence. Working in hazardous operations is always a tough balance.
Posted on 11/14/14 at 6:51 am to Jim Rockford
If he cut corners on basic safety, he's the moral equivalent of a drunk driver and should be treated accordingly.
Posted on 11/14/14 at 6:52 am to Coeur du Tigre
quote:
Not the most difficult thing to do
I think in the former CEO's case it will prove the most difficult thing to do by the end of the day.
Posted on 11/14/14 at 7:58 am to SpidermanTUba
I skimmed the indictment but it wasn't clear to me if the violations were at his directions. He was getting safety updates daily so he knew about the violations. And the fines totaled close to $1mm so even if he was driven by profit that should have been incentive enough as it seems like they were putting in place safety systems but some weren't functioning appropriately. We're the violations mostly self reporting or purely from govt inspection. If the 500+ were all from govt inspection purely then that's a huge red flag. Why didn't the govt shut them down?
Posted on 11/14/14 at 8:21 am to C
sure he can buy his way out of it
Posted on 11/14/14 at 9:10 am to JEAUXBLEAUX
quote:
sure he can buy his way out of it
Nah, these guys only make $1 - $2M a year, it's not like they are making $60....that said with the past 4 presidents' track record (regardless of party) he's more likely to get an administration appointment than a conviction.
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