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(Casper Star-Tribune)   The Trump coal revival continues, notches another victory   (trib.com) divider line
    More: Facepalm, Powder River Basin, Pension, Retirement, Peabody Energy, Ageing, quarterly financial report, financial support, financial review  
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4415 clicks; posted to Politics » on 25 Nov 2020 at 10:32 PM (7 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



89 Comments     (+0 »)
 
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2020-11-25 6:38:40 PM  
"Hey guys, I know how we can save $174 million and if anyone gets pissed about it, they will blame it on Biden!"
 
2020-11-25 6:52:11 PM  
How many people work in coal these days?

About as many as work in a large mall?
 
2020-11-25 7:05:01 PM  
Non-represented employees and retirees in Wyoming...

Meaning non-union employees. Without digging into it (heh) I am guessing the unionized employees are in a separate plan. Which probably has its own financial issues.
 
2020-11-25 7:14:53 PM  
Just some more notches in serial-killer Donnie's belt.
 
2020-11-25 7:23:24 PM  
Fark user imageView Full Size


/oblig
 
2020-11-25 7:37:18 PM  
All that profit and not a ton of carbon added to the atmosphere. They really have this clean coal thing figured out!
 
2020-11-25 8:11:52 PM  
nah, he's been a human-killing ass for years. he's going down
 
2020-11-25 9:24:58 PM  

Gubbo: How many people work in coal these days?

About as many as work in a large mall?


I read a few months ago that the total number of coal jobs is equal to three number if employees at Bed Bath & Beyond.
 
2020-11-25 9:59:45 PM  
Never get involved in business or politics with Pol Potbelly. He'll lie to your face and stab you in the back at the same time.
 
2020-11-25 10:26:23 PM  
HAHAHAHAHAHAHAHAHAHAHA
 
2020-11-25 10:35:40 PM  
Don't worry, I'm sure Trump will roll out that great replacement for Obamacare he likes to crow about aaaany day now.
 
2020-11-25 10:36:07 PM  

LordJiro: Don't worry, I'm sure Trump will roll out that great replacement for Obamacare he likes to crow about aaaany day now.


TWO WEEKS
 
2020-11-25 10:36:50 PM  
This is why people wanted to blow up the system. This has been happening all over the US, to pensions as well. And not many at the top care to do anything. The one person I'd say would, would be Warren. But she's not in a position to do it. And people are too stupid. They used their energy to drop a bomb on the system in the shape of Trump.
 
2020-11-25 10:38:06 PM  
holy fark.
never before seen wyoming trifecta in play.
 
2020-11-25 10:38:51 PM  

Gubbo: How many people work in coal these days?

About as many as work in a large mall?


Per wiki:
By the end of 2016, the coal industry employed approximately 50,000 miners.[1] US employment in coal mining peaked in 1923, when there were 863,000 coal miners.

And that was in 2016.
 
2020-11-25 10:41:35 PM  
Nobody understands how hard it is for senior management to do something like this.  It really guts them to back out on these obligations both promised and implied.  It's tears them apart when they encounter one of their former colleagues and hear about the cancer drugs they can no longer afford or the cost of a nursing home for their spouse.  That is how they earn the huge bonus they're going to get this year as part of their justified compensation.
 
2020-11-25 10:42:03 PM  
Thanks, O'Biden.
 
2020-11-25 10:43:04 PM  

Epicedion: LordJiro: Don't worry, I'm sure Trump will roll out that great replacement for Obamacare he likes to crow about aaaany day now.

TWO WEEKS


I half expect, after leaving office, he'll try to claim that he was two weeks away from revealing that great new health plan.
 
2020-11-25 10:43:15 PM  
Just march the Republicans straight into the furnace.
 
2020-11-25 10:43:57 PM  
Guess it wasn't such a great job after all.
 
2020-11-25 10:44:05 PM  

Nonrepeating Rotating Binary: Epicedion: LordJiro: Don't worry, I'm sure Trump will roll out that great replacement for Obamacare he likes to crow about aaaany day now.

TWO WEEKS

I half expect, after leaving office, he'll try to claim that he was two weeks away from revealing that great new health plan.


Two weeks away from exposing Obamagate too. Guess we'll never find out what that was all about.
 
2020-11-25 10:48:11 PM  
It's like this.  Mitch increases his fees and the company has to pass the savings on to retirees.
 
2020-11-25 10:48:20 PM  
Maybe it's the weed, but I don't quite understand the health insurance policy they provided. Was the company covering the costs of a supplemental plan for Medicare recipients?  Or we they covering the expenses for private health insurance for retirees that were eligible for Medicare?
Or was the company covering the remaining 20% for retirees on Medicare?
 
2020-11-25 10:48:32 PM  
Fark user imageView Full Size
 
2020-11-25 10:48:45 PM  
I'm sure this will make them vote republican twice as hard. They're their only hope!
 
2020-11-25 10:50:49 PM  
Cutting the health care and retirement benefits for a bunch of guys with a lot of experience using pickaxes and explosives, huh? Boy, they must be really counting on the brainwashing to stick so those guys don't get any ideas about how hopeless their future looks thanks to the guys lighting their cigars with benjamins.

/who am I kidding? The GOP has defunded education so effectively, those guys probably can't even spell "exploitation", let alone use it in a sentence like "let's blow those farkers to Hell in return for all their exploitationing".
 
2020-11-25 10:51:31 PM  

Vhale: This is why people wanted to blow up the system. This has been happening all over the US, to pensions as well. And not many at the top care to do anything. The one person I'd say would, would be Warren. But she's not in a position to do it. And people are too stupid. They used their energy to drop a bomb on the system in the shape of Trump.


With pensions, a company can't legally eliminate what you've already earned (except in certain multiemployer exceptions).  They can pull the plug on new pension benefits being earned, but not benefits already earned.  However, this isn't true for retiree medical benefits.   Most companies don't want to do this, for fear of being on 60 Minutes back when that meant something.  But as shown here, some companies don't care, and it's legal to dump benefits for existing retirees.  Just crazy, in my opinion.
 
2020-11-25 10:51:34 PM  

Rapmaster2000: Thanks, O'Biden.


I predict this catching on.
 
2020-11-25 10:53:06 PM  

LarryDan43: Guess it wasn't such a great job after all.


Retraining in IT looking pretty good right now.
 
2020-11-25 10:53:32 PM  

grchunt: Cutting the health care and retirement benefits for a bunch of guys with a lot of experience using pickaxes and explosives, huh? Boy, they must be really counting on the brainwashing to stick so those guys don't get any ideas about how hopeless their future looks thanks to the guys lighting their cigars with benjamins.

/who am I kidding? The GOP has defunded education so effectively, those guys probably can't even spell "exploitation", let alone use it in a sentence like "let's blow those farkers to Hell in return for all their exploitationing".


mining coal in wyoming involves hard-soled shoes and a basket.

shiat's just sitting there waiting to be dusted off.
 
2020-11-25 10:55:30 PM  
Now all the Trump voters will demand soshulized medicine.
 
2020-11-25 10:56:42 PM  
Gonna guess in a few weeks time they'll all blame Biden for this.
 
2020-11-25 10:57:42 PM  

Bovine Diarrhea Virus: Maybe it's the weed, but I don't quite understand the health insurance policy they provided. Was the company covering the costs of a supplemental plan for Medicare recipients?  Or we they covering the expenses for private health insurance for retirees that were eligible for Medicare?
Or was the company covering the remaining 20% for retirees on Medicare?


Everyone over 65 is eligible for Medicare.  They offered private health insurance that covered beyond Medicare.

After actually reading the article, this may only impact future retirees, I'm not sure.  The new program still offers private insurance, but only for pre-65 retirees who are not eligible for Medicare.  Once they hit 65, coverage ends and they rely solely on Medicare.  Sadly, this isn't a terrible benefit in today's marketplace; the fact they still offer anything is out of the ordinary.
 
2020-11-25 10:58:38 PM  
The worst part of this is that the companies have been spinning off and re acquiring each other for decades to keep bonuses and directors wealthy.

There is a look back period to put old folks in nursing homes.

Why isn't there a look back period for corporate greed and chicanery?

Republicans. That's why.

/ started when RayGun broke PATCO
// unions crumbled
/// middle class suffered
 
2020-11-25 11:02:40 PM  
Privatize the profits, socialize the losses, eh comrade?

What would corporations like this do without socialized medicine? Sounds like the taxpayers just gave them $175,000,000 per year.

And all those miners voted for Trump and are perfectly OK with it as long as someone else is getting screwed worse than they are.
 
2020-11-25 11:03:08 PM  
Bet the CEO gets a bonus!
 
2020-11-25 11:07:15 PM  

iron de havilland: [Fark user image 633x356]

/oblig


Don't we need a new one with him dead?
 
2020-11-25 11:07:34 PM  

Gubbo: How many people work in coal these days?

About as many as work in a large mall?


Less then are employed by Arby's.
 
2020-11-25 11:11:05 PM  

Tomfoolery Rules Over Logical Living: Bovine Diarrhea Virus: Maybe it's the weed, but I don't quite understand the health insurance policy they provided. Was the company covering the costs of a supplemental plan for Medicare recipients?  Or we they covering the expenses for private health insurance for retirees that were eligible for Medicare?
Or was the company covering the remaining 20% for retirees on Medicare?

Everyone over 65 is eligible for Medicare.  They offered private health insurance that covered beyond Medicare.

After actually reading the article, this may only impact future retirees, I'm not sure.  The new program still offers private insurance, but only for pre-65 retirees who are not eligible for Medicare.  Once they hit 65, coverage ends and they rely solely on Medicare.  Sadly, this isn't a terrible benefit in today's marketplace; the fact they still offer anything is out of the ordinary.


Right. I knew anyone 65 and older was eligible for Medicare. I was just curious what type of insurance was being provided to Medicare-eligible patients. Seems like the cheapest option would be supplemental insurance to cover the 20% that Medicare won't pay, but I don't know if you can get a group policy for supplemental insurance.
Paying for full-coverage health insurance for Medicare-eligible patients seems like an enormous waste of money if a supplemental policy is available.
Covering the 20% directly seems unreasonable.
The article was just vague on the details. I would like to know more, but I doubt any more info is available. Maybe I'm thinking too much about this article.
 
2020-11-25 11:11:56 PM  
Quiet, You!
Youtube NUkibfzeQ7g
 
2020-11-25 11:14:27 PM  

Tomfoolery Rules Over Logical Living: Bovine Diarrhea Virus: Maybe it's the weed, but I don't quite understand the health insurance policy they provided. Was the company covering the costs of a supplemental plan for Medicare recipients?  Or we they covering the expenses for private health insurance for retirees that were eligible for Medicare?
Or was the company covering the remaining 20% for retirees on Medicare?

Everyone over 65 is eligible for Medicare.  They offered private health insurance that covered beyond Medicare.

After actually reading the article, this may only impact future retirees, I'm not sure.  The new program still offers private insurance, but only for pre-65 retirees who are not eligible for Medicare.  Once they hit 65, coverage ends and they rely solely on Medicare.  Sadly, this isn't a terrible benefit in today's marketplace; the fact they still offer anything is out of the ordinary.


This really effects those retirees that are very elderly.  When my company did the same thing, they gave extra money to those retirees over 80.  This was before Bush's drug plan for Medicare.
 
2020-11-25 11:15:23 PM  
angryflower.comView Full Size
 
2020-11-25 11:15:46 PM  
"The reduction was attributable to the elimination of health care benefits upon covered individuals' attainment of Medicare eligibility."

So they got moved off of a for-profit health insurance plan to single payer.
 
2020-11-25 11:16:31 PM  

Tomfoolery Rules Over Logical Living: Bovine Diarrhea Virus: Maybe it's the weed, but I don't quite understand the health insurance policy they provided. Was the company covering the costs of a supplemental plan for Medicare recipients?  Or we they covering the expenses for private health insurance for retirees that were eligible for Medicare?
Or was the company covering the remaining 20% for retirees on Medicare?

Everyone over 65 is eligible for Medicare.  They offered private health insurance that covered beyond Medicare.

After actually reading the article, this may only impact future retirees, I'm not sure.  The new program still offers private insurance, but only for pre-65 retirees who are not eligible for Medicare.  Once they hit 65, coverage ends and they rely solely on Medicare.  Sadly, this isn't a terrible benefit in today's marketplace; the fact they still offer anything is out of the ordinary.


Not that I blame the company for taking advantage of Medicare, but it's pretty certain in my mind that the retirees being kicked off the private insurance will decry "socialism" and "the Demoncrats" for taking away their healthcare, even if they end up on Medicare.

Also, shows that national health care for pre-retirees would be beneficial to businesses in the country because they wouldn't have to deal with the costs or administration of managing all of it.
 
2020-11-25 11:17:36 PM  

Lady J: Rapmaster2000: Thanks, O'Biden.

I predict this catching on.


My wife accidentally calls him O'Biden at times.  I correct her.  She hates tRump and loves Obama so I laugh at her when she does it.
 
2020-11-25 11:19:42 PM  

Vhale: This is why people wanted to blow up the system. This has been happening all over the US, to pensions as well. And not many at the top care to do anything. The one person I'd say would, would be Warren. But she's not in a position to do it. And people are too stupid. They used their energy to drop a bomb on the system in the shape of Trump.


But after four years, Trump did literally nothing for these people, far less than Obama before him, and far less than Hillary was proposing. All Trump did was make their bosses rich while they laid these people off.
 
2020-11-25 11:19:56 PM  

IgG4: All that profit and not a ton of carbon added to the atmosphere. They really have this clean coal thing figured out!


All the carbon will be incrementally reintroduced into the ground  by way of small rectangular 2.5' x 8' holes that are 6' deep.
 
2020-11-25 11:22:47 PM  
Coal is dying. Not because of the libs. Because of the Republicans. They are opening up tons of fraking in the dakotas and shiat. I actually dont really think fraking is as evil as it's made out to be. But a huge side effect of fraking is natural gas production. Its cleaner than coal. It's cheaper than coal. It's got better markets AND better market access than coal.

They want tons of LNG production but they also want the coal industry to thrive. They compete with each other. You cant have both.

Meanwhile the Saudis are dumping oil onto the global market and driving profits for western energy WAY down and eating market share like nobody's buisness. Because they can make it easy and cheap and have lots of it.

I guess my point is that coal isnt being murdered by the leftists. Its profit driven industry that has killed the beast. The invisible hand flips the irony bird once again.
 
2020-11-25 11:23:11 PM  

Tomfoolery Rules Over Logical Living: Vhale: This is why people wanted to blow up the system. This has been happening all over the US, to pensions as well. And not many at the top care to do anything. The one person I'd say would, would be Warren. But she's not in a position to do it. And people are too stupid. They used their energy to drop a bomb on the system in the shape of Trump.

With pensions, a company can't legally eliminate what you've already earned (except in certain multiemployer exceptions).  They can pull the plug on new pension benefits being earned, but not benefits already earned.  However, this isn't true for retiree medical benefits.   Most companies don't want to do this, for fear of being on 60 Minutes back when that meant something.  But as shown here, some companies don't care, and it's legal to dump benefits for existing retirees.  Just crazy, in my opinion.


Because of the Bildisco decistion. Yet another beautiful 5-4 partisan decision which owes its existence to Burger and Rehnquist, and therefore Nixon, which was probably the single most damaging anti-union decision in history: union employees were no longer guaranteed their retirement benefits no matter what happened to the company. Prior to that, union dues were respected as a combination of insurance premium, fraternity membership, and retirement investment. Bildisco killed confidence in those dues paying out, and unions have never recovered.
 
2020-11-25 11:24:23 PM  
It's a good job they said. If you get cancer, which you won't, the company will pay for health stuff they said. We worked long and hard and gave them our souls, they said. And then they died of cancer. Fortunately, I was an accountant, above ground and away from the asbestos.
 
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