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Gold/Mining/Energy : Coal -- Ignore unavailable to you. Want to Upgrade?

To: Sam Citron who wrote (216)	1/6/2006 12:01:36 PM
From: Broken_Clock	Respond to of 2031

I watched the Primetime on ICO's accident last night. It seemed pretty well done except for the interview with Ross. ICO immediately donated $2,000,000 to a fund for the surviving families. ABC called it cheap! When is the last time any company offered cash one day after an accident? Usually takes massive lawsuits and years of litigation. It was fairly obvious that ABC was out to paint Ross an an evil, greedy robber baron who is victimizing his workers. That seems like a real stretch of the truth to me. Ross rolled up coal companies that were in BK and were operating on the thinnest of margins, therefore the massive safety violations.Since Ross took over there has been a concerted effort to improve mine safety. A fact that did come out, but just barely. The real vultures in that story were the ABC scriptwriters. Interesting facts...Ross owns 1/3 of ICO. I think he ill do well for the company, including the workers. There have been over 100,000 mining deaths in the US since mining started keeping records. Mining is inherently very dangerous. 51% of electricity comes from coal in the US. Mining coal pays better than other work in the coal regions so it isn't going away. It may become more expensive if safety issues become more stringent, that's about it.