Tuesday, May 11, 2010

More Calls For CEO Blankenship's Resignation at Massey Energy

It has become a ritual at Massey Energy’s (MEE-$35.77) annual shareholder meeting for interest groups to stage protests and call for the resignation of chairman and chief executive Don Blankenship. Environmentalists and union activists have long alleged that Blankenship habitually fights against needed regulation of strip mining (gutting mountain tops for coal removal) and enforcement of safety rules that protect the miners – a disdain motivated by his desire to maximize the coal operator’s profits, according to his detractors.

An explosion at a West Virginia coal mine last month killed 29 miners and is expected to interrupt metallurgical coal shipments and sales through year-end 2010. Could Blankenship face additional calls to resign – this time from members of the board of directors?

Read More at BNET ENERGY > ….

Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.

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