Patriot Coal Tells Bankruptcy Court: ‘This Is Survive Or Not Survive’

Patriot Coal Corp. will run out of cash early next year and be forced to sell itself in pieces if a bankruptcy judge doesn’t approve proposals to cut union wages and retiree benefits, the company’s chief executive said during four hours of testimony. The United Mine Workers of America is also putting up witnesses to bolster its argument that such deep cuts aren’t necessary and unfairly punish the company’s 1,600-plus union miners and 13,000 retirees, most of whom never worked for Creve Coeur-based Patriot.

Read more from the St. Louis Post-Dispatch

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