Mapping The Players In The Peabody Energy Bankruptcy by Molly Gott, LittleSis News
Peabody Energy – the world’s largest private sector coal corporation – filed for bankruptcy in April, the latest in a series of major coal company collapses. As Peabody’s bankruptcy hearings unfold, there is growing concern amongst environmental, labor, and indigenous justice groups that the company will use the bankruptcy process to pay back their big bank and hedge fund creditors and give bonuses to their white collar employees, but shirk financial responsibilities for environmental cleanups and pension and healthcare obligations to retired coal miners.
There are numerous stakeholders with competing interests involved in the Peabody bankruptcy, so some St. Louis activists used LittleSis to create a map detailing the players involved and their power networks.
In a rare interview with Harvard Business School that was published online earlier this month, (it has since been taken down) value investor Seth Klarman spoke at length about his investment process, philosophy and the changes value investors have had to overcome during the past decade. Klarman’s hedge fund, the Boston-based Baupost has one of Read More
Click through the map below to learn more about the banks, hedge funds, and law firms that are working to ensure they get paid at the expense of workers, the environment, and communities who have been at the forefront of Peabody’s extractive economy: