Blankenship: Massey has ‘totally clear conscience’ after the worst U.S. coal-mining disaster in 40 years

October 27, 2010 by Ken Ward Jr.

Massey Energy CEO Don Blankenship and other Massey executives updated industry analysts today on the company’s financial picture in the wake of yesterday’s announcement that Massey lost $41.4 million in the third quater of 2010.

Among other things, analysts asked a lot of questions about Massey’s assertion that “increasingly stringent enforcement” by the U.S. Mine Safety and Health Administration “resulted in lost shifts and significant loss of productivity.” Some analysts asked Blankenship if his company was being targeted for special attention by MSHA and, if so, what Massey was doing about it.

Blankenship responded that increase focus on Massey was to be expected following the deaths of 29 miners at the company’s Upper Big Branch Mine in that terrible explosion back on April 5. But Blankenship also had this to say:

We have a totally clear conscience in that we know what we have done relative to safety … We don’t believe we contributed in any way to the accident.

Once they’ve prepared the audio files for on-demand listening, you can hear the whole call with industry analysts for yourself on Massey’s Web site.

3 Responses to “Blankenship: Massey has ‘totally clear conscience’ after the worst U.S. coal-mining disaster in 40 years”

  1. Monty says:

    It is interesting that Blankenship is still saying “we” this and “we” that in reference to the Upper Big Branch tragedy, another indication that he is unwilling to assume any personal responsiblity as head of the corporation for any part of the events. One cannot help but wonder, though, if the board’s recent changes, however small, in Don’s compensation package signal that perhaps “they” as a board are starting to take some steps to put some distance between “they” as the board and “he” as Blankenship the individual, should a sale of Massey to another company be in the works behind the scenes.

  2. Thomas Rodd says:

    Can anyone give a better link for the call recording? I could not find it

  3. mlevans says:

    Thomas: Go to this link and click on Oct 27, 2010 http://phx.corporate-ir.net/phoenix.zhtml?c=102864&p=irol-presentations
    It is just unbelievable to me that Blankenship would make such a provocative statement when the investigation is still open. Prayers to the families of the miners who were killed at Massey UBB.

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