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.