Afternoon update: Feds ask Blanchard how much is enough profit
October 29, 2015 by Ken Ward Jr.Federal prosecutors this afternoon continued a tough redirect examination of former Performance Coal Company president Chris Blanchard.
Assistant U.S. Attorney Steve Ruby had Blanchard read aloud from a U.S. Securities and Exchange Commission – previously entered into evidence – which showed Massey reported more than $50 million in profits in 2008.
“Was it enough?” Ruby asked.
“Enough what?” Blanchard answered.
“Enough profit,” Ruby said.
“It was profit, sir. I can’t answer that question,” Blanchard said.
Ruby had Blanchard read from another SEC filing that showed Massey reported more than $100 million in profits in 2009. Again, Ruby asked Blanchard, “Was that enough profit?”
“Again, sir, I can’t answer that question,” Blanchard said.
Ruby asked Blanchard if Massey’s level of profits provided any reason to commit preventable violations of safety laws.
Blanchard responded, “No, sir.”