JR
  • JR
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12 years ago
An item on this evenings 'Midlands Today' news. It appears that following the losses resulting from the fire, and eventual closure of Daw Mill, UK Coal are likely to go into Administration this week. The plan seems to be to split the company and try to run working pits as a going concern while the debt ridden part will be taken over by "a quango" (the Coal Authority). The biggest losers appear to be the pension fund and pensioners will lose quite a chunk of their pension.
"http://www.expressandstar.com/business/city-news/2013/06/30/rescue-plan-mooted-for-coal-company/"
sleep is a caffeine deficiency.
Ty Gwyn
12 years ago
543 million deficit,no wonder they split the company last year,they knew exactly what was coming,

They keep giving the Daw Mill fire as the reason for the problem,the Pit was knackered last year,and due to close early next year anyway.
JR
  • JR
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  • Newbie Topic Starter
12 years ago
An update from today's BBC. It seems that pensioners affected will have to take a 25% reduction. Given the current financial climate I foresee considerable hardship.

"http://www.bbc.co.uk/news/business-23127132"
sleep is a caffeine deficiency.
Ty Gwyn
12 years ago
"JR" wrote:

An update from today's BBC. It seems that pensioners affected will have to take a 25% reduction. Given the current financial climate I foresee considerable hardship.

"http://www.bbc.co.uk/news/business-23127132"




While them Maggot Pi-- Takers in parliament are looking at a 15% pay rise.
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