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February 23, 2023 08:05 AM UTC

Thursday Open Thread

  • 25 Comments
  • by: Colorado Pols

“Life is cold. People stay warm through the intimacy of a story.”

–James Altucher

Comments

25 thoughts on “Thursday Open Thread

  1. Coal is dead.

    Australian Coal Miner Allegiance’s U.S. Subsidiaries File for Bankruptcy
    The chapter 11 filing covers mines located in Colorado and Alabama

    U.S. subsidiaries of Australian coal mining company Allegiance Coal Ltd. filed for chapter 11 protection Tuesday.

    The chapter 11 filing includes the New Elk and Black Warrior coal mines located in Colorado and Alabama, respectively

    1. Bankruptcy often permits corporations to avoid funding pensions for workers and to stop paying for cleanup operations. Privatize the profits; socialize the expenses.

    2. as a variety of people have quipped, an announcement of their death has been exaggerated.  An announcement of Coal's "death" — even this particular firm's death — seems premature.

      A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money. A plan of reorganization is proposed, creditors whose rights are affected may vote on the plan, and the plan may be confirmed by the court if it gets the required votes and satisfies certain legal requirements.

    1. That is sad, indeed.  Someone who could bring the snark, the thought, the challenge, and the warmth.  Didn't always agree with him, but always read what he wrote.  He will be missed.  Condolences and peace to his family and friends. 

  2. Very sorry to hear this news.  I was concerned that we hadn’t heard from V in a while.  He was super smart and elevated the discussions here.  His scholarly takes and newsman’s credentials will be greatly missed.  

  3. I've been away from this site due to other demands on my time, and didn't realize V was ill.  He taught me a lot over the last 15 years of posting here.

    RIP Bob.

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