The man who the back of the coal union doesn't want you to forget it was a tough fight. He keeps a memento behind his desk: A 20-year-old Zenith TV, knobs missing, pierced by a bullet from an angry miner. It was one of 11 fired at him that day. They all missed. "You can't reach decisions based on popularity," says Donald Blankenship, chief executive of Massey Energy. "Most coal companies have, and they haven't been successful." The combative head of the nation's sixth-biggest coal company has benefited greatly by facing down the union. But it's not his only enemy. Environmental regulators, who he says are in cahoots with the union, aren't particularly fond of him either. They say he runs some of the industry's dirtiest mines. Now Wall Street has joined the party. The cocky, independent streak that served him so well has led to bad decisions, such as hiring cheaper but inexperienced workers. The result: eight quarters out of the past nine of missed earnings targets. Last year Massey lost $33 million on revenues of $1.6 billion. The stock has fallen to $10.67 from $28.20 two years ago.
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