Murray takes shots at bankers, bankruptcy

摘要

With a lot of investment bankers and other financial people getting into WE the coal business and seriously overpaying for coal properties, it's no surprise that some of their companies are having financial problems, said veteran coal operator Robert Murray.In a June 4 speech to the Western Coal Council, Murray said that over the last 30 years, he's taken a hard look at almost every coal property in the country, and most of them weren't worth the money some-body paid for them. "Some of the eastern coal companies currently emerging from bankruptcy or presently in bankruptcy overpaid for their coal reserves and mines, some by a factor of two," he said.