April 7, 2010
Richmond, Va.-based Massey Energy Co. is the largest coal producer in central Appalachia, operating 47 underground and surface mines in Kentucky, West Virginia and Virginia. It was founded in 1920 as a coal brokering business and began mining operations in 1945. In 2009, Massey reported coal revenue of $2.3 billion and recorded net income of $104.4 million. Massey reported employment of 5,851 at the end of 2009. The company has repeatedly fended off organizing drives by the United Mine Workers of America and the union currently represents 76 Massey employees, union spokesman Phil Smith said.
June 9, 2000 |
In a bold move, Fluor Corp. said it will separate its worldwide engineering and construction business from its Virginia coal-mining operations, a decision that boosted the company's lackluster stock price 10% Thursday. The Aliso Viejo company said the change would allow each operation to succeed by focusing better on independent growth strategies and allowing shareholders a clear choice of investing in both firms or in one industry. The company said it will create a new Fluor Corp.
April 6, 2010 |
Brenda Willis rushed out of the One Stop food shop Tuesday wearing a "Route 3 Spousal Group" T-shirt and carrying an armful of sandwiches and cold drinks. "For the families of the lost ones," Willis said as she loaded the food into an SUV for delivery to families gathered at the Upper Big Branch mine office to learn the fates of the missing miners caught in Monday's explosion. Like virtually everyone in the string of unincorporated villages that dot Route 3 along the muddy Big Coal River, Willis knew several victims of the worst U.S. coal mine disaster since 1984.
December 13, 2000 |
Standard & Poor's said Tuesday that the new Fluor Corp. in Aliso Viejo will replace Massey Energy Co. on the S&P 500. The new Fluor is a spinoff from the old Fluor, which was renamed Massey. Fluor, which provides engineering, construction and other services, will trade under the ticker FLR. Massey, a Richmond, Va., coal company, will trade under the ticker MEE. After the spinoff next week, Massey Energy will replace American Freightways Corp. in the S&P SmallCap 600. FedEx Corp.
March 6, 2001
Engineering and construction giant Fluor Corp. said Monday it will pay its first quarterly dividend--16 cents a share--since separating itself from the old Fluor company, which became coal mining operation Massey Energy Co. The new Fluor, based in Aliso Viejo, said in a news release that it will pay the dividend March 29 to holders of record on March 15. Fluor's stock gained $5.94 to close at $46.35 a share on the New York Stock Exchange.
December 29, 2000 |
Fluor Corp., a worldwide construction and engineering company, said Thursday that it expects to take a charge of $13 million to $17 million in the last two months of the year for costs related to the split-up of the company. The charge, amounting to 17 cents to 22 cents a share, will be taken for the so-called stub period, the final months of its old reporting period as the Aliso Viejo company changes over to reporting results on a calendar-year basis. Its fiscal year had ended in October.