Massey faces shareholder anger over mine disaster-Some investor groups are calling for resignation

[kpete]

Source: Reuters

Massey faces shareholder anger over mine disaster
Steve James
NEW YORK
Tue Apr 13, 2010 9:39am EDT

NEW YORK (Reuters) - Some investor groups are calling for the head of Massey Energy (MEE.N) to resign, blaming his attitude toward safety for the mine blast that killed 29 at a company mine in West Virginia.

The move came as the last four bodies were removed from the Upper Big Branch mine early on Tuesday, allowing for federal and state inspectors to begin their investigation into the April 5 explosion.

Meanwhile UBS raised its share price target for Massey Energy (MEE.N) to $67 from $64. The company's shares were up 3 cents at $46.06 in early trading on the New York Stock Exchange.

CtW Investment Group, which owns less than 1 percent of Massey's stock, said it had sent a letter to Massey's board of directors calling on them to immediately seek the resignation of Don Blankenship as chairman and CEO.

Read more: http://www.reuters.com/article/idUSTRE63C2Q920100413

[CaliforniaPeggy]

1. He shouldn't resign...they should kick his ass out!

I think he was criminally negligent.

ICK.

[HillbillyBob]

2. I think he and all his enablers should go to jail

The bushco operative in MSHA that was hired fresh from Massey.
I forget his name, but 'just knew' when i heard he was hired to over see safety that it would end badly. I grew up in WV hearing horror stories about Massey/Blankenshit and their efforts to deunionize the mines.

[Lugnut]

3. Resignation isn't good enough.

Don Blankenship should be charged with 29 counts of murder.

[ladywnch]

4. Massey should revoke his comp package and use the monies to

pay the wrongful death claims that will surely be filed. Since all he cares about is the almighty dollar that is what it should cost him.


PS oh,and seize all his other assets too.

[uncle ray]

6. "he" is Don Blankenship.

there is no guy named Massey, though the media seems to want to lead us to believe that there is. just trying to keep the assholes name out there.

[ShockediSay]

5. A report I heard, indicated that corp execs do not face criminal

prosecution, but that middle management does.

Time to change the law?