InvestorsHub Logo
Followers 1
Posts 85
Boards Moderated 0
Alias Born 07/21/2008

Re: buckster71 post# 17553

Friday, 07/17/2009 5:33:29 PM

Friday, July 17, 2009 5:33:29 PM

Post# of 22460
RE: Unless you know somebody or work at the mines yourselves you can only speculate what equipment and/or plans they would have in place. I'm not saying they do, but I don't just buy that they don't without evidence of such to back up the claim.






That is true. I am only speculating. I have been underground in probably over 40 mines in the last ten years or so, and NONE of them had equipment installed to the extent as now prescribed by law. And I'm talking about mines from the largest coal companies in the country.

There are around 475+/- underground coal mines in the US, and while many have some of the equipment installed that puts them ahead of the game, only a select few have this new communication and tracking equipment installed. And those are the mines that allowed the design companies to use them for product development.

MSHA has a tendancy to change the rules in the middle of the game, so the coal companies wait until the deadline (June 15 in this case) to comply so that they can fully meet their obligations. Otherwise, they run the risk of spending shareholders moneys unwisely.

So, yes, I'm speculating that they do not have the equipment installed. Yes, MSHA will take their financial position into account, but MSHA will NOT let that position affect the safety of the workers underground.
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.