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Showing 2 articles from May 12, 2009.

FrontPage News

NewPage, Part of Conglomerate Faces 21st Century Realities
Cerberus Capital was named for the three headed dog that stood guard at the gates of Hades- not a happy choice for NewPage workers.
NewPage, Part of Conglomerate Faces 21st Century Realities
 At any given hour, log trucks are moving quickly through the small town of Clinton, Kentucky on their way to the New Page pulp plant at Wickliffe, Kentucky. For the people of many small towns in West Kentucky and Tennessee, the economic realities of log trucks are how many logs per truck load can be safety transported to New Page....
The recent worker layoff and work slowdown at paper mill NewPage in Wickliffe had us wondering who owns the company now. It has changed hands and names several times in the last several years. A company spokesperson at NewPage confirmed the present owner is Cerberus Capital Management, L. P. since 2005. 
 
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Business

The hint of a family resemblance - tobacco and coal
Coal is under increasing pressure similar to those that came to bear on tobacco.
The hint of a family resemblance - tobacco and coal
Editor's Note: This article written three years ago looks like fortune telling as we swelter through the summer of Ought Twelve. (Article links may no longer work.)

(May 12, 2009) -  ....Coal executives should by now be feeling the same cold chill up their spines that tobacco executives felt when Mississippi filed a lawsuit against their industry in 1994. The tobacco industry had years to fight back against the scaredy cats who said they were killing people.

The coal industry may not have that long. The Internet and a younger generation that is growing up revering Earth Day may bring the industry to a difficult place faster than it ever planned. Children are drawing pictures of wind turbines and sunshine when the word “energy” is brought up. That bodes ill for the coal industry...

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