Coal power company files for bankruptcy and asks Trump for bailout

[Yo_Mama_Been_Loggin]

Once again, coal country is begging the Trump administration for help.

The coal and nuclear divisions of Ohio power company FirstEnergy filed for Chapter 11 restructuring over the weekend, mere days after the company sent a letter to the Energy Department requesting emergency relief. They're seeking a bailout through a rarely-used section of federal law normally reserved for natural disasters or times of war.

A spokeswoman from the Energy Department said the FirstEnergy request is "now under review."

FirstEnergy Solutions and FirstEnergy Nuclear Operating Company have been teetering on the brink of bankruptcy for months. They said they plan to use about $550 million in cash to continue operating and pay their 3,000 employees.

The divisions own and operate two coal-fired power plants, one dual natural gas/coal plant, one petroleum-coke plant and three nuclear power plants. FirstEnergy is a major customer of Murray Energy, the mining giant run by outspoken coal CEO Robert Murray.

https://www.msn.com/en-us/news/us/coal-power-company-files-for-bankruptcy-and-asks-trump-for-bailout/ar-AAvnKm8?li=BBnb7Kz

[tonyt53]

1. FirstEnergy has been poorly managed for several years.

[ProudLib72]

2. I've got second chair, and my violin is smaller

[doc03]

3. I wonder what the Teabaggers will call it "Government Energy". I doubt it

I think they will find their way to bail it out.

[Fullduplexxx]

4. YOU JUST GOT A YUUUUUUGE TAX CUT COURTESY OF JINA