Patriot Coal to emerge from bankruptcy in coming days
Patriot Coal gains court approval for its reorganization plan ending 17 months of bankruptcy. CEO Bennett Hatfield says the company will emerge Wednesday as a well capitalized supplier to electric utilities and steel industries. The exit includes financing from Barclays and Deutsche Bank plus a Knighthead backstop, and a $310 million Peabody Energy funded retiree health benefit plan over four years plus other contributions. The United Mine Workers of America will cede most of its Patriot stake as part of the settlement.
MENTIONED IN THIS ARTICLE
T. Louis
Patriot Coal
St. Louis
Bennett Hatfield
Patriot Coal Corp
Hatfield
Barclays
Deutsche Bank
Knighthead Capital Management LLC
Patriot
Peabody Energy Corp
Peabody
Employee Benefit Association
United Mine Workers of America
U.S
Kathy Surratt-States
U.S. Court of Appeals
Dial-a-Carol at Illinois UC Champaign brings holiday voices
Dial-a-Carol on the University of Illinois Champaign campus runs 24 hours to midnight Wednesday with 217-332-1882. Student volunteers answer calls from around the world, singing carols from Snyder Hall lobby under nonprofessional auspices. The project started in 1960 and aims to relieve stress during finals while delighting callers with understated, heartfelt performances.
MENTIONED IN THIS ARTICLE
Chicago
University of Illinois
Kirsten Ruby
Betty Gordon
Fed may pause bond buying pace amid economy’s progress
Washington AP reports markets eye whether the Federal Reserve will keep its monthly 85 billion dollar bond purchases steady to sustain low long term rates or begin tapering as hiring strengthens and unemployment nears 7 percent. Analysts cite Bernanke’s transition to Janet Yellen, inflation below target, and political shifts shaping a March move.
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Washington
Federal Reserve
Fed
Ben Hernanke
Hernanke
Consid
Ering
House
Senate
Mark Zandi
Moody's Analytics
Bernanke
Associated Press
Janet Yellen
Yellen
Dovish
Diane Swank
Mesirow Financial
White House
Sung Won Sohn
Martin Smith School of Business
California State University
Senate advances budget deal easing cuts for 2014
The Senate voted 67 to 33 to advance a bipartisan budget bill to end austerity in part. It would replace 45 billion dollars of scheduled cuts for 2014, raise agency funding to about 1 trillion and freeze spending into 2015 while shifting some savings to the longer term. The measure drew GOP support despite broad opposition and faces a final vote after House approval last week.
MENTIONED IN THIS ARTICLE
Washington
Pentagon
Senate
White House
Ipd
Poe
GOP
Obama
Patty
John Hoeven
Ron Johnson
R-Wis
Ryan
Roy Blunt
Missouri
Rob Portman
Ohio
Lamar Alexander
Tennessee
John McCain
Jeff Flake
Arizona
Alexander
Blunt
Flake
Hatch
Mitch McConnell
Kentucky
Matt Bevin
McConnell
John Cornyn
Texas
Associated Press
Cornyn
Breitbart.com
Kate Martin
Murray
Also Mentioned on This Page
U of Illinois
Christian Dillon
Renee Nelson
Naperville
Ill
Erin (Markovich
Nelson
Garrick Bradley
South Holland
Phoenix
Kelly Sarna
New Lenox
Evan Lorenz
Aurora
Mery Ghrisime
Virginia Avenue
Bluefield, WV
Mike Romeo Agency
Thorn Street
Princeton
Cumberland Road
Bluefield
Nationwide’ Insurance
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