mondrian’s neon fantod

Wilbur Ross, billionaire investor and owner of the International Coal Group, the company that owns and operates the now infamous Sago Mine in West Virginia…

Since October, the U.S. Mine Safety and Health Administration issued 50 citations to the Sago mine, in central West Virginia, including citations for accumulation of combustible materials such as coal dust and loose coal.

In 2005, the Sago mine lost a total of 17.04 days of production as a result of nonfatal accidents. The national average for that type of mine is 6.54. In 2004 the mine lost 15.90 days, compared with a national average of 5.66.

So there you go. Keep that in mind as you hear denials of responsibility and excuses from executives and industry apologists.

Oh, and as for the shrub who’s busy throwing platitudes and assuring the public that there will be an investigation… you should probably know that:

The coal mining industry gave $115,000 to Bush during the 2000 election (compared to $16,000 for Al Gore), and $3.4 million to Republicans in general. In addition, “Buck” Harless, head of the West Virginia mining company International Industries, joined the Bush Pioneers, a group of bigwigs who raised more than $100,000 for the Bush campaign. Harless inked his own check of $100,000 to the Bush-Cheney Inaugural Fund in January. (link)

But wait there’s more. According to a report from Public Citizen (summary, entire report):

As a whole, the mining industry has contributed at least $3.1 million to Bush campaign efforts in the 2000 and 2004 cycles.

So you might not hold your breath for that inquiry.

And while it’s certainly good PR noble that ICG is creating a fund for the families of the miners, it seems a little odd that a company whose Q3 results include the following:

– Revenue was $158.4 million for the three months ended September 30,
2005, up 30% from $121.6 million in the third quarter of 2004;

— Operating income was $14.7 million for the three months ended
September 30, 2005, up 237% from $4.4 million in the third quarter of
2004;

— Net income was $8.6 million for the three months ended September 30,
2005, or $0.08 per share, versus a loss of $37.2 million, in the third
quarter of 2004;

— Earnings before net interest, income taxes and depreciation, depletion
and amortization, or EBITDA, was $27.1 million for the three months
ended September 30, 2005, up 102% from $13.4 million in the third
quarter of 2004; and.

— For the nine months ended September 30, 2005, revenue was $465.7
million, up 25% from $373.4 million; operating income was $51.1
million, up 193% from $17.4 million; net income was $28.6 million, or
$0.27 per share, versus a loss of $107.7 million and EBITDA was $83.4
million, up 47% from $56.6 million, in each case, from the comparable
period last year.

and that’s owned by a billionaire (#346 on Forbes 400 list) would need to be begging for the public to contribute to the fund as well. I’d like to think that a company that makes that kind of profit off the backs of its workers (who are engaged in dirty, dangerous work) would possibly do a little more to maintain their safety. Who am I kidding? It really is like 1906 all over again, isn’t it?