keyboard_arrow_up

Peabody Missing Tax Payments in Colorado; School District Suffering

Peabody Energy's stock performance has landed it as #1 on Fortune 500's "worst stocks" list for two years in a row . The company's stock has dropped 97.5% over the last year, and was delisted from the New York Stock Exchange in April after Peabody filed for bankruptcy. The Twentymile Mine in Oak Creek, Colorado is still operational after the bankruptcy filing, despite Peabody not being able to sell the mine as anticipated. However, Peabody missed a property tax payment to Routt County, Colorado, last Wednesday that has now directly impacted the local school district. Taxes from Peabody account for around 40% of the school district's annual revenue. The loss to local schools in the Oak Creek mining community is roughly a million dollars, which means the district only has about a month in their budget to cover operations. They are now looking for emergency funding. The last of six public hearings with the U.S. Interior Department will be in Grand Junction, Colorado on Thursday. Multiple coal advocates are expected to attend. Story h/t Steamboat Today #county17 #news