Wednesday, July 27, 2016

Alpha emerges from bankruptcy as twins, and the unemployment rate goes up.

In mixed local economic news, Alpha has emerged from bankruptcy, but not as one company.  It's now two, and the local expression of it is the new company, Contura.  Apparently the Wyoming assets are regarded as more viable than the Appalachian ones, so it's questionable if both companies will survive, but at least the bankruptcy is over and the company has reemerged as a Wyoming mining company that is still in business.

Countering that, a bit, the state announced that 7,600 jobs were lost in the state last year, which for a state with a population the size of Wyoming's is quite significant.  No turn around is expected yet, so the losses can probably be anticipated to continue.

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