Testimony: Alabama’s Warrior Met Coal And Wall Street Greed
This month marks one year since 1,100 members of the United Mine Workers of America went on strike at Warrior Met Coal in Alabama following the failure of the union and company to agree on a labor contract. The strike continues today.
Warrior Met was created to buy the assets of Walter Energy after that company declared bankruptcy in 2015. A number of hedge funds own shares in Warrior Met, with New York-based BlackRock — the world's largest asset manager — controlling the most, at about 13% at the end of 2021.
Earlier this year, Senate Budget Committee Chair Bernie Sanders (I-Vermont) held a hearing on Wall Street greed and growing oligarchy in the United States that used Warrior Met as a case study.