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Australia’s Great Barrier Reef is under threat after massive flooding has poured debris, sediment and pesticides into the ocean. Researcher Michelle Devlin said, “This is a really massive event. It has the potential to shift the food web, it has the potential to shift how the reef operates.” The floods have cut off access to 22 towns and forced Australia to close 75 percent of its coal mines.

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—	Democracy Now! \| Headlines for January 05, 2011

Massey Stock Upgraded to “Buy” as Mine Disaster “Immaterial” to Profit | Work in Progress »

Keep the coal in the hole.

By: Michael Whitney Monday April 12, 2010 11:16 am

After 29 miners employed by Massey Energy CEO Don Blankenship died in an explosion of a West Virginia mine last week, there has been increasing scrutiny of Massey’s prioritization of profits over safety. Last year, Blankenship proclaimed it was “very difficult” to obey “nonsensical” safety rules. In 2001, Blankenship said he “doesn’t pay much attention to the violation count,” and a few years later, issued a memo to employees telling the ignore any order – including safety – except to “run coal” because “coal pays the bills.” He even said mine safety regulations were “as silly as global warming.”

So this morning’s news from the S&P stock exchange should be music to Don Blankenship’s ears. Massey’s stock has been upgraded to a “buy” because the accident should be “immaterial” to Massey’s finances.