Tag: Jim Justice

Will Billionaire Jim Justice Run for W.Va. Governor?

Billionaire businessman Jim Justice is slated to announce his intentions in the 2016 West Virginia governor's race. Justice's announcement will come…

Billionaire businessman Jim Justice is slated to announce his intentions in the 2016 West Virginia governor’s race.

    

Justice’s announcement will come Monday afternoon at the White Sulphur Springs Civic Center.

Larry Puccio, Justice’s lobbyist, confirmed the event Friday.

A coal executive and owner of The Greenbrier resort, Justice has expressed interest in running as a Democrat.

Forbes.com has listed his worth at $1.6 billion.

Justice would be the second Democrat to make an official move toward running. State Senate Minority Leader Jeff Kessler opened a pre-candidacy campaign account to raise funds for the race.

For Republicans, state Senate President Bill Cole, Attorney General Patrick Morrisey and Congressman David McKinley are the main possible contenders.

Democratic Gov. Earl Ray Tomblin is hitting his limit of two consecutive terms and can’t run.

Greenbrier Owner Jim Justice: Decision on Gubernatorial Run Coming in Two to Three Weeks

Greenbrier resort owner Jim Justice says he expects to make a decision in two to three weeks on whether he'll run for governor in West Virginia in 2016.He…

Greenbrier resort owner Jim Justice says he expects to make a decision in two to three weeks on whether he’ll run for governor in West Virginia in 2016.

He told The Associated Press on Wednesday his interest is based largely on helping West Virginia’s economy.

The 63-year-old Democrat says he’s also been a registered Republican and an independent voter.

Democratic Gov. Earl Ray Tomblin has reached his term limit. Democratic U.S. Sen Joe Manchin said Sunday he would seek another Senate term in 2018 rather than run for governor.

Other possible candidates who haven’t announced they will run for governor include Republican state Senate President Bill Cole, state Attorney General Patrick Morrisey and U.S. Rep. David McKinley, and Democratic Senate Minority Leader Jeff Kessler and U.S. Attorney Booth Goodwin.

Southern Coal to Hire 100 Miners

Southern Coal Corp. says it plans to hire 100 miners at four surface mines in Kentucky, Virginia and West Virginia.

Two mines are in Wise County, Virginia. One is in Letcher County, Kentucky, and the other is in Raleigh County, West Virginia. 
The company says the mines currently employ a total of about 200 workers.
 
The Bristol Herald Courier reports that Southern Coal announced the hiring plans on Wednesday.

Southern Coal is owned by Jim Justice, owner of The Greenbrier in White Sulphur Springs, W.Va..  In a news release the company says it has entered into a multi year agreement with American Electric Power to be able to save jobs and restart the mines.
    

Justice Says Coal Operations Buyback Includes Liabilities

Billionaire Jim Justice says his buyback of coal mining operations in West Virginia includes some big liabilities.

Justice completed the $5 million acquisition of Bluestone Inc. from Russian mining and metals company Mechel OAO last month. He had sold Bluestone’s mining operations to Mechel in 2009 for $436 million in cash and more than $83 million in preferred shares.

Justice tells The Charleston Gazette that he assumed responsibility for the company’s reclamation costs. He says there’s also a pension liability, worth tens of millions of dollars, and taxes Mechel owed to counties where the mines operated.

West Virginia Environmental Protection Secretary Randy Huffman says the mining operations’ reclamation costs could be up to $60 million.

Justice Buys Back Coal Company

Billionaire Jim Justice has reacquired coal mining operations in West Virginia that he sold to Mechel OAO in 2009.

The Russian mining and metals company said Wednesday that it has closed on a deal to sell Mechel Bluestone Inc. to a company owned by the Justice family.

The company says in a news release that the deal includes an immediate $5 million cash payment and coal royalty payments of $3 per ton. Mechel also would receive a portion of any future sale of Mechel Bluestone or its assets.

Mechel CEO Oleg Korzhov says in the release that Mechel Bluestone has lost about $60 million annually on average since 2012.

Justice told media outlets on Tuesday that he plans to reopen the company as Bluestone Resources and create 150 jobs.

Saints Coach Payton on Hand for W.Va. Bill Signing

While visiting the West Virginia Capitol, New Orleans Saints head coach Sean Payton praised his team’s plans to move some of its training camp to The Greenbrier.
 
Payton was on hand Thursday as Gov. Earl Ray Tomblin signed a tourism bill. The Greenbrier’s training camp and a new medical facility would benefit from the law’s tax credits.
 
Greenbrier owner Jim Justice estimated the Saints would train at the White Sulphur Springs resort from July 18 to Aug. 16. Admission will be free.
 
Justice said building new football training grounds will cost $20 million to $25 million.
 
The medical center tax breaks could total up to $25 million over 10 years. The $86 million facility will likely open next year. Justice said he expects to draw top doctors for professional athletes.

     
 

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