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Last $6.29 MXN
Change Today +0.09 / 1.45%
Volume 50.0K
As of 4:09 PM 06/29/15 All times are local (Market data is delayed by at least 15 minutes).

arch coal inc (ACI*) Snapshot

Open
$6.40
Previous Close
$6.20
Day High
$6.46
Day Low
$6.29
52 Week High
07/1/14 - $48.00
52 Week Low
06/24/15 - $6.20
Market Cap
1.3B
Average Volume 10 Days
10.1K
EPS TTM
--
Shares Outstanding
212.7M
EX-Date
02/3/15
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for ARCH COAL INC (ACI*)

arch coal inc (ACI*) Related Businessweek News

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arch coal inc (ACI*) Details

Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled approximately 5.1 billion tons of proven and probable recoverable reserves. As of December 31, 2014, the company also owned or controlled, primarily through long-term leases, approximately 30,430 acres of coal land in Ohio, 21,832 acres of coal land in Maryland, 46,556 acres of coal land in Virginia, 407,453 acres of coal land in West Virginia, 107,665 acres of coal land in Wyoming, 266,654 acres of coal land in Illinois, 128,458 acres of coal land in Kentucky, 19,427 acres of coal land in Montana, 21,802 acres of coal land in New Mexico, 427 acres of coal land in Pennsylvania, and 18,443 acres of coal land in Colorado. In addition, it owns properties in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas. The company sells coal to power plants, steel mills, and industrial facilities. Arch Coal, Inc. was founded in 1969 and is headquartered in St. Louis, Missouri.

5,000 Employees
Last Reported Date: 02/27/15
Founded in 1969

arch coal inc (ACI*) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $975.0K
President, Chief Operating Officer, Director,...
Total Annual Compensation: $675.0K
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $525.0K
Senior Vice President of Operations
Total Annual Compensation: $450.0K
Senior Vice President of Law, General Counsel...
Total Annual Compensation: $425.0K
Compensation as of Fiscal Year 2014.

arch coal inc (ACI*) Key Developments

Employee Sues over Retirement Plan Losses as Arch Coal Stumbles

A former Arch Coal employee is suing the trustees of the company's retirement plan, alleging they invested retirement savings in Arch stock though they should have known it was a risky investment. Douglas Roe's suit, which was filed on June 9, 2015 in U.S. District Court and seeks class-action status, says Arch Coal employees's mismanagement of the Arch Coal Inc. Employee Thrift Plan violates the federal Employee Retirement Income Security Act of 1974. The suit comes as Arch, like other coal companies, is dealing with the effects of a depressed coal market; it reported a first-quarter loss of $113.2 million on revenue of $677 million and was recently warned by the New York Stock Exchange that it is out of compliance with the market's rule requiring an average price of $1 per share of common stock for 30 consecutive trading days. Defendants in the suit are Arch Coal; the finance committee of its board of directors; the internal retirement committee of Arch Coal; Chairman and CEO John Eaves; President and COO Paul Lang; Senior Vice President and CFO James Sabala; former Chairman Steven Leer; Vice President of Human Resources Allen Kelley; Chief Commercial Officer John Ziegler Jr.; and board members Theodore Sands, J. Thomas Jones, George Morris, Robert Potter, Brian Jennings, A. Michael Perry and Peter Wold; Mercer Fiduciary Trust Co.; and 10 unnamed individuals. The lawsuit, filed by Christopher Bauman of Blitz, Bardgett & Deutsch LC, says the defendants should have known it was imprudent to invest the retirement plan's assets in Arch stock 'because of the sea-change in the coal industry and because the business prospects of Arch were dismal'. The suit says the defendants should have directed that contributions to Arch's stock fund be held in cash rather than used to purchase Arch stock; closed the fund and diverted investments to prudent investment options; and sought guidance from the U.S. Department of Labor and U.S. Securities and Exchange Commission. The suit alleges that the defendants failed to prudently and loyally manage the plan's assets, and failed to adequately monitor other fiduciaries and provide them with accurate information.

Arch Coal Not In Compliance With NYSE Listing Rule

On May 21, 2015, Arch Coal, Inc. was notified by the New York Stock Exchange (the “NYSE”) that the average closing price of the Company’s common stock had fallen below $1.00 per share over a period of 30 consecutive trading days, which is the minimum average share price required by the NYSE under Section 802.01C of the NYSE Listed Company Manual (“Section 802.01C”). In response, as required by Section 802.01C, the Company plans to notify the NYSE of its intent to cure the deficiency and restore its compliance with the listing standards of Section 802.01C, and it will submit a plan outlining the actions it intends to take to do so. Under Section 802.01C, the Company has six months following receipt of the notification to regain compliance with the minimum share price requirement. The notice has no immediate impact on the listing of the Company’s common stock, which will continue to be listed and traded on the NYSE during this period, subject to the Company’s compliance with other listing standards, under the symbol “ACI,” but with the added designation of “.bc” to indicate the Company’s “below compliance” status. In the event that the Company fails to restore its compliance with the continued listing standards of Section 802.01C, that section calls for the NYSE to commence procedures for the suspension and delisting of the Company’s common stock.

Arch Coal Announces Board of Directors Succession Plan

Arch Coal Inc. announced several changes to its board of directors in keeping with its planned succession process. John W. Eaves, previously Arch's president and chief executive officer, has been elected chairman and CEO effective immediately, succeeding Wesley M. Taylor, who will remain on the Arch board. Taylor joined Arch's board in 2005 after a long, successful career at TXU, and was elected lead independent director in 2013. In addition, the board elected Paul T. Hanrahan to the position of Lead Independent Director, effective immediately. Paul A. Lang, previously Arch's executive vice president and chief operating officer, has been elected president and chief operating officer, effective immediately.

 

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