Murray Comments on Coal Industry

Murray also scoffed at claims from some coal companies that they are reducing costs to compete during the downturn. Murray did not name any specific coal producers.

"These coal companies are telling you, 'Well, we're reducing our costs to compete in this bad market.' Hey, bankruptcy coming!" he said. "Because in the coal business, you already had your costs as low as you could possibly make them every day. That is garbage from public coal companies who are worried about their stock price. Be alerted."