User:Oceanflynn/sandbox/Pittston Coal Company

Pittston Coal Company headquartered in Glenn Allen, Vermont In 2003 Pittson Company changed its name to Brink's, a Fortune 500 firm. The energy crisis of the 1970s dramatically increased the world's demand for coal, and Pittston shifted its resources to take advantage of this change. Under the leadership of its CEO, Nicholas T. Camicia, who has joined Pittston as President in 1969, Pittston invested heavily in coal by "opening new mines and modernizing its production." Camicia became CEO in 1970 and served as Chairman and CEO from 1976 to 1983." In those years, "Pittston became the leading independent coal producer and exporter in the United States."

In 1935 the Alleghany Corporation, an investment holding company, created The Pittston Company to "oversee some mining operations." In 1944 private investors purchased Pittson. By 1951 Pittson was making "significant investments in bituminous coal mining operations."

1950s
Under the direction of CEO, Joseph Routh, "Pittston developed interests in oil marketing. In 1951 it acquired the Metropolitan Petroleum Corporation, a wholesale and retail oil distributor in New York City." In 1954 Pittston when acquired Motor Haulage Company its trucking and warehousing operations surpassed its coal and oil divisions. Pittston became a fully independent company when Alleghany, its parent company, remaining 50% interest in Pittston.

1970s
In 1972 Pittston Company's boss, 79-year-old Joseph P. Routh's office was on the 35th floor of the Pan American building. During the Depression, Routh was able to get an unsecured loan of $10 million from Manufacturers Trust to take over Pittston Company and lead it out of impending bankruptcy. Routh began to sell most of Pittston’s properties in Pennsylvania and purchased "tracts of coal in central Appalachia."

Under the tenure of CEO, Nicholas T. Camicia, who has joined Pittston as President in 1969, Pittston invested heavily in coal by "opening new mines and modernizing its production." Camicia became CEO in 1970 and served as Chairman and CEO from 1976 to 1983." In those years, "Pittston became the leading independent coal producer and exporter in the United States."

The Pittson company was seen as having inadequate safety standards after the Buffalo Creek flood of 1972 in which 125 miners were killed.

In 1978, Pittson acquired 1978 Brink's Inc.

Camicia became CEO in 1970 and served as Chairman and CEO from 1976 to 1983." In those years, "Pittston became the leading independent coal producer and exporter in the United States."

1980s
In 1983 Pittsom Petroleum combined its trucking and warehouse operation. In 1984 Pittson sold its oil business.

In 1984 Pittston, under Paul W. Douglas, chairman, president, and CEO, continued to develop its air-freight business and acquired WTC Airlines, Inc. in 1987. Burlington accounted for 51 percent of Pittston's total revenues in 1989. At that time Pittston was "the nation's 17th largest [coal] producer."

On January 31, 1988, Paul Douglas terminated retirement and health care funds to about 1500 retired miners, widows of miners, and disabled miners cited declining coal prices, decreasing demand, and recession. Douglas also refused to contribute to the benefit trust established in 1950 for miners who retired before 1974 and the refusal of the company to bargain in good faith as grounds. To avoid a strike, Douglas threatened that if a strike were to take place, that the miners would be replaced by other workers. The UMW called this action unjust and took the Pittston company to court. The Pittston Coal Group also known as the Pittston Company also withdrew from the Bituminous Coal Operators Association (BCOA). The owner of the Pittston company at the time, Paul Douglas, left the BCOA because he wanted to be able to produce coal seven days a week and did not want his company to pay the fee for the insurance. Miners worked from January 1988 to April 1989 without a contract. Tension in the company grew and on 5 April 1989 the workers declared a strike. The Pittston Coal strike of 1989-1990 was "one of the longest and largest incidents of civil disorder and civil disobedience in the United States in the second half of the twentieth century." It lasted for many months and included both violent and nonviolent strike actions took place. "Demonstrations took place around the headquarters of the company's coal operations in Lebanon, Virginia., others were held in Greenwich, Conn., where The Pittston Company, the coal group's parent company, is based. Other Pittston subsidiaries are Burlington Air Express, Brink's Inc., and Brinks Home Security."

On 20 February 1990 a settlement was finally reached between the UMWA and the Pittston Coal Company. The U.S. Supreme Court ruled in favor of the UMWA. However, most of the strikers lost their jobs and continued to struggle for pensions and health benefits. Pittston had nine subsidiaries involved in coal mining: Buffalo Mining Company, Clinchfield Coal Company, Eastern Coal Corporation, Elkay Mining Company, Jewell Ridge Coal Corporation, Kentland-Elkhorn Coal Corporation, Meadow River Coal Company, Pittston Coal Group, Inc., and Ranger Fuel Corporation. The Bush Administration appointed William J. Usery Jr. in November to attempt to resolve the deadlock.

""On a community level, the strike has ruined businesses, impoverished families, turned neighbor against neighbor and local police against state police.""

- Hinds. 1989. The New York Times

Union leaders at the time claimed that the Pittston strike set the tone for collective bargaining in the 1990's. By 1989 Pittson's profits were down. The company was having labor disputes and energy crises.

1990s
In 1999 Pittson sold its "warehousing interests and diversifies into home security services." In 1999 Pittson exited the coal business and changed "its trading stock structure to a single corporate issue."

2000s
In 2003 Pittson changed its name to the Brink's Company, a Fortune 500 firm.

Joseph Christopher Farrell was President and CEO of The Pittston Co., now Brink's, a Fortune 500 firm. Farrell joined Pittston as senior vice president in 1978, eventually moving up the ranks to become chairman and chief executive officer in 1991. He moved the Connecticut-based company to Richmond in 1996 and retired in 1998.