Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Newspaper article St Louis Post-Dispatch (MO)

Business Digest

Article excerpt

Foresight still talking with creditors * St. Louis-based Foresight Energy extended talks with creditors as it has many times since December, as it seeks to restructure more than $1.2 billion in debt. The mining company, which specializes in highly productive Illinois longwall coal mines, raised on Tuesday the prospect of a Chapter 11 bankruptcy filing if it couldn't reach a deal with lenders. A Delaware court ruled in in December that there was an event of default when Ohio coal miner Murray Energy bought a large stake in Foresight, giving its creditors the right to early repayment. Some of them have agreed not to force repayment while negotiations are ongoing, and the most recent deadline set by that agreement was Tuesday. Foresight said Wednesday that it had extended the agreement until March 22. This week, the coal mining company also faces the expiration of a 30-day grace period on an interest payment that was due last month.

Senate blocks bill that would override state GMO labeling laws * The U.S. Senate blocked on Wednesday a bill that would nullify state and local efforts requiring food makers to label products made with genetically modified organisms, or GMOs, as the industry races to stop a Vermont law from taking effect July 1. The proposed legislation, sponsored by Sen. Pat Roberts, R-Kan., comes amid growing calls for transparency in the U.S. food system. Labeling advocates oppose the bill because it leaves the decision to disclose GMO ingredients to the companies whose products contain them. The bill is known as the Biotech Labeling Solutions Act by supporters and the Deny Americans the Right to Know, or DARK, Act, by opponents. Proponents of the legislation failed Wednesday to obtain the necessary 60 votes to advance the bill in the Senate, with 49 yes votes and 48 no votes. Roberts vowed to keep fighting as the deadline looms for Vermont's law which requires labels on food products containing GMOs to take effect.

Judge orders Chipotle to rehire worker fired after tweets * An administrative judge has ordered Chipotle to rehire a Philadelphia- area employee who was fired after criticizing the company on Twitter last year. …

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