Bankrupt Patriot Coal, mine workers union reach deal

|About: Patriot Coal Corp. (PCXCQ)|By:, SA News Editor

Patriot Coal (PCXCQ.OB) and the United Mine Workers say they reached a settlement the union claims eases the severity of wage and benefits cuts a bankruptcy judge had allowed the company to impose.

Patriot says the deal keeps the company on track for reorganization, not liquidation; the union says its 1,800 active or laid-off members in West Virginia and Kentucky can vote on the deal Friday.