RECESSION WATCH: Historic Blenko Glass Goes Down

(01/31/2009)
COAL OUTFIT IDLE - About 200 people lost their jobs Friday after Foundation Coal Company announced that it is closing its Laurel Creek Mining operations in Mingo County.

The Laurel Creek complex consists of three active underground mines and a preparation plant. The complex produced approximately one million tons of coal last year.

In a press release, the company says the idling is based on unfavorable current market conditions, and difficult mining conditions, which together make the operation of the mining complex uneconomic.

FAMOUS GLASS OPERATION DISCONTINUING - Blenko glass can be found on mantles and in museums around the world.

Blenko Glass in Milton is shutting down production, while filing for bankruptcy.

The historic glass company has been in operation since 1921.

Approximately fifty people will be unemployed.

The company has had a cash flow problem over natural gas used at the factory from its supplier.

A court ruled that Blenko owed Big Two Mile more than a half million dollars in 2005.

The release states that Walter Blenko and Don Blenko invested more than two million dollars in the company recently to bring it back to profitability.

It says the Blenko's were working under the assumption that Big Two Mile would not try to shut the company down.

On January 15th, Big Two Mile started retrieving its money from the Blenko accounts.

BUCHANNON COMPANY CONTINUING LAYOFFS - Corhart Refractories in Buckhannon has announced 20 layoffs.

The plant employs 175 area residents. The plant produces ceramic refractories.