The U.S. government sued nearly two dozen of West Virginia Gov. Jim Justice’s coal companies Tuesday to get them to pay about $4.8 million in unpaid mine safety fines.
The civil lawsuit was filed by federal prosecutors in Virginia on behalf of the U.S. Department of Labor and the Mine Safety and Health Administration.
Justice’s companies committed more than 2,000 federal Mine Health and Safety Act violations since May 2014 but have refused to pay the penalties despite multiple attempts by federal agencies to get the money, according to the lawsuit.
“This is unacceptable, and, as indicated by this suit, we will hold them accountable,” said U.S. Attorney Thomas T. Cullen.
All 23 companies are listed in the governor’s most recent financial disclosure form and they operate in Virginia, West Virginia, Tennessee, Alabama and Kentucky. Justice and his son and daughter are listed in the lawsuit as controllers of the companies.
Justice has been reported to be the richest man in West Virginia, with a fortune estimated at more than $1 billion by Forbes magazine and a profusion of coal and agricultural interests.
U.S. Commerce Secretary urges India to open markets
U.S. Commerce Secretary Wilbur Ross said on Tuesday that American technologies and expertise could play an important role in developing India’s economy, but were facing significant barriers to accessing its markets.
Ross told a gathering of business leaders in New Delhi that foreign companies were at a disadvantage due to India’s tariff and non-tariff barriers and myriad regulations.
Ross said India was already the world’s third largest economy and by 2030 it would become the world’s largest consumer market because of the rapid growth of its middle class. “Yet today, India is only the U.S 13th largest export market due to overly restrictive market access barriers.”
Meanwhile, the United States is India’s largest export market, accounting for something like 20% of the total. “That’s a real imbalance, and it’s an imbalance we must drive to counter,” he said.
Job openings jump by 4.8 %
U.S. employers advertised almost 7.5 million jobs at the end of March, a solid figure that signals hiring will likely remain strong in the months ahead.
The Labor Department said Tuesday that job openings rose 4.8% from the previous month, while the number of people quitting their jobs slipped. There are now 1.2 million more open jobs than there are unemployed Americans, a dynamic that suggests businesses will have to keep raising pay to attract and retain the workers they need.
The figures underscore the ongoing strong demand for labor that exists among U.S. companies, as the recovery nears the end of its 10th year. On Friday, the government said that employers added a surprisingly high 263,000 jobs in April, while the unemployment rate fell to a nearly 50-year low of 3.6%.
Job openings jumped in construction, shipping and warehousing, health care, and a category that mostly includes restaurants and hotels.
Consumer borrowing slows during March
Consumer borrowing in March grew at the slowest pace in nine months as Americans pulled back on credit card use.
Borrowing increased by $10.3 billion in March, the Federal Reserve said Tuesday. That was the smallest monthly advance since an $8.8 billion rise last June. Borrowing had increased $15.5 billion in February.
The slowdown reflected a $2.2 billion drop in the category that includes credit cards. That offset a $12.5 billion rise in borrowing in the category that covers auto loans and student loans.
Consumer credit is closely watched for clues it can provide of the willingness of households to increase their borrowing to support consumer spending, which accounts for 70 percent of economic activity.
Even with the March slowdown, consumer debt rose to a new record $4.05 trillion in March.
The overall economy, as measured by the gross domestic product, grew at a surprisingly strong 3.2 percent annual rate in the January-March quarter.