Occupy STL protestors rally outside Peabody Energy shareholders meeting

Occupy STL protestors rally outside Peabody Energy shareholders meeting

Occupy STL protestors rally outside Peabody Energy shareholders meeting

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by Mark Schnyder / News 4

KMOV.com

Posted on May 1, 2012 at 11:51 AM

Updated Friday, Nov 22 at 6:27 PM

ST. LOUIS (KMOV) -- A few hundred people held signs and chanted across from the Peabody Opera House where inside Peabody Energy held a shareholders meeting Tuesday.

Occupy groups across the country made May 1st a day for a general strike in 135 cities.

The occupiers in St. Louis are criticizing Peabody for taking advantage of tax breaks and loopholes and not paying what the demonstrators feel is their fair share.

Several dozen St. Louis police officers stood outside their SUVs in front of the Peabody Opera House keeping an eye on the demonstrators.

It was a peaceful demonstration.

Peabody Energey released a statement on Tuesday, saying the company had paid approximately $1.4 billion in taxes, fees and royalties to governments in 2011, including more than $200 million in federal, state and local taxes.

"This amounts to an all-in effective rate of cash taxes and royalties totaling approximately 60 percent in 2011," the statement read.

Peabody officials said the company paid more than 50 different taxes at all levels.

 

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