Increasing production in the past doesn't have much to do with it if the long term prospects are dim. Plus the article you linked said it was increased in 6 mines.... they own 8 mines and he laid people off at 2 of the 8 mines leaving 6 as is.
But Atlictoatl's larger point is about media hysteria. If I am to understand the timeline right, he worked his way up starting at 16 mining coal to become CEO of a Mining company before being terminated then he invested in his own mine and grew from 1 small mine to
|"Murray Energy Corporation produces approximately 30 million tons of bituminous coal each year and employs approximately 3,000 people in the United States. In addition to its mining operations, Murray Energy owns and operates river, truck, and rail terminals on the Ohio River; a rail loadout facility in Central Utah; and a diesel and mining equipment rebuild facility in West Virginia." |
. Then he saw something on FOX that had some political hyperbole so he laid off 5% of his workforce? I don't find it very likely that he's making business decisions based on something he saw on the nightly news. He likely has accountants telling him the same thing that I hear from the accountants I know.
I do, however, find it likely that the reports over the last year plus about how bad it's going to be for businesses and their employees with all these regulations were ignored and dismissed as simple political spin. As a result of the ignoring people will be surprised when the hammer drops and we drop back into recession (or our recovery simply continues to be weak) even though there was ample warning.