Will Tom Ward receive the same scrutiny at Aubrey?
.............and robbing banks is against the law! Who makes up these silly rules?
"There is no evidence that McClendon or Ward used inside knowledge gleaned from Chesapeake in their hedge fund trading. Neither the company nor McClendon would comment."
Doesn't that make us all feel better? Seriously, how does the Chairman of a company AVOID using insider knowledge???
the difference could be that he isn't conspiring with anyone else. He's just trading his own little hedge fund. I don't see how he could claim he's not using "insider" knowledge. He's the head of the company. Generally, I am an Aubrey supporter, but this little $200,000,000 hedge fund is mind boggling.
Plus, in a relatively small market like natgas he knows that he can make a statement as chair of CHK and at least for a few hours the natgas markets will respond to it. He can poke the news a little bit and be out in front of the traders.
I don't mind the Founders Club investments at all. Aubrey owns a piece of the wells? Great. It should motivate him to work harder. However, this secret little hedge fund raises all sorts of questions for CHK investors. Not to mention that the fellow just doesn't have enough hours in the day to do all his jobs and do them well.
"I don't know"..(what happened to the money) seemed to work for John Corzine when asked by Congress about what happened to the billion plus dollars that went missing from his investment firm MF Global. It seems to be working for him.
400 million for himself. don't care how he got it. I do care what him and his company is doing the the landowners which i am one(small Landowner). He or his company is hiding expenses withheld from our income. they get to take it off their income tax, which the landowner should be entitled to do so himself. that is one of the many things. which gas prices and gas was up, they were paying about 20 percent below other producers in the area. About half the 400 million should be divided among the landowner, he or the company ran a scam on.
McClendon or some of his employees, surely and certainley figured out a great way to scam most of the landowener. That is for sure.
It is a small thing called GREED. I bought stock when it was in the sixties, I'll never recover my money now. To him, I'm sure it was only small change. As a landowner, I feel cheated on the royalties also. I was so excited in the begining of all of this. I guess the old saying "if it sounds to good to be true, it probably is." stands true today.
as a landowner , without pull, you have been cheated bad. so have i.
I hear you! I bought when the stock was in the mid-seventies. I was actually pleased with my lease as I had laid out some terms I wanted, taken it to an attorney and he put it out for bid and CHK came back with the best offer. No complaints there. A matter of months afterward, CHK sold 20% of their leases to PXP. That has been okay as well, in fact, I kind of wish they had sold more of it to PXP. You would think that my CHK royalty payments would be 5 times that of PXP receipt. After all, 20% is 1/5 of 100%. Nope. By the time they pay on their price per mcf, it is generally up to about 4 times the amount. I know I am complaining some, but I am also grateful for something I never planned on anyway.
I hate this...it isn't falling out to look good for anybody connected with Cheaspeak
Why is it that people with gadzillion of dollars and power just cannot be satisfied with their status?
When I was in high school I did a report on the man who established Beall stores. He had a rule ...make no more then 12% on return of investment. If they made more the management had to readjust. Making more did not go to bonuses. Too bad his generation died out and there were not more like him.
These days the CEO's aren't happy with 1000% returns.
To be as smart as he is why couldn't McClendon see that the deal didn't pass the smell test?
I was working with one of our attorneys yesterday, there were 2 big dogs in the office and one of the dogs had eaten beans or some gas causing food. My meeting didn't pass the smell test. Could have been boiled eggs but the stink didn't float to that low ( or bad) of a smell. Where does the fart smell test come in?
Speaking of fart's, did you know that NG and farts are composed of the same gas?