Chesapeake Energy preparing for bankruptcy

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Shadowrider

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Trump has handed Saudi an ultimatum. ..stay tuned.
Winning!

Trump delivered the message to the crown prince 10 days before the announcement of production cuts. The kingdom’s de facto leader was so taken aback by the threat that he ordered his aides out of the room so he could continue the discussion in private, according to a U.S. source who was briefed on the discussion by senior administration officials.

https://www.reuters.com/article/us-...se-u-s-military-support-sources-idUSKBN22C1V4
 

dennishoddy

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They will be selling their assets to a company that has some cash. btw, I wondered how their stock went from $0.15 per share to $40.00 per share.

Guess who's buying? Its the Chinese. I'm not saying they are buying Chesapeak but they are on a buying spree in the US and Europe right now.

An ancient Chinese stratagem instructs military leaders: “Chen huo da jie,” or “loot a house when it’s on fire.” The tactic is simple and self-explanatory — strike when your enemy is most vulnerable. As America’s people and industries reel from the impact of a global pandemic, the United States must take immediate action to protect our economic interests from being looted by a uniquely opportunistic adversary.

Many U.S. companies have been substantially weakened in both market cap and revenue by the COVID-19 pandemic. With countless companies struggling to survive this crisis, the U.S. should institute a temporary but immediate and total ban on the sale of any U.S. company deemed “critical infrastructure,” whose value has been materially impacted by the pandemic, to a Chinese-owned or controlled entity.

Until the president certifies that the economy has fully recovered from the effects of COVID-19, this ban should remain in effect. This crisis necessitates action far beyond the existing review process of the Committee on Foreign Investment in the United States.

While America seeks to recover from the economic impacts of this pandemic, Congress and the administration must take swift action to ensure China is not afforded any opportunity to enhance its economic foothold in the U.S.

As distressed companies desperately look for funding and investment, the U.S. needs to send a message that financial exploitation by China will not be tolerated, especially if it involves companies working in industries critical to national security and our broader industrial base.

As part of this infiltration of our business community, defense enterprise and culture, China will likely hire an army of lobbyists and lawyers to oppose this proposal. This, too, should be prohibited for the length of the economic crisis in the U.S.

For millennia, Chinese dynasties have employed the tactic of looting a burning house as they vanquished enemies all around them. America must act before we become China’s latest victim.


https://www.defensenews.com/opinion...tments-before-the-us-becomes-its-next-victim/
 

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