This would be fun at the STL Cardinal games.
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Yeah I did that the last go around and it went down to $8, thought they were headed for bankruptcy for sure.
The news is McClendon has basically had the curtain lifted, so he's stepping down from his Chairman position and stopping his loan agreement on his stake in the wells. I'm sure many privately held O&G CEO's can get away with this, but when your publicly traded it tends to make the share holders a bit nervous. CHK has lost nearly 50% of it's value since November, not too many of those are reflecting that kind of drop. CHK has been super undervalued on paper, it's the personalities and debt load that are scaring people off.
-2.62 (13.32%) as of noon.
The news is McClendon has basically had the curtain lifted, so he's stepping down from his Chairman position and stopping his loan agreement on his stake in the wells. I'm sure many privately held O&G CEO's can get away with this, but when your publicly traded it tends to make the share holders a bit nervous. CHK has lost nearly 50% of it's value since November, not too many of those are reflecting that kind of drop. CHK has been super undervalued on paper, it's the personalities and debt load that are scaring people off.
-2.62 (13.32%) as of noon.
Did you see the latest story?
It appears he was also trading commodities in the very market his publicly-traded company supplied. If you stand to cut production for your company, which increases your profit in the futures you purchased on the side, it could be considered a conflict of interests.
You have a duty as CEO and Chairman to act in the best interest of the company, but at the same time you may stand to profit personally by making a decision contrary to that.
If he gets really broke, he may just put Pops! in Arcadia up for sale.
How's Devon doing, by comparison? I mean, I've always thought of them as the biggest energy company nobody outside OK has heard about. I couldn't tell you the CEO's name, but I wanna say I read once Devon was like 5 times bigger than CHK. Plus, they have that giant asteroid busting laser cannon downtown. Don't tell me it's an office building...that's incidental to it's true purpose.
Devon took a bit of a hurting in the fall/winter when the supply glut was being announced, but they haven't been down near like CHK has.
DVN: http://www.dailyfinance.com/quote/nyse/devon-energy-corp/dvn
CHK: http://www.dailyfinance.com/quote/nyse/chesapeake-energy-corp/chk
DVN is and always has been more diversified than CHK. CHK is just now understanding why that's important. 
DVN is a better company, CHK will possibly be a better spec stock considering the upside. Both are still trading relatively close to the their book value.
DVN is a better company, CHK will possibly be a better spec stock considering the upside. Both are still trading relatively close to the their book value.I wish I would have took a pic of the other side. It is nice.Fractional ownership among us Okie Cardinals fans? I'll buy a share of that.
