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The Water Cooler
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CHK hits 52 week low
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<blockquote data-quote="inactive" data-source="post: 1782862" data-attributes="member: 7488"><p><a href="http://www.reuters.com/article/2012/05/01/us-chesapeake-mcclendon-idUSBRE8400RI20120501" target="_blank">http://www.reuters.com/article/2012/05/01/us-chesapeake-mcclendon-idUSBRE8400RI20120501</a></p><p></p><p><em>Chesapeake says to replace McClendon as chairman... <strong>Shares in Chesapeake rallied more than 9 percent </strong>in premarket trading on the news.</em></p><p><em></em></p><p><em>McClendon ... will also end a controversial program that grants him minority stakes in Chesapeake's wells as of June 30, 2014, <strong>a year-and-a-half before the program was scheduled to end</strong>.</em></p><p></p><p></p><p>I think the writing was on the wall, and they needed to take some serious (perhaps drastic) action to restore confidence in the company. I also bet a new chairman will start to hack down that debt through a lot of cost cutting. He may not be as popular as ol' Aubrey was. Maybe Aubrey just didn't want to be the bad guy.</p></blockquote><p></p>
[QUOTE="inactive, post: 1782862, member: 7488"] [url]http://www.reuters.com/article/2012/05/01/us-chesapeake-mcclendon-idUSBRE8400RI20120501[/url] [I]Chesapeake says to replace McClendon as chairman... [B]Shares in Chesapeake rallied more than 9 percent [/B]in premarket trading on the news. McClendon ... will also end a controversial program that grants him minority stakes in Chesapeake's wells as of June 30, 2014, [B]a year-and-a-half before the program was scheduled to end[/B].[/I] I think the writing was on the wall, and they needed to take some serious (perhaps drastic) action to restore confidence in the company. I also bet a new chairman will start to hack down that debt through a lot of cost cutting. He may not be as popular as ol' Aubrey was. Maybe Aubrey just didn't want to be the bad guy. [/QUOTE]
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