Comments on: Chesapeake CEO Sells Stock In Company, Blames Crisis

By: Dallasite

Dallasite — Sun, 12 Oct 2008 19:45:43 +0000

“Poor thing, he only made a little more than half a billion dollars from the sale of his stock. I guess this economic downturn is hurting everyone.”

If this was 100% due to margin calls, he may not have made anything. There’s a decent chance he’s broke.

By: Bevo

Bevo — Sat, 11 Oct 2008 05:04:12 +0000

It was around $70 in July actually. All energy equities peaked in July in concert with record crude oil prices. Since then, along with everything else, the price has plummeted. Global economic slowdown!!

By: shrinkrap

shrinkrap — Sat, 11 Oct 2008 03:07:37 +0000

“It’s not the end of the world people. Until the Obama regime starts.”

That’s right, then it will be a better world.

By: KRM

KRM — Sat, 11 Oct 2008 02:48:15 +0000

CHK is still up 15x over the last 10 years. Aubrey had CPK on margin because he had already cashed out and diversified so much capital over the years. This was only a short-term paper loss, but with this insane market volatility, these paper losses are turning into cash losses. For those with excess cash, this is the greatest market buying opportunity of our lifetimes. Aubrey is still a ridiculously wealthy guy and Chesapeake a great American success story. Gas prices doubled in 12 months, so he doubled down on the ride up, then ate the loss when prices crashed to near normal levels. It’s not the end of the world people. Until the Obama regime starts.

By: shrinkrap

shrinkrap — Sat, 11 Oct 2008 01:25:02 +0000

Any word on Tracy Rowlett’s future with Chesapeake’s news (propaganda) TV channel?

By: Trey Garrison

Trey Garrison — Sat, 11 Oct 2008 01:13:02 +0000

It’s back, G.

By: Another Insider :-)

Another Insider :-) — Sat, 11 Oct 2008 00:03:42 +0000

I can tell you it’s definitely hurting the “peons” who work for Chesapeake and own stock options in the company. Chesapeake’s stock was around $70 last spring, and now it’s at $16.52!!?? A certain relative of mine who works there is probably not going to be retiring in the next few years like he thought he would…

By: John M

John M — Fri, 10 Oct 2008 23:41:50 +0000

According to the last SEC filing he holds 33,454,424 shares of Chesapeake. At the 16.52 closing price that is $552,667,084.

Poor thing, he only made a little more than half a billion dollars from the sale of his stock. I guess this economic downturn is hurting everyone.

By: glenn hunter

glenn hunter — Fri, 10 Oct 2008 23:41:17 +0000

Trey: I dunno. Either I hit the wrong button and blew it up, or the gods of editing have intervened.

By: Kirk

Kirk — Fri, 10 Oct 2008 23:03:06 +0000

Gosh, he must have forgotten about that when the company issued another release this evening, and McLendon was quoted thus:

Aubrey K. McClendon, Chesapeake’s Chief Executive Officer, commented, “We are pleased to highlight the steps Chesapeake is taking to further enhance its financial strength and also to highlight the tremendous growth in the company’s resource potential. We look forward to providing extensive operational details and showcasing the attractiveness of our corporate strategy, the quality of the company’s assets, the breadth of Chesapeake’s technical expertise, the value of the company’s asset monetization strategies, our unique corporate culture and our vision for the future at our Investor and Analyst Meeting at our corporate headquarters on October 15 and 16.”