Oil 77.70 a barrel and droping
10-13-2008, 07:40 AM
#22
10-13-2008, 04:30 PM
#23
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CHESAPEAKE ENERGY CORPORATION DISCLOSES CEO’S
INVOLUNTARY SALE OF COMMON STOCK
OKLAHOMA CITY, OKLAHOMA, OCTOBER 10, 2008 – Chesapeake Energy
Corporation (NYSE:CHK) today disclosed that its Chief Executive Officer, Aubrey K. McClendon, involuntarily sold substantially all of his shares of Chesapeake common stock over the past three days in order to meet margin loan calls.
Management Comments
Mr. McClendon commented, “I am very disappointed to have been required to sell substantially all of my shares of Chesapeake. These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis. In no way do these sales reflect my view of the company’s financial position or my view of Chesapeake’s future performance potential. I have been the company’s largest individual shareholder for the past three years and frequently purchased additional shares of stock on margin as an expression of my complete confidence in the value of
the company’s strategy and assets. My confidence in Chesapeake remains
undiminished, and I look forward to rebuilding my ownership position in the company in the months and years ahead.”
INVOLUNTARY SALE OF COMMON STOCK
OKLAHOMA CITY, OKLAHOMA, OCTOBER 10, 2008 – Chesapeake Energy
Corporation (NYSE:CHK) today disclosed that its Chief Executive Officer, Aubrey K. McClendon, involuntarily sold substantially all of his shares of Chesapeake common stock over the past three days in order to meet margin loan calls.
Management Comments
Mr. McClendon commented, “I am very disappointed to have been required to sell substantially all of my shares of Chesapeake. These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis. In no way do these sales reflect my view of the company’s financial position or my view of Chesapeake’s future performance potential. I have been the company’s largest individual shareholder for the past three years and frequently purchased additional shares of stock on margin as an expression of my complete confidence in the value of
the company’s strategy and assets. My confidence in Chesapeake remains
undiminished, and I look forward to rebuilding my ownership position in the company in the months and years ahead.”
10-13-2008, 04:56 PM
#24
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I used to work for Chesapeake. Aubrey McClendon is a hell of a business man. What started with 4 people, has now grown into a multi billion dollar company with over 2500 employees. About 8 or so years ago, Chesapeake was almost forced to file bankruptcy, and came back harder and stronger than ever, becoming one of the largest Natural Gas producers in the world. Aubrey does what he has to do. If he still has faith in the company, I would not be too worried about the so called recession. It will pass, and everything will be back to a comfortable medium.
And for those that WANT the oil market to drop off, think of the millions of people that rely on the oil market to provide for their families. Kind of a gutless, cowerdly thing to wish for.
And for those that WANT the oil market to drop off, think of the millions of people that rely on the oil market to provide for their families. Kind of a gutless, cowerdly thing to wish for.
10-13-2008, 05:27 PM
#25
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what did you do for chesapeak?? btw grady had a guy from sampson say he heard the same thing.. oh well we gotta work for danny jech soon, im sure ill find out whats true and whats not
10-13-2008, 06:26 PM
#26
I didn't hear about that press release. He works on campus so I'm sure the office environment is distanced from the field environment. I imagine that there is some truth to it then. Interesting. When you find out from Danny let me know.
10-13-2008, 06:30 PM
#27
Think of how the oil companies have raped us since Katrina. I dont have any pity, they made their money off of us and lived good while we struggled to get to work, this is my opinion.
10-13-2008, 07:21 PM
#30
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WE made our money by working our ******* ***' off. Ever been away from your family for 4 to 10 months at a time, just so you can provide for them? Our days start around 4 in the morning and could end at 4 in the afternoon 50 hours later, with NO sleep. While you were struggling to get to work, we were struggling AT work, just so we could provide for the people that depend on us.
Anyways, I am finished with this particular topic. I guess it's different when you witness a friend be blown to peices by a Line Heater, which was a father of three, all under the age of seven. Blown to peices just trying to provide for a family. Maybe you would have a little pity if you had seen the faces of those three kids crying at the funeral, not completly understanding why their father would not return.
It's almost like Military.
Military looses lives everyday to protect your freedom.
Oil Field looses lives everyday to supply products for your everyday lives; lives that the Military is fighting for.
All in all they both loose lives to provide for someone ELSE. People like you that have no "pity"
Side not: If it wasn't for us working in the oil field here in the United States, the price of fuel that you say you are struggling to pay for, would be DOUBLE. Having to rely on 100% of foreign countries. Keep that in mind.
Last edited by TxSqueeze; 10-13-2008 at 07:26 PM.