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Chesapeake Energy (CHK) and McClendon aficionados will surely remember 2008, when the CEO and...

  • Wednesday, April 18, 2012, 8:24 AM ET
    Chesapeake Energy (CHK) and McClendon aficionados will surely remember 2008, when the CEO and the company nearly went down after he received margin calls on loans he had taken out to purchase stock in the company. A stake worth $1.9B at one point mostly vanished. (today's borrowing story)
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This news story has 22 comments:

  •  
    As I've said before on multiple occaisions, CHK is today's Enron.
    18 Apr 2012, 09:28 AM Reply Like
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    I think you must be right Maverick. I decided early on to stay far away from CHK and have never been able to understand the semi-religious following it seems to have.
    18 Apr 2012, 01:47 PM Reply Like
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    could be ugly - I think the 08 low was around 9.60ish
    18 Apr 2012, 09:49 AM Reply Like
  •  
    I think 11 something
    18 Apr 2012, 02:11 PM Reply Like
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    Clearly the Board isn't doing it's job and should be replaced. McClendon is a repeat offender. Let the class action lawsuits begin! I bet CHK will see $10 before it sees $20. Wish I had sold at $30!
    18 Apr 2012, 10:09 AM Reply Like
  •  
    http://on.barrons.com/...

    To all of you who were pumping CHK, including Cramer, how you like me now?

    Go back and read all of my CHK posts...and then follow me.
    18 Apr 2012, 10:12 AM Reply Like
  •  
    I cleaned out of CHK a long way back because of who was running the place! No surprise here.
    18 Apr 2012, 11:28 AM Reply Like
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    What a sucker I am. I bought CHK on Monday. Aubrey is a POS. I'm coming around to the notion that corporate governors are corrupt, crony capitalists whose sole purpose is ripping off the shareholders in favor of management and themselves. I'm all set to bring derivative suits against these assholes.
    18 Apr 2012, 11:36 AM Reply Like
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    Hate to say i told you so, but you should have paid attention to my posts.
    18 Apr 2012, 11:46 AM Reply Like
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    Tell me something about ERF please; I clicked the follow sign :)
    18 Apr 2012, 02:12 PM Reply Like
  •  
    How will this reflect on CHKR?
    18 Apr 2012, 11:44 AM Reply Like
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    I saw this coming a mile away. He took out mortgages on so many people's properties. They will not live through this one. It's been Enron all along. Get out, get out, get out, if you haven't already. Lawsuits are already mounting.
    18 Apr 2012, 11:44 AM Reply Like
  •  
    ditto. i've been telling everyone this for months now. no, no, no....don't listen to the guy who is actually in the business. lsiten to an analyst or a broker....they know what they're talking about. Ha!
    18 Apr 2012, 11:47 AM Reply Like
  •  
    Just sold out of all my CHK, took a 40% hit :(((
    I hung in there as long as I could!
    I can handle low nat gaz prices, however but this abuse of power is absurd. This news is far from over.....
    This will enable other companies like DVN to soar.
    18 Apr 2012, 12:59 PM Reply Like
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    I sold CHK in 2008 after I learned that the board had bailed out McClendon then when his margin account crumbled. As I remember, the board paid many tens of millions to him for his art collection. It's true that McClendon built the company but now he and the board show that they don't care about the shareholders. Not a company to own until the whole lot of them are replaced.
    18 Apr 2012, 02:13 PM Reply Like
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    Hard to believe. Also, I still remember Cramer last year saying (when CHK was about at 30) "this stock could easily double from here". Didn't remember halving being mentioned.
    18 Apr 2012, 02:14 PM Reply Like
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    Yes, and I remember Cramer back in 2007 or 2008 when natural gas had declined from around 12 to 11 saying: it won't go below 10. A few months later when gas was about 7 he said: it won't go back above 10. So he's batting .500 on his gas call! So far.
    18 Apr 2012, 02:31 PM Reply Like
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    Wow. The reason I always held out of buying CHK(and CHKM) was that flunky CEO. Just the whole artwork/map bs had my ears up. Just glad I never listened to the tv stooge(s).
    18 Apr 2012, 02:16 PM Reply Like
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    When I read about all the defrauded landowners, that was the nail in the coffin for me. Who in their right mind would do business with a company like that? Who would trust management enough to buy their stock?
    18 Apr 2012, 02:43 PM Reply Like
  •  
    Good point!
    18 Apr 2012, 03:21 PM Reply Like
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    I'm retired , just trying to keep a few bucks in the market for spending money , bought chk.@ 30.00, sold at 23.00 hype,hype,hype.. who to listen to ? reminds me of two drunks sitting on a park bench,broke, the one said to the other ,you look rather smart , why you here , reply was , I was a hard head , I would not listen to any one , why you here ? reply was , I was a dumb ass, " I listened to every body"
    18 Apr 2012, 11:37 PM Reply Like
  •  
    Joseph, sorry to hear that! I guess the good news is that you sold at 23 and not at 18. I liked your story about the two drunks. Thanks for sharing it.
    19 Apr 2012, 12:16 AM Reply Like
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