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Reuters is out with a report describing how SandRidge Energy (SD -1.6%) gives CEO Tom Ward...

Reuters is out with a report describing how SandRidge Energy (SD -1.6%) gives CEO Tom Ward wide latitude to profit from personal oil and gas deals in ways that pose potential conflicts of interest with the company. There's little new ground - TPG-Axon has accused Ward of similar shenanigans - but the steady drumbeat of negative publicity grows reminiscent of the kind which forced Aubrey McClendon out at Chesapeake.
Comments (11)
  • Wouldn't be so bad if the the part-time CEO (full-time "cattle baron") was compensated with part-time pay. Throw this guy and his BOD cronies out now!
    6 Feb 2013, 10:38 AM Reply Like
  • GOODBYE TOM AND PREPARE TO SEND A REMITTANCE CHECK TO SD FOR SOME OF THE GROSSLY INAPPROPRIATE AMOUNT OF MONEY YOU HAVE RECEIVED.
    6 Feb 2013, 10:54 AM Reply Like
  • My BS detector operates on a scale of 0 to 10. Now the Detector is reading 11 for all the BS SD's CEO and BOD has heaped on us.

     

    RMD
    6 Feb 2013, 11:31 AM Reply Like
  • looking at what's happened to sd investors over the entire life of the company, it's clear that sd is a terrible investment and the only ones who have profited have been ward and his cronies.

     

    i've been fortunate to make money on my sd trades, but never again.

     

    sandridge trusts? now that's an oxymoron.
    6 Feb 2013, 12:30 PM Reply Like
  • Tommie Wardoff.
    6 Feb 2013, 12:40 PM Reply Like
  • Tommie Wadoff.
    6 Feb 2013, 12:40 PM Reply Like
  • I'm an Investor , Insurance Agent and Home Builder in Oklahoma . A person who admires TM ,AKM ,HH, and others as visionaries in the Oilfield . I just wished some would think more of their Fiduciary responsibilities.
    7 Feb 2013, 02:52 AM Reply Like
  • Fiduciary Responsibilities !!! My MBA Instructors stress this daily . When you take the Co. public to grow you must think of these responsibilities DAILY. You have not . It's time for you and your Board to move on . DM
    7 Feb 2013, 02:54 AM Reply Like
  • How does this affect my SD Trusts?
    7 Feb 2013, 03:09 AM Reply Like
  • this isn't about anything except ripping investors off. from day one. how could someone take the salary tom ward has taken in good conscience with the performance of the company? come on.
    7 Feb 2013, 09:14 AM Reply Like
  • Even if he is booted he'll collect another high 8-figures in severance. The shareholders should sue this man, his family, and the entire board out of existence. They've gotten their clocks cleaned so that Ward's great-great-grandchildren will be born multi-millionares. Absolutely sickening.
    8 Feb 2013, 01:26 AM Reply Like
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