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In its latest charge against SandRidge Energy (SD +1.8%), hedge fund TPG-Axon alleges that a...

In its latest charge against SandRidge Energy (SD +1.8%), hedge fund TPG-Axon alleges that a company controlled by the CEO's children has amassed ~475K acres near SD's operations and would benefit from SD's efforts to build infrastructure there. But SD gets a vote of confidence from proxy advisory firm Egan-Jones, which recommends shareholders support the company's board.
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Comments (12)
  • Bob de'Long
    , contributor
    Comments (701) | Send Message
     
    TPG-Axon may be able to prove it's case against CEO Tom Ward, but then TPG-Axon will probably let him escape, in fact will probably pay hm to leave.
    19 Feb 2013, 12:22 PM Reply Like
  • Bob Curtin
    , contributor
    Comments (88) | Send Message
     
    Egan-Jones has lost every ounce of credibility with its comments supporting the existing BOD. Not a word in their release about the obscene compensation paid to Tom Ward. the dealings of the WCT competing with SD, the outrageous operating expenses, the number of company aircraft.

     

    Typical rating agency, they miss the crucial argument that step 1 in righting this ship is curbing the power of the tyrant by bringing in a BOD composed of adults.
    19 Feb 2013, 12:30 PM Reply Like
  • Etep
    , contributor
    Comments (247) | Send Message
     
    Ward gets ~ $95MM payout upon change in control of the company!!
    19 Feb 2013, 12:31 PM Reply Like
  • Bob Curtin
    , contributor
    Comments (88) | Send Message
     
    As disagreeable as the thought of giving Tom Ward additional monies is, it beats the alternative. The new BOD can recoup that money by simply ending SD's involvement in the NBA and selling off the company's aircraft.
    19 Feb 2013, 12:43 PM Reply Like
  • pluchel
    , contributor
    Comments (8) | Send Message
     
    Egan-Jones barred for 18 months. Said they performed 150 ratings of asset backed securities and 50 ratings of governments. The truth is they performed NONE. How do you miss 0! SEC called E-J and upstart firm. SD calls them on of the nations leading independent advisory firms. They are both liars and really make a wonderful team. Get rid of both of them and let TPG start working for the shareholders.
    19 Feb 2013, 12:50 PM Reply Like
  • Pudentane
    , contributor
    Comments (113) | Send Message
     
    And how much did Tom Ward and his Three Evil Monkees BOD pay Egan-Jones for their endorsement? Free rides on the corporate jets to see the Oklahoma Thunder play basketball?
    19 Feb 2013, 01:03 PM Reply Like
  • TFCAB
    , contributor
    Comments (2023) | Send Message
     
    What a pleasure it was to watch Miami dismantle the Thunder the other nite; Heat up by 25 most of the game. All i could think of was Ward and McClendon courtside yucking it up........true vindication will be when they're both out on the street.....altho as we all know, neither will need to look for work anytime soon.
    19 Feb 2013, 03:00 PM Reply Like
  • TFCAB
    , contributor
    Comments (2023) | Send Message
     
    BTW - my GREEN shareholder proxy was already sent in.
    19 Feb 2013, 03:00 PM Reply Like
  • Lexy1
    , contributor
    Comments (12) | Send Message
     
    How much did Ward compensate Egan-Jones for their endorsement,
    its obvious they too are in cahoots, when you take away the money Ward has, looks like he can buy anyone for some profit from him.
    Hey, what happened to honesty, is that no longer in the dictionary for
    company CEO's.
    19 Feb 2013, 04:41 PM Reply Like
  • Mark Broer
    , contributor
    Comments (58) | Send Message
     
    I already instructed my broker to vote the GREEN proxy card.
    19 Feb 2013, 06:22 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (10021) | Send Message
     
    Egan-Jones-
    Arthur-Anderson
    20 Feb 2013, 08:19 PM Reply Like
  • Swamprat01
    , contributor
    Comments (3) | Send Message
     
    I would not believe Egan Jones if they told me that the door with "Mens" written on it meant it was the men's "John"
    21 Feb 2013, 07:06 AM Reply Like
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