Jonathan Swift

Chesapeake Energy CEO in Questionable Compensation Deal

In spite of the often sarcastic and condescending tone of this blog (perhaps one of my own tendencies), it is one of the best descriptions of the weakness in the American corporate governance system I've seen. To me the main point is a question of how to improve a ubiquitous system whereby Boards of Directors do not really spend the effort/time to do fair judgement of the company's executives but instead rubber stamp company suggestions so that they can comfortably stay on the Board and collect their monetary and public rewards.
My view is that company executives should not be eligible to even be on the Board much less be Chairman. Of course, they are required to appear and report at Board meetings at the mandate of the Board, but are not present for votes on any issues or important discussions that affect their compensation.
Somehow selection of nominations for Board positions and reelection of current Board members should also be made more independent of company executives and more influenced by shareholders. Any one have any suggestions?

Pequot Capital: Yet Another Hedge Fund Buying Gold

What fools these mortals be!
Yes there will be inflation sometime in the next few years.
But what glitters is not gold before 2011.
Commodities other than gold will boom way before then.

The Shadow knows!

Chesapeake Energy: Back from the Dead

Wobatis:

In answer to your question about my disclosure, I'm embarrassed to say that I also have been long CHK... maybe longer than you and Petredis, but I'm finding it more difficult to believe in Aubrey McLendon's leadership as these CHK missteps are increasingly disclosed. I tend to agree with Lunn's observations above.

Chesapeake Energy: Back from the Dead

This commentary reads like almost hysterical "wishing upon a star." One gets the impression that it is desperate self-serving promotion, especially from the author's "Disclosure: The mutual fund the author manages, the author’s family, and the author are all long CHK." I can imagine the embarrassment the author faces at family gatherings having talked his family into a major losing financial proposition.