The end of the pain is nigh. If you are an investor in the common, get out now. If you are an employee, relax because the company will have a clean balance sheet to start over and they will need employees to work and maintain the assets. What they do not need is the management team that is currently in place. This is a tale of a failure in leadership. All the happy talk and spin in the world is not going to save CHK and that is apparent now. The fact that this team is now enriching themselves during this time and in this environment tells you everything you need to know. They need to go and if the board does not follow through with that, the board needs to be restructured as well.
5 replies (most recent on top)
Nothing wrong with Guthrie!
I love Chesapeake so much. Please don't go or I'll have to go back to Guthrie and make $8.00 an hour.
Doug Lawler s—s!!!
Chesapeake warned this morning that it may not be able to continue as an ongoing company. The executives are cashing in when they still can. They all know what is going to happen. The warning signals are being sent.
I agree. It is the management team’s fault that they inherited 30 bill in debt and midstream costs that made midstream companies giggle behind closed doors. They should all he fired and the board can pay restructuring execs or a new exec team four times as much in all guaranteed pay. Well thought out post.