Thread regarding Chesapeake Energy Corp. layoffs

You can’t describe those people as white trash per se. Some of them came from money. Those people had some legitimate white trash roots and as everybody knows there is plenty of white trash in the patch per the hands, but hands are, legitimately, stupid and come from deprived circumstances. The hands come by it honest. For the others, it is an intellectual choice and so has to be seen more as evidence of how big of low lifes they are rather than that they came from deprived backgrounds. I know what your thinking—they are still just as stupid and evil as poor white trash. You’re preaching to the choir. That’s why you had all the stealing and loss of investor money.

I don’t know why you’re criticizing Kirkland and Ellis. If you met the people running the Shalers you would be stunned by how white trash and incompetent the people are. Yeah, several of them picked up degrees from state universities and a couple even went to fancy schools out East, because the educational system is rigged so they can get by, but they were all complete nobodies, as nasty temperament wise as they were incompetent. None of them should have been trusted to run a filling station.
Kirkland papered the Shalers up so well they were able to steal trillions. That’s right trillions. If you take the Shalers at their highest enterprise value (shares outstanding x market value) and look at where they ended up, they have lost trillions for the American investor. Bloomberg Energy said the cash value lost by the Shalers was a couple of trillion 2 years ago. It has to be much more than that today.
If you consider the amount of money, just the Okies stole with the aid of Kirkland, plenty of people in Oklahoma would consider Kirkland laudable.

Are you crazy? If there was no watered stock, no underwriting syndicates, no stock selling schemes, Kirkland and their dirtbag friends, the bankers, wouldn’t be able to steal. What would be the point of it?

The idea of doing away with prod supts is good, but will not work at chkaq. That would mean the foremen would directly report to ops manager, which was a good but that manager would have to understand prod. Try that in STX and let me know how it works out. His response to any pushback from the field is “Dougs my friend”. That guy is a total loser.

When I read Bloomberg Energy the most common name I see advising Shalers is Kirland & Ellis—they had their hand in originating, financing, operating and finally liquidating a large percentage of the Shalers that cost the US Investor so dearly. Imagine that—clowns from a law firm advising an Exploration Company on staying in business. Well, Kirkland’s advice works for a very short time and then the Shalers have to start cheating, stealing, stiffing the people they do business with and then everything falls apart.
Some grad student needs to figure out how much Kirkland and Ellis got paid to stink the place up so bad. Kirkland has full out been a financial holocaust for the American Energy Investor—they have been decimated by Kirkland’s handiwork.
John D. Rockefeller published an autobiography in 1909, by Doubleday, and then immediately retracted it and bought up all existing copies. It was decided, the book gave away too many secrets. Anyway, on page 18 John D. explains why Standard succeeded:
“Another thing to be remembered about this so-called "octopus" is that there has been no "water" introduced into its capital (perhaps we felt that oil and water would not have mixed); nor in all these years has any one had to wait for money which the Standard owed. It has suffered from great fires and losses, but it has taken care of its affairs in such a way that it has not found it necessary to appeal to the general public to place blocks of bonds or stock; it has used no underwriting syndicates or stock-selling schemes in any form, and it has always managed to finance new oil field operations when called upon.”
For the geniuses at Kirkland—make sure you get that:
No watered stock;
No Underwriting Syndicates;
No Stock selling Schemes;
Finance field operations through free cash flow and accumulated earnings;
Kirkland lawyers, the Kings of all Stock Water, need to write a book—How to Get Filthy Rich While Stinking the Place Up to High Heaven.

Anybody think there will be more voluntary layoff offers or layoffs with severance? Do you think they will happen before, or after, bankruptcy is final? Enquiring minds wanna know

The company still has so many habits in place that caused them to go to bankruptcy.

1. Too many Engineers making 100 to 120K per year, that only have one or two projects they are working on. Almost every Foreman I know is juggling 8 to 10 projects each day.
2. Gulf Coast set the standard. Why does a BU need highly paid Prod. Supt., when they really do not have that much to do. Ease them out, divide the area in two and put a Prod. Foreman over each area. You would cut cost on multiple salaries. Was very good decision and great cost saver.

OK Then

Don’t forget little Jimmy.