Thread regarding Chesapeake Energy Corp. layoffs

Wildhorse was the nail in the coffin for CHK! It was arrogant, egotistical and reckless in the poor financial condition they were in at the time, and just look what happened. Bryan L. might agree.

Were stuck with Lawler for the foreseeable future. I knew the fix was in weeks ago. Surprise, surprise– the Judge, who used to be an investment banker and has zero understanding of oil and gas exploration, thinks the BOD and Lawler did a splendid job.
Yo Judge! Check the batteries in that HP 12c you were talking about. Better yet—get a HP 10b II—it’s simpler and your skills are weak.
The Judge was an apologist for the fraud from day one. Yesterday, the Judge said that just the thought of being on the Chesapeake Board during the past 3 years was frightening to the Judge. The Judge thinks that the Board and Lawler are some kind of modern day Achilles equivalents—he may as well have started his comments with “Oh brave Ulysses.”
It’s clear to me that this judge has never done a day of real work in his life.
It was bad, bad, bad. What a farce this whole bankruptcy has been.
But the Judge is not the only problem. The UCC couldn’t/wouldn’t produce any real alternatives to the proposed plan, couldn’t produce a witness who would state CHK should be liquidated.
I’ll finish with an example of the folly. Yesterday, the lady lawyer for Kirkland, arguing in support of the plan, dismissed criticism of the Wildhorse acquisition, which was insolvent at the time of the acquisition, by saying the CHK EBIDA numbers improved for quarters following the acquisition. While not citing a single number, she claimed the evidence was uncontroverted.
EBIDA—earnings before interest, depreciation and amortization. Those numbers are meaningless in the exploration game because capital costs are so high. The bad part is that that claim may have been uncontroverted as the UCC lawyers fizzled out quite quickly. Like Lawler and the CHK BOD, the UCC lawyers were quite weak.
If you have lawyers for the UCC who can’t make a case and a judge who doesn’t understand exploration, the chances for an equitable resolution are slim and none. Yesterday Slim was out of town!

Bankruptcy is final. Now what? I'm betting they drop 600 next Friday, a pure guess based on it's a payday and before Feb 5 bonus payment.

Really appreciate the honesty in that last comment.

I’ve been laid off and 4 months later I still do miss it a lot. I miss my really interesting job, my awesome coworkers that still support me by sending me new job leads, my great boss, people I worked with and people I worked for, my office space...Chesapeake is a great workplace with outstanding PTO and I would go back in a heartbeat if they ever start hiring. I hope CHK stays around for a while

This is an interesting post. I don't disagree, but I have decided to wait, and pray, for a severance. My hope is that I will be chosen, and the severance will be enough to bridge the gap to another, healthier job. I love my coworkers, but we work for a leader that has lied throughout his career. I get so discouraged each time I think about how much money he reaped last year. So many heads of companies sacrificed their salaries, or at least cut their own pay, in order to survive last year. I work for a man who has caused so much destruction in our city, all while he has only gotten richer. He's never really done anything he's preached; do as he says, not as he does. He's a spoiled child who will never be satisfied with what he has been given, who throws fits when things don't go his way, blames every bad choice on others. I'm terrified of what happens if he stays in power. This is just my opinion, and I'm certainly not trying to change anyone's view. I check this forum in order to glean possible information about the next axe to fall.