Did any of the great minds in the CHK brain trust think of that?
For almost the entire history of this country business experts have considered debt toxic. The Bozos, calling themselves Shalers, stood those principles on their heads. The result has been the Haynes & Boone list of energy industry bankruptcies which now totals close to 300 publicly held Shalers since 2014. That is a horrifying statistic and was completely avoidable.
Recently, I read that the turnaround in attitude towards debt coincided with the beginning of the wide spread awarding by universities of degrees in “Business” in the 1970’s. Back then business degrees were considered a novelty. No one took them seriously. I, too, see a connection between the alchemy learned in business schools and the financial catastrophe in the Patch.
When is it going to stop? How much more financial misery will the clowns who have hijacked the Energy industry cause the American Investor? I’m haunted by the letter of a man to Judge Jones which he read on the record in the CHK bankruptcy. On Christmas Eve, the dude nearly committed su----e after he lost all of his family’s money investing in CHK.
Now I’m hearing CHK is planning on acquiring Vine…