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From NDNATION.COM chat board:
“I had the opportunity to due some work for Chesapeake in the early 90’s and came to know Mclendon. He is only lying when his lips are moving.
Well today it turns out that he had to sell 33 million shares over the last 3 days due to an involuntary margin call. This stake was worth 1.5 billion a few months ago.
So he is broke despite a longtime pillaging of the company with stock options and overrides. He is the poster boy for overpaying for leases and drilling like crazy. He is the lead dog in the coming oversupply of natural gas.”
Monday, October 13th, 2008 Chesapeake Energy Trackback URL for this entry
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