No dividend, no production growth, no raises, no bonus. Any others? Feel free to add to the list!
22 replies (most recent on top)
Uhhhh...hate to tell some of you but the bonus structure is not set on stock performance. Amazing how some of you still don't understand how the bonus works.
Absolutely 100% spot on 120575!!! That's the best and most accurate post on this site. Preach on!
I don't think the CHK employees understand what the real company goal (scheme) was. In my opinion the scheme was to make the Officers, Directors and some key Managers rich. Aubrey created CHK by promoting acreage plays. In my opinion attempting to drill economic wells didn't matter. Booking highly inflated reserves on every well and acreage play attracted the dupes. Every partner, property purchaser, royalty trust owner, or buyer of most anything CHK sold or spun-off got burned. Bottom line is the proceeds from these deals and issuing debt to keep drilling built CHK. People are naive if they believe production revenue alone will keep the doors open at CHK.
LOL. I don't think 120121 wrote anything about thinking it would ever be paid off. Everyone knows that the very large legacy CHK debt didn't get created over night - nor will it get payed down without some BIG asset sales and laying off a LOT of people! So let the bloodletting begin! Then the stock will rise. :)
120121- LOL AT YOU for thinking a terrible company like chesapeake can ever repay its debt.
Safe to assume the Christmas party will be a little different this year. Catering provided by Golden Corral and musical guest, 9th place finisher from American Idol season 3! Rather than a convention center downtown, we will just utilize central parking garage and start fires in old oil drums for warmth.
LOL. Well I don't know about 120121 but NONE of us have bottled water anymore and we bring our own soap from home. :) We are all taking one for the CHK team and saving that mulla to pay down some debt!
@120121 You must office in The Glass House. How is it in there?... Do they give you fresh bottled water? Do your soap dispensers always work?
Completely agree Anonymous120060. These Lawler haters (Aubrey drones) are quick to forget that the thing causing our stock to fall further than the peer group is the LARGE LEGACY DEBT - accumulated by the OLD management team and yes the current CFO was one of them! The current CHK will have to pay down the sins of the past before the investment community will look at CHK differently. As for bonuses - the Industry won't pay out for another 6 months and A LOT can happen in 6 months!!! Good or bad - just look at the last 6 months.
Where do these people come up with this stuff? You're about six months too early to be speculating about comp, idiots!
We're getting bonuses at my shop. On another note, if we, the stockholders, are not getting a dividend, you guys certainly don't deserve a bonus.
Hahaha! Golden parachutes from the CHK store! I'm assuming the special order comes when you put in your salary grade. Only certain #s and higher are allowed to purchase, huh?
On another thought, I wonder if Doug will pull a move like his brother who ditched SD when things got tough?!?! Maybe the Lawlers aren't up for a good fight! (Even though they have wrestled alligators, or so the article said!)
If you look closely at the aforementioned glass house, you might see the packing of the golden parachutes. Special order only from the CHK store.
@119906 Solid critique all around. I agree (and am not impressed) by current management's bush league maneuvers on getting ahead of information/issues with analysts. First quarter conference call set up a lot of the mess-let's have an educational day. I would have dropped the rating just because they barely took any questions! I also don't like that they now cry AKM for all the problems. I think they thought they would put in 2 years and walk away with pocketfuls of cash on a sell of the company. I personally think AKM would have been able to swing some deals to have kept the company going at this point. At least he wouldn't be hiding in his glass house on campus, ignoring Wall Street and us pitiful people that own the stock.
@119724 You know at some point you have to take responsibility for your issues in front of you. Funny thing is I remember last year Execs taking credit for their changes implemented leading to $30+ stock price. Now that we are sub $10 all I hear is blame on previous administration. Reminds me of Obama rethoric. That said, there have been fundamental mistakes made by new team communicating on a transparent level our plans for the future to Wall St. For example, our hedges are setup as collars delivering only a slight cushion above market spot price on only a portion of our crude production. The new team is all about locking in stability, but somehow missed a critical piece to maintaining stability in volatile commodity markets. You can say they were bullish on oil, but these revenues missed by hedging wrong cost us big time. And I know the Williams contracts kill us, but those were also executed by the current CFO. His lack of experience in midstream contracts to advise AKM of pitfalls hurt us. But I agree AKM cost us big time on Williams deal. 20/20 hindsight now. Onward and Downward? Hopefully not for too long...
Problems with CHK = founder AKM. Problems with Sandridge = Tom Ward. Put blame where blame is due. They spent years creating a mess AND It takes YEARS to clean up a sewer system like both were created to be.
don't forget "no company" any day now!
Add soon: no job!
Agree with @119777, believe it or not there are companies that don't base their entire compensation plan on stock performance. Even better, some companies don't even have publicly traded stock.
The person who said bonuses won't be paid industry wide, you're an idiot and Just trying to make yourself feel better about the CHK slow death. The only other company that's doing as bad is sandridge!
No raise or bonus will be pretty much industry wide this year...
And all the hot ass has left to boot!