"B"..I think it's perhaps YOU who should be doing research. Looks like I'm right about my statement of him selling off his shares rather than using true "available cash"....nice try though.....

Hey Jill! I finally found a good thing about the redesign of NewsOK.com!! It allows paragraph returns now.

B wrote: "What you are seeing is a result of the financial crisis and has nothing to do with the stability of CHK" True but the financial crisis could very well effect the stability of this company and numerous others.

Another article in Monday's paper said the company has borrowed the rest of its revolving amount of credit to invest in Treasury securities. Ummmm, isn't borrowing money to invest what led Mr. Clendon to lose $3 billion (more or less), now his company is going to do the same thing?

Selling assets to raise cash? If you sell your assets, what is there to back up the loans that others have said Chesapeake is up to the hilt with? They may be the #1 producer of natural gas in the country (a commodity that is selling for half what it was a few months ago), but if they aren't financially sound, can you say Enron? Or any other of the Big names of companies that have been in the news lately?

Brad, WSJ article is inaccurate. CHK has over $1B cash on hand and will have $2-3B cash on hand by year end.

CHK will be fine. To all of you naysayers, tune in Tokyo....the entire economy is in bad shape. What you are seeing is a result of the financial crisis and has nothing to do with the stability of CHK....which by the way if you haven't noticed is the #1 producer of nat. gas in the country!

Paul, do some research before you make comments that make you look stupid. As you keep making comments, you are revealing your ignorance as to the facts.

Bwahahaha!! The bust is forthcoming, Okies...and nobody learned anything from the last time....bwahahaha!!!!

I READ IN THE WALL STREET JOURNAL YESTERDAY SOMEWHERE, AN ARTICLE ON THIS SAID CHESAPEKE AT THE END OF THE 2ND QUARTER HAD NO CASH. ANYONE ELSE READ THIS? WHATS UP WITH THAT?

Chris...sorry to disappoint you about the dark alley, but I don't swing that way, you'll have to find somebody else.

Jill, you yourself have to admit that OKC and Oklahoma in general has done nothing to prepare for another oil bust, and they had nearly 3 decades to do so. I'm not sure if this is a result of laziness, ineptitude or just a major dose of complacency, but it's there, and cannot be denied...

For those defending this guy about the reasons he sold the stock, he sold at under 15 bucks a share when it was worth 70 a few months ago? If I "supposedly" had the money Aubrey has, then it seems to me I'd hold onto my shares of stock and use some cash from other sources, rather than take a multi billion dollar hit on selling my stock. That tells me he's "rich" on paper only and has no real cash he can quickly put his hands on to help carry him through times like this....

While I don't agree with Paul's apparent happiness with the prospect of what happened in the 80s happening here again (no matter what magazine said about Oklahoma City being the most recession proof city in the country...notice it is a matter of degree, we are NOT recession proof, just better off when compared to others and that is primarily based on energy prices remaining strong). He is correct, oil will fall (we have already seen the energy sector collapse in recent weeks). Oil was at $145 a barrel a few short months ago, There was talk among the "experts" that oil would hit $200 and even $300 a barrel. Just yesterday I read it is under $90 a barrel. Natural gas has fallen too. The 2nd part of the expected rate increase from the electric company isn't expected to happen now because of it. Even the Oklahoman is saying it "Ed Kelley - On Its Way? When will the financial downturn hit Oklahoma?" Oklahoma has a tendency to be behind the curve in most things (not saying that is a bad thing, it is what it is). As the editorial points out we are not an oasis, our states economy is enter-twined on many levels with the national economy and in turn with the global economy. It's not a matter of "if" but "when" and "how bad". While a rising tide lifts all boats, a lowering tide does what? And if you have a few major ocean-liners that Titanic sized holes in the side of them? Eventually, it will hit Oklahoma and Oklahoma City. To pretend otherwise is foolish. Just take a look at the Oklahoma based businesses whose stock you own. Don't think it is hitting us yet? Ask Mr. McClendon.

From another article posted after this one: "McClendon remains among the nation’s highest-paid executives, earning a compensation package last year valued at $25.5 million." Yes he has lost ($3B or so) but he is far from destitute (yes, I am sure a lot of his $25.5M is tied into stock of the company). Point is, he will survive and making millions and billions more. Think I remember reading how Trump has gone from multi-millionaire to nothing a few times over the years.

by the way, before someone thinks I am being negative on my Devon comment, it isn't...think it is a very impressive looking building and I hope it gets built...but there was an article or two awhile back that told of many a grand plan building plan that was scrapped due to financial problems (not unlike what we are seeing right now). Even the capitol dome fell into that category.

Andrew, the city may not "revolve" around Chesapeake as you say, but do you know that Chesapeake alone (not counting what Aubrey does personally) made somewhere in the neighborhood of $15 million dollars in philanthropic contributions last year? And, as has already been mentioned, 5,000 people are employeed by this company! PS-one does not have to work for Chesapeake to recognize their value to our city.

"It's the beginning of the end for all y'all down in these parts. Remember the 80's? I hope you do because it's coming to a cowtown near y'all once again, and you are no better prepared than the last time.....bwahahaha!!!!" My diagnosis: sick and wrong. Get some professional help, paul. A person who takes pleasure in the prospect of hard economic times for anyone who's a fellow citizen of their country, or even another human being, has a serious problem and needs help.

Chris, you don't want to tangle with a Yukon Miller, home of Garth Brooks.

Anyone around here that is enjoying this or thinks it is funny is an idiot if you have any investment here, including owning a home. One of the reasons our real estate market has stayed in a good range of value compared to rest of the nation is Chesapeake. I'd like to catch Paul from Yukon in a dark alley.. assuming he's not really from Seattle.

Read that Devon has taken a huge hit too, wonder if the new $750M corporate headquarters are still a "go".

I have said for years that Chesapeake was a "shell game" and not much more than another Enron...and it looks like some of my prediction might have been true. Irrespective of whether or not you like Aubrey, it appears that Chesapeake is leveraged up to its eyeballs in debt and now the chickens are coming home to roost. I hope we dont end up with a huge vacant swath of office buildings at the corner of western and 63rd.

Let me guess John, you work there? It doesnt surprise me if you do....and the city doesnt revolve around CHK, hate to break it ta yah.

There are an awful lot of morons on this board. This had nothing to do w/Chesapeake. It had everything to do with the way Aubrey purchased PERSONAL STOCK. He sold his stock. Someone bought the stock. Chesapeake lives on. You idiots who hate Chesapeake and wish for its downfall should be careful. If Chesapeake ever were to fall, the city would fall as well.

Next time, Aubrey, you might consider checking into stop-loss on your margin purchases. I'm only slightly joking.

If the super majors are doing as good as they say they are and as good as everything thinks they are......this would be a keen opportunity to come in and buy this company and its large assest base. Many of these companies would love ths chance to get back into onshore domestic production.

the bitterness on a personal level is not appropriate. It is insightful about how Chesapeake itself may be run and operating. The companies land acquistions in the Nichols Hills area, or purchasing the town of Arcadia should be getting more attention. These are not oil investments- and have impacted the lives of a couple of people I personally know in a most negative way. The rumors of questionalble book keeping and loans swirlcontinue to swirl around Chesapeake- and aubrey.
What folks need to do it read the Wall Street Journal a little more- Chesapeake may be a good company to be employed by, but understand they may be acquired just about anytime by a seriouly larger company, and those jobs will go away, just like conoco or phillips.

I'm surprised at the number of people on here who can't read. Aubrey McClendon sold all of his personal stock in Chesapeake to cover margin calls on purchases he had made personally. This transaction has nothing to do with the ongoing profitablility of Chesapeake Energy. I also am surprised at the bitterness some of you have toward a very successful man - jealousy has an ugly face. As a former employee, I can tell you that no one works harder than he does and I'm sure that he will be back on top soon.

julie/OKC ... that is CLASSIC! XD
(Aubrey, if you're reading this, we send good mojo your way. Irrespective of what certain 'tards (who obviously have computers and loads of free time) think, you do a lot for this city and you *are* appreciated. Best to ya!)

Ironic how one oil man's stupid philosophy of cutting revenue while increasing expenses ends up costing another oil man his fortune. Who controls Chesapeake now? How much longer will McClendon have a job there?
The trickle down economic policies of the ultra right wing are turning in to a trickle up disaster for everyone.