Friday, October 10, 2008

Aubrey McClendon margined out of CHK

OKLAHOMA CITY--(BUSINESS WIRE)--Chesapeake Energy Corporation (NYSE:CHK - News) today disclosed that its Chief Executive Officer, Aubrey K. McClendon, involuntarily sold substantially all of his shares of Chesapeake common stock over the past three days in order to meet margin loan calls.

Management Comments

Mr. McClendon commented, “I am very disappointed to have been required to sell substantially all of my shares of Chesapeake. These involuntary and unexpected sales were precipitated by the extraordinary circumstances of the worldwide financial crisis. In no way do these sales reflect my view of the company’s financial position or my view of Chesapeake’s future performance potential. I have been the company’s largest individual shareholder for the past three years and frequently purchased additional shares of stock on margin as an expression of my complete confidence in the value of the company’s strategy and assets. My confidence in Chesapeake remains undiminished, and I look forward to rebuilding my ownership position in the company in the months and years ahead.
http://biz.yahoo.com/bw/081010/20081010005735.html?.v=1

The rumours of his selling were true. Here's the story, and how Wall Street got his shares.
http://aaronandmoses.blogspot.com/2008/10/conspiracy-theory.html

Amazing.

8 comments:

Anonymous said...

Greetings from Seattle, Aubrey, you lying SOS.

This is just the beginning for you in your decline to hell.

Anonymous said...

Greetings from Germany!

You know, you hurt so many people all over this planet, this is just some kind of payback. I really hope, you never ever have a lucky moment again in your life!

Anonymous said...

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I would appreciate if a staff member here at aaronandmoses.blogspot.com could post it.

Thanks,
Peter

Anonymous said...

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I would appreciate if a staff member here at aaronandmoses.blogspot.com could post it.

Thanks,
Oliver

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