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Chesapeake Energy’s CEO Bluff

October 7th, 2008

Ever lost over $20 million dollars per month? Chesapeake Energy’s CEO Aubrey McClendon has; for four months in a row. Apparently he kept buying further in as the stock continued a decline. In whole McClendon spent over $150 million purchasing a little over 3 million shares starting in the middle of July. Since July 15th the stock has had about a 65% slump. Needless to say that McClendon gambled away about $90 million dollars in the process. Their debt load is now about twice their market cap, and the interesting thing is that the message boards are starting to use words like “Buyout Candidate”. 

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