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  1. #2301

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Pete View Post
    CHK has had about 175 layoffs in the last two days.

    Around a hundred in the field and 75 at corporate in OKC.
    i have heard that several (not sure how many, but know of at least a few) of the corporate positions where layoffs but then rehire as private contractors for the same role.

  2. #2302

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by jedicurt View Post
    i have heard that several (not sure how many, but know of at least a few) of the corporate positions where layoffs but then rehire as private contractors for the same role.
    I wonder how they sneak that type of stuff past the DOL. Seems like a very easy case if the government decided to pursue misclassification

  3. #2303

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by jedicurt View Post
    i have heard that several (not sure how many, but know of at least a few) of the corporate positions where layoffs but then rehire as private contractors for the same role.
    That is a common practice.

  4. #2304

    Default Re: Chesapeake Business Practices

    Adopted a poison pill. Protects them from being bought and losing the ability to carry their tax losses forward. Whiting did the same then filed bankruptcy a few days later. Any day now CHK will file.

    But hedges or something.

    http://investors.chk.com/2020-04-23-...erating-Losses

  5. #2305

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Adopted a poison pill. Protects them from being bought and losing the ability to carry their tax losses forward. Whiting did the same then filed bankruptcy a few days later. Any day now CHK will file.

    But hedges or something.

    http://investors.chk.com/2020-04-23-...erating-Losses
    I'm havin a bloody mary tonight.

    Then I might have an Old Fashioned ..... or something .

  6. #2306

    Default Re: Chesapeake Business Practices

    Expect a bankruptcy filing soon.

  7. #2307

    Default Re: Chesapeake Business Practices

    Yep news hit 10 minutes before you posted. Stock is diving to sub-$20, post-split.

    And just like that a new wave of bagholders were born.

  8. #2308

    Default Re: Chesapeake Business Practices


  9. #2309

    Default Re: Chesapeake Business Practices

    I bid 400 Quatloos

  10. #2310

    Default Re: Chesapeake Business Practices

    @gopokes88 I'll give it to ya... you do seem to be able to call the oil biz

  11. #2311

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by securityinfo View Post
    @gopokes88 I'll give it to ya... you do seem to be able to call the oil biz
    Yes. I agree. I'm trying to see the upside to this. The campus really is attractive and I hope an institution of higher education considers buying it, maybe a law school or an MBA program? Maybe a prep boarding school?

  12. #2312

    Default Re: Chesapeake Business Practices

    They have been trying to lease out one of the buildings along 63rd for quite a while now and to my knowledge, without success.

    They've also closed that rooftop dining facility.

    They could easily share those buildings and facilities with other businesses, and I'm sure that's what will happen. Even if they survive, they could consolidate further and then lease out the excess structures. It's really no different than any other office park.

  13. #2313

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Edmond Hausfrau View Post
    Yes. I agree. I'm trying to see the upside to this. The campus really is attractive and I hope an institution of higher education considers buying it, maybe a law school or an MBA program? Maybe a prep boarding school?
    The upside is CHK emerges from this with 0 debt. They’ll never have the headcount they once did but we’ll have a fiscally strong Fortune 500 company in okc. CHK still does $10,000,000,000 (well pre crash) in annual revenue. They are far from a small company. They won’t be broken up.

  14. Default Re: Chesapeake Business Practices

    How much money did Chesapeake funnel into OKC all these years with dollars invested by individuals/entities outside of Oklahoma who are left holding a bag of poo?

  15. #2315

    Default Re: Chesapeake Business Practices

    Bankruptcy probably next week now that the board has paid all the execs huge bonus’. Same playbook Whiting followed.

    https://twitter.com/javierblas/statu...186576384?s=21

  16. #2316
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    Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Bankruptcy probably next week now that the board has paid all the execs huge bonus’. Same playbook Whiting followed.

    https://twitter.com/javierblas/statu...186576384?s=21
    Would make the robber barons proud!

  17. #2317

    Default Re: Chesapeake Business Practices

    Lol $CHK stock is up 200% today because....reasons

  18. #2318

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Lol $CHK stock is up 200% today because....reasons
    Is bankruptcy still on the table?

  19. #2319

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Edmond Hausfrau View Post
    Is bankruptcy still on the table?
    Yep. Happening any minute now. Wild.

    https://twitter.com/GabeHoff/status/...952785920?s=20

  20. #2320

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by Pete View Post
    They have been trying to lease out one of the buildings along 63rd for quite a while now and to my knowledge, without success.

    They've also closed that rooftop dining facility.

    They could easily share those buildings and facilities with other businesses, and I'm sure that's what will happen. Even if they survive, they could consolidate further and then lease out the excess structures. It's really no different than any other office park.
    The Red Brick buildings are plumbed for multi-family.

    One of the smarter things Aubrey did.

  21. #2321

    Default Re: Chesapeake Business Practices

    Do we short the pants off of this one tomorrow?

  22. #2322

    Default Re: Chesapeake Business Practices

    What's Inhofe doing?

  23. #2323

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by chuck5815 View Post
    Do we short the pants off of this one tomorrow?
    Pump and dump is real. Extended trading will kill anyone who doesn't know exactly what they are doing.
    I'm including myself as an "anyone".
    I feel bad for the CHK employees who banked on stock options benefits to fund their retirement.

  24. #2324

    Default Re: Chesapeake Business Practices

    Halted this morning pending news which is likely Chap 11 plans.

  25. #2325

    Default Re: Chesapeake Business Practices

    Quote Originally Posted by gopokes88 View Post
    Lol $CHK stock is up 200% today because....reasons
    There was a massive short squeeze and margin call on shorts.

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