Chesapeake Business Practices

[jedicurt]

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.

[chuck5815]

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

[mugofbeer]

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.

[gopokes88]

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

[RedDollar]

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 .

[gopokes88]

Expect a bankruptcy filing soon.

[Anonymous.]

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.

[gopokes88]

https://www.reuters.com/article/us-c...-idUSKBN22B31M

[securityinfo]

I bid 400 Quatloos

[securityinfo]

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

[Edmond Hausfrau]

@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?

[Pete]

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.

[gopokes88]

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.

[Teo9969]

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?

[gopokes88]

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

[Mott]

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!

[gopokes88]

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

[Edmond Hausfrau]

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

Is bankruptcy still on the table?

[gopokes88]

Is bankruptcy still on the table?

Yep. Happening any minute now. Wild.

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

[The Shadow]

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.

[chuck5815]

Do we short the pants off of this one tomorrow?

[mugofbeer]

What's Inhofe doing?

[Edmond Hausfrau]

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.

[gopokes88]

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

[liirogue]

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

There was a massive short squeeze and margin call on shorts.