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  1. Default Re: SandRidge Energy News

    Quote Originally Posted by lasomeday View Post
    Is that a bad thing? They have people with investing experience that know when companies are doing shady things and spending money frivilously.
    Goldman Sachs were the extreme crooked guys during the financial crisis.

  2. #27
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    Default Re: SandRidge Energy News

    Quote Originally Posted by lasomeday View Post
    Is that a bad thing? They have people with investing experience that know when companies are doing shady things and spending money frivilously.
    Many of these people have never operated or built anything. They are paper experts. Their accusations may be true, but they should not be taken at face value either. most are not interested in growing companies and could care less about collateral damage.

  3. #28

    Default Re: SandRidge Energy News

    Quote Originally Posted by Bellaboo View Post
    Goldman Sachs were the extreme crooked guys during the financial crisis.
    Goldman Sachs and a cast of thousands. They are not alone. Most of the major banks were perpetrating investment fraud and screwing the country.

  4. Default Re: SandRidge Energy News

    Quote Originally Posted by soonerguru View Post
    Goldman Sachs and a cast of thousands. They are not alone. Most of the major banks were perpetrating investment fraud and screwing the country.
    ...and they are trying to make a quick buck to get some more. I find it interesting the Congress banned Goldman Sachs (and other banks) from performing the very business Dinakar Singh was in charge of at Goldman Sachs.

  5. #30

    Default Re: SandRidge Energy News

    If the they had the shares during the financial crisis the hedgefund might have a legitamate reason to replace directors but they have only had the shares since early 2012 seems to me they saw a good asset base with an undervalued company and see the a good return on investment if the company is sold this fund is focused on short term returns instead of long term quality. Hopefully SD has a majority of their shareholders in it the long haul

  6. #31

    Default Re: SandRidge Energy News

    Umm, no. Goldman Sachs knows little to nothing about wise investing to combat shady dealings and frivolous spending. Did you read any news during the financial crisis?

  7. #32

    Default Re: SandRidge Energy News

    I have and they are the only bank still standing! I don't know where you guys have been, but they hedged against the bad loans. You guys need to do your own research! They are the only bank whose stock didn't crash.

  8. #33

    Default Re: SandRidge Energy News

    Well it doesnt look like Tom Ward has learned much from Aubrey's ouster. Maybe Tom and Aubrey can team up again once hes gone from Sandridge.

    Exclusive: SandRidge gives CEO wide scope to cut his own land deals | Reuters

  9. #34

    Default Re: SandRidge Energy News

    Oh-oh.

    Brian Grow and Anna Driver from Reuters almost single-handedly brought down Aubrey McClendon through a series of scathing investigative reports. They were the ones that broke the news on his billion dollar loans, price collusion, etc.

    Now they seem to have turned their attention to Tom Ward. He seems to have followed a similar path as AKM. This will be more fuel for the fire of shareholder revolt that has started to brew at SD.

  10. #35

    Default Re: SandRidge Energy News

    I'm curious, do these two writers have personal vendettas against Oklahoma City? Why the crusade? Surely AKM and Tom Ward aren't the only two leaders out there doing these things.

  11. #36

    Default Re: SandRidge Energy News

    They cover other stories, they were just drawn into the Chesapeake thing and then the SandRidge story is very similar so it makes sense they would jump on that as well.

    The shareholders at both companies should be thankful that someone found out the details otherwise this would have continued on unabated. In the end, I think Chesapeake will be stronger and it remains to be seen about SD.

  12. #37

    Default Re: SandRidge Energy News

    Just nerve-wracking to watch two of our important employers undergo such scrutiny. But the management brought this upon themselves, so this could have all been easily avoided. Maybe that's the most troubling aspect.

  13. #38

    Default Re: SandRidge Energy News

    I'm not generally a big fan of the fourth estate, especially since anyone with a keyboard and Internet access considers himself a "journalist," but we are benefit when the press uncovers things like this.

  14. #39

    Default Re: SandRidge Energy News

    Quote Originally Posted by OnlyOne View Post
    I'm curious, do these two writers have personal vendettas against Oklahoma City? Why the crusade? Surely AKM and Tom Ward aren't the only two leaders out there doing these things.
    I'd say they probably are. Im not 100% sure but i doubt many other energy companies are allowing their CEOs to personally invest in wells, allow CEO owned LLCs to buy leases that in turn flip to the CEOs company, or have a well paid board decide to pay the CEO of a small and low performing company $70mil over 3 years.

    At first I blew off the new york shareholder groups claims about sandridge but after reading up on it it becomes pretty clear that Ward is behaving no different than Aubrey, maybe even worse. Hell, Ward made $280k last year from sandridge just by selling his own "personal" thunder tickets back to sandridge.

  15. #40

    Default Re: SandRidge Energy News

    Don't forget both CHK and SD allowed their CEO's to run personal energy hedge funds while helming their companies.

    Haven't heard of anyone else permitting that, either.

  16. #41

    Default Re: SandRidge Energy News

    Quote Originally Posted by OnlyOne View Post
    I'm curious, do these two writers have personal vendettas against Oklahoma City? Why the crusade? Surely AKM and Tom Ward aren't the only two leaders out there doing these things.

    When you’re flamboyant with big money you’re always going to make yourself an easier target for the liberal media to go after.
    This is even more true when there are energy companies involved

  17. #42

  18. #43

    Default Re: SandRidge Energy News

    Holy cats, that's scathing about Tom Ward.

    It's starting to look like he's done just about the same things as McClendon and might meet the same fate.

  19. #44

    Default Re: SandRidge Energy News

    My god, what is with these two? Couldn't they just have been pleased to be heading large, successful O&G companies without everything else...?

  20. #45

    Default Re: SandRidge Energy News

    Quote Originally Posted by ou48A View Post
    When you’re flamboyant with big money you’re always going to make yourself an easier target for the liberal media to go after.
    This is even more true when there are energy companies involved
    I think it's less about the "liberal media" and more about these 2 egomaniacs thinking they can do whatever they want with the shareholders money. They can go private and do whatever the hell they want with their cash. If they are a publicly traded company they will be scrutinized over and over. Especially when they pull boneheaded stupidity like this.

  21. #46

    Default Re: SandRidge Energy News

    Quote Originally Posted by ou48A View Post
    When you’re flamboyant with big money you’re always going to make yourself an easier target for the liberal media to go after.
    This is even more true when there are energy companies involved
    How about taking responsibility for actions & quit blaming others? I thought that's what conservatives believe in. You notice that you're not dealing with the issue, but using the phantom "liberal media" to not address it. Pathetic. If solid reporting is now what you call the "liberal media" then that's not good news.

    While AM and TW have done great things for OKC, they've been highly irresponosible to their shareholders.

  22. #47

    Default Re: SandRidge Energy News

    Quote Originally Posted by KilgoreTrout View Post
    How about taking responsibility for actions & quit blaming others? I thought that's what conservatives believe in. You notice that you're not dealing with the issue, but using the phantom "liberal media" to not address it. Pathetic. If solid reporting is now what you call the "liberal media" then that's not good news.

    While AM and TW have done great things for OKC, they've been highly irresponosible to their shareholders.

    By being flamboyant with big money they have been highly irresponsible to their shareholders.
    Anybody who is flamboyant with big money makes them self’s a bigger target.
    By being so flamboyant with big money anybody watching had to know it they would eventually become over extended and that it would end in a train wreck even if NG stayed fairly high.

    You would have to be hiding under a rock to not know that when big energy is flamboyant with big money and when it ends in a train wreck the liberal media is going to exploit it much more than they would if it was an industry that fits their idea of a good industry.
    The energy industry is often not covered responsibly by the liberal media…. but that doesn’t excuse any wrong doing and irresponsible behavior to shareholders. But a responsible media would have been on top of this flamboyant story years ago.
    But in OKC, to often, one hand often washes the other and a lot of problems fester.

  23. #48

    Default Re: SandRidge Energy News

    Those of us who have been paying attention have known for years about some of TW & AKM unconventional and flamboyant methods….. I first learned about them in year 2000 and as a result I stay away from being a shareholder of either company and I encourage others that I knew to stay away as well.
    The biggest reason why I stayed away was because they were flamboyant with big money.
    Flamboyant actions by CEO’s are always an indication to stay away.

  24. #49

    Default Re: SandRidge Energy News

    Quote Originally Posted by ou48A View Post
    The energy industry is often not covered responsibly by the liberal media…. but that doesn’t excuse any wrong doing and irresponsible behavior to shareholders. But a responsible media would have been on top of this flamboyant story years ago.
    But in OKC, to often, one hand often washes the other and a lot of problems fester.
    Surely you're not accusing the Oklahoman of being liberal. LOL

  25. #50

    Default Re: SandRidge Energy News

    Tom Ward Of SandRidge Energy: Another CEO That's Got To Go - Forbes

    Like another crosstown oil and gas exploration company based in Oklahoma City, Sandridge Energy (SD) is exhibiting the same shareholder inimical corporate governance practices. The good news is the abusive reign of Chesapeake Energy (CHK) king Aubrey McClendon last week came to an abrupt end. The bad news is that SandRidge founder and CEO Tom Ward (also a CHK co-founder) continues presiding unchecked as an autocrat.

    Like at CHK, Mr. Ward instituted his own analogue version of Aubrey’s Founders Well Participation Program (FWPP), the Sandridge Executive Well Participation Program (SEWPP). While Aubrey got to cherry pick and invest in a 2.5% interest in CHK wells, Mr. Ward felt even more generosity towards himself, upping his take to 3%. Like Aubrey in the past, Mr. Ward is obscenely overpaid. Mr. Ward presides over a sycophantic board that obsequiously bows to Caesars commands.

    Thanks in large part to the activism of Carl Icahn, Chesapeake, being free of Aubrey and most of his cabal of board members now has a chance to “right the ship” and create value for shareholders. Now come along hedge fund TPG-Axon and CEO Dinakar Singh. Mr. Singh’s hedge fund has acquired a 6.7% stake in the common shares of SandRidge and has undertaken a “consent solicitation” to replace the entire Sandridge board and the subsequent ouster of Mr. Ward.

    Sandridge laughably claims the TPG-Axon director slate lacks requisite energy experience. Each of the seven potential directors have held high positions at companies like BP, El Paso Eastern Pipeline, Oryx Energy or currently serve on boards of major NYSE companies such as Kraft Foods and AOL. The only commonality of current Sandridge board of directors is a blind obeisance to a CEO who compensates each one around $375,000 annually or for perspective, $80 to $90,000 more than is received by directors of integrated giant Exxon-Mobil, a company over 130 times its market capitalization. Put another way, in just a little more than every two days, Exxon takes in more in revenue than the entire market cap of Sandridge.

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