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  1. #126

    Default Re: SandRidge Energy News

    Quote Originally Posted by Rover View Post
    Yes because that area of downtown is so much worse now than it was or has been for two or three decades.
    I see your point, but I think you would agree that if SD leaves a gaping hole where its amenities building is supposed to go that is not an improvement.

  2. Default Re: SandRidge Energy News

    Quote Originally Posted by soonerguru View Post
    I see your point, but I think you would agree that if SD leaves a gaping hole where its amenities building is supposed to go that is not an improvement.
    Not to mention the city park Sandridge committed to maintaining.

  3. Default Re: SandRidge Energy News

    One thing i've noticed, at least last night, SandRidge have not put up their 'Go Thunder' banners on the top of their building. Not sure if this is weather or wind related or whatever related. Usually by the start of the playoffs, the banners are up.

  4. #129

    Default Re: SandRidge Energy News

    Quote Originally Posted by Bellaboo View Post
    One thing i've noticed, at least last night, SandRidge have not put up their 'Go Thunder' banners on the top of their building. Not sure if this is weather or wind related or whatever related. Usually by the start of the playoffs, the banners are up.
    They were the last ones to go up last year. We still have two full days of sunlight for them to go up by Tomorrow evening

  5. #130

    Default Re: SandRidge Energy News

    No "Let's Go Thunder" banner a top of Sandridge Tower this year??? This is not a good sign....

  6. #131

    Default Re: SandRidge Energy News

    The witching hour is drawing near for Tom Ward.

    When the four new board members were put in place back in March, they also said they would be conducting a review to determine if Ward's various dealings with the company were appropriate. That review is due by June 15th.

    Also, they said they would be making a decision about keeping Ward on as CEO by the shareholders meeting, which is scheduled for July 1st.


    It seems to be a foregone conclusion that Ward will be shown the door one way or another, and this is all going to come to a head in the next few weeks.


    After that, things start to get a little scary because the future of the company is uncertain. We know they have already shifted their plans away from occupying the Braniff and Amenities buildings, but they obviously still have lots of highly-paid staff in the tower.

  7. #132

    Default Re: SandRidge Energy News

    Quote Originally Posted by Pete View Post
    The witching hour is drawing near for Tom Ward.

    When the four new board members were put in place back in March, they also said they would be conducting a review to determine if Ward's various dealings with the company were appropriate. That review is due by June 15th.

    Also, they said they would be making a decision about keeping Ward on as CEO by the shareholders meeting, which is scheduled for July 1st.


    It seems to be a foregone conclusion that Ward will be shown the door one way or another, and this is all going to come to a head in the next few weeks.


    After that, things start to get a little scary because the future of the company is uncertain. We know they have already shifted their plans away from occupying the Braniff and Amenities buildings, but they obviously still have lots of highly-paid staff in the tower.
    SandRidge Energy Board Ousts Tom Ward
    SandRidge Energy Board Ousts Founder Tom Ward, Names CFO James Bennett as CEO and President

  8. #133

    Default Re: SandRidge Energy News

    Well, that's no real surprise. Wonder when they'll put themselves up for sale?

  9. #134

    Default Re: SandRidge Energy News

    Reading more, the investigation into his dealings was determined not to be a reason for termination.

    It was to seek a new direction.

  10. #135

    Default Re: SandRidge Energy News

    http://newsok.com/tom-ward-out-as-sa...rticle/3854307
    Their site has been having issues off and on all day, so link may be inactive right now...

  11. Default Re: SandRidge Energy News

    Quote Originally Posted by OnlyOne View Post
    Well, that's no real surprise. Wonder when they'll put themselves up for sale?
    Just like what happened to CHK when Aubrey left...right?

  12. #137

    Default Re: SandRidge Energy News

    $53.5 million severance...what a joke. The company's performance has been awful under his leadership, not to mention the conflicts of interest and suspect family dealings, and he gets this huge golden parachute? Absurd.

  13. #138

    Default Re: SandRidge Energy News

    Quote Originally Posted by PhiAlpha View Post
    Just like what happened to CHK when Aubrey left...right?
    What?

  14. #139

    Default Re: SandRidge Energy News

    Quote Originally Posted by onthestrip View Post
    $53.5 million severance...what a joke. The company's performance has been awful under his leadership, not to mention the conflicts of interest and suspect family dealings, and he gets this huge golden parachute? Absurd.
    That does seem outrageous.

  15. #140

    Default Re: SandRidge Energy News

    WSJ reporting $90 million:

    "SandRidge Energy Inc. founder Tom Ward was ousted as the oil and gas producer's chief executive and chairman, and will take one of the biggest severance packages seen in the energy industry, about $90 million, the company said on Wednesday."

  16. #141

    Default Re: SandRidge Energy News

    According to the article in the Oklahoman the severance package is actually valued at $90.9m. The good news is that the market seems to be reacting favorably to this news as the stock is up today (2.21%). And that is on a day the Dow is down 206 points

  17. Default Re: SandRidge Energy News

    Quote Originally Posted by OnlyOne View Post
    What?
    I was being facetious... By agreeing to fire Tom Ward, the original board members still control the board at Sandridge. Probably a better chance that they sell now, but its by no means a given. They still have a pretty good asset base so a change in leadership/strategy may very well bring them out of this. I guess we'll see.

  18. #143

    Default Re: SandRidge Energy News

    It didn't take long to find out about Aubrey's future plans, what will Ward's be? Anyone really think they join forces?

  19. Default Re: SandRidge Energy News

    Don't think they'll join forces but no reason not to believe he won't start another company or go buy one.

  20. #145

    Default Re: SandRidge Energy News

    Quote Originally Posted by dankrutka View Post
    It didn't take long to find out about Aubrey's future plans, what will Ward's be? Anyone really think they join forces?
    Tom and sons amassed about 500,000 acres in the Mississippi play, which was in the same area sandridge was buying leases (unethical much?). They'll probably be busy with that.

  21. #146

    Default Re: SandRidge Energy News

    Quote Originally Posted by Pete View Post
    Reading more, the investigation into his dealings was determined not to be a reason for termination.

    It was to seek a new direction.
    That will be the nice PR patina they put on it. But what do you expect them to say: "Well we investigated this guy and he's a crook." Then there would be lawsuits and strife.

    As it is, Tom Ward is given a nice golden parachute and won't be lawyering up.

  22. #147

    Default Re: SandRidge Energy News

    Quote Originally Posted by onthestrip View Post
    $53.5 million severance...what a joke. The company's performance has been awful under his leadership, not to mention the conflicts of interest and suspect family dealings, and he gets this huge golden parachute? Absurd.
    Hey Bucko, this is capitalism. He was worth every penny (cough, cough).

  23. #148

    Default Re: SandRidge Energy News

    Quote Originally Posted by OKCTalker View Post
    WSJ reporting $90 million:

    "SandRidge Energy Inc. founder Tom Ward was ousted as the oil and gas producer's chief executive and chairman, and will take one of the biggest severance packages seen in the energy industry, about $90 million, the company said on Wednesday."
    Obscene. I can't think of a better word.

    Think on the math:
    If I made $100,000 a year it would take me ten years to make a million dollars from my paycheck.
    Fifty years to make five million.
    One hundred years to make ten million.
    Three hundred and sixty years to make thirty six million dollars.
    900 years at a hundred grand a year to make $90,000,000.00
    Going backward in time that would go back to the year 1113, or 2913 in the future.

    Too many people get used to these big numbers and forget what we're really talking about. This deal with Ward just gives excessive a whole new meaning.

  24. #149

    Default Re: SandRidge Energy News

    Quote Originally Posted by zookeeper View Post
    Obscene. I can't think of a better word.

    Think on the math:
    If I made $100,000 a year it would take me ten years to make a million dollars from my paycheck.
    Fifty years to make five million.
    One hundred years to make ten million.
    Three hundred and sixty years to make thirty six million dollars.
    900 years at a hundred grand a year to make $90,000,000.00
    Going backward in time that would go back to the year 1113, or 2913 in the future.

    Too many people get used to these big numbers and forget what we're really talking about. This deal with Ward just gives excessive a whole new meaning.
    Oh, but he brought such "shareholder value." He was worth every penny, don't you know?

  25. #150

    Default Re: SandRidge Energy News

    Maybe he'll use this to build a tower on the property he owns on Broadway & 4th??

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