Throughout my career in Oklahoma's oil and gas industry, I've had the good fortune to develop friendships with some of our state's most visible figures, including my former business partner and good friend, Aubrey McClendon.
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A recent series in The Oklahoman focused on real estate and development projects that are currently up in the air or unfinished as the leadership at Chesapeake Energy Corp. changes. What wasn't mentioned was the immense positive impact that Aubrey's vision has had on Oklahoma City. Ignored was the work that's been accomplished to date. In fact, I'd say much of the good that has happened to Oklahoma City in the past 10 years has been due to Aubrey's influence.
Consider the community support that Aubrey engineered during his time at Chesapeake. In 2012, Chesapeake donated $32 million to charitable organizations and projects throughout its operating areas nationwide, supporting community development, health, education and social services. In Oklahoma alone, that number totaled $24 million. Companywide United Way contributions were $6.3 million in 2012, with $5.5 million raised for the United Way's Central Oklahoma chapter alone, by far the largest single contribution to the $22.2 million campaign.
Recently, Chesapeake provided a $1 million match to Regional Food Bank of Oklahoma, the largest matching gift challenge in the organization's history. That's not counting his personal contributions.
Not only is he an incredible supporter of our nonprofits, his efforts, both as CEO of Chesapeake and as a community leader, have stimulated the city's economy and brought Okahoma City and the state to a level of national attention. As a part owner of the Oklahoma City Thunder, Aubrey has given us an incredibly tal
I guess my first comment would be that apparently Tom has more time on his hands now since he is writing his own "Op Ed" about his buddy, pal Aubrey and selling his stock with some level of vigor.... Shareholders do care that the company they invest in wants to be a good corporate citizen, etc,etc, etc.....but they want that done normally after the company has made enough money to fund it's needs, and return value to the shareholder....I don't believe that was done by either of the individuals in the article (the guy writing it and the guy he was writing about)....But back to the point - I wish Tom would take the time he has on his hands and help the shareholders who he has royally screwed in not only the common stock but in all three royalty trusts that are in complete and utter declines....The article yesterday from SA which I would normally dismiss out of hand has made me scratch my head....If PV 10 values are really diminishing at this level in the first 20 months of a royalty trust (SDT) that arguably is in some of the best counties of the Miss to date you have to be concerned....Maybe I'm missing something - but if the Miss Trusts don't perform to expectations where does that leave us on the bigger play? If someone wants to go through that SDT 10K and finds something positive in there I would love to hear it.....all my opinions....
It's easy to be a philanthropist when you use shareholder funds. Give me your wallet and I'll buy a meal for all the bums on skid row. CEO's like Aubrey and Tom use company moneys to serve their own self interest. A true benefactor gives from their own wallet......not the wallet of others!
I do not think he still understands that this is not a private company and he can not just decide to
spend its money as if it was. I do not understand the entitlement mentality he has.
Good people who work hard for their money have put their hard earned money at the company that
he ran. he seems to not understand that concept.
It is not ok to spend other people's money not as if it was yours. that shows lack of respect and
integrity. That is my bottom line for the entire saga and that is a shame.
When the company gets to make more money than it knows what to do with, the shareholders might
authorize the ceo to give away some money to good causes. It is not his money to spend it on jets,
charities etc. and he should have never been allowed to compete for lands with sandridge.
He can say nice words from here to eternity, but actions speak volumes and his action speak
corruption to the core.
Again, it is up to god to judge human beings and only his matters, but I have seen enough to make
my own mind.