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The Talbots Inc. Message Board

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  • fretfulporpentine@rocketmail.com fretfulporpentine Jun 21, 2012 5:31 PM Flag

    A lot of us

    A lot on me would snap them up becos me likes to make 0.15 in this market.

    Speaking of American CEO integrity, hie thee over to the Chesapeake Energy (CHK) board where thou can'st hear the sad tale of little Aubrey McClendon who yearned to become a billionaire using the shareholder's cash as collateral.

    << In May, Chesapeake said it would split the job of CEO and chairman. That decision came in the wake of a Reuters report saying McClendon, both chairman and CEO at the time, had arranged more than $1 billion in personal loans using his interest in company wells as collateral.

    McClendon's largest personal lender, EIG Global Energy Partners, is also a big source of funding for Chesapeake, a situation that could put the executive's interests at odds with shareholders, academics and analysts have said.

    Despite being rejected by about three quarters of the company's shareholders in a vote earlier this month, Chesapeake said it would keep V. Burns Hargis on the board to help complete a review of McClendon's financing arrangements.

    The news (of the appointments), which is welcome and positive, is tempered by the decision to keep Hargis, said Michael Garland, head of governance for New York City Comptroller John Liu.

    It's a bad decision justified by flawed logic, he said. They are keeping the director who chaired the audit committee that failed in its oversight and is now investigating what went wrong. >>

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