In case you’ve never heard of Chesapeake Energy Corporation, it is America’s second-largest natural gas producer. It also produces oil —lots of it. Aubrey K. McClendon is the company’s Chief Executive, who, when referring to the purchase of mineral leases from private AMERICAN mineral owners has been quoted as saying:
I don’t like to buy acreage for fair price, I like to go in and put a play together where we put our army of 5,000 landmen to work, and we are buying it lease by lease for a very inefficient cost average to the rest of the industry to try and replicate and we make it a transaction where there is not a public market —it’s us and the landowner and we’re gonna most generally going to get the benefit of that side of the transaction, so think again —every time we move we are buying acreage worth 5 to 10 times what we pay.
It seems as if Mr. McClendon does not have the same regard for his fellow Americans as he does for himself in this very long, but very telling new article titled, “Chesapeake CEO is also the Sultan of Oklahoma City —McClendon’s lavish, mortgage[d] lifestyle has caught the attention of shareholders, SEC.” YOU CAN READ THE ENTIRE, DISGUSTING REPORT HERE.
Typical corporate conduct?
Has gluttony no shame?
Change comes from within —we find a better way as we learn to live wisely (and the above example ain’t it).