Archive for October, 2008

Sweet Revenge – Aubrey McClendon loses $1.8 billion!

Aubrey McClendon was one of the partners in the group of rich energy thugs who stole the Seattle Supersonics and moved them to Oklahoma City.

People in Seattle were also incensed when they learned that he was a leading benefactor to the Swift Boat Campaign which is credited for swinging the 2004 Presidential election to a fellow wildcatter, George W. Bush. Not only that, but he was active in anti-gay marriage causes, which did not endear him to progressive citizens of Seattle either.

Well now comes the news from StreetInsider.com and the Wall Street Journal that McClendon was a big loser when he had to cover some margin calls on his own company’s stock, Chesapeake Gas Company. His total loss was $1.8 billion!

As the Insider asks, why did Aubrey McClendon have to buy stock in his own company on margin? Because he was GREEDY!

Good riddance, Mr. McClendon. I hope you can live on the mere $400 million you have left.