Pensions helped EIG loan cash to Chesapeake, McClendon

Comments (2)
breezinthru wrote:

It seems to me that giving the CEO a 2.5% interest in all the wells drilled in a year is unreasonable compensation when the company is publicly held. If those wells produce for even a decade, that is a hell of a lot of compensation.

When one considers that this is just a perk, not the CEO’s entire compensation, that is quite simply over the top.

Chesapeake would return much more to investors if compensation packages were more reasonable. It seems that Chesapeake’s board believes that it has a fiduciary duty to itself and its officers rather than to its stockholders.

Apr 23, 2012 3:15pm EDT  --  Report as abuse
AlkalineState wrote:

Guy already gets a hundred million dollar salary and bonus package each year. If he wants a stake in some oil wells, he should be spending some of his own money on it, and not be taking out the bizarre equivalent of a home equity loan from his own company.

What does he do, spend his whole salary on the stuffed animal crane game in the mall? Hey McClendon, drop another 50 million on it this month and you should be able to get the angry bird AND the spongebob. If not sucessful, just keep trying.

Good old Wall Street talent. Never over-estimate it.

Apr 23, 2012 4:43pm EDT  --  Report as abuse
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