Thread regarding Chesapeake Energy Corp. layoffs

The Story Of NERO Comes to Mind

In July of 64 A.D., a great fire ravaged Rome for six days, destroying 70 percent of the city and leaving half its population homeless. According to a well-known expression, Rome’s emperor at the time, the decadent and unpopular Nero, “fiddled while Rome burned.” The expression has a double meaning: Not only did Nero play music while his people suffered, but he was an ineffectual leader in a time of crisis.

The Moral: With fires blazing all around us, it's amazing how slow this Company has reacted to balance it's spending with it's cash flow. Amazing isn't really the word; perhaps gross negligence is more apt. Regardless, the Company teeters towards bankruptcy because of it.

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| 2105 views | | 5 replies (last February 14, 2016) | Reply
Post ID: @OP+FVa6jS8

5 replies (most recent on top)

Sounds familiar. Unfortunately, If the shoes fit, we've got many management Nero's to wear them.

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Post ID: @1vzs+FVa6jS8

So why are you posting the exact same thing to multiple company boards on this site? Thinking you sound brilliant? Think again.

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Post ID: @1rtr+FVa6jS8

Doug needs to step up and actually go to the field offices unannounced . Unannounced being the key to this ! He needs to step up and see first hand all the excess spending going on daily .

Instead of having Operations Managers doing one thing and telling him another make them be accountable for every penny spent . Instead of laying off the older more experienced employees and keeping the young 20 year olds in the field claiming they cost less ( looking at payroll ) , keep the experienced employees on as you will have less oh shit spills in the field .

The old saying you get what you pay for hold true in times like this ! One good experienced lease operator can cover two to three times what the young kiddos can !

Stop with the lies to the employees ! Doug needs a lesson on listening ! He HAS been told countless times , but refuses to go speak with actual employees who may have knowledge that could be helpful in the long run . Doug needs to get out of his high dollar suits for a day and actually go speak to the " worker bees " .

CHK can not control the oil market or any of the declining prices , they however can cut the erroneous spending by CORRECTLY analyzing their workforce and get rid of the trash in upper management and restructure from with in ! A true leader would not keep overpaid under qualified people ! Wake up , when 2+2dont add up to 4 there is a problem ! At this point I beleive anything Doug Lawler does is to little , to late ! He is the problem , no more excuses Mr. Lawler !

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Post ID: @hbf+FVa6jS8

Does anyone doubt there are far more operations personnel than necessary to support the drilling program; and overhead costs haven't been right sized to the current environment either? Time to get serious if the Company is to be saved. That is my point.

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Post ID: @zbr+FVa6jS8

Well, you seem to know the right thing to do. Please enlighten us! How do we, for instance, reduce our production while still meeting our midstream volume commitments? Whether we put product through the pipe or not, we still pay. So it seems reasonable to me that we at least put some through on the capacity so that we can get a little cash to offset our obligation versus none at all. But obviously that's wrong. Please tell us what we should do instead.

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Post ID: @brj+FVa6jS8

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