As the veteran Boston Celtics defy gravity leading the Miami Heat three games to two for the National Basketball Association Eastern Conference title, the Western Conference Champion Oklahoma City Thunder wait for their first final since the majority owner, Clayton Bennett paid for the team’s move from Seattle, where the franchise won a title in 1979 as Forbes reports the league still recognizes the Thunder franchise’s Seattle statistics until Seattle acquires their own team. While the colorfully fascinating sideshow of professional sports ownership seems the perfect backdrop for the continuing trials, not on but in court, of the 19.2% minority-stake owner, Aubrey McClendon, of the obviously scrappy Oklahoma City Thunder that went through both former champion Los Angeles Lakers and San Antonio Spurs to play for the upcoming championship.
Last August 15th, Reuters first reported huge amounts of stock trading that opened up further investigations that have brought down the former chairman of, natural gas company, Chesapeake Energy Corporation. The publication, Power Play, billed as - Staying up on Oklahoma’s booming energy sector, even headlined: Chesapeake CEO Aubrey McClendon Leveraged Thunder Stake For Loans. McClendon’s 19.2 stake in the Thunder is worth nearly $67 million, Forbes reported. The crux being in sums this large, hardly ever is any amount all your own as in this case the law backs Chesapeake’s shareholders’ wish to limit what the co-founder McClendon felt entitled to manipulate. As usual for the courts to solve.
McClendon’s travails are sad coming at this time as the Thunder’s success is so obviously rooted in the efforts of Oklahoma City based businesses. As Reuters seems to confess on McClendon’s behalf, he was competing on the big stage of high finance and liked to win. In a sense really his crime was just wanting to win so bad. Friends saying he always just seemed to want – more. The game required lavish rewards for friendly members of the board as the prerequisite par for the successful business course. McClendon’s only sin apparently going too far. Receiving one billion in personal loans on company wells the board was never told about. Meaning he probably just didn’t replace the money in time to not get caught. He’s also in trouble for running a hedge fund for six years that could have competed with his own company. The stakes so large he seems to have lost his grip moving the separate financial piles around.
Reuters cites critics seeing the courts progress. Joseph Allman, oil and gas industry analyst at JPMorgan in New York, said, “The” new “board will push changes. That is, less spending and additional asset sales.” At the very least, the board restructuring means Chief Executive Aubrey McClendon will be monitored much more closely. “McClendon can still propose anything he wants, but now it’s got to be approved,” said Mike Breard, analyst with Hodges Capital Management in Dallas. “This ties his hands.”
As noble as the financial corrections seem, it’s doubtful Aubrey McClendon originally built Oklahoma City’s Chesapeake Energy with his hands tied. One can wonder where he might be now if only he’d retained a few more lawyers on his behalf in the first place before following the yellow brick road to overwhelming financial burden. I hope he enjoys the game(s).
6/7/2012
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The Labelled Lavishly Leveraged, 19.2% Oklahoma City Thunder Minority-Stake Owner, Aubrey McClendon
6/7/2012 concluded: As noble as the financial corrections seem, it’s doubtful Aubrey McClendon originally built Oklahoma City’s Chesapeake Energy with his hands tied. One can wonder where he might be now if only he’d retained a few more lawyers on his behalf in the first place before following the yellow brick road to overwhelming financial burden. I hope he enjoys the game(s).
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| 2016 |
June 13 - 20, 2016
Aubrey. In the scheme of things nothing Mr. McClendon (July 14, 1959 - March 2, 2016) did was out of the norm. On every level of commerce? Profit's in the skim. Not the building. To a degree.
Pioneer in the employment of fracking.
The intense pressure to keep up must have been exhaustingly exhaustive. As compulsively driven as the drive that propelled athletes to steroid use, maybe? Human.
Having done so well with money. He was an achiever. Certainly Mr. McClendon expected that method to serve him all along over the long-term. He didn't kill himself over a mere indictment. A legal business speed bump. He'd have money. It was power he lost that could never be the same.
How Smart Is Money's Health Channeled Against Our Welfares? Is it even real? All about who affords what?
And Ignorance Conveniently Exploited.
Dear Conservatives, You Can Go Green Again
Is It a Crime to be Poor?
by Nicholas Kristof in The New York Times +
Yes a change of pace would have been to just satirize money in sports. How hobbies absorb and sublimate our darker competitive motivations, etc. But ... , and I was born in Orlando.
Violence and revenge blamed on, or supposedly excused or condoned by, God when Allah could hardly be expected of such foolishness is unethical. Period.
We're not supposed to come unglued. Cultural boundaries shouldn't have gotten worse. The mental walls carved for centuries shouldn't have remained just mere impenetrable institutions that can't expand or breathe. We aren't intended to remain so judge-mentally small minded. Provocation never ends because revenge never does.
This kid. No. At 29 people aren't kids. But it wasn't that long ago that he'd passed through. There were layers of his personality that explain why his imbalance reached violent critical mass. But bottom line? Another generation was raised on this idea vengeance serves a purpose when there's none at all. Vanity ruling through selfishness and greed built this uncompromisable nonsense we can't separate from. Holy War is no ordinary oxymoron. It's also wrong.
1. President Obama's refusal to use the words "radical Islam," is a talking point in the public discourse. The term is similar to referring to the entire re-energized Middle East offensive as instigated by hysterical Christians. When it's the people those views alienate that need to be reached.
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