{"id":3644,"date":"2009-06-15T03:01:00","date_gmt":"2009-06-15T03:01:00","guid":{"rendered":"https:\/\/tomfarandasfolly.com\/?p=3644"},"modified":"2025-09-30T00:12:14","modified_gmt":"2025-09-30T00:12:14","slug":"nice-work-if-you-can-get-it-company-stock-drops-60-in-value-ceo-gets-paid-112-million","status":"publish","type":"post","link":"https:\/\/tomfarandasfolly.com\/?p=3644","title":{"rendered":"Nice work if you can get it: Company stock drops 60% in value, CEO gets paid $112 million"},"content":{"rendered":"<p>We should all have a gig like this &#8230;<\/p>\n<p><a href=\"http:\/\/online.wsj.com\/article\/SB124485512743611699.html\"><font color=\"#800080\"><strong>Chesapeake Energy CEO Defends His Stewardship &#8211; WSJ.com<\/strong><\/font><\/a><\/p>\n<blockquote dir=\"ltr\">\n<p>Mr. McClendon on Friday said the drop in Chesapeake&#39;s share price was because of the declining economy and the falling price of natural gas, not his leadership. &#8230;<\/p>\n<p>&quot;Gas prices, as they pulled us down, will push us up. There&#39;s no question about it,&quot; Mr. McClendon said.<\/p>\n<p>Much of the shareholder criticism has focused on the board, particularly its decision to grant Mr. McClendon a one-time $75 million bonus at the end of last year. Critics have called the bonus a bailout to help Mr. McClendon recover after he was forced to sell nearly all his Chesapeake shares because of a margin call last fall.<\/p>\n<p>Critics also question whether it was appropriate for Chesapeake to pay $3.5 million to sponsor a basketball team part-owned by Mr. McClendon, buy $177,150 in food from a restaurant Mr. McClendon half-owns and spend $12.1 million for maps and artwork from Mr. McClendon&#39;s personal collection.<\/p>\n<p>Several pension funds have sued Chesapeake, demanding Mr. McClendon return the bonus.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>We should all have a gig like this &#8230; Chesapeake Energy CEO Defends His Stewardship &#8211; WSJ.com Mr. McClendon on Friday said the drop in Chesapeake&#39;s share price was because of the declining economy and the falling price of natural gas, not his leadership. &#8230; &quot;Gas prices, as they pulled us down, will push us [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3644","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/3644","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3644"}],"version-history":[{"count":1,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/3644\/revisions"}],"predecessor-version":[{"id":9130,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=\/wp\/v2\/posts\/3644\/revisions\/9130"}],"wp:attachment":[{"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3644"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3644"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tomfarandasfolly.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3644"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}