That word alone has caused much brainstorming to me lately. With the current situation of Chesapeake, Icahn, drilling permits and $2 natural gas, I put on my landowners business cap and spoke with the great Emperor Shrimp and my cat Jasper who is now on my lap when I drive this computer.
I studied corporate raiders when I was in the corporate world after college in the defense industry, I sharpened my business mind preparing to enter the business world back then in the eighties. For the past 28 years my business has been in distress property, so how do I apply my experience with what is happening today with CHK, the largest leaseholder in the Utica shale?
Here goes, Chk is now officially in distress, what is worse than being broke? When others know you are broke. CHK is now currently unofficially in chapter 11 bankruptcy IMO, Icahn can be sort of a "debtor in possession manager." The key to me in success of the "reorganization business" for CHK is first, reorganizing debt with creditor fatigue. Now is the time for CHK to negotiate and streamline their wild and crazy debt. They maybe able to use "the value of debt" to do this because of the current value of NG. Selling off assets is tricky because they maybe the "hidden asset" the Icahn the raider is looking for, the cash reservoir.
exactly my point, speculation drove investment in CHK, a very small percentage of the acreage in the Utica have tangible proof of value. In a cram down situation, only proven value is accepted in a financial war. Thus, any debt above real time value may become unsecured. When you say "they know the value of all current assets, you are in the minors says Jasper.
BTW, you may disparage me, but never again bring Jasper's name into a disrespectful statement.
People, here is someone who does not belong on this site and Keith should teach him a lesson by throwing him out so he could go back to his high school blogsite. This is a serious board and no room for trolls who I really believe isn' t even a landowner, probably another entitled taker who needs attention.
Yo Ron -- too much heat? From Jim Shoos ? really?
thank you. maybe Jasper should get a special treat
Easy, Jim. Ron is a good guy. You don't have to agree with him, or even understand him. Sometimes I certainly don't! But if nothing else, Ron wins the "Major Award" for getting people to think, and that can never be a bad thing.
Jim you are full blown DORK . Find a site that is for DORKS like your self that have no land to lease .
Ron is a good dude that brings a lot to this forum unlike you .
I'm with you Ron .
WoW Jim ,,, forget your meds today there fella .
Sorry that I didn't check with you on my choice of words jimmy .
You are right about this forum but there sure is a pattern with people like you " non- landowners " that can't resist every chance to take a jab at other's , Hum I guess that's that No Bonus Syndrome .
Oh on that ownership comment I never claimed ownership and am greatfull for Keith and all of his work !!!
You billy are not going to getta way with trashing people who are really making difference with your insulting Ron's manhood "grow a pair "and the grow up thing when you don't even have a dog in the fight .
The balls in your court , we can stop now and quit the assaults .
That is my choice .