Ah, you're from the Seattle area as well, then? I'm not a Sonics (or basketball) fan, but yes, that was a dick move.
Chesapeake did another dick move, essentially buying up frack rights and bundling them into frack futures, then selling them off. When gas was selling for a gazillion a therm (not barrel; we're talking nat gas with most of the Chesapeake holdings, I beleive) it made sense. Once the glut forced down the price, investors started hunting him for his stupid head.
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Date: 10/7/13 19:20 (UTC)Chesapeake did another dick move, essentially buying up frack rights and bundling them into frack futures, then selling them off. When gas was selling for a gazillion a therm (not barrel; we're talking nat gas with most of the Chesapeake holdings, I beleive) it made sense. Once the glut forced down the price, investors started hunting him for his stupid head.