re: CHK layoffs (Posted on 9/11/13 at 3:53 pm to TH03)
quote: seems like they desperately wanted their name to be one of the firsts in all of these unconventional plays and definitely over-extended because of it.
I've always heard that Aubrey kept the company over-extended in that way to make us unattractive for a buyout. I don't know of any truth is behind that or if that's just revisionist history.
I don't think they're liquidating for a sell off. I worked on the rigs for Kerr-McGee when anadarko bought them out and the moves were very similar. It seems we are aligning our company hierarchy very similar to Anadarkos, and we are still heavy in the mid-level management area and really heavy in some employee areas.
Those areas will probably be cut in the next month. Still some dark times here to go through.