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Posted on 3/2/16 at 2:43 pm to ForeverLSU02
He probably did this so his family could collect a massive life insurance policy and be free of the guilt of a conviction. This is suspicious but it will always be looked at as a possible suicide and not a confirmation which he had to have known.
Posted on 3/2/16 at 3:02 pm to tes fou
That's unfortunate. Dudes story was pretty amazing and he had some big balls when it came to risk taking.
Posted on 3/2/16 at 3:03 pm to danilo
quote:
What was he driving?
Chevy Tahoe....a few years old. He went pretty much full speed into a concrete wall.
I'm in OKC today. Lots of folks I'm working with here are talking about it.
Posted on 3/2/16 at 3:05 pm to Mid Iowa Tiger
quote:
Dudes story was pretty amazing and he had some big balls when it came to risk taking.
The guy liked leverage and walked the ethical/unethical line pretty heavily. I would love to read a book about his last 30 years or so. It didn't hurt though that he was Aubrey Kerr McClendon as in Kerr-McGee. That kind of helped him get his start
Posted on 3/2/16 at 3:34 pm to ForeverLSU02
quote:
While I agree that it was probably suicide, I don't think I would have attempted this way myself. What if he isn't killed?
I know a dude (grew up with him) who got high and attempted this very same thing to kill himself. His uber expensive Mercedes sedan saved him with some collision avoidance voodoo and the airbags turning a certain fatality into a super serious accident. He is permanently fricked up now and I shake my head every time I see him.
Posted on 3/2/16 at 3:45 pm to TheIndulger
quote:
Yeah, this was either a suicide, or he got drunk and reckless
Or, more plausibly, he was texting and driving.
The only reason I suggest it is more plausible is that it is obviously responsible for many more accidents than drunk driving or suicide.
Posted on 3/2/16 at 7:55 pm to TigerDog83
quote:
The guy liked leverage and walked the ethical/unethical line pretty heavily.
Yep, most billionaires have in one form or another on both leverage and ethics.
Posted on 3/2/16 at 8:13 pm to MC5601
quote:
He probably did this so his family could collect a massive life insurance policy
What billionaire is bothering with life insurance?
Posted on 3/2/16 at 8:15 pm to tes fou
I read that as "Ex-Cheapskate CEO"...
Posted on 3/2/16 at 8:27 pm to jbgleason
When I heard it was a 2013 as the news was coming out, why wasn't he in something different. Talk here even is did the air bags deploy. Police people are speculating not seat belt, never touched the brakes, no skid marks, and very excessive speed for a 50 mph zone.
Posted on 3/2/16 at 8:30 pm to TigerDog83
quote:
I would love to read a book about his last 30 years or so.
quote:
I would love to read a book about his last 30 years or so
"The Frackers" features him pretty prominently
Posted on 3/2/16 at 9:24 pm to TigerDog83
quote:
It didn't hurt though that he was Aubrey Kerr McClendon as in Kerr-McGee. That kind of helped him get his start
Or that his wife is an heir to the Whirlpool appliance fortune.
Posted on 3/2/16 at 9:41 pm to tes fou
No pity here.
Posted on 3/2/16 at 11:14 pm to jbgleason
Like vegetable?
Posted on 3/3/16 at 10:10 am to therick711
quote:
What billionaire is bothering with life insurance?
probably every one of them - its a pretty standard estate planning tool.
Posted on 3/3/16 at 10:22 am to MAROON
quote:
probably every one of them - its a pretty standard estate planning tool.
I would say this would be correct for most millionaires out there but once you get into the B's, it doesn't make a lot of sense. A $10-25M life insurance policy is expensive and you are subject to all kinds of health related tests and research. For a policy to mean anything to his family, it would have to be a $250M policy or more. That would be CRAZY expensive.
Posted on 3/3/16 at 10:40 am to MAROON
quote:
probably every one of them - its a pretty standard estate planning tool.
If you are using it as an estate planning tool, then it isn't fulfilling the same purpose as was referenced in the post. You already have the money, you are just utilizing life insurance as a vehicle to avoid taxation. The point of the post is that McClendon, who is rich, is not killing himself for life insurance money for his family.
Posted on 3/3/16 at 11:22 am to ShaneTheLegLechler
quote:
"The Frackers" features him pretty prominently
Solid book imo
Posted on 3/3/16 at 11:25 am to therick711
quote:
who is rich,
Probably change that to who was rich. Apparently it is coming out that he had practically mortgaged every asset he owned down to some of his wine collection. I have a feeling more things will come out of this rabbit hole in the upcoming weeks.
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