This Memorial Day weekend, motorists will find gasoline plentiful and at the lowest price it’s been for two years. Good news. And it may get better. The Christian Science Monitor reports.
Monday, 14 May 2012 | Posted By:
| Source: CNBC.com
A leading fund manager called on the board of Chesapeake Energy to fire its chief executive on Monday after it revelations that he had taken $1.1 billion in personal loans against his stakes in the energy company.
Thursday, 10 May 2012 | Posted By:
| Source: CNBC.com
Worried about the collapsing price of natural gas, Boone Pickens recently sold his entire stake in Chesapeake Energy, he told CNBC during an exclusive interview at the SALT alternative-asset conference in Las Vegas.
Before Chesapeake Energy CEO Aubrey McClendon was stripped of his chairmanship, he arranged an additional $450 million loan from a longtime backer, according to a person familiar with the transaction.
The Obama administration's proposals require that companies get government approval to use hydraulic fracturing, or fracking, in natural gas drilling on federal lands.
The natural gas producer reported quarterly earnings and revenue that missed Wall Street's expectations on Tuesday, sending its shares lower in trading after the closing bell.
Chesapeake Energy said it would not extend a controversial compensation plan for Aubrey McClendon that provided him with a right to personally invest in the company’s new wells. The New York Times reports.
The SEC has opened an informal inquiry into Chesapeake Energy's well participation program with the company's CEO, a source familiar with the matter said on Thursday.
Aubrey McClendon, the CEO of Chesapeake Energy Corp, has borrowed as much as $1.1 billion over the last three years against his stake in thousands of company wells — a move that raises the potential for conflicts of interest.
German engineering conglomerate Siemens is poised to scrap its full-year target of flat net profit at 6 billion euros ($7.8 billion) amid losses from its offshore wind business, Financial Times Deutschland reported, citing company sources.
It was a news-filled week for the markets and the business world in general; major deals, wild gyrations, price slides and some major worries. But some fun things happened, too. Click ahead to see what we believe are the more significant business events of the past week.