Jim Cramer's Best Blogs
NEW YORK (TheStreet) -- Jim Cramer fills his blog on RealMoney every day with his up-to-the-minute reactions to what's happening in the market and his legendary ahead-of-the-crowd ideas. This week he blogged on:
- Chesapeake Energy's board;
- what's wrong with analysts' latest line on Apple; and
- JPMorgan's massive loss.
Click here for information on RealMoney, where you can see all the blogs, including Jim Cramer's -- and reader comments -- in real time.
Chesapeake Will Have to Change
Posted at 4:40 p.m. EDT on Friday, May 11
Let me start off by saying that I am not recommending the stock of Chesapeake Energy(CHK) . I don't want you to own it. I don't even want you to speculate in it. I am not a bull on natural gas, and I don't like the opaque way this company is run. These afternoon filings are disastrous, because the selloff-in-pieces strategy to keep the company going, a strategy that has worked for years, no longer seems in play because of debt compliance concerns.
Now with that out of the way, I don't know whether the company can stay independent, given these filings today that say it can't sell assets in pieces. I write that because there are two countries that are so hungry for natural gas, China and South Korea, that I can see a carve-up of this company without any issue. Further, I can see how the utilities that have bought into Cheniere Energy's(LNG) plan to export natural gas would be panting for these assets.
The assumption is that can't happen because Chesapeake CEO Aubrey McClendon "owns" the board or because the board members are paid so much money they won't do "the right thing," whatever that is. The other assumption: They were clueless or "in on it."