Carl Icahn Has Lost $633 Million on Chesapeake Gamble…So Far

The firings will continue until morale improves! Or at least until Carl Icahn makes money. Once upon a time corporate raider Carl Icahn was Chesapeake Energy’s second largest investor. Today, he’s the company’s largest investor. Ichan has certainly made his presence know. Using his proxy (we call him a toady) Doug Lawler, the CEO Icahn installed after he ousted founder Aubrey McClendon from that position, Doug “the ax” Lawler went to work (see Chesapeake’s CEO Celebrates Axing 1,200 People Making Carl More $). To hear Chessy people talk (the few that are left) it’s been all butterflies and unicorns. Everything is looking up–except Ichan’s investment. With the downturn in oil and natgas prices, Ichan’s Chesapeake stocks have tanked and his big gamble on Chesapeake isn’t looking so rosy anymore…

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