Quote Originally Posted by pw405 View Post
So, if Devon spent 750 million on their new office, and they made 4 billion last quarter, doesn't that mean they had the tower paid for in 3 weeks?
Devon basically paid cash for their tower. Unheard of. Read this blog post:
Optimizing Shareholder Value – A Lesson from Devon Energy’s Management

Seriously, Devon Energy is looked at, by a lot of corporate America, as a model for debt reduction/elimination. They are a very conservative corporation - as opposed to the complete opposite right here in the same city with the big spending of CHK (ridiculous), and even Sandridge.

Because I've been an outspoken critic of McClendon and the corporate (mal)governance of Chesapeake, I don't want anyone to think I'm a Devon homer either. Devon is just a well run corporation. However, I have problems with the amount of power in Larry Nichols hands. In my opinion, he's a plutocrat who has used his money and position to place him on the right boards at the right time and has played OKC like a fiddle for the long-term purposes of Devon Energy and Larry Nichols. But, I admire him as a businessman. John Richels is a great CEO, Hager, Agosta, and Nichols himself is an excellent corproate team. And this is critical --- the board is no rubber stamp.