Devon Business Practices

[MikeOKC]

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.

[Bellaboo]

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.

He played his 'fiddle' all the way to a $750 million dollar investment in OKC....... could have taken that somewhere else...

[Just the facts]

He played his 'fiddle' all the way to a $750 million dollar investment in OKC....... could have taken that somewhere else...

Not to derail the thread but do you realize what you are saying with this comment? You seem to be making the case that the City is for sale to the highest bidder and that doing so is okay.

Plutocracy (from Ancient Greek ploutos, meaning "wealth", and kratos, meaning "power, rule") is rule by the wealthy, or power provided by wealth.

1. the rule or power of wealth or of the wealthy.
2. a government or state in which the wealthy class rules.
3. a class or group ruling, or exercising power or influence, by virtue of its wealth.

Also, Devon Tower was an investment in Devon Energy. The building belongs to them and they use it to run THEIR business. I wonder how many people in OKC would feel if the urban core had the same type of voting system Central London has.