Chesapeake Business Practices

[bradh]

Does it strike anyone as odd that DOK/Mewsok has no mention of this?

It's not always about the scoop but more about having correct and pertinent information to report.

[Libbymin]

It's not always about the scoop but more about having correct and pertinent information to report.

Completely agree. If there's one thing that drives me crazy about the news these days (and the 24 hour networks are particularly bad about this), it's that they tend to report anything and everything they hear in the hopes that they be the first to release the scoop. Then they end up releasing bad info and peoples' names get dragged through the mud publicly.

[Pete]

Does it strike anyone as odd that DOK/Mewsok has no mention of this?

Brianna Bailey has been covering this and is on top of it.

Brianna came over from the Journal Record and does a great job.

I'm sure it's just waiting for the dust to settle a bit and preferring to have someone at CHK go on the record, which will almost certainly not happen until things have largely been wrapped-up.

[Just the facts]

What is there even to report? They company will offer a press release how this is good for the company to ensure future survival and the people let go are sworn to secrecy under penalty of losing there severance package.

[warreng88]

Entire departments/groups are being let go in large group meetings. some updates over at Chesapeake Energy Corp. Layoffs

Looks like there was so much traffic, they shut down. This is the message I got when I clicked the link:

Over Quota
This application is temporarily over its serving quota. Please try again later.

[zookeeper]

If the newspaper industry wants to stay relevant in this digital age, and I think it's important for them to do so, they need to do more than open a digital desk and link to silly videos and TMZ like stories. It needs to be AHEAD of "official" announcements if they have information from company emails, laid off employees, etc. They can fill in the blanks and details later. It sounds, to me, like they want to write it in such a way that Chesapeake Energy gets to frame the story.

[Just the facts]

If the newspaper industry wants to stay relevant in this digital age, and I think it's important for them to do so, they need to do more than open a digital desk and link to silly videos and TMZ like stories. It needs to be AHEAD of "official" announcements if they have information from company emails, laid off employees, etc. They can fill in the blanks and details later. It sounds, to me, like they want to write it in such a way that Chesapeake Energy gets to frame the story.

The problem is that doing that jeopardizes access to other news stories. I think at one point Sandridge told the Oklahoma to go take a hike.

[zookeeper]

The problem is that doing that jeopardizes access to other news stories. I think at one point Sandridge told the Oklahoma to go take a hike.

That's a risk. But I think the greater risk is on Chesapeake. They don't want to be on the wrong side of the newspaper. If as many people are being laid off, as we speak (write), I think you report the story as a HUGE breaking story. If Chesapeake is upset The Oklahoman didn't wait for their press release, well, that's the way it is. Newspapers have to change and be aggressive to stay relevant. I don't think they should report rumors and such, but there's much more than that now.

[adaniel]

If the newspaper industry wants to stay relevant in this digital age, and I think it's important for them to do so, they need to do more than open a digital desk and link to silly videos and TMZ like stories. It needs to be AHEAD of "official" announcements if they have information from company emails, laid off employees, etc. They can fill in the blanks and details later. It sounds, to me, like they want to write it in such a way that Chesapeake Energy gets to frame the story.

This is a terrible strategy. Being first should never take precedence over being right. And people lie, ya know. I certainly wouldn't take anything that someone says at face value when their own economic security is at risk.

[zookeeper]

Just like what Channel 9 is doing: Some Chesapeake Employees Confirm Another Round Of Layoffs - News9.com - Oklahoma City, OK - News, Weather, Video and Sports |
They obviously know the rules of the game these days.

[zookeeper]

This is a terrible strategy. Being first should never take precedence over being right. And people lie, ya know. I certainly wouldn't take anything that someone says at face value when their own economic security is at risk.

Terrible strategy? If journalists were to wait until confirmation from corporations, government, whatever - there wouldn't be any real journalism going on. They're not just typesetters to publish corporate press releases, Journalism means getting it right, but it also means - in this day and age - getting it to people sooner rather than later.

By the way, does your last sentence apply to the corporation's economic security as well?

[bradh]

There is nothing wrong with what channel 9 posted, and in terms of what zookeeper is proposing he's right there.

But as far as some in depth story, those should be left until more facts are available.

[PWitty]

Terrible strategy? If journalists were to wait until confirmation from corporations, government, whatever - there wouldn't be any real journalism going on. They're not just typesetters to publish corporate press releases, Journalism means getting it right, but it also means - in this day and age - getting it to people sooner rather than later.

By the way, does your last sentence apply to the corporation's economic security as well?

You must be confusing REAL reporting with blogging. Being sure that your sources are solid and all your facts are checked before you publish a story is what journalists are supposed to do. You can't just publish a story without anyone willing to go on record with the facts. That's how you lose your job.

[zookeeper]

You must be confusing REAL reporting with blogging. Being sure that your sources are solid and all your facts are checked before you publish a story is what journalists are supposed to do. You can't just publish a story without anyone willing to go on record with the facts. That's how you lose your job.

You're an O&G guy, I understand your loyalties. I'm curious, would you expect the same kind of reporting (or lack thereof) when it comes to government actions?

And Padz had it right, I'm not talking about a huge story - just an acknowledgment as to what's happening in our city! Right now!

[PWitty]

The situation as Chesapeake has nothing to do with the company being financially stable. That is what gets lost in all this. The situation with Chesapeake and Sandridge was that the Wall Street investors didn't think they were getting enough money. At no time was Chesapeake in danger of going out of business. At the end of each year AM had a pile of profits to do something with - he chose to spend on himself, his employees, his campus, and OKC in general and not give it all to the Wall Street investors. We saw where that got him.

You do realize that CHK has been operating in the red for a handful of years in a row now don't you? The only reason they came out cash flow positive was because of their annual asset sales. The main reasons were an overly aggressive land campaign and too many "extracurricular" activities. And the new organizational structure that has been implemented is how the structure of the company should have been all along. It's never good when people lose their jobs, but you're crazy if you don't think this makes the company a lot more efficient.

[bradh]

You're an O&G guy, I understand your loyalties. I'm curious, would you expect the same kind of reporting (or lack thereof) when it comes to government actions?

Don't mind if I step in here, but that's the problem with the media and the government, they're all in a race to be first or so concerned with their own slant, no one reports worth a crap.

Journalism in general is CF right now

[PWitty]

You're an O&G guy, I understand your loyalties. I'm curious, would you expect the same kind of reporting (or lack thereof) when it comes to government actions?

And Padz had it right, I'm not talking about a huge story - just an acknowledgment as to what's happening in our city! Right now!

Doesn't reporting like that qualify as a conspiracy theory?

[adaniel]

Terrible strategy? If journalists were to wait until confirmation from corporations, government, whatever - there wouldn't be any real journalism going on.

Separating facts from BS is real journalism. Yeah it takes time to confirm everything. That probably doesn't do well in our world of instant gratification but it needs to happen nonetheless.

As far as this situation is concerned, there are probably far fewer "sources" out there than you think. If you had to go through the shock of getting laid off, are you going to first pick up the phone and blab to reporter? Doubtful. In fact, I'm sure the severance packages these folks are getting have some pretty ironclad privacy clauses. I don't think any laid off employee is going to go on record with a journalist if it is going to get in the way of their ability to put food on the table.

[Steve]

You must be confusing REAL reporting with blogging. Being sure that your sources are solid and all your facts are checked before you publish a story is what journalists are supposed to do. You can't just publish a story without anyone willing to go on record with the facts. That's how you lose your job.

WIN^^^^^
Typing rumors onto a website is easy. Confirming information, getting reaction, putting it into context is work.

[zookeeper]

WIN^^^^^
Typing rumors onto a website is easy. Confirming information, getting reaction, putting it into context is work.

Steve, I love 'ya, I think you are great. (You knew there was a 'but' coming). What's happening now is more than rumors. You know that. I know that. The people actually laid off know that. Did channel 9 just report rumors or did they just let the city know that layoffs are happening and they'll have more details as they become available?

For the main story, with all the facts, etc, should obviously be as you described. I just don't think anybody should coddle Chesapeake Energy, and wait for their narrative, before reporting that layoffs. Are. Happening. As we speak. Details to follow.

There's nothing wrong with that. I'm sure glad to see you back on this site and don't let the bas%a#@ get you down.

[Libbymin]

You do realize that CHK has been operating in the red for a handful of years in a row now don't you? The only reason they came out cash flow positive was because of their annual asset sales. The main reasons were an overly aggressive land campaign and too many "extracurricular" activities. And the new organizational structure that has been implemented is how the structure of the company should have been all along. It's never good when people lose their jobs, but you're crazy if you don't think this makes the company a lot more efficient.

More efficient yes, but the work environment will be a total sweat shop now. I think the concern after the layoffs will be that they whittle the company down to nothing and then sell it off. So much for being a recession proof city.

[PWitty]

More efficient yes, but the work environment will be a total sweat shop now. I think the concern after the layoffs will be that they whittle the company down to nothing and then sell it off. So much for being a recession proof city.

I think that is a little exaggerated, but time will tell. Anadarko is a good company to work for as well, and CHK seems to be getting more and more like Anadarko organizationally.

[Teo9969]

More efficient yes, but the work environment will be a total sweat shop now. I think the concern after the layoffs will be that they whittle the company down to nothing and then sell it off. So much for being a recession proof city.

This had nothing to do with the recession...

[CuatrodeMayo]

More efficient yes, but the work environment will be a total sweat shop now.

It's not like CHK wasn't the opposite of a sweat shop before.

God forbid CHK employees actually have to earn their living.

[Pete]

Unless they are also slashing salaries of those who made the cut, they will still be paid well over market.