Respect Yourself

Charles Payne

Leadership or lack thereof is without a doubt one of the biggest problems in America today. Yesterday, one of the biggest news items in the market was the continued collapse of the Aubrey McClendon's image as business maverick and celebrity CEO to a guy that maybe saw himself above it all.

The nerve of and vision of an old school wildcatter McClendon and Ward started Chesapeake Energy (CHK) with $50,000 in capital and ten employees. They revolutionized horizontal drilling and went after unconventional reservoirs. The stock was the stuff of legends climbing to $65.00 in June 2008 from $2.50 in January 2000. The shares got slammed to $15.64 by February 2009 and have been up and lately (really) down since.

All kinds of news is coming out about dealings with the company that includes a billion dollars in loans, perhaps self dealing with a personal hedge fund on the side and now McClendon is dropping the CEO title. Wall Street loved this guy. I loved this guy.

Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.

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11 Comments So Far

Margaret404 Wrote: May 06, 2012 3:19 PM

Thanks again Charles for an excellent thought provoking article.
This election means taking back America. Getting back to our roots as a Republic. Throw out the politicians and their legislation that would create a socialist country of failure.
Dump the Federal Reserve and World Bank and put our currency once again on solid ground.
Tell the U.N. to stick their nose you-know-where and loose our phone number.
Bring our troops home - issue an ultimatum: don't cross your borders with guns in your hands or your country becomes an extension of the Gobi Desert. That's pretty clear.
This election is about America redeeming her pride by each citizen doing the same by endeavoring to get off entitlement programs.

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Wendy60 Wrote: May 04, 2012 9:38 PM

You said it! Ayn Rand once said the ego is the fountainhead of all human progress. She wasn't talking about narcissism. She meant the self-respect and self-regard that a person needs to take charge and get things done. The Tea Party has stepped forward to set things right, and it knows what to do. Our official leaders have catastrophically, epically FAILED in the last few years. They almost destroyed Western civilization. They simply don't know what to do, and the vast majority of them do not have a good will, either. They will not give up their power even if it means things go to hell in a handbasket; they are malignant obstructionists. But the Tea Party has had it with them. They have to go. They will go.

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Dancing Bear Wrote: May 04, 2012 5:52 PM

Great piece. There is no leadership because there is no more character. I live outside the US at present and dread coming back. Absolutely dread it. Thanks for more good work.

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sylvia J Wrote: May 04, 2012 12:39 PM

Thank you again Charles, for all the TRUTHS you have the stones to say. There are very few that just don't know how to be truthful or maybe they are would rather be POLITICALLY CORRECT, untruthful,"LIAR" as the old folks used to say. Putting it bluntly, "it's easier to lie than be truthful" when actually is just the opposite way around, TRUTH needs NO explanation or defence. The GOVERNMENT, "OBAMA" for one would rather stand up tall and LIE to us all, some will still believe HIM but for the most part the rest will KNOW as soon as he opens his mouth ALL THE WORDS ARE LIES. Because his ACTIONS proves them as such.Most of the GOV. has broken every LAW we have and should be prosecuted just like the rest of us. b ut this will never happen.
VOTE,

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Blair31 Wrote: May 04, 2012 12:15 PM

I doubt if Home Depot would hire Obama as their CEO because his policies have failed.

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dahni Wrote: May 04, 2012 10:12 AM

Mr. Payne, you are just saying what I hope is the feelings of a majority of Americans; our politicians and wall street moguls are beset by unconscionable greed and narcicisstic fawning.

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Bill110 Wrote: May 04, 2012 6:59 AM

You say, "It's great that we are feeling better about ourselves and all we need now is to be able to hire ourselves or have the power to stop the larceny of government."
This is the same fallacy that our public schools advocate called "self esteem". Feeling good about yourself, being good to yourself, thinking that you need to "put yourself first", is a path to failure.
The truth is we need to respect our Constitutional Republic. We need to find and elect leaders who love God and Country. We to hold them accountable to "we the people". It's not our form of government that is the problem,---it is the shysters that exploit our trust in them.

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Spikeygrrl Wrote: May 04, 2012 9:00 AM

The problem is that we have put he cart before the horse. The only REAL road to "self-esteem" is via self-RESPECT.

Self-RESPECT is earned by working at something and doing it well. "Self-esteem" as we currently parse it is UNEARNED; supposedly we must "esteem" ourselves before we are capable of doing anything for which real respect (by ourselves and others) CAN be earned.

The most naked example of this is young folks whose sole ambition is "to be famous." When you ask them what they want to be famous FOR, all you get back is blank looks.

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dahni Wrote: May 04, 2012 10:31 AM

well said.

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Floyd35 Wrote: May 04, 2012 6:57 AM

I found out the hard way that you can't always believe the hype about a stock. They tell you what they want, or what they think will please you. You have to search long and hard for the truth. Always figure a stock is only worth about half of what they claim it is valued at. Always cover your butt with hedges and don't trust no one.

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silentCalfan Wrote: May 04, 2012 4:01 AM

We don't trust government because so many politicians and bureaucrats are patently dishonest. But that is the fault of voters. Examples abound. Connecticut voters elected Senator Blumenthal despite the fact he famously lied about serving in Vietnam. Black voters keep electing Alcee Hastings to Congress despite the fact he was impeached for being a crooked federal judge. Blind partisanship will be the ruin of the nation unless voters wise up.

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Respect Yourself

Charles Payne

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