Current Weather
The Spy FM

“SandRidge Energy, Dissident Shareholder Reach out to Employees”

Filed by KOSU News in State Impact.
March 7, 2013

SandRidge Energy and its dissident shareholder, TPG-Axon, are both trying writing letters to company employees to sway opinion in the energy company’s proxy fight.

TPG-Axon has urged SandRidge to cut back its overhead as much as 75 percent by reducing employee compensation, selling the company’s planes and some of its buildings and ending “extraneous expenses.” That 75 percent figure was not part of Tuesday’s letter.
TPG-Axon, in Tuesday’s letter, said more than one-third of SandRidge’s overhead spending was compensation for a small number of executives and board members.
Womack said he expects TPG-Axon to reduce the number of employees at SandRidge if it gains control of the company.

Read more at: newsok.com

Powered by WPeMatico

Leave a Reply

9PM to 5AM The Spy

The Spy

An eclectic mix of the Spy's library of more than 10,000 songs curated by Ferris O'Brien.

Listen Live Now!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center