NO MORE NATION BUILDING, JUST KILLING THE BAD GUYS.

NO MORE NATION BUILDING, JUST KILLING THE BAD GUYS.
ICHEOKU says the United States of America mandate to its military engaged overseas particularly Afghanistan is stop cuddling the bad guys, just whack them. ICHEOKU says certainly a c-change in the rules of engagement and it will certainly make it easier for our warriors who will risk less of their lives and limbs in battle fields. President Donald John Trump is definitely leading as said and providing the leadership our military needs as their Commander in Chief. Way to go.

NORTH KOREA PUT ON NOTICE: DON'T PUSH ME.

NORTH KOREA  PUT ON NOTICE: DON'T PUSH ME.
"North Korea best not make any more threats to the United States. They will be met with fire and fury like the world has never seen. As I said, they will be met with the fire and fury and, frankly, power." - President Donald John Trump. ICHEOKU says the Michelin Tire midget at Pyongyang is definitely courting trouble and messing with the wrong man. He probably thinks Barack Obama the redline president is still in office; but unbeknownst to him there is a new sheriff in town and his name is Donald John Trump and he does not mess around. Hopefully China can rein in the little man before he commits mass suicide with his North Korean people.

HILLARY CLINTON LOST THE ELECTION - CHARLES SCHUMER

HILLARY CLINTON LOST THE ELECTION - CHARLES SCHUMER
"When you lose to somebody who has a 40 percent popularity, you don’t blame other things — Comey, Russia — you blame yourself. So what did we do wrong? People didn’t know what we stood for, just that we were against Trump. And still believe that." - Senator Charles Schumer, Senior Senator from the State of New York and Democratic Minority Leader in the Senate. ICHEOKU says the statement spoke volume and it spoke for itself. Finally it seems the Democrats have finally turned the corner and are now ready to face up to their abysmal performance in the last presidential election by acknowledging that the American people indeed choose Trump over their Hillary Clinton. Thankfully, they will also now rest their "Russians Did It" cockamamie and find a message they can present to the people and for the good of the country.. Time to move the process forward is now as American people did not buy into the crap of a Russian collusion which they tried unsuccessfully to sell to them.

IT IS GAME ON: MAYWEATHER FIGHTS MCGREGOR

IT IS GAME ON: MAYWEATHER FIGHTS McGREGOR

ICHEOKU says August 26 is the day history will be made as two of the world's most interesting athletes square off in the ring. Boxing champion Floyd MayWeather and mixed martial arts champion Conor McGregor, will fight on August 26 in Las Vegas, Nevada. ICHEOKU says not in a position yet to place bet on who will win the fight. Salute


BIAFRA EXIT FROM NIGERIA: A CALL TO DUTY

BIAFRA EXIT FROM NIGERIA: A CALL TO DUTY
ICHEOKU says the time has come and the time is now for the Indigenous Peoples of Biafra to be allowed to choose their self governance and exit from Nigeria going forward.. A referendum on the future of Biafra is a legitimate demand of the people and it is their right to so do. The people of the Nation of Biafra want to of their own way because of the hostilities from other member nations of Nigeria. Let the United Nations order a referendum and let the people decide in their own Biafraexit.

PDJT ISSUES VERDICT ON ISLAMIST TERRORISTS


"There can be no coexistence with this violence. There can be no tolerating it, no accepting it, no excusing it, and no ignoring it. Every time a terrorist murders an innocent person and falsely invokes the name of God, it should be an insult to every person of faith. Terrorists do not worship God; they worship death. If we do not act against this organized terror, then we know what will happen and what will be the end result. Terrorism's devastation of life will continue to spread, peaceful societies will become engulfed by violence, and the futures of many generations will be sadly squandered. If we do not stand in uniform condemnation of this killing, then not only will we be judged by our people, not only will we be judged by history, but we will be judged by God." - President Donald John Trump.


BBOB: BRING BACK OUR BIAFRA

ICHEOKU says it is worth fighting for, self determination and it is not a crime for a people to aspire for self governance. Indigenous Peoples of Biafra are marching forward and hopefully they will soon get to the promised land. Viva Biafra.
#BringBackOurBiafra.




"When two raging fires meet together, they do consume the thing that feeds their fury. Though little fire grows great with little wind, yet extreme gusts do blow out fire." - William Shakespeare, The Taming of the Shrew


WHAT REALLY MATTERS IN LIFE - STEVE JOBS

“I reached the pinnacle of success in the business world. In others’ eyes, my life is an epitome of success. However, aside from work, I have little joy. Non-stop pursuing of wealth will only turn a person into a twisted being, just like me. God gave us the senses to let us feel the love in everyone’s heart, not the illusions brought about by wealth. Memories precipitated by love is the only true riches which will follow you, accompany you, giving you strength and light to go on. The most expensive bed in the world is the sick bed. You can employ someone to drive the car for you, make money for you but you cannot have someone to bear sickness for you. Material things lost can be found. But there is one thing that can never be found when it is lost – Life. Treasure Love for your family, love for your spouse, love for your friends. Treat yourself well. Cherish others.” - SJ

EVIL CANNOT BE TRULY DESTROYED.

"The threat of evil is ever present. We can contain it as long as we stay vigilant, but it can never truly be destroyed. - Lorraine Warren (Annabelle, the movie)


ONLY THE POOR WISH THEY HAD STUFF?

“I’m not that interested in material things. As long as I find a good bed that I can sleep in, that’s enough.” - Nicolas Berggruem, the homeless billionaire.

Thursday, August 7, 2008

T. BOONE PICKENS, A BIG THINKER?

Who is T-Boone Pickens? What is T-Boone Pickens about? T-Boone Pickens is an 80 year old Texas oil billionaire who is championing the cause of redirecting United States of America's dangerous dependence on foreign oil to other alternatives particularly wind energy. His mantra is that with wind energy, America will save several billions of dollars now sent overseas to sometimes unfriendly nations in exchange for their oil. T. Boone Pickens wants to replace Middle Eastern oil with Midwestern wind. T. Boone Pickens wants to exploit the country's "wind corridor" from the Canadian border to West Texas to produce 20 percent of the country's electricity.
If wind farms are built to generate power, at least the oil need for such generation will be curtailed hence saving money which would otherwise have been spent in that direction. To some people T-Boone Pickens is "crazy" while to some others he is a trailblazer who is pioneering an industrial revolution of energy generation with wind turbines. Icheoku says such a move is worthy move in the right direction which should be encouraged by every American as well as their government in Washington DC. Icheoku says that T-Boone Pickens, a billionaire with an energy plan, is a visionary!

1 comment:

Anonymous said...

Mesa Petroleum, also known as Mesa Limited Partnership, the nation's largest independent producer of domestic oil and gas and one of its largest gas producers, is a publicly held corporation with headquarters in Dallas and offices in Amarillo, Fort Worth, and Las Colinas. (Independent operators are distinguished from major oil companies primarily by their smaller size and lack of vertical integration.) It was founded by Thomas Boone Pickens, the son of a landman, a person whose job is to find landowners willing to lease mineral rights and then sell their leases to oil companies. Pickens was born on May 22, 1928, in Holdenville, Oklahoma, moved to Amarillo while in high school, attended Texas A&M for a year, and received his geology degree from Oklahoma A&M in 1951. After working as a roughneck and in a refinery, he became a geologist for Phillips Petroleum, but difficulties in dealing with company bureaucracy forced him to resign in 1954 and start out on his own. For two years Pickens was self-employed in well-site and consulting work. He founded the company that became Mesa Petroleum in 1956, when he entered into a partnership known as Petroleum Exploration, Incorporated, with Eugene McCartt and John O'Brien, his wife's uncle. McCartt and O'Brien owned quarter interests and supplied a line of credit that enabled work on bigger ventures, while Pickens owned the remaining half and served as president. In its early deals, PEI made money by selling prospects it had discovered and retaining a "back-in interest" or percentage of the profits made by the well in its first few years. Eventually, the firm attracted a group of Amarillo investors who allowed it to drill its own wells, and in 1958 PEI discovered eight gas and one oil well in sixteen tries. In 1959, with the help of PEI investors, Pickens formed Altair Oil and Gas Company to explore for oil in Canada, once again serving as president and major stockholder. In 1960 the company acquired a Utah mining company, Standard Gilsonite, and in 1962 PEI drilled ninety-eight successful wells and made more than $750,000 in profits. Company employees increased from two to twenty-three, and investors to nearly 300.

In 1963, when McCartt wished to sell his share in the company, Pickens and PEI lacked sufficient money to buy him out. PEI signed a three year note with McCartt to pay him for his interest in the company. McCartt threatened to take over the company when it almost defaulted on its payments, a situation avoided in 1964 when Pickens led the company in an initial public offering to raise capital. At the same time, Pickens renamed the company Mesa Petroleum for "the picturesque, table-topped lands that rise out of the Texas Panhandle." In this process, Mesa combined the properties of Altair and PEI, and acquired 239 stockholders from the two original firms. In its first year, Mesa produced revenues of $1.5 million and a net income of $435,310. The company grew steadily, and by 1968 had revenues of $6.2 million, profits of $1.4 million, and stock traded on the American Stock Exchange.

Mesa's fame initially developed from its acquisitions. In early 1968, Pickens targeted the Hugoton Production Company of Garden City, Kansas, for a possible merger. Hugoton owned a substantial portion of the Hugoton gas field in southwestern Kansas, then the nation's largest gas field. When the Hugoton management rebuffed Pickens's offer, Mesa introduced a hostile tender offer that would give Hugoton shareholders 1.8 shares of Mesa's common stock for every share of Hugoton's. Because Pickens was not yet forty years old and his company was the smaller of the two, Hugoton's management and board of directors failed to take him seriously. In 1969, however, Mesa acquired nearly one-third of Hugoton's shares, and in April stockholders of both companies approved the merger. Hugoton assets gave Mesa the leverage it needed to expand its business and complete bigger deals. Shortly after completing the Hugoton deal, Pickens diversified with the purchase of the Swisher County Cattle Company and the Harmon and Toles Grain Company, a cattle-feeding operation in Hutchinson County, Texas. He also acquired Randall County Feed Yard, and began to increase the capacity in its yards. Within three years, Mesa was the second largest cattle feeder in the country, with the capacity to feed more than 160,000 cattle. By 1973 the firm also owned more than 150,000 head of cattle. Cash flow from cattle operations enabled Mesa get into offshore exploration, but the cattle industry experienced a downturn in 1973. Despite Pickens's efforts to hedge his cattle, the diversification effort ultimately failed and Mesa sold its cattle operations at a substantial loss.

Mesa's next attempt at diversification linked it with a company closer to its line of business and with sizable oilfield reserves. Its offer to Southland Royalty Company of Fort Worth was terminated after the Southland management waged a successful legal battle against Mesa. In 1970, Mesa acquired Pubco Petroleum, based in Albuquerque, New Mexico, as well as undeveloped acreage and personnel that produced an aggressive rate of growth. In 1972 Mesa reported $92 million in revenues, $15 million in profits, and $189 million in assets. In 1976 the company discovered the largest field in its history in the North Sea. The Beatrice Field, named for Pickens's wife, netted the company a $31.2 million profit before Mesa sold it to the British National Oil Company, established by the British Labor Party. Faced with government requirements that BNOC participate in local finds made by non-British exploration companies, Mesa decided it was easier to sell than have BNOC as an unwelcome partner. Between 1973 and 1981, Mesa grew into one of the largest independent oil companies in the world, with assets of more than $2 billion. In 1980 reserves totaled more than twenty-five million barrels of oil and natural gas liquids and, by the end of the decade, almost 2.5 trillion cubic feet of gas. In 1979, facing a new Canadian tax policy, Pickens sold Altair Oil and Gas and founded the Mesa Royalty Trust to restructure the firm by spinning off a large portion of its reserves to shareholders. Mesa distributed trust units on the New York Stock Exchange equal to the number of shares each stockholder had in Mesa common stock. Stockholders received 90 percent of the profits from assets directly, while Mesa retained a working interest to manage the properties. In 1984 the Tax Reform Act dissolved such trusts.

Pickens also succeeded in oil futures, but it was his repeated attempts to take over companies much larger than his own that led to his and the company's greatest fame. By the 1980s he came to believe that acquiring other companies had become more profitable than oil exploration and production. His skill lay in an ability to identify undervalued companies and make a profit when outside parties and the markets recognized their value. In the spring of 1982, Mesa made an offer for Cities Service Company of Tulsa, Oklahoma, a company more than twenty times the size of Mesa. Cities Service responded to Mesa's tender offer with a tender offer of its own for Mesa. Cities Service enlisted Gulf Oil as a "white knight," a company agreeable to management that could defend the targeted company, to help in their defense. Mesa eventually lost the battle, but sold the stock it owned in Cities Service back to the company for a $30 million profit. In the 1980s, Mesa attempted several other takeovers. It was outbid by Phillips Petroleum in a 1983 offer for General American Oil, a Dallas independent, but succeeded in acquiring a 5 percent portion of shares outstanding in Gulf Oil, the sixth largest oil company in the United States. Later that summer Pickens and a group of investors acquired additional stock to bring Mesa's total interest to 11 percent. Pickens then launched a proxy fight with Gulf for control of a company he viewed as poorly managed. Gulf's management offered Pickens a "greenmail" premium, an amount paid by a target company to repurchase its stock from a corporate raider, but he refused. Eventually, Socal Oil merged with Gulf in the largest merger in corporate history to date, and Pickens and his investors profited $760 million before taxes by tendering their shares to Socal. Mesa also attempted to buy Phillips Petroleum and Unocal, but did not acquire either.

In late 1985, after a friendly merger with Pioneer, a large Amarillo independent oil and gas company, Pickens reorganized his company as the Mesa Limited Partnership, then the largest independent oil company in the world. The same year, he founded the Boone Company, a joint venture between Drew Craig, Sidney Tassin, David Batchelder, and Pickens, to deal separately from the Mesa Limited Partnership. In the late 1980s and early 1990s, Pickens attempted takeovers of Newmont Mining, a New York-based firm, Diamond Shamrock, and Koito Mfg., Ltd., a Japanese auto-parts manufacturer, making substantial gains in the process. After a dispute with the Amarillo City Council, Mesa moved its headquarters from Amarillo to Dallas in 1989, and in 1991 restructured itself from a limited partnership to a corporation. In that year the company also sold significant assets to Seagull Energy of Houston. Mesa employed approximately 300 people in 1993.

T. Boone Pickens has been at the center of controversies surrounding Mesa. Called an "entrepreneurial populist," a corporate raider, and a greenmailer, he is accused of buying and breaking up companies and putting people out of jobs. In 1986 he started and funded a nonprofit organization called the United Shareholders Association to fund a newspaper informing shareholders of corporate abuses, and in 1987 he defended his position in a best-selling book entitled Boone. Pickens, for whom the West Texas A&M University business school is named, has served as the university's chairman of the board and supported other Texas universities.