First it was the value of the shares in Chesapeake Energy dropping by more than 70%, then it was being forced to sell off his shares at rock-bottom prices, and now Aubrey McClendon has lost at the ballot box as well.
Proposition 10 in California, which was heavily subsidized by our friend Aubrey to the tune of $3.5 million (which is, coincidentally, $3.5 million more than he volunteered to pay for the new arena in Renton), has gone down in defeat.
This comes despite the fact that backers of the proposition, including McClendon as well as T Boone Pickens and others, spent more than $25 million in support of the bill.
Opponents? They spent about $150,000.
The proposition, which would would have created rebate incentives for the purchase of cars and trucks running on natural gas or other alternative fuels looked to be losing by more than 15 points at the polls.
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