scarlet: aubrey mcclendon was what aubrey mcclendon -- was 's doingrey mcclendon exceptional in the industrythere was another company that was supposedly colluding to fix the amount of money it would pay to drill on land. alix: i would go to you and try to get your parents land and leases. i would least that land to a competitor for a low price. there were no bidders, there was no racking up the price, and that's how you would keep those costs low. aubrey mcclendon did start a american energy partners, the same kind of thing. i-chesapeake.min -chesapeake. this was part of his comeback. how much traction did he get? >> they got a substantial amount of backing, first reserve, blackstone, energy and minerals group, run by john raymond, so he had backing by serious people in serious money. again,acquiring land also extending into australia. andlet: aubrey mcclendon tom more work like a land leased guys. they would least your land and release it to a bigger oil company and pocket the difference. that is how they started. they went from that to building chesapeake, the biggest producer of natural

i know you were friends with aubrey mcclendon.was indicted yesterday by the doj and was in a very difficult position because of that. i do not know about that issue. we last visited sometime last year. i went to a basketball game with him, where he was very proud of the oklahoma thunder. you know, we now take for granted the fact that we have relatively cheap natural gas, which has just now replaced coal as a principal source of power generation. resulted in a reduction of co2 emissions and a lot of job creation. in a way, aubrey was a victim of his own success. was ad people that there vast amount of natural gas and brought in tens of billions of dollars of investment and tens of billions of dollars of investment followed, and as a result, the price of natural gas fell, which made it hard on his own company, which was overleveraged. white, you know, mayor you would have seen a lot of ones like this, but give me memory of aubrey mcclendon that stands out in your memory. white: you know, he was a soft-spoken guy, and there was a ti

mcclendon was 56 years old. the indictment was handed -- he was due to appear in court this morning or midmorning. keep in mind he denied it vehemently. according to the justice department there were companies involved and the companies decided who would win the leases. the winning bidder allotting an about the to the other company. that was the allegation of bid rigging and lease rigging for oil and gas properties. he said that he did not do that, he is going to defend his reputation, he had retained an attorney for that purpose. however, earlier this morning, the private equity fund energy and minerals group told their investors they were season all operations with chesapeake energy corporation and mr. mcclendon based on the allegations of the antitrust law and the violation thereof. they say they would not do any further business with mr. mcclendon and they had invested $3 billion in ventures with mr. mcclendon since he left chesapeake. the indictment alleges that he orchestrated what they call a quote/unquot

this about aubrey mcclendon i'll say. for years and years we wanted energy independence, energy independence in this country and there are few people that helped us get to where we are right now, regardless of when you think about him, he's one of them along with t. boone pickens so it's a huge loss i think for the country. it's a huge loss for entrepreneurship. >> huge proponent of nat gas as an alternative and appropriate pent of nat gas vehicles. >> right. >> hasn't quite come as far as what he thought would happen. >> yeah. >> in the space. >> that takes a huge -- and t. boone pickens has talked about this as well. it takes a huge conversion to get the entire vehicle fleet over to natural gas. it seems to me that the first progression would be the transportation sector, your trucks and your buses and that type of thing, but that's probably coming down the line. these are long-term projects. when he started in the fracking business, and this was 10, 20 years ago and we didn't know anything about it, and it created an i

"the department of justice is saddened to hear about the death of aubrey mcclendon. we offer our condolence to his family and loved ones." >>> now to wall street where today looked nothing like yet's furious rally. instead, stocks were quiet. little changed, in fact, as investors digested more upbeat economic data, higher oil prices and results of super tuesday's contest. by the closing bell the dow jones industrial average rose 34 points to 16,899. nasdaq gained 13. s&p 500 added eight. >>> the markets are getting their first chance to digest results from super tuesday. many investors were looking for clarity and last night some may say they got it. the front-runner strengthened their leads. donald trump and hillary clinton rolled over their rivals in many states. and as john harwood tells us, the two are already looking ahead to the next big primary contests. >> reporter: you can look at the super tuesday primaries in two ways, did they snuff out hillary clinton's competition for the democratic presidential nomination and donald trump's for the republican nod? no,

aubrey mcclendon.nformation they have right now is his vehicle, which is identified as a 2013 chevy tahoe traveling northbound just south of memorial towards i-44, better known as turner turnpike. he went left of center, traveling at a high rate of speed and collided into the west embankment wall of the overpass. his vehicle was engulfed in flames immediately and he did not survive. liz: chesapeake released this statement saying they were, quote, saddened by the news and thoughts and prayers are with the mcclendon family. interestingly, the stock was up 10% this morning on news about the indictment, then spiked more than 30% to the upside on news of the death. it has now moderated a bit, up about 23%. chesapeake still just at $3.40 a share. >>> to politics and virginia, which is again a key swing state in 2016. it's the so-called color purple and could help decide the eventual president of the united states. last night hillary clinton soundly beat bernie sanders to pick up 61 delegates, nearly doubling

motif.com, thank you. >>> we want to just jump back quickly to the aubrey mcclendon story. reactions continue to pour in remembering mr. mcclendon, who was killed yesterday in that car accident in oklahoma, we have heard now, i've gotten an e-mail from john arnold, the billionaire investor and certainly a legend in energy trading circles, who now runs his own foundation. he tells me the following about aubrey mcclendon, and i quote, it is difficult to overstate the impact aubrey had on the industry. he revolutionized the techniques that have led to the proliferation of cheap energy in america. through immense talent and hard work, aubrey bypassed the traditional industry hierarchy to create the second largest natural gas producer in america from scratch. he was truly a pioneer and a titan in the business world. and i am glad to have been able to call him a friend. that from john arnold. joe, you sort of -- you know better than me the stature of john armnold in the energy trading world. >> he's a legend, very young, very young energy trader and what he does now is philanthro

but, first, we start with a breaking news on former chesapeake energy ceo aubrey mcclendon and let's get straight to sue herera with the very latest on this developing story, sue? >> an accident happened earlier this morning about 8:15 a.m. this morning, and aubrey mcclendon, the former ceo of chesapeake energy, was identified by the oklahoma city police department as being the victim in this one-car accident that occurred on a country road in hockey hockey city. here is what paco baldarama had to say about the circumstances surrounding the accident.

. >> energy pioneer robert mcclendon dies in a horrific car crash. this is a day after he had been indicted. we're going to go live to oklahoma. >> what jay my dimon told cnbc about the lie of hitz bank. >> mitt romney is expected today to deliver a harsh set of words on donald trump, describing the front-runner as a phony and a fraud. >> first up, though, futures are a little changed as stocks hover and jobless claims rising. that's a bit higher ahead of the number tomorrow. jpmorgan's jamie dimon joined "squawk box" earlier this morning and had a pretty upbeat take on the economy. take a listen. >> the average economy, more people are working, wages are going up. they're spending money, their balance sheet's in better shape since it's been recorded, the consumer. they're buying cars at all-time records. home sales are going up, home formations are going up. that's pretty good. we all want it to be better. >> the irony here is that jpmorg jpmorgan's desk underweights. they say if a recession happen this year, you're talking easily a 20% drop in the

aubrey mcclendon is gone. . latest details on his sudden death. >>> exxon's top tier credit rate cigarette it in jeopardy. >>> also the impact of crude's collapse what it's having on jobs. >>> and andrew is on a mission. ♪ >> so where are we supposed to go? >> the jpmorgan ceo summit is about to kick off and we cents andrew to track the fearless leader of the firm, jamie dimon joins us within the hour as the second hour of "squawk box" begins right now. ♪ >> announcer: live from the beating heart of business, new york city, this is "squawk box". >> welcome back to "squawk box" here on cnbc, first in business worldwide. i'm joe kernen along with becky quick, andrew has turned into j.r. trender. so weird to watch that. smarter. >> that's why we're playing "mission impossible" music. >> keep that you want. take three, camera. anyway. he's sitting here. okay. he's headed there, andrew is to the ceo summit to speak with jamie dimon. he'll join us in 30 minutes. futures at this hour are indicated down 13 points or so,

oil and gas executive aubrey mcclendon's suv slamming into a highway overpass. less than 24 hours after he was indicted. tonight, there are new 911 calls from witnesses, and the question, was this an accident? abc's clayton sandell on the case. >> reporter: this fiery crash, underpass, tonight is a mystery. >> i just heard a big bang and now there's smoke coming out -- >> reporter: in this charred suv, the body of energy tycoon aubrey mcclendon. >> the cab is completely crushed. >> oh my goodness, okay. what color? >> and there's fire -- >> and there's fire. >> reporter: cops say his speeding car veered left wednesday morning, straight into this wall. >> there was plenty of opportunity for him to correct or get back on the roadway, and that didn't occur. he went straight into the embankment. >> reporter: police don't know if the crash was an accident or intentional. but less than 24 hours earlier, mcclendon was indicted by a federal grand jury for allegedly conspired to fix prices for oil and gas leases. >> many, many white collar criminals take their life durin

aubrey mcclendon.ow him as the former ceo of chesapeake energy corporation. he is the victim in this particular crash. we're going to be monitoring the news conference, which will begin in a few minutes. just for background, we should let you know that mr. mcclendon was indicted yesterday by the justice department, he denied the charges, but was indicted basically with rigging bids on oil and gas leases in oklahoma, a charge once again that he denied. but that would have been a violation of the sherman act, punishable if convicted by ten years in prison. but once again, a tweet from the oklahoma city police department confirming that the victim in this morning's crash was 56-year-old former chesapeake ceo aubrey mcclendon. we'll be showing you some video taken earlier this morning by our affiliate in oklahoma city. we will also be monitoring the news conference which should begin in just a few moments. the speaker at that particular news conference will be information officer, captain baldorama. they'r

going back to aubrey mcclendon before his death.satement after indicted, just hours, he said he felt he was singled out as the only person in the oil and gas industry in more than 110 years since the sherman act became withto be accused of a law the joint bidding. is that a fair assessment? know the answer. i don't want to get into his legal issues. alix: to be sure, the inference is that aggressive, lease-bidding was at least part of the energy industry. is that true? tom: it could be, in areas you look at any hot plate from the various areas, they all get more aggressive as things are proven up. that was it august to you one person all of a sudden gets singled out, not that these practices were going on, but why now? did you have a feeling why the doj was interested in this? tom: no i don't. ofx: that was tom ward, ceo tapstone energy. been named by bloomberg is the potential other party. alix: he did not want to focus on that or go there. if is also a lawsuit against him from royalty individuals around the same topic. so he wante

tonight, without mcclendon, prosecutors say the charges will be dropped. sandell, abc news, denver. >> clayton, thank you. >>> we move on now to texas, and to a flight attendant accused of deliberately starting a fire while the passenger plane was in the air. the fbi now saying he confessed to igniting paper towels in a restroom during an american airlines flight from dallas to detroit last month. he allegedly wanted to portray himself as a hero for putting out the fire. no one was injured. the investigation continues there. >>> now, to one of america's best-known soccer stars making headlines tonight. brandi chastain today saying she will donate her brain to concussion research and the disease cte. of course, perhaps best remembered for that iconic image, celebrating team usa winning the world cup, unbelievably, that was 1999. abc's kayna whitworth on the mother and coach, and why she made this decision. >> reporter: tonight, the soccer star known for that celebration at the world cup coming forward about the dangers of the sport. 47-year-old brandi chast

the day before he died, mcclendon was indicted on big raking charges.our through ohio. for the severe weather have an impact on the ohio primary. we look at the forecast from fox news meteorologist maria molina. a worrying trend in football has been acknowledged by an nfl official. we will tell you what that is as well as the top ncaa tournament. the brackets have been released in one team could actually make history. u.s. stock market futures this morning. i sit down arrows. down 71. s&p futures down just over time. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ when you think about success, what does it look like? is it becoming a better professor by being a more adventurous student? is it one day giving your daughter the opportunity she deserves? is it finally witnessing all the artistic wonders of the natural world? whatever your definition of success is, helping you pursue it, is ours. t-i-a-a. lauren: a look at u.s. stock futures right now. that features down by seven points. s&p down by 10.5 and nasdaq giving u

mcclendon, a key player in the u.s. shale boom, helped to found chesapeake energy in 1989, before stepping down in 2013 after a series of investigations into his business practices. chesapeake filed a lawsuit against him in 2015, accusing him of misappropriating company data. he founded american energy partners after leaving chesapeake, where he served as chief executive. the company put out this statement. aubrey's tremendous leadership, vision, and passion for the energy industry had an impact on the community, the country, and the world. we're tremendously proud of his legacy and will continue to work hard to live up to the unmatched standards he set for excellence and integrity. mcclendon, a duke graduate, was a part owner of the national basketball association's oklahoma city thunder. he denied the charges filed against him. >> reaction is coming in from people inside and outside the oil industry. in a statement, t. boone pickens says, i've known aubrey mcclendon for 25 years. he was a major player in leading the s

mcclendon was considered a pioneer in the oil and natural gas drilling business. in 2010, he told lesley stahl on "60 minutes" that america was sitting on an energy gold mine. >> in the last few years, we've discovered the equivalent of two saudi arabias of oil in the form of natural gas in the united states. not one, but two. >> reporter: after the boom came the bust. he was forced out as c.e.o. of chesapeake in 2013. authorities say mcclendon was going faster than 50 miles an hour and was not wearing a seat belt but do not know if the accident was intentional. >> it's going to take our investigators approximately one to two weeks to completely finish the investigation and recreate the accident. but at this point in time it looks pretty cut and dried. >> reporter: investigators have pulled out the s.u.v.'s black box and, scott, they're hoping that box will tell them more about the circumstances of the accident. >> pelley: omar villafranca. thank you, omar. an urgent call for action against ovarian cancer next. nvesting ideas that instantly gives you an equity sum

. >> pelley: aubrey mcclendon looked every inch the tycoon. he took a tiny company, and with innovations to produce natural gas from shale, he made his chesapeake energy second only to exxon in gas production. wheel, he died in a one-car crash. the timing, suspicious. the circumstances, under investigation. here's omar villafranca. >> reporter: it was just after 9:00 this morning when 56-year-old aubrey mcclendon's s.u.v. crashed into the wall of this oklahoma city highway overpass and exploded into plaims. police captain paco balderrama. >> he pretty much drove straight into the wall. there was plenty of opportunity for him to correct and get back to the roadway and that didn't occur. >> reporter: the death of the former c.e.o. of chesapeake energy comes one day after the department of justice charged him with rigging bids on oil leases, a claim he denied. mcclendon was considered a pioneer in the oil and natural gas drilling business. the boon made chesapeake energy billions of dollars. in 2010, he told lesley stahl on "60 minutes" that amer

authorities say, mcclendon was going faster than 50 miles an seatbelt. but do not know if the accident was intentional. >> it will take our investigators one to two weeks to completely finish the accident. but at this point in time it looks pretty cut and dry. >> investigators have pulled out the suv's black box. scott they're hoping the bloks will tell them more about the circumstances of the accident. >> thank you, omar. >> an urgent call for action against ovarian cancer. >>> a government advisory board sounded an alarm about ovarian cancer. every year more than 22,000 women in the u.s. are diagnosed. because it is often caught too late, more than 14,000 die. dr. jon lapook has more on this. >> reporter: today's report know about ovarian cancer starting with the basic definition. though it is called ovarian cancer, it can start outside the ovary in the fallopian tubes or uterus. >> these are all tumors. >> dr. douglas levine heads the research lab and was one of the report authors. >> it is a collection of many different diseases. the subtypes of ovar

but less than 24 hours earlier, mcclendon was indicted by a federal grand jury for allegedly conspired to fix prices for oil >> many, many white collar criminals take their life during that time period, because they just cannot face the music. >> reporter: before he died, mcclendon said, "i will fight to prove my innocence and to clear my name." he was married with three grown children and part owner of the oklahoma thunder basketball team. tonight, without mcclendon, prosecutors say the charges will be dropped. >> clayton, thank you. >> you we move on now to texas, and to a flight attendant accused of deliberately starting a fire while the passenger plane was in the air. the fbi now saying he confessed to igniting paper towels in a restroom during an american airlines flight from dallas to detroit last month. he allegedly wanted to portray himself as a hero for putting out the fire. no one was injured. the investigation continues there. >>> now, to one of america's best-known soccer stars making headlines tonight. brandy chastain today saying she will donate her brain to concussion re

that his longtime friend of opry mcclendon -- of aubrey mcclendon.'ve had the privilege of being his friend for 23 years." what happens with tom ward? >> the case against mcclendon will be dropped because he is passed away -- has passed away. the investigation into this matter continues. sandridge wasn't named in the indictment specifically, but bloomberg reported they were the mcclendonany that conspired with. the investigation will have to continue. we will see whether there are other indictments that come with this. 242,000, that is the number for the month of february. a 47,000 increase over what the median forecast in our survey said. if you include provisions for the month of february and january, job creation is on a 228,000 average monthly pace matching what we saw in the year 2015. >> are these good jobs we are creating? >> that is the question, are they good jobs? i suspect that some of them are not great jobs. some of them are minimum wage and a little bit higher. it is the average income of american workers that is perceived as higher, bu

of theto play some tributes was a long time friend of aubrey mcclendon.s is not only a hard day for me, but a sad day. i had the privilege of being his partner for 23 years. he is the chairman and ceo of sandridge energy. what happens with sandridge energy? >> the case against the clinton will be dropped because he has passed away. that theade clear investigation into this continues. that theyreported were the other company that mcclendon conspired with allegedly. whetherhave to see there were other indictments that come from this. energye formed american and raised $10 billion. what is the future for that company? hismerican energy was second act and it had not gotten off the ground before he passed away. the test will be, can the management team, many who we brought from chesapeake, can they carried the day without the former leader? vonnie: who was working today to move this ahead? >> i think it is still a local story. the family is in mourning in these -- oklahoma city is in mourning because he was a huge figure. readingwe have been your stories and t

mcclendon kiddedwas considered pioneer, the boom made chesapeake bill yuchbz dollars.n 2010, he cold lesley stahl that america was sitting on an energy gold mine. >> we discovered the equivalent of two saudi arabias of oil in the form of natural gas in the united states, not one but two. >> reporter: after the boom came the bust. he was forced out as ceo of chesapeake in 2013. authorities say, mcclendon was going faster than 50 miles an hour and was not wearing a seatbelt. but do not know if the accident was intentional. >> it will take our investigators one to two weeks to completely finish the investigation and re-create the accident. but at this point in time it looks pretty cut and dry. >> investigators have pulled out the suv's black box. scott they're hoping the bloks will tell them more about the circumstances of the accident. >> thank you, omar. >> an urgent call for action against ovarian cancer. next. >>> a government advisory board sounded an alarm about ovarian cancer. every year more than 22,000 women in the u.s. are diagnosed. because it is often caught t

mcclendon was considered a pioneer in the oil and natural gas drilling business. the boom made chesapeake energy billions of dollars. in 2010, he cold lesley stahl on "60 minutes" that america was sitting on an energy gold mine. >> in the last few years we have discovered the equivalent 6 the form of natural gas in the united states, not one but two. >> reporter: after the boom came the bust. he was forced out as ceo of chesapeake in 2013. authorities say, mcclendon was going faster than 50 miles an hour and was not wearing a seatbelt. but do not know if the accident was intentional. >> it will take our investigators one to two weeks to completely finish the investigation and re-create the accident. but at this point in time it looks pretty cut and dry. >> investigators have pulled out the suv's black box. scott, they're hoping the box will tell them more about the circumstances of the accident. >> thank you, omar. >>> an urgent call for action next. >>> a government advisory board sounded an alarm about ovarian cancer. every year more than 22,000 women in the u.s

caroline: the big cofounder, aubrey mcclendon has died in a car crash.e was charged with rigging bids. mcclendon faced accusations that he conspired to keep the prices artificially low. police say he drove his car "at a heart rate of speed." he slammed into a bank embracement -- a bridge embankment. the german sports shoe maker says that income will continue. operations will increase 10% to 12%. purchasen will -- costs in asia. ukip prime minister david cameron and french resident will unveil a drone project later today. the two countries will commit to build a prototype on an unmanned aircraft. the most advanced vehicle in europe. they are among the companies expect to benefit from the project. that is your bloomberg business flash. manus: caroline, thank you very much. business leaders and politicians, the meeting in london. brexit, -- the annual conference. anna: ryan chilcote is there. joining us with john longworth. ryan. michael good morning. -- ryan: good morning did where -- in the heart of if you're a business that exports outside of and has the

government charged oil tycoon aubrey mcclendon for conspiracy. one day later, he died behind the wheel of his suv. the timing and circumstances have left some wondering if the crash might not have been an accident. wednesday, aubrey mcclendon's chevy tahoe crashed into the wall of an embankment and burst into flames. he had been traveling more than 50 miles an hour. >> he pretty much drove straight into the wall. there was plenty of opportunity for him to correct or get back on the roadway and that didn't occur. >> reporter: the accident occurred one day after the former ceo of chesapeake energy was indicted by the department of justice. he was charged with conspiring to rig bids for the purchase of oil and natural gas leases in northwest oklahoma. in a statement issued after the indictment, mcclendon denied any wrongdoing saying, i am proud of my track record in this industry, and i will fight to prove my innocence and to clear my name. under mcclendon's leadership, chesapeake energy made billions of dollars and transformed the energy business b

alix: aubrey mcclendon died in a car accident in oklahoma city.d the national gas producer in 1989 and saw its market value jumped to $35 billion in 2008. day after hees a was indicted by the department of justice for rigging bids for oil and natural gas leases. embankment and burst into flames. i spoke with the captain of the oklahoma city police department to see what the scene looked like. >> very falt. -- flat. you can see what is ahead of you. at the same time, we do not know what his metal condition -- medical condition. until the medical examiner can to a full autopsy, if he can with the remains, we will not know until then. alix: he was one of a handful of gentlemen who pioneered the shale revolution in the u.s. another was sharif suku. it was mcclendon that helped suki get an idea, the first exporter in the u.s. >> devastated. aubrey was a good friend. like me had a high tolerance for risk. we did things that were complementary for many years. he was actually one of the first people who gave me the idea of exporting energy from the united