mr. 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

mr. mcclendon. mayor, thank you for joining us on bloomberg. ust heard from ch souki and from our own joe carroll. tell us what mcclendon did for oklahoma. >> he did a lot for oklahoma and for the united states, being a publicist and an early visionary of the future for the oil and gas production in the united states. nobody realize the consequences of being able to drill laterally through these shales in the way say,aubrey did, and as you he never forgot where he came from. lix: and, bill, i want to say that i am very sorry for your loss. i know you were friends with aubrey mcclendon. he 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 cr

mr. aubrey mcclendon.ion i have right now is his vehicle, which was identified as a 2013 chevy tahoe was traveling northbound on midwest boulevard 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 the accident. once again, it appears that speed was most definitely a factor in the pa at that time. it would take our investigators one to two weeks to complete the investigation, and it appears to be cut-and-dried to what happened. the medical examiner will make the final determination as the cause of death. we do work fatalities accidents where people have medical episodes just prior to the collision, but that's all the information i have right now. any questions? >> reporter: is there any indication that had el tried to stop the kar? >> he pretty much drove straight into the wall. the information and evid

mr. mcclendon was due in court mid-morning today on those charges. mcclendon pushed back say, quote, the charge that has been filed today against me is wrong and unprecedented. all my life i've worked to create jobs in oklahoma, grow its economy and provide abundant and affordable energy to all americans, so he had also hired a law firm to defend himself. at this point police are not speculating on what the cause of the crash was. they are going to investigate and take a look at the data on the computer in his car. now, that indictment not only cited mcclendon. it also cited an unnamed second party. another oil and/or gas or energy company. there are unconfirmed reports by bloomberg citing unnamed sources that that other party is sanbridge energy. cnbc has not confirmed that. reuters has not confirmed that. that's an unconfirmed bloomberg report. sanbridge's stock did move down on that report. melissa, you are up to date. back to you. >> thank you, very much, sue herrera. let's bring in dennis gartman of "the gartman letter" who joins us on the "fast"

mr. mcclendon drove into a wall at a speed of well over 40 miles per hour. the vehicle was so badly burned that police were unable to tell if mcclendon was wearing his seat belt. aubrey mcclendon, dead in a car wreck, one day after being indicted on conspiracy charges. more details as we get it. but the stock oddly is now jumping nearly 32% at the moment. it was already up 10% after he was indicted but jumped another 20% on this news. we can't venture to guess why that's happening. we have the breaking news, we'll get you more as we get it. >>> the month started with a liftoff, stalled out right now. we can look at the numbers here. the dow jones industrials and the s&p going in different directions but the s&p up by nearly just one point, an early jump in oil didn't help the markets. oil hit $35 per barrel for the first time since january 6th. this following reports, this is odd, you would venture to figure this goes in the opposite direction. u.s. stockpiles of crude surged last week. you would think the price would come down, it's gone up. we're right wher

mr. mcclendon, no doubt, a pioneer in many ways beginning in 1989, buying up vast tracks of land, really introducing the idea the use of fracking for natural gas. and in a sense creating the environment that led to significant financial losses down the road given the abundance of natural gas in this country, specific to yesterday's events, mr. mcclen con wdon was supposed to present himself, turn himself in at 11:00 a.m. he got in the crash somewhere around 9:00 in the morning, i believe it was, perhaps a bit later, but never made it to that designated time to turn himself in. in speaking to a number of people over late yesterday and this morning who are both his friends and his financiers and people who are eninvolved in his business life, they describe it as scott said, so many ups and so many downs, at one point a billionaire. most recently having spent both $10 billion in equity that had been raised. perhaps as much as his new company after leaving chesapeake a couple of years ago. it wasn't clear that he had anything left. and, in fact, the indictment itself may have really presente

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 philanthropic efforts, absolutely phenomenal. when it comes to accuracy in terms of the overall trend, expression, never -- you can bet against john in the m

mr. mcclendon's death. >> the high yield bond market setting an 8-year high for inflows, 5.2 billion wentld bond funds and that puts hyg into positive territory year to date and high yield which tends to be a little risky too. still a good place for your money. that will be -- we're not going to talk about the tpp, but the hyg and that's okay. our cosmetics line was a hit. the orders were rushing in. i could feel our deadlines racing towards us. we didn't need a loan. we needed short-term funding fast. building 18 homes in 4 ½ months? that was a leap. but i knew i could rely on american express to help me buy those building materials. amex helped me buy the inventory i needed. our amex helped us fill the orders. just like that. another step on the journey. will you be ready when growth presents itself? realize your buying power at open.com >>> welcome back. i'm melissa lee. look at this chart from bank of america of the investors pouring more than $5 million into high yield funds and that is the largest weekly inflow on record. at the same time government bond funds saw the highest outflo

mr. mcclendon personally, never met him, but he was one of the real leaders in what has now been he shell revolution. we all know the degree of turn around in the u.s. production, driven by technology, not by technology or anything else, but by tech knoll and the private sector, has been one of the most remarkable economic developments in 100 years. stephanie: especially in the state of oklahoma. changed oklahoma. roger: well, more than that, north dakota, big parts of texas and so forth. but, you know, just five years ago, six years ago perhaps, u.s. oil production had hit a 30-year low, barrels per day. and today our imports are down five ut $5 billion, and million barrels a day, rather, and wee become an energy power house again. in fact, north america as a whole is energy self-sufficient, which is astonishing given where we were five, six years ago, and shale has driven much of that. some of it's also canada, some prospects from mexico, improving its production. but fundamentally mcclendon was one of the pioneers. john: total production now, it is truly remarkable with crude productio

mcclendon stepped down and is now with american energy partners and mr. is planning to represent mr. mcclendon in that case. >> i'm not a lawyer. i can't represent him. he has a right to presumed innocence. i don't think the way it's being spun today that it's presumed innocence in my opinion. >>> and csx rebuffed a january takeover bid from canadian pacific. it is committed to a sprite norfolk southern bid that wants to keep options open. >> a few other stocks on the move this morning to tell you about. ambercrombie & fitch nine cents better than expected. they registered their first same store sales gain in over five years. >>> hillary clinton and donald trump dominating super tuesday but no sign that the rest of the field is going to move to the sidelines any time soon. john harwood joins us with more. hello again. >> you know, you're right. they're not moving to the sidelines. the question is is there a viable play they can call to try to win this game against donald trump. you've got marco rubio, john kasich, ted cruz, all of them have arguments to m

mr. mcclendon had been separated from the companies. of course, that was before he died. that was after the indictment. so that's pretty much the scope of all the different enterprises. i think it really remains to be seen and probably we have to await the results of this police investigation to find out exactly what happened. >> okay. brad, thank you for coming in this morning. >> thanks a lot. appreciate it. >> let's get another check on the markets this morning. as we showed you, the futures are slightly positive after an up day yesterday once again. markets bounced around a little bit. at the end of the day, the dow was up by about 34 points. you can see this morning that the futures are just barely hanging in there. >> was that at the end of the day? >> literally at the end of the day. >> that was usable there. >> i should say at 4:00 p.m. the dow was up. >> so at the end of the trading session. but at the end of the day, the markets higher for march. >> well, i guess you could describe it that way. at the end of the day, we're going to see. let's take a quick look a