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Tomcat,
Some of the cash you think they have from the last financials is obligated as part of settlements, so that might be part of it. They may have less than you think. The stock is a shell. The 10-K says that and the company's website suggests that as well. That's one reason why it trades lower, as it's a shell with no actual business. There is cash, and the NOLs are significant, but they don't have anything to generate revenue or even hope to generate revenue with at the moment. I know they are seeking to fix that, so if you want to buy and hold until something happens, that might be an okay move. It's up to you. The reasons I have are probably part of the answer to your question..
Good luck. Should you invest (or trade) here, I hope it works out well.
NRDE, with its cash and loss carryforwards looks like a real bargain, yet it trades lower?
What am I missing??
Tomcat
***** Got any pic of NRDE ( PU Ride ) vehicles ? cuz those pics have squat to do with this company
ENOUGH SAID
Saying it twice doesn’t make it any more relevant to NoRide’s future.
Nu Ride Inc. director acquires over $1.2m in company stock
Nu Ride Inc. (NASDAQ:NRDE), previously known as Lordstown Motors (OTC:NRDE) Corp., has seen significant purchasing activity from one of its directors, Andrew L. Sole. According to recent filings, Sole has acquired a substantial number of shares valued at over $1.2 million, indicating a strong vote of confidence in the motor vehicle company's future prospects.
Over a series of transactions, Sole purchased a total of 543,566 shares of Nu Ride Inc. common stock. The purchases occurred on three separate dates, with the prices per share ranging from $2.2474 to $2.3023. On March 14, 2024, Sole bought 52,603 shares at $2.2474 each. The following day, he added another 225,000 shares to his holdings, paying $2.3023 per share. The buying spree concluded on March 18, with Sole acquiring 264,963 shares at a price of $2.2987 each.
The total amount spent on these transactions amounted to $1,245,307, reflecting a notable investment by the director into the company. It's worth mentioning that these shares are held indirectly by Esopus Creek Value Series Fund LP - Series A, with Sole's pecuniary interest in the securities being the extent of his ownership claim, as per the footnotes in the filing.
This financial move by a key insider often garners the attention of investors, as it may signal insider beliefs about the company's valuation and future performance. Nu Ride Inc., with its focus on the automotive industry, particularly in the manufacturing of passenger car bodies, is at the forefront of a dynamic and evolving sector.
Investors and market watchers alike will be keeping a close eye on Nu Ride Inc. to see how this insider activity might align with the company's strategic direction and performance in the coming quarters.
InvestingPro Insights
Nu Ride Inc. (NASDAQ:NRDE) has captured the market's attention not only through insider buying activity but also through its intriguing financial metrics and analyst expectations. A key point to note from InvestingPro Tips is that analysts are forecasting sales growth for the current year, which could signal a positive outlook for the company's revenue trajectory. This aligns with the recent insider purchases, potentially indicating a belief in the company's growth potential. Additionally, despite the company's significant revenue growth over the last twelve months, Nu Ride Inc. is not expected to be profitable this year, which investors should consider when evaluating the company's near-term financial health.
Looking at the real-time metrics from InvestingPro, Nu Ride Inc. has a market capitalization of 30.58 million USD, which places it in the smaller spectrum of publicly traded companies. The company's Price to Book ratio as of the last twelve months stands at 2.07, which can offer insights into how the market values the company's net assets. The substantial revenue growth of 1106.19% over the last twelve months is particularly eye-catching, although it's important to reconcile this with the company's gross profit margin of -3812.39%, which indicates challenges in maintaining profitability.
For those interested in a deeper dive into Nu Ride Inc., there are additional InvestingPro Tips available that could provide further insights into the company's financial health and market performance. Remember to use coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where you can access a total of 16 additional tips for a comprehensive investment analysis.
https://www.investing.com/news/company-news/nu-ride-inc-director-acquires-over-12m-in-company-stock-93CH-3360747
The writing is on the wall. $NRDE to win largest lawsuit ever recorded. Insiders prepare for massive growth.
https://www.investing.com/news/company-news/nu-ride-inc-director-acquires-over-12m-in-company-stock-93CH-3360747
Correct, NRDE is a shell company.
The plan says nothing about EVs being made, so no VAN, no operations as of yet. That is correct. They never had a van, all references by even the reference poster were to something called a "truck". They bought the truck rights from Workhorse, and sold it to LandX.
I realize the current fantasy is that somehow, Nu Ride will wind up owning Foxconn, but that clearly won't happen. They won't regain the factory from the suit, nor should they want the factory. They have, at last count, something like 11 employees (+- a few here or there since that report). They have nothing to make. Given the claim that Foxconn isn't making any cars here, that infrastructure of car manufacturing just isn't there. Nu Ride, should they survive and continue in business, will likely do something else. I do think they will win some money from Foxconn, but it won't be billions. They haven't gone past the motion for dismissal yet. I do think they will settle.
In the mean time, the only reason to invest in the stock is the expectation that something may (or will) happen to leave shell status and have an actual business with actual revenue. They aren't there yet. I said earlier that I don't think this is a great short opportunity either, though there is clearly some short interest, about 574,000 as of the end of March. But given the small volumes, sub $5.00 price (which I think makes it difficult to short, at least for some investors), and low volatility, there are other things to worry about than the shorts holding this stock down in some vast as yet undetermined conspiracy.
Good luck. This has been interesting to follow, and seeing the recovery from bankruptcy was interesting, as it did feel like a liquidation (and they did liquidate many of their assets), but managed to emerge as a shell. We'll see if they "fill" that shell, and what the new business will look like. They do have some money, but not enough to return to EV design, unless there is a pot of money I am missing apart from the "hopeful" outcome from the Foxconn suit, which will probably be litigated for over another year unless they settle.
It does say "shell" in the 10-K, the actual filings not some musings of a YouTube guy or an automotive magazine.
***** Indeed ! that seems to the the norm for NRDE ( PU Ride ) nothing
Yup, my basher/stalker is on every post of mine. What does that say, I'm 100% right about everything and we all know it. Even the punk knows it. LoL SMH
***** LMAO ! On what grounds ? NRDE ( PU Ride ) is a shell - whoops
ENOUGH SAID
Nothing to do with NoRide…as usual.
Okay, I understand that is your opinion. You haven't made your case, though. It's still up to the courts, and not to us anyway.
What makes you think that Nu Ride (with no production of anything at the moment) will be awarded the C Model and the midsize truck? It's not in the filings. It's not in the court documents. It's just a dream on your part. Nu Ride, if they win anything, will get cash. I do think it is likely they will get cash. There are fraud allegations, but I don't see actual fraud (I know, neither your opinion, nor my opinion matters with the court). The filings seem to indicate that the actual dispute is over the investment agreement, and not over the plant sale. There is a sentence which maybe comes close to justifying your position in that Nu RIDE, then Lordstown, says that the investment deal supersedes the previous agreement, which included the plant. That could mean that their understanding is that the subsequent investment agreement also included the plant sale. That's not my reading, but the court will decide all that. If I am right, Nu Ride gets cash, so you should be happy. You'd be happier if they won like you think they will, but they probably won't get that much (Billions), and there will likely be an appeal or settlement later, once they get past the motion to dismiss, presuming that fails. This isn't going to happen quickly. It might not be resolved in 2024. I think they are just posturing for a settlement at this point. A motion to dismiss shouldn't take this long.
***** Got any pic of NRDE ( PU Ride ) vehicles ? cuz those pics have squat to do with this company
ENOUGH SAID
Or not.
And Steve Burns owns everything else.
Old non-news. Linked in doesn't help (or hurt your case at all. This isn't news.
***** How ? with meaningless pics of vehicles that don't even belong to NRDE ( PU Ride )
ENOUGH SAID
$NRDE Director Sole Andrew L. bought 700,000 shares and spent 1.25 million dollars of his own money?
Sole Andrew L.
2. Issuer Name and Ticker or Trading Symbol
NU RIDE INC. [ NRDE ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O ESOPUS CREEEK ADVISORS
LLC, 81 NEWTON LAME #307
3. Date of Earliest Transaction (MM/DD/YYYY)
3/14/2024
(Street)
EAST HAMPTON, NY 11937
4. If Amendment, Date Original Filed (MM/DD/YYYY) 6. Individual or Joint/Group Filing (Check Applicable Line)
_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed
Execution
Date, if any
3. Trans. Code
(Instr. 8)
4. Securities Acquired (A)
or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned
Following Reported Transaction(s)
(Instr. 3 and 4)
6.
Ownership
Form:
Direct (D)
or Indirect
(I) (Instr.
4)
7. Nature
of Indirect
Beneficial
Ownership
(Instr. 4)
Code V Amount
(A) or
(D) Price
Common Stock, par value $0.0001 3/14/2024 P 52,603 A $2.2474 210,037 I
By
Esopus
Creek
Value
Series
Fund LP -
Series
A (1)(2)
Common Stock, par value $0.0001 3/15/2024 P 225,000 A $2.3023 435,037 I
By
Esopus
Creek
Value
Series
Fund LP -
Series
A (1)(2)
Common Stock, par value $0.0001 3/18/2024 P 264,963 A $2.2987 700,000
https://www.otcmarkets.com/filing/conv_pdf?id=17420221&guid=smQ-kesITd2Pdth
***** REALLY ??? Gotta link to those NRDE ( PU Ride ) shorts being terrified ? - point in fact theres not much short interest let alone any in this shell company
BTW those vehicles have nothing to do with NRDE ( PU Ride ) - whoops
ENOUGH SAID
Shorts are definitely terrified with multi billion dollar win over Foxconn coming.
The word on the street is Foxconn will lose a pile of cash and world wide infrastructure built to steal LMC assets including MIH EV.
Everyone knows $NRDE, NU Ride Inc. will gainfully be granted 100% rights and owership to Lordstown Manufacturing Plant including $NRDE Director Andrew L. Sole, who bought 700,000 shares. Excellent sign for what's to come.
https://www.otcmarkets.com/filing/conv_pdf?id=17420221&guid=97Q-kKuJUT9mB3h
NoRide owns no IP or manufacturing capacity for a skateboarder, let alone a vehicle. Stop lying.
The fate of Fisker has nothing to do with NoRide. NoRide is no longer an EV manufacturer. In reality, it is a set of books with significant NOLs recorded in them. Those NOLs are NoRide’s main asset.
The BoD is looking to parlay those NOLs into something that will return value to NoRide shareholders and assuage their losses due to the bankruptcy.
Both companies are under NDA's because Foxconn is being sued for Billions.
Any info is rare and why you are responsible for conducting your own DD like I and I will share what I find through my personal deep dive DD as I know where to look.
LMC had a deal with Camping World that was put on hold because of the Endurance. This pic came out after Burns bought the Endurance Assets Only.
The Model C platform is a part of the MIH EV agreement that remains in the fraud case against Foxconn.
This one is a LMC model that stands alone. I suspect once lawsuit is finalized for Billions, that LandX may finalize an agreement that attaches their unique emblem to this model. These vehicles are real especially the Van. The new CEO and 5 member BOD are on it but because of the court ordered NDA, Mums the word.
I don't care about buying or selling. Everyone is responsible for their own DD. Because of the massive insider buying, I'm hoping for the best
One of the new BOD bought 700,000 shares of $NRDE for 1.25 Million dollars. Expect a massive PoP when insiders buy heavy like that. It's going to be big.
I don't think shorts are that terrified. However, at this time, I don't think this is a great short candidate, given 1) the lack of volume and 2) the lack of volatility. While this was RIDE and the early days of RIDEQ, this was a great short candidate, as companies going into bankruptcy are good options for shorts, though after filing for chapter 11, this did go up, so they do get burned. With only 575000 (approx) shorts and the average volume of 110000, I don't think the shorts will get burned too bad if there is a run here, as if there is a run the volume will be high enough for them to trade out. However, in that sense, holding, if you are a long, is a better bet, though at this time, there are better places to put your money.
I don't see $5 - 15 billion in damages, as there is no way to prove those types of damages. The only way that can possibly happen is with punitive damages, and that's a high bar even in civil cases. However, as I've said before, I do expect NuRide to get the money they are owed. I don't see fraud, at least to the extent you may think there is, but I do see a way forward with NuRide receiving cash. If NuRide receives cash, they won't receive the plant unless Foxconn settles and decides they don't want the plant anymore. I haven't seen any indication that they will want to do that, and your posts posting pictures of Foxconn cars suggests that they are sill interested in the EV business. It's unclear if NuRide is going to stay in the EV business, at this time. The 10-Q may provide more details in a few weeks. If they get past the dismissal motion (the last motion I see on the lawyer's website), then I think the companies will settle.
Good luck.
I think you may be using the wrong strait. Spell check wouldn't find that, though.
MMUX isn't proof. It's just some online You Tube person. Come back when you have proof. You have no proof. SMH. He or she believes conspiracy theories. It's even possible that MMUX is you, though I don't know. That doesn't really matter anyway. We're all entitled to our opinions, whether they be right or wrong. Many are mature enough to admit when you are wrong. You were wrong when you said they had over 200 employees a couple of months ago, when they had something like 11, which is a proven fact. Just admit mistakes. You can still be bullish, it won't hurt. There are reasons to be bullish, just not necessarily the reasons you say.
NoRide clearly rejected almost all their leases, including the Lordstown plant itself, per NoRide’s bankruptcy filings. NoRide doesn’t own any property…or IP.
I know YOU know that, but our demented friend doesn’t seem to get it.
"Use the county Tax Assessor that has the property tax information not a realtor. LoL SMH"
Don't know why you keep calling the Recorder of Deeds website a realtor website. This is Trumbull County's official record of propeertys' ownership. The official ownership record. Shows you didn't click on the link f you're thinking it's a realtor site.
Looking at the Recorder of Deeds page the final listing for LMC is FS termination on 10-18-2023. That is th date they stopped owning the property. All of the listing with the Trumbull Co Recorder of Deeds. Not some random page spittng out opinions.
1 LORDSTOWN MOTORS CORP Grantor GENERAL MOTORS LLC OPTION 201912050022766 202006150010494 * par: 45-192925 acr: 45.6887 twshp: LORDSTOWN town: 3 rge: 4 sec: 2 2019-12-05 Verified
2 LORDSTOWN MOTORS CORP Grantor GENERAL MOTORS LLC MORTGAGE 201912050022767 202010270021222* * par: 45-192925 acr: 45.6887 twshp: LORDSTOWN town: 3 rge: 4 sec: 2 2019-12-05 $40,000,000.00 Verified
3 LORDSTOWN MOTORS CORP Grantee GENERAL MOTORS LLC DEED 201912050022764 * par: 45-905470 acr: 45.6887 twshp: LORDSTOWN town: 3 rge: 4 sec: 2 2019-12-05 $80,000.00 Verified
4 LORDSTOWN MOTORS CORP Grantee GENERAL MOTORS LLC MINERAL DEED 201912050022765 par: 45-905430 acr: 173.477 twshp: LORDSTOWN town: 3 rge: 4 sec: 64,65,1 2019-12-05 Verified
5 LORDSTOWN MOTORS CORP Grantor TERMINATION OF SITE SEPARATION AGREEMENT AGREEMENT 202004020006064 201907220013323 * lt: 1 par: 45-192925 acr: 2.934 twshp: LORDSTOWN town: 3 rge: 4 sec: 64,65 2020-04-02 Verified
6 LORDSTOWN MOTORS CORP Grantor GENERAL MOTORS LLC MINERAL DEED 202004020006066 * lt: 1 acr: 173.477 twshp: LORDSTOWN town: 3 rge: 4 sec: 64,65 2020-04-02 Verified
7 LORDSTOWN MOTORS CORP Grantor GENERAL MOTORS LLC AGREEMENT 202006150010494 201912050022766 * par: 45-192925 acr: 45.6887 twshp: LORDSTOWN town: 3 rge: 4 sec: 2 2020-06-15 Verified
8 LORDSTOWN MOTORS CORP Grantor LORDSTOWN MOTORS CORP DEED 202010280021329 par: 45-905518 acr: 98.6132 twshp: LORDSTOWN town: 3 rge: 4 sec: 1,2,64,71 2020-10-28 Verified
9 LORDSTOWN MOTORS CORP Grantor LORDSTOWN MOTORS CORP DEED 202010280021330 par: 45-192905 acr: 386.6892 twshp: LORDSTOWN town: 3 rge: 4 sec: 1 2 3 64 7 2020-10-28 Verified
10 LORDSTOWN MOTORS CORP Grantee LORDSTOWN MOTORS CORP DEED 202010280021329 par: 45-905518 acr: 98.6132 twshp: LORDSTOWN town: 3 rge: 4 sec: 1,2,64,71 2020-10-28 Verified
11 LORDSTOWN MOTORS CORP Grantee LORDSTOWN MOTORS CORP DEED 202010280021330 par: 45-192905 acr: 386.6892 twshp: LORDSTOWN town: 3 rge: 4 sec: 1 2 3 64 7 2020-10-28 Verified
12 LORDSTOWN MOTORS CORP Grantor ULTIUM CELLS LLC AFFIDAVIT 202011230023302 202205160010096 * par: 45-905518 acr: 98.6132 twshp: LORDSTOWN town: 3 rge: 4 sec: 1,2,64,71 2020-11-23 Verified
13 LORDSTOWN MOTORS CORP Grantor ULTIUM CELLS LLC AFFIDAVIT 202011230023303 * par: 45-905518 acr: 98.6132 twshp: LORDSTOWN town: 3 rge: 4 sec: 1,2,64,71 2020-11-23 Verified
14 LORDSTOWN MOTORS CORP Grantee GENERAL MOTORS LLC MORTGAGE SATISFACTION 202011250023514 201912050022767 * acr: 98.613 twshp: LORDSTOWN town: 3 rge: 4 sec: 1,2,64,71 2020-11-25 Verified
15 LORDSTOWN MOTORS CORP Grantor INTEGRA EXCAVATING L L C NOTICE OF COMMENCEMENT 202108030017933 * par: 45-905471 acr: 152.0384 twshp: LORDSTOWN town: 3 rge: 4 sec: 63 64 72 2021-08-03 Verified
16 LORDSTOWN MOTORS Grantor INTEGRA EXCAVATING L L C NOTICE OF COMMENCEMENT 202108030017933 * par: 45-905471 acr: 152.0384 twshp: LORDSTOWN town: 3 rge: 4 sec: 63 64 72 2021-08-03 Verified
17 LORDSTOWN MOTORS CORP Grantor ULTIUM CELLS LLC EASEMENT 202205160010093 * par: 45-192925 acr: 45.6887 twshp: LORDSTOWN town: 3 rge: 4 sec: 2 2022-05-16 Verified
18 LORDSTOWN MOTORS CORP-FKA Grantor ULTIUM CELLS LLC EASEMENT 202205160010094 * par: 45-192925 acr: 45.6887 twshp: LORDSTOWN town: 3 rge: 4 sec: 2 2022-05-16 Verified
19 LORDSTOWN MOTORS CORP-FKA Grantor ULTIUM CELLS LLC AGREEMENT 202205160010096 202011230023302 * par: 45-905518 acr: 98.6132 twshp: LORDSTOWN town: 3 rge: 4 sec: 1-2, 64, 7 2022-05-16 Verified
20 LORDSTOWN MOTORS CORP Debtor U S BANK NATIONAL ASSOCIATION-TR FS TERMINATION 202310180017054 201004080005881* * acr: 187.239 twshp: LORDSTOWN town: 3 rge: 4 sec: 71 72 2023-10-18 Verified
Above copied from here:
https://records.co.trumbull.oh.us/PAXWorld/views/search
The OTHER PARTY column is adjoining properties as seen on the plot map I linked to earler.
So once again you won't back up your opinion (I refuse to call what you are writing facts as most of what you have written have been proven time and time again as false) whilst everyone else does back up what they write.
***** REALLY ??? Gotta link to those NRDE ( PU Ride ) shorters being scared ? - point in fact theres not much short interest let alone any in this shell company - whoops
ENOUGH SAID
***** Yup ! Meaningless period ! - got any pics of NRDE ( PU Ride ) vehicles ? cuz those have squat to do with this shell company - whoops !
Ahaha the ole hedge fund manger conspiracy theory when a stock goes bankrupt due to shady management
ENOUGH SAID
It's meaningless that $NRDE Director Sole Andrew L. bought 700,000 shares and spent 1.25 million dollars of his own money? Really? LoL, SMH
No, what you say is meaningless bull shit. LoL
Hedge Fund managers are going to get a wake up call really soon and lose everything over a penny stock that wipes the floor with them. LoL It will be beautiful.
https://www.otcmarkets.com/filing/conv_pdf?id=17420221&guid=97Q-kKuJUT9mB3h
***** NOPE ! NRDE ( PU Ride ) will never see those ridiculous numbers even if a R/S is issued ! whoops
ENOUGH SAID
$NRDE will soar to $100 to $500 when LMC wins big over Foxconn. NU Ride Inc. will win against Foxconn in a very big way and Trump bashers bull shit. The writing is on the wall. With this tiny SS. Shorts don't stand a chance.
New BOD was carefully selected with Diamond Peak to take NU Ride Inc. to unprecedented levels, never seen before.
Legacy Lordstown Motors is a subsidiary of NU Ride Inc.
***** Meaningless !!! NRDE ( PU Ride ) is a shell no more - just a ploy to suck in naïve investors
ENOUGH SAID
$NRDE Director Sole Andrew L. bought 700,000 shares. Excellent sign for what's to come.
https://www.otcmarkets.com/filing/conv_pdf?id=17420221&guid=97Q-kKuJUT9mB3h
The Legacy Lordstown Motors is a subsidiary of NU Ride Inc
This stock is going strait up and there is nothing that will stop it. Soft Bank is involved. When NU Ride Inc. explodes strait north, you will know the truth. Central Banks and Hedge Fund associates will crash because of it and many other stocks are going up with it.
Good Luck
I posted the video already from MXUX explaining everything.
Use the county Tax Assessor that has the property tax information not a realtor. LoL SMH
***** NU Ride needs to fire its promotional awareness campaign manager asap
ENOUGH SAID
If NuRide owns the property show us.
Here is my proof that FoxConn owns the properties.
https://beacon.schneidercorp.com/Application.aspx?AppID=1121&LayerID=28255&PageTypeID=1&PageID=11608
Trumbull County parcel map showing owners of record. The is no NuRide./LMC/Steve Burns/LAS/3M Partners shown. Only Foxconn shows as property owners.
Foxconn has property numbers ;
45-192905 386.69 ac valuation $52,393,600
45-905469 13.57 ac valuation $27,100
45-905471 152.04 ac valuation $17643,700
Nu Ride's new five-person board is expected to appoint William Gallagher, managing director of M3 Partners — a transaction advisory firm in New York — as Nu Ride's president and CEO, according to the regulatory filing.
Gallagher faced a situation similar to Nu Ride as CEO at WMIH Corp., the public acquisition corporation that succeeded Washington Mutual Inc. — the parent of WaMu Bank in Seattle that was seized by federal thrift regulators in fall 2008. By January 2015, the shell company left over from the failure of Washington Mutual had raised close to $600 million to pursue acquisitions of financial companies that could benefit from its huge, tax-deductible losses, according to a report by the Seattle Times.
Gallagher took over as leader of WMIH in May 2015 "to oversee its acquisition strategy and manage its day-to-day affairs," according to M3 Partners.
He was responsible for "reviewing, vetting and analyzing a large number of potential target companies from a variety of different sectors and industry groups," M3 says.
"Ultimately, WMIH acquired Nationstar Mortgage Holdings to form Mr. Cooper Group," M3 says. Gallagher departed from WMIH after closing the Nationstar acquisition in July 2018.
Bill Gallagher has more than 35 years of experience in finance, investment and financial restructurings. He brings deep expertise in credit analysis and has long-term management experience in the financial services industry.
Prior to joining M3, Bill was the Chief Executive Officer at WMIH Corp (NASDAQ:WMIH), a public acquisition corporation which was the successor to Washington Mutual, Inc., from May 2015 to July 2018. Bill was recruited to WMIH to oversee its acquisition strategy and manage its day-to-day affairs. While there, he worked closely with WMIH’s strategic financial partner, Kohlberg Kravis Roberts & Co. At WMIH, Bill’s responsibilities included reviewing, vetting and analyzing a large number of potential target companies from a variety of different sectors and industry groups. Ultimately, WMIH acquired Nationstar Mortgage Holdings (NYSE symbol NSM) to form Mr. Cooper Group (NASDAQ:COOP). Bill departed from WMIH upon the closing of the acquisition of Nationstar as his job at WMIH was completed.
Prior to WMIH, Bill was CEO and Chief Risk Officer at Capmark Financial Group, formerly known as GMAC Commercial Mortgage (from March 2009 to May 2015). Bill was retained by Capmark to manage its financial restructuring following the global economic crisis and was responsible for the management of the company’s day-to-day affairs, the restructuring of both the company and its assets (including its $15 billion commercial loan portfolio), its bankruptcy process, and its winding down and distribution of assets to creditors and other stakeholders. Capmark was a highly successful restructuring as Bill and his colleagues significantly increased the recovery value to Capmark’s creditors.
Before joining Capmark, Bill was the Chief Credit Officer of RBS Greenwich Capital, the US fixed income investment banking business of the Royal Bank of Scotland, where he was responsible for all aspects of credit risk management. While at RBS Greenwich, Bill was responsible for a wide variety of US corporations and buy-side companies, including corporate borrowers and debt issuers, financial institutions, industrial companies with captive finance businesses, and a variety of US corporations who traded various securities with or through RBS Greenwich.
Earlier in his career, Bill was a Vice President at First Boston Corporation in that firm’s credit risk management department. At First Boston, Bill was responsible for managing credit risk to a wide variety of corporate issuers and financial institutions. Bill began his career at Chemical Bank, where he completed the bank’s credit training program and then worked as a loan officer in the middle market division and a credit officer in the financial institutions division.
Bill has a B.S. in business administration from Syracuse University and an MBA from New York University.
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