Sears Holdings Corp. (fka SHLDQ)

[StrategyTrader]

Send her on Twitter to stop bashing Sears I did many others as well

[StrategyTrader]

Short sellers are betting on the huge odds that Judge will not approve the sale when approved this week short sellers will pay hefty :)

[buxcapital]

I don’t think many people bought when this was .65-.79 that’s gonna help shorts profit faster .65 if far away and a dream so no worries about anything higher boys and girls get ready for the win!

[buxcapital]

I think will be fine by the EOW Monday flippers will pop this but before the weeks up I think .30s will see who right or closer To the truth !

[StrategyTrader]

Short sellers terrified from the inevitable ripp short sellers starting next week.

[StrategyTrader]

Short sellers ripped tomorrow be aware

[growingpains]

40,000 people & countless lives will prevail & the few greedy rebellious souls will LOOSE all- REMemBeR That

[growingpains]

Judge Drain is Highly Educated Shorts Borrowed $, time & Greed will fail

[jimr1717]

8 cents soon hope you sold

[StockRoomBully]

Well, if you watched the interview. She had admitted buying shares and doubling her profits back then. She Just bitter . imo

[emit]

Hope to be smiling with you on the next winner.


wtg


emit...

[IL Padrino]

Good info. We still have a long way to go it seems.

[inouttrader]

BUY,BUY,BUY...LOAD UP. .AS MANY COMPANIES BEEN DOING...JMO

[swingingRichard]

Review the volume and the dollar-volume. There is nothing to support the idea that "whales" are in the fiasco. SHLD is screwed.

 
   Volume          Dollar Volume 
 1,534,740           $ 845.89k

[Orion1972]

I wonder if Warren knows this law.

Obstruction by Intimidation, Threats, Persuasion, or Deception (18
U.S.C. 1512(b)
The second group of offenses within §1512 outlaws obstruction of federal congressional, judicial,
or administrative activities by intimidation, threat, corrupt persuasion, or deception, 18 U.S.C.
1512(b). Parsed to its elements, subsection 1512(b) provides that:
I. Whoever
II. knowingly
A. uses intimidation
B. threatens, or
C. corruptly persuades another person, or
D. attempts to do so, or
E. 1. engages in misleading conduct60
2. toward another person,
III. with intent to
A. 1. a. influence,
b. delay,

[CaptStockWolf]

The thing that annoys me is crazy ppl like senator warren coming out of the dumpster bashing sears trying to influence the judges decision.

[StockRoomBully]

LET THE JUDGE DECIDE

SO WE GONNA ACT LIKE WE ARE NOT ANNOYED BY THESE WANNABEE JUDGES TRYNA FIGURE OUT UNQUESTIONING EVERY DOCKET.

NOTICED BIG WHALES BOUGHT AND CHILLIN WAITING ON JUDGE TO RULE.

GEEZ GIVE IT A BREAK. JUDGE WILL MAKE THAT DECISION. THAT SIMPLE.

ITS LIKE GOING ON YOUR FIRST DATE. YOU THINK THAT DATE NOT HAD ANY DOUBTS NOT SHOWING UP. BUT DID THEY?

WHEN THEY THOUGHT IT WASNT GONNA HAPPENED
5.2 BILLION
JOB SAVE

WHAT HE DID WWSNT A COMMON THING TO DO THEY WANTED IT TO DIE

.THE REWARDS OUTWEIGHS THE RISK

[CaptStockWolf]

http://www.woodllp.com/Publications/Articles/ma/030301.htm from my understanding it makes all the sense to keep the commons because of Nols tax benefit. If there is a transfer of ownership then section 382 of the tax code kicks in limiting the amount of nols that can be used.

From the article

now If section 382 applies, it limits the amount of taxable income that can be offset by NOL carryovers to an amount equal to the value of the loss corporation multiplied by the long-term tax exempt rate. Thus, even where section 382 applies, it does not disallow or eradicate NOLs. Rather, it limits the NOLs that can be used in any one year to offset income following the ownership change.

[trades4ever74]

So is Sears done. Sears in novi michigan is having a store closing sale. Are they all closing down or is this a good time to buy shares.

[justthefactsmam]

Judge Drain has said he expects the hearing will spill into multiple days and that he could issue his ruling from the bench at the end of the process. The filings show that Sears hopes to have a decision approving the sale by Friday February 8, and that it hopes to close the sale by February 19.

Not all the objections filed in the case are seeking to have the the company liquidate. Most are arguing specific objections to one or more terms of the proposed sale. If Judge Drain agrees with some of the objections, it could kill the deal and leave no choice but liquidation.

So far, the judge has appeared to be giving Sears every chance to save itself. At a January 18 hearing he said "it would be a very good thing" if there were a way to save the 45,000 jobs at Sears and Kmart. But those employees are not the top priority under the nation's bankruptcy law.

Instead, the hearing will focus on returning as much money as possible to those who are owed money from Sears. And the committee of major creditors objecting to the deal are owed more than $3 billion. They have argued repeatedly they don't believe it makes sense to try to save Sears. They called the plan to stay in business "nothing more than wishful thinking " and "an unjustified and foolhardy gamble with other people's money," in one of their filings.

https://www.kion546.com/news/economy/sears-moment-of-truth-is-coming/998976747

[justthefactsmam]

linda,

have you spent any time with page 85 of docket 2339?

it is put forth as an example of how a 363 exchange would/might work as a tax reorg.

deloitte cites an irs letter ruling 201025018 which they utilized to prepare this chart. although private letter rulings can not be relied on by other parties, it does provide evidence of what might be able to be done in this case. i downloaded that letter ruling and it does track with the diagram but doesn't specifically provide for shareholders.

what bothers me about the diagram example is the "strike line" between the SH's (shareholder) circle and that of the Debtor. certainly seems to imply shareholders are disenfranchised in some way. any thoughts on that?

that aside, as i see it, the diagram applies in our case in the following ways from what i have gleaned from the various docs and comments.

newco is esl and the lenders 1 and 2 are representative of the bank lenders esl lined up when they made their final bid which was approved by shc.

newco (esl) is providing $5.2 billion in consideration to debtor (shc and its various subsidiaries).

part of esl's bid was a "credit bid" which served as a cancellation of debt "cod" and which probably also served to reduce a portion of the nol benefit. in exchange for that cancellation of debt, esl (according to the transcript of the auction sale) received stock in newco.

when the debtor offered to sell esl certain assets, shc retained the unwanted assets. my assumption is the unwanted assets were the locations which were closed and are currently in the process of being liquidated an/or monetized in some way. what assets other than the announced store closures are being retained by shc i do not know.

if esl's bid is approved, shc must liquidate its remaining assets in some discrete period of time in order to preserve whatever nol's esl might be able to utilize. in other words, shc can not drag out the liquidation process for years.

deducting $1.3 from the $5.2 bid leaves $3.9 billion going to the debtors from esl. the "apa" provided for the rollover of senior debt and provided for paying off the 2020 real estate loan ($544 million) and various items associated with the second lien term notes, credit facility and pik notes ($433 million). that takes the consideration down to $2.9 billion.

seems like the fly in the ointment will be unsecured creditors. going back to the diagram, it says the debtors plan to liquidate, distributing it remaining assets to debtors claimholders (unsecureds?). guessing the unsecureds don't feel those proceeds will be enough to make them whole and they want complete liquidation.

notice also that part of the consideration to debtors from newco is common stock and warrants of newco (which debtors say they may sell. possible that unsecureds don't want to have to take stock and warrants in newco as part of their consideration (although the judge could force that).

SO, while this diagram doesn't show any consideration going to common shareholders, the provisions of executing a 363 exchange certainly do indicate the composition of newco be similar to that of what was acquired. this is where all of the discussion of not having commons wiped out comes into play.

it certainly seems since the debtors are getting newco shares and newco is not getting shc shares that there will be a shldq cancellation with the elephant in the room being whether or not newco shares are distributed to shc shareholders in some prorata way.

if shares of newco are considered to be of greater value than the shares being surrendered, then one could expect the exchange would not be 1 to 1.

so much is left undone regarding how this restructuring will be handled pending judge drain's ruling this week. if approved, then there will begin some real work on a por, holdco's structure, liquidation of those things for which sears will be responsible, the execution of a cooperation agreement (not the exact term but a docket was recently filed indicating that would be coming).

posting excerpts from a very recent article commenting on judge drain's activities this week after i submit this.

[BBANBOB]

I know and shouldn't have said you, should have said DO ANY REALLY BELIEVE he would!!!!!!!!! my bad

[linda1]

I read in a WMI 10-Q filing that it had approx $ 7.5 B
in NOLs when it exited Bankruptcy - which were
later reduced to approx $ 6 B due to an ownership
change when it issued the new WMIH Commons.

If the WMI POR based the distribution of the
new Commons on the valuation of the NOLs and
remaining estate Assets, then that could explain why
the Shareholders received some of the new Commons.

$ 7.5 B NOLs = $ 7.5 B Preferred Shares.

The value of remaining estate assets = new Commons
for Shareholders.

If the Sears’ Unsecured Creditors are owed $ 3.5 B
and the Tax Attributes are $ 6 + B, then that should
equate to the Commons also receiving new Commons
for the remaining value of the NOLs.

[BBANBOB]

Linda yes there is a large unpaid debt of 13 bill, but along those same line how then did WMIH obtain a 2.7 bill $$$$$$$$$$$$ bridge loan to buy NSM a NYSE listed company

Can ya say

THINGS THAT MAKE ME GO HMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM

I can and do

[BBANBOB]

THEY KNOCKED OUT THE APR there which as I am sure you know is , UNPRECEDENTED!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Weird chit goes on in these BK's right

[Large Green]

linda1, we still do not know for sure as the court registry accounts are sealed. There are three Wells Fargo accounts were set up early on and those to are restricted for now.

Once the last creditor is paid which will be before the end of Feb/2019 and the case is closed sometime in 2019, we should then know more about the flow of monies from Safe Harbor bankruptcy remote sources and those sealed accounts.

[linda1]

Have they received any monies at all from JPM?

That is a very large Debt of $14 B to go unpaid
for so long.

[Large Green]

Just another reason why I think commons are very solid here and will be left intact by themselves or through an exchange BUT whatever they do the tax attributes (NOLs) will be a LARGE priority in my view.

[Large Green]

linda1, the Junior Bondholders are in Tranche five and they are not paid off yet in the ongoing WaMu bankruptcy case that will now be closed within two months BUT are the responsibility of JPM which total around 14 billion.

[CaptStockWolf]

Possible 4 dollar bullish move if all goes well

[TRUSTUNITS1000000]

Missed our, pay 0.2 sell st .4 buy back .2 so if goes to zero break even

[TRUSTUNITS1000000]

Getting interesting around here

[linda1]

So were all of the Junior Bond Holders paid off
without new WMIH Common Shares?

[linda1]

Thank you for the correction.

Do you recall the approx $ amount of outstanding
Debt/Preferred Shares that received the
new WMIH Commons?

I ask because according to current filings by the Debtors
in the Bankruptcy Proceedings, it states that
the General Unsecured Creditors will receive 1%
recovery from the ESL Sale. I think this is the $ 35 M
paid to accept the ESL Credit Bid.

If correct - then the 1% means there is approx $ 3.5 B
in General Unsecured Claims which will likely receive
most/all of the new Commons in a reorganized Sears
Holdings.

[CaptStockWolf]

I’m holding from loading Friday. I’m riding this out. Fearless baby.

[Volcano]

Super week approaching

[inouttrader]

OHHHHHH LAWD THE DRAMAS HERE CONTINUE. .. THIS IS A NO BRAINER...DOLLARLAND BOUND AND MORE....JMO

[justthefactsmam]

no, never have said i think commons will be cancelled. as i have posted many weeks ago, i am long and at this point will continue to remain long.

seems like too many want to dream about what might be and ignore documents readily available which could be used to try to figure out where this may actually go as opposed to where one wishes it might go, based on virtually nothing.

[Volcano]

Final judgement day

[Large Green]

Releases had to be signed and returned by 3/2012 so when that was accomplished only 1.2 billions signed timely releases which is the number that counts.

[Orion1972]

Duck!

[BeamMeUpScotty]

How high did that one run to and over what period?

I still believe that as soon as the Q comes off that we will start seeing updates.

Considering the size of Sears even though that in many respects it is a shadow of it’s former self, I still think the market will receive those updates well and that they’ll be beneficial to the share price.

Let’s not forget once we get over $1 a whole new type of trader will start buying the stock.

I think we’ve already seen what that type of trader can do when we’ve see that controlled systemic buying and the bid support moves up each time to support the move.

So we’ve seen what a more sophisticated type of big board trader/ group can do with the share price.

I’d wouldn’t be surprised if the hedge funds who have such large chunks of shares which are all notifiable holdings start buying if ESL is successful as most of us here believe they will. They have a vested interest in ensuring the share price steadily appreciates and also making shorty cover.

If the company changes its name and CUSIP all at the same time all uncovered shorts have to be covered in the market at the prevailing price!

Some might have been lucky enough to have been in CY*NK which ran from pennies to $22 purely on a short squeeze.

I wonder what plans all the multiple hedge funds that hold so much stock have.

I think they’re more likely to take the price up say 20-30% <——- basically a steady systematic rise every day.

If the price graph rises at an angle steeper than 45 degrees the share price will fall back. If the share price rises more gradually we will keep those gains.

[BBANBOB]

interesting thanks

[Large Green]

Yes, linda1, the o/s with WMIH before Exchange was 1.2 billion common shares and there was also two preferred offerings that were turned into NewCo commons as well when the exchange happened. So on the Effective Date of 3/19/2012 there was a total of 200 million outstanding and then the 12-1 RS happens in 2018 making for around 91million o/s of WMIH/COOP.

AND now for the funny fact and that is SHLDQ still only has a total of 109 million shares o/s shares and a beautiful share structure in comparison so no doubt common will be solid in my view.

[BBANBOB]

For what and THERE IS NOW NO WMI except in BK Chap 11 which is apparently about to be closed out. Also all DA BOYZ heavy hitters DID sign off and they imho would have been the ones to do that if there was any recovery there and they did not

[CorruptionFighter]

Thanks Orion. Are you a Duck or grad? My ex wife went to OSU and many friends are Ducks. The civil war brings out the best in them, LOL! Great campus and location.

CF

[linda1]

Sounds like Shareholders who wanted to sue WMI?

[buxcapital]

;$

[BeamMeUpScotty]

It’s been said that due to the weight of US coins tails is likely to come up 60% of the time. So pick tails in future! Lol

[Orion1972]

could it be political and Warren showed her hand? because money wise it make no sense.