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She will have to pay for that. I am sure!
Reassuring mail from Christine of csirgroup +
Annual report:
Durant facility operating soon.
Look like Net Income was at Up in 09 at $18,946,000 compared to 08's loss of $ (14,937,000)
Company planning to open 10 to 12 fuel stations
Here is the email I got:
""Obviously there are more sellers then buyers. The company is trying to change that. Maybe the other 10,000 shareholders decided to sell after the reverse. I am told there will be an update coming on the fuel stations, with additional info coming on the one in Dallas but not sure of timing.
The company does not own PNG Ventures. It was taken over by the largest debt holder a year ago. Its not being run well, and some of those debtors have mentioned letting Evolution run it. But that's all hypothetical, as it currently stands the company is a small equity holder, and have been severely diluted by the debt holders.
The dividends began going out 2 weeks ago. If you're shares are held in street name, then ask your broker. The company sent them out as they stated in the press release. If you have a stock certificate then you should have a dividend certificate in your hands by now, unless you live overseas as you need to give that more time.
The company will be filing their year end report shortly and the shares outstanding will be made public. [[color=red]b]The co has no interest in doing a reverse again.[/color]Hope all is well.
Sent via BlackBerry, so please excuse any typos." "
How are things looking for wamu now regarding to congress?
21 april is an important date right?
Every day I get more confident WAMU is winning the case.
95% there will be a settlement
2.5% wamuq loses entirely
2.5% wamu will be releived out of chapter 11 and will go on on its own
on evfn
The more silent the EC is, the better the outcome.
In Belgium we have an expression:" Dogs that bark don't bite."
IMO we will get a reasonable settlement. 4-6 dollar/share or more
Thank you. Good job!!!
I don't know when the quarterly earnings come out. But senator, I think evfn will show their annual report tomorrow pre or postmarket. I've heard some whispering that an update of some issues will come very soon. (strong buy: ssev and evfn)
I agree. The EC should not show their cards in this major league poker game.
Indeed!!! Eventually they will have to pay us. The longer they wait, the higher the price!
BTW Killinger did a great job yesterday. Being sincere, polite, honest. He showed all the ingredients you need before congress.
Plus the press is backing us now too!
NY times article support the theory and the fact that wamu was seized as a sacrificial lamb to make the public feel the impact of financial crisis, while Paulson/FDIC was busy saving wallstreet banks and investment firms.
OTS says wamu was solvent.
CEO Kilinger says wamu was wrongly seized, without giving it even fair warning.
Fact is, FDIC was following the directives from Paulson to please JPM by giving wamu as a free gift to JD. So, just pay the fair price for wmi/wamu and end this mess..
Carl M Levin – Senator from Michigan
James J Blanchard- Former governor of Michigan
James J Blanchard- partner in the D.C. law firm of DLA Piper
DLA Piper- contributor to Carl Milton Levin’s campaigns
FDIC- represented by lawyers from DLA Piper
Shelia Bair- Chairwoman of FDIC
Carl M Levin-chairman of Senate Subcommittee Investigating WAMU
Shelia Bair- will testify before a Senate panel about the September 2008 seizure of Washington Mutual.
Carl Milton Levin is chairman of that Senate panel
Pay attention!!!
Conclusion WAMU SHOULD NEVER HAVE BEEN SEIZED!
We scored good points yesterday. We have press coverage on the topics we wanted. Killinger did an excellent job before congress. He looked sincere, honest and confident.
IMO yesterday was the last trap which we could fell into. But INSTEAD, Mr. Killinger defended Wamu outstandingly well, which resulted in a victory before congress and more a victory before the press.
Every business journalist will now know, that wamu was unfailry treated, was not on the short list, had the opportunity to survive on its' own, was on the edge of taken over by a large bank (Banco Santander, ...) and JPM got WAMU as their birthday gift for "free" from the FDIC.
All we want is justice. A right compensation from JPM reflected by a fair share price. I am not saying 24 dollar/share, because then there will be another crisis, but 4-6 dollar/share is the least they can pay us.
PPS was at 0.70 + before. It will return to that level when it becomes more and more clear that wamu was able to survive on its' own when it got the same government help as the other banks.
At the end there will be a shareholder compensation ranging from 1dollar to + 24 dollars. Depending on the judge, the ec and wamu.
The EC is not allowed to speak!!! You will hear from them when the time is ripe.
Reuters coverage: I have a feeling we will have a big chance to be compensated in court by settlement.
http://www.nytimes.com/2010/04/14/business/14views.html?src=busln
"Conspiracy Theory
Were America’s bailed-out banks “too clubby to fail?” Kerry Killinger, the former chief executive at Washington Mutual, thinks so and says he believes that WaMu’s outsider status explains why it wasn’t rescued in September 2008. The circumstances of WaMu’s demise raise vexing questions. But the bank, which was headquartered far away from the East Coast banking center, looks more sacrificial lamb than outcast.
Mr. Killinger, who was ousted three weeks before the bank went under, pointed out that WaMu was excluded from the Treasury’s initial July 2008 list of financial firms whose stock speculators were banned from selling short. The Federal Deposit Insurance Corporation also made the unusual step of seizing the bank on a Thursday rather than a Friday. And if regulators had waited just a week longer, WaMu would have benefited from a number of government programs that shored up the banking system.
There’s some truth to all of this. The F.D.I.C.’s decision to expand deposit insurance to $250,000 per account may well have stopped WaMu’s bank run in its tracks. And the F.D.I.C.’s debt guarantee program and Treasury’s Troubled Asset Relief Program would have shored up its balance sheet, assuming WaMu had been deemed healthy enough. These measures allowed the likes of Citigroup to survive.
But if there is a conspiratorial air around WaMu, it’s in the timing. Henry Paulson Jr., the Treasury secretary at the time, introduced his bailout idea four days before and the first Congressional vote followed three days after the seizure and sale of WaMu to JPMorgan Chase. What better way to impress upon lawmakers how dire the situation had become than to have the recent failure of one of the nation’s top banks as Exhibit A?
A joint report from the Treasury and the F.D.I.C. due out later this week will argue that WaMu was too far gone to help, as regulators apparently decided in mid-September. In any event, Wells Fargo’s experience punctures the club argument: WaMu’s West Coast rival was allowed to snap Wachovia out from the clutches of Citigroup in a deal that consequently put it on a par with Wall Street’s giants. For Mr. Killinger — and other conspiracy theorists — that’s the exception to prove the rule. AGNES T. CRANE and ANTONY CURRIE"
Killinger is doing a great job. He says what needs to be said.
He is talking to congress and is defending wamu amazingly well.
IMO the last hurdle is taken and JPM will have no other options than to go for a settlement with wamu and the ec.
You're welcome.
229000 shares were bought 20min ago!
0.18 229405 OTO 13:02:48
IMO Killinger has thought about his tactics. Not only Killinger, but his team who surrounds him. IMO he did the right thing by talking with the press.
200.000 shares were just bought at 0.1865 at 10:37:49
Boost up the confidence! Go wamuq!!!
CNBC NEWS: "WaMu Execs Blame Regulators for Its Demise"
http://www.cnbc.com/id/36461579
Nice to see people keep buying 100.000 shares or more. At 0.187 for example at 9:49:57
This is the last hurdle we've to take to get some share money back as common shareholders. The court case could last long but wamu+ec will prevail.
It could last long, because I think JPM will be more into a settlement.
Remember this. Killinger's testimony will take care that this stock rises. The final cards JPM has left are played out now.
If Killinger has better cards, (charts and graphs never lie) I think JPM would love to make a settlement with wamu and the ec to secure their own financial survival.
Today we will see 20's for sure, maybe 30's if we're lucky
Spread this around other message boards too, and send it to the press.
25 questions for congress
http://wamuqd.com/index.php?option=com_content&view=article&id=87:washington-mutual-shareholders-want-answers-from-congress&catid=1:latest-news
Congress is for the people and should be asking people's questions too.
Do they have documents to prove Banco Santander was interested in Washington Mutual? Do they have documents to prove Banco Santander had the intention to pay 10 billion dollar?
If we have that on paper... I may call it jackpot!
Written Statement of Kerry K. Killinger Submitted to the United States Senate
Permanent Subcommittee on Investigations
April 13, 2010
28 Pages
link: http://assets.bizjournals.com/cms_media/seattle/Kerry%20Killinger%20Written%20Statement%204-12-10.pdf
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=tm&bn=86316&tid=427103&mid=427103&tof=1&frt=2
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_W/threadview?m=tm&bn=86316&tid=426868&mid=426868&tof=6&frt=2
"I believe Washington Mutual should not have been seized and sold for a bargain price. There is no question that the Company sufferedfrom rising loan losses, but the Company was working its way through the crisis by reducing operating costs, raising over $10 billion of additional capital, and setting aside substantial loan loss reserves. The Company’s Tier I capital ratio was a strong 8.44% at the end of the second quarter of 2008. The Company also had an outstanding retail banking franchise that not only provided substantial core profitability but also would have been of enormous value to a number of potential acquirers.
When I left the Bank in early September of 2008, its capital greatly exceeded regulatory requirements for a well-capitalized bank. Deposits were stable, sources of liquidity appeared adequate, and our primary regulator, the Office of Thrift Supervision (“OTS”), had not directed us to seek additional outside capital or find a merger partner. It was with shock and great sadness that I read of the seizure and bargain sale of Washington Mutual on September 25, 2008. I recognize that policy makers and Regulators had no blueprint for dealing with the worldwide financial crisis that that developed in the aftermath of the collapse of Lehman Brothers. But I believe that Washington Mutual’s seizure was unnecessary, and the Company should have been given a chance to work its way through the crisis. I also believe it was unfair that Washington Mutual was not given the benefits extended to and actions taken on behalf of other financial services companies within days of the Company’s seizure, such as the following:
The FDIC’s insurance limit increase to $250,000;
The FDIC guarantee of bank debt;!
The Federal Reserve injection of liquidity and purchase of assets;
The Treasury Department announcement of favorable treatment of tax losses
Injection of capital into all major banks through the Troubled Asset Relief Program.
The unfair treatment of Washington Mutual did not begin with its unnecessary seizure. In July 2008, Washington Mutual was excluded from the “do not short” list, which protected large Wall Street banks from abusive short selling. The Company was similarly excluded from hundreds of meetings and telephone calls between Wall Street executives and policy leaders that ultimately determined the winners and losers in this financial crisis. For those that were part of the inner circle and were “too clubby to fail,” the benefits were obvious. For those outside of the club the penalty was severe.
In my view, the actions taken by policymakers reflect a vision of a banking industry dominated by large Wall Street banks. Consumer-based banks like Washington Mutual were not included in this vision, and consequently were not extended the same protections. I believe this was a mistake. I fear that consumers will ultimately pay the price of this vision through less competition, higher fees, and lower interest rates on their deposits."
Hello senator, looks like ssev is stabilizing at 0.0018-0.0020 and preparing for another jump when news comes comes out.
I believe evfn will gives us additional info about the company's subsidiaries and most important of all we will have a better look at the current number of outstanding shares. I have personally mailed with christine of csirgroup and she confirmed me that the fuel stations evfn is leasing do exist.
So wamuq was worth much more than had been anticipated?
I think JPM will settle sooner or later... They have no other choice if they wish to survive financially.
If Killinger will tell what us shareholders want to hear - namely the truth - how will this effect the court case?
666 shares were sold/bought at the end of the day; now that is class!
I have never seen that much manipulation in all my life!
It started some months ago when the share price was going up to 0.015 one day, but during the last two trading hours it was manipulated down to 0.0095 with less than 20% of that day's volume. Since then, there has been enormous manipulation.
This is a print of the shares sold and bought during the last 15min of this market day.
0.0006 666 OTO 15:59:52
0.0006 200 OTO 15:58:08
0.0006 200 OTO 15:57:56
0.0006 200 OTO 15:55:20
0.0006 100 OTO 15:55:02
0.0006 100 OTO 15:54:48
0.0006 100 OTO 15:54:37
0.0006 70000 OTO 15:53:48
0.0006 200 OTO 15:52:21
0.0006 200 OTO 15:52:09
0.0006 200 OTO 15:52:00
0.0006 200 OTO 15:51:48
0.0006 200 OTO 15:51:36
0.0006 100 OTO 15:50:08
0.0006 200 OTO 15:49:50
0.0006 200 OTO 15:49:38
0.0006 200 OTO 15:49:26
0.0006 200 OTO 15:49:14
0.0006 200 OTO 15:49:05
0.0006 100 OTO 15:47:49
0.0006 100 OTO 15:47:36
0.0006 100 OTO 15:47:25
0.0006 100 OTO 15:47:13
0.0006 100 OTO 15:47:03
0.0006 100 OTO 15:46:54
So, tomorrow will be good voor us wamu holders?
Can you translate that please?
Good or bad news and why?
Once we go past 0.181 the way up lies open.