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99% of the public doesn't even know about this issue so it's a non factor in elections. Most still blame the GSEs for the housing crash due to slanted and bad journalism with an agenda.
Oh, is Sweeney expected back from her 5 year vacation anytime soon?
Yea, I find that a rather bizarre business practice. But what the hell do I know?
I agree. Still, very sad for anyone who lost money.
Honestly, I hope current shareholders are rewarded. I can’t stand when good people loose their money to bad business practices. But it’s a gamble from here.
It’s not a question whether or not sears will survive and be profitable. I believe it will. The question is whether or not the current share structure will remain in tact. They very well could cancel current shares and issue a new IPO, where current shareholders get nothing.
I bought shares based on the belief they would transfer over to any new company structure. But I sold when I lost that outlook. Seems like the market did as well.
I’ve lost money in similar situations and wasn’t going to ride this one out based off past experience. The fall from $3 wasn’t a good sign. Should have kept rising if shares were golden.
Which makes absolutely no sense. Why wait? Everyone knows they need capital so waiting to stop the sweep is like waiting another year to start chemo when you know you have cancer.
Dilution and IPO are completely different things.
Ok, but that’s the term being used. Not very comforting TBH
I’m really concerned about all this new IPO talk. What happens to existing shareholders if that were to happen ?
This seriously better get resolved before 2020. If Trump loses the election, there’s no telling what will happen. However, I would predict status quo which is unacceptable.
I find the similarities with the GSEs quite interesting
https://www.foxnews.com/entertainment/judge-orders-evaluation-britney-spears-conservatorship
First it was 2016, for Sweeney, then it was Mnuchin in 17 who said late 2018, early 19. Now 2020. Can you see why I might be skeptical about the next “deadline?”
I love how the can keeps getting kicked down the road. What a frigging joke and colossal waste of time this turned out to be.
You do realize there are different government agencies which handle the issues in their lane, right? You think Calabria is focused on China? He will do his job just fine, and focus on the GSEs no matter what else is going on.
The only branch of government right now which insists on causing more problems than it solves is congress.
With any degree of justice, NWS will be declared unconstitutional. If that happens, that means we'd get reimbursed all the money stolen. I seriously DOUBT that will happen even though it SHOULD
I wonder what the delay will be about this time....
Hopefully en banc rules within the predicted timeframes. Sweeney’s court is still in discovery and it’s what, 3 years now? Not even gone to trial yet. That is just disgusting. What’s the latest update on that anyway?
Good info, thanks for the intuitive DD. If LAC gets bought out, it would most likely be at a premium and shareholders would be well compensated, I'm sure.
Do you have any examples of this ever happening?
Do you honestly think there’s someone from the court waiting in the wings to call Wall Street to halt a stock? The far reaching speculation from some of us is absolutely astonishing.
Why do I have the feeling we’re going to break that record?
No, this is not good for shareholders.
You can’t blame MC for the past 10 years, just from this point on.
Agreed
That analyst review was what prompted me to take my small profits and go home. In the event it's not accurate, this could still be a nice play, but I'm not willing to take that chance.
Still kicking myself for not selling at $3, but oh well...
Ummm, no. Not legal and judges wouldn't compromise their livelihood without serious compensation risk/reward.
All the best sir!
That will be the fastest relief, if any. In a Ben Stein voice, “Sweeney? Sweeney?”
Hand Raised
Well guys, I'm out with a small profit of $2K. Wish I would have sold at $3, but that's my dumb fault for thinking this would recover.
Word of caution to longs, it wasn't easy to sell about 9K shares. Went in small blocks. That's not a good sign IMO.
I might buy back in if there's any signs of the shares becoming more secure, but doesn't look good. Again, JMHO.
Be careful of people spouting off about big time investors buying up shares, saying "Watch and learn." Or anyone making grandiose claims for either bulls or bears. Remember, everyone here is an anonymous poster who you don't know so take everything with a grain of salt.
Good luck to all.
Yep. No plans to curtail the sweep. Thanks Mark. What a frigging joke this has become. Screw all of these do nothing clowns.
Well, I'm planning on selling out Monday and taking my $2K profit. Not as great as $16K, but Better than losing $4K
How do you figure this is good for shareholders/MOASS? Explain. Also, what's your take on the analysts article the other day which says common shareholders will get nothing.
Honestly, I'm kicking myself for not selling at $3. I was up $16,000.
I'm still up, but nowhere near that now.
Besides more buys to sells, no. No real news that we didn't already know.
This should be running like the wind unless there are comparable sells to keep it down a bit. With buys like that going through we should be +.20 at least.