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The shareholder meeting related R/S approval, if needed, will be in October. However, after approval it is up to the board to pick the data for R/S.
I think PIERS are due around $50 million so $40 million will be left over.
Approximately $67 million.
WMMRC is part of WMIH. Why would anything go to Marker holders.
Before you start counting the bucks....I think PIERS+GUC are still owed around $40 million.
Hopefully October will be a good month for WMILT and WMIH.
JWW, Thank you for continuing to post charts and observations.
Because we love the escrows so much, they are letting us keep them. Instead of replacing them with cash.
Same here. I see the ads on CNN and other channels also.
It appears the flagpole broke.
How are you doing these calculations? Depends upon what one paid??
As much as I would like to get a windfall from WAMU funds, spending it on social security is a much better use of the funds.
WMILT does file regular reports but they do not match our expectations. That doesn't make WMILT unfair. Either they cannot acknowledge what is coming back or there is nothing coming back.
Obviously you didn't own any PIERS. I for one am glad that I owned some as I got paid almost triple of what I invested and taxes are easy to do. For some reason several people on this board are always dragging PIERS into the discussion for no reason.
But they got cash for two-third and shares for one-third. May be your calculations are based on then getting 100% in terms of shares (that is, 0 cash).
RD, That is possible. But then my guess would be that the trigger is not the employee claims but rather closing of the bankruptcy. So we have another year to go?
The money for employee claims was capped and set aside in the DCR. FDIC is not paying for it. So why hold up anything due to employee claims?
Please continue to post the short videos.
Money was already put aside for employee claims. Why the wait? Must be some other reason.
Excellent question. After they destroy the records they can say there nothing that should go to WMILT. As far as WMIH is concerned the records are with JPM and good luck getting anything back from JPM.
You may be right today.
If not $1.75 then $1.55.
If WMIH before RS can go to $50, then why cannot after RS COOP go to $600? BTW, neither is going to happen.
Yes I expect WMIH will give the best offer.
Everyone (whether they sold their WMIH shares or not) will get the same for their escrows. The fact that WMIH shareholders (those who held on to their WMIH shares) benefit from their investment in WMIH has nothing to do with this. No one is stopping anyone from buying WMIH shares so they can also benefit from any future deals WMIH makes. There is nothing illegal about this.
Because the deal with WMIH would be better than a deal with someone else. WMILT is required to liquidate which means it is not going to get a better deal from any one else.
The big holders of escrow also hold a big piece of WMIH, so they will benefit by selling the assets to WMIH. If assets are sold to someone else, none of the escrow holders who also hold WMIH shares will benefit from it. Isn't it better for some to benefit as opposed to no one.
GT are just fellow lawyers, why shouldn't they also get a piece of the loot.
If it goes way south, I will buy more. There may not be many opportunities left before RS takes place.
LG, This piers and escrow thing in silly. At least I got paid for my Piers. For P/K/Qs I got WMIH shares and escrows. WMIH shares I am very positive about and can sell them if I need the money. For escrows I haven't seen a penny.
So what happened with them? Did you get paid.
If every filing was based on audited information the accounting firms will be making all the money and the companies would be broke.
Unaudited does not mean it will never be audited nor does it give companies license to lie.
No it doesn't.
My broker still shows 7.75%
AZ, What misunderstandings are you referring to. What has happened, as you listed, is for everyone to see. Latest being Globic. But it is also clear the people who hold markers haven't seen a cent. It appears fair and reasonable was the WMIH shares we got and now with NSM merger hopefully in time share price will rise to provide a meaningful recovery.
I don't think the vote today had anything to do with the approval of the merger.
Clearly you don't know either. The simple answer is, it has nothing to do with WMIH.
What does this have to do with WMIH?
goodietime,
If es1 does not know what is stolen from him why would Jamie and Shiela know. es1 doesn't even know whether he owned a camero or a mustang. He just owned WAMU stock and hence some value, not assets. The whole argument is flawed.
es1,
> I asked for what they stole to be returned to me.
> I steal your camero I can't return a Mustang and
> pretend we are even.
What was stolen from you? You owned no assets, you just owned WAMU stock. Since WAMU stock has been cancelled, it cannot be returned to you. If you don't want WMIH, there is nothing that can be returned to you. I for one will gladly take WMIH although I have very little hope of getting anything.
lodas, It doesn't say anything about KKR. WMIH has being in cash for the past few years. When the expiring contract was renegotiated WMIH did not have cash to give so they must have asked KKR to pay in shares. Of course, WMIH had to pay more in shares, like ne time dividend when the deal closes etc.