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Let's check the fridge...
KEEP YOUR HANDS INSIDE THE TRAIN!!!
Shake shake shake the tree.
LMATT, is holding 10 million shares I think.
hmmm...
Exactly...let the fun begin.
Wow, huge find Errett, you sure you're not a moonlighting lawyer?
Thanks Billiam, I just thought it was also unusual that the stock would stop tradding for 2 weeks. I'm hoping that it was b/c FDIC and others were all behind the scenes mapping out the long term plan to bring Cors back again. At least we know it's something "different" from most banks.
I think this is the first time I've seen the word savvy in an article, I know it's been mentioned various times on the board though......."The FDIC needed a financially stable, real estate savvy partner to maximize the value of the real estate portfolio by infusing critical financial capital and knowledge....."
http://www.multihousingnews.com/news/st-residential-wins-corus-banks-4-5b-re-loan-portfolio/
With that many projects on the go, makes sense to "create" your own bank and why not a bank with valuable NOL's. Per Billiam "too simple to fail." Perfect.
Wanted to confirm something. When Cors was siezed the trading on the stock was suspended for almost 2 weeks, is that normal proticol? Hoping that it is very unusual and usually suspended for 2-3 days. Thanks.
Very positive.
Guiseppi, a funny story on dates. The last time I boarded a plane was on 9/11/09. The same date the bank was siezed. Since that time, I'm honestly telling the truth, I'm boarding a plane 5/12/11 to go to a wedding in Washington, DC. So keeping my hopes for something big that day in court.
I believe it's next Thursday May 12
Just going through it now and I love how all the billings from K&R always from day 1 have had the largest charges always to the "Restructuring" department lawyers.
"A significant modification made to the debt, operations or structure of a company"
http://www.investopedia.com/terms/r/restructuring.asp
As Billiam has said from day 1 Debt/Equity swap works well with me....
So do we try giving Randy Curtis a call? I know he wouldn't say a thing - but you never know.
Nice work Ten, looks like the dots are getting connected..Very interesting how all the big names here are somehow all linked to eachother.. Maybe someone can work on diagram that links the related people and which company they are either employees/board members or shareholders.
I think all the key organizations: Corus, Tricadia, FDIC, Starwood, Latin School....others? What about a list of all the key people?
JV44 - a perfect statement! Thanks - fully agree - either you're in or out, believe or don't.
I had this dream - a new docket came out and Tricadia made a public statement that they were going to offer $8.50 a share for Corus stock - but b/c of the amount we all hold, we didn't give in and the stock went into the teens. In the dream I went to bed with my usual blankets made of cloth etc, but when I woke up, the blankets were all made of $100 dollar bills all sown together, I felt really really warm.
I think it comes down to either you believe or you don't. I'm not selling either, but some may sell to a level they feel more comfortable with holding, all part of learning I guess.
Irish, great handle on the call. At least he did call back. I agree with Errett, they probably have to communicate exactly what's available to the public.
If only we could find out what potential hidden assets exist. As Ten mentioned there are 2 loans they are participating in. If we knew what value those where, we'd be that much closer in understanding if it's enough to say whether we have some equity.
I think we're getting close to exhausting all our options in trying to find out more, we may just have to wait and see now? I know for myself, the fat lady has not sung her last song yet.
Just to throw something out there. Page 100 - 27% of 53 million shares is 14 million shares. Page 102 each BOD member had approval for at least 40 million votes at last annual meeting May 5/2009. The BOD has been kept intact since.
http://www.sec.gov/Archives/edgar/data/51939/000095012309045927/c90518e10vq.htm
As of June 30, 2009, approximately 27% of our outstanding common shares are owned by our former Chief Executive Officer, Robert J. Glickman, and his immediate and extended family (the “Glickman Family”). The Glickman Family’s interest in retaining their investment in the Company may have been highly dependent on Robert J. Glickman’s ability to continue his role as our Chief Executive Officer. As a result, Robert J. Glickman’s resignation as our Chief Executive Officer could have a material adverse effect on our business, financial condition, results of operation and ultimately the market price of our common stock.
In addition, the Glickman Family, acting together, has the ability to significantly influence the election and removal of our Board of Directors, as well as the outcome of any other matters to be decided by a vote of shareholders. This concentration of ownership could delay, prevent or result in a change in control of the Company, even when a change in control may or may not be perceived by some as being in the best interests of our shareholders.
Great, unlimited protection of property? Do we have any web links to support it? Thanks.
Love it, right to the top with the Glickman's. Irish, did you try Ten's phone #?
Wow, "founded Goldman"???
Hopefully b/c Kevin doesn't need to anymore with the amount of shares he has.
At least we're all trying,,,,,that's the main thing...working together to cement our belief. Great efforts from everyone. Let's see if we get any feedback today.
I called Peter Roberts, was directed to his personal assistant Tracy. She's out of office till May 4, but I did leave the message script and my contact info. I hope someone is checking the messages while she's away, but we may have to wait till May 4.
Let's do it: you call Robert Buford
Phone: 773-832-3088
And I'll call
Peter Roberts
Phone: 312-782-5800
So Kevin no longer with Affirmative and messages left for Rodney / Michael. HMB are you ok with us calling? If you are definatly making the calls today, then we can hold off and wait for your feedback.
Just called: Kevin Callahan is no longer with Affimative, let's all try to get his new contact info.
I almost take that as a huge postive. Maybe he's sitting on Mikie's island doing the countdown all while sitting on 2.4 million shares.
Thanks Ten for the #'s. Are we going to call today if Errett gives the ok? Looks like everyone is good with the script.
I'll call the last person:
Kevin R Callahan
Phone: 972-728-6300
Looks great, do any of our lawyer members and/or others have any feedback/changes?
Let's try to work on the contact #'s for the weekend and we'll need 5 volunteers to call, I think we have 3 so far.
Mikie aka "The Godfather" LOL
I think this is mostly info we knew from prior. When legal team for creditors was going back and forth with Tricadia with some disagreements etc and the motion to extend the period till May31
Maybe Irish work on a brief script outline and the rest of us available try to find phone contact info for the 5 members?
The 5 BOD members:
Robert J. Buford
Kevin R. Callahan
Rodney D. Lubeznik
Michael J. McClure
Peter C. Roberts
If you google thier names and put "corus" beside the name, it brings up various websites. Hopefully we can coordinate the calls early next week.
Errett, great idea. Let's make some sort of coordinate effort to try to reach out to the 5 members. Preferably all at the same time. I also am available to call one of them.
But we may have to work on exactly what we want to say during the call. Does anyone see this as bad idea that we should not pursue? Let's make some decisions tomorrow.
Thanks Ten, also from some research, they all come from a very strong financial background. Agree, it's a good sign they kept the board intact:
Michael Mclure:
http://dallas.citybizlist.com/16/2011/1/11/Affirmative-Insurance-Hands-CEO-Kusumi-New-3Yr.-Contract-with-650K-Base-Salary--cbl.aspx
Peter Roberts
http://www.dlapiperresummit.com/files/upload/Peter%20Roberts%20BIO%20for%202010%20RE%20Summit.pdf
Kevin R. Callahan
http://www.zoominfo.com/people/Callahan_Kevin_2000670.aspx
Robert J. Buford
http://www.exxonsecrets.org/html/personfactsheet.php?id=1305
Rodney D. Lubeznik - he owns and manages restaurants
A small bio on each board member attached. Maybe someone finds something in researching like Mikie said, we've got to study all the people involved:
http://investing.businessweek.com/research/stocks/people/board.asp?ticker=CORSQ:US
Ten, nice find. Yes we don't even know what the other loan/asset is related to. If we were to count cash, 100% refunds, 2 loans/assets, we may potentially already have a slight bit of equity for us, without the NOL's.
Please help with some interpretation. In Docket 430, page 103 of the PDF file in regard to tax refund litigation.
2/28/11 - Jeffrey G .20hours, $146 "Analyze FDIC notice of withdrawal of motion to dismiss"
Does anyone interpret this as the FDIC dropping their claim on the refunds or is it something else?
http://www.bmcgroup.com/restructuring/DocView.aspx?ClientID=231&DocNumber=430&CaseNo=1-10-bk-26881
Irish congrats, just be prepared to sleep much much less during the next 6 months.
AMAZING FEEDBACK FROM EVERYONE...everyone is contributing...one question though. Billiam, you've been quiet for a couple weeks?