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Thanks David
"This" could be "anyone", (I beleive that) even WMIH
"Taxpayer filed a late
Form 1128 to change its accounting period, for federal income tax purposes, from a
taxable year ending December 31, to a taxable year ending March 31, effective March
31, Year. Fiscal year end can be changed from 12/31/12 ......
Based on the facts and information submitted and the representations made, we
conclude that Taxpayer has acted reasonably and in good faith, and that the granting of
relief will not prejudice the interests of the government. Accordingly, Taxpayer has
satisfied the requirements of the regulations for the granting of relief, and Taxpayer's
late filed Form 1128 requesting to change to March 31, effective March 31, Year, is
considered timely filed."
http://www.irs.gov/pub/irs-wd/1305009.pdf
Hi WMIHers
I don´t know if this has already been posted here
http://www.bloomberg.com/news/2013-01-31/blackstone-s-gso-to-raise-5-billion-for-rescue-lending-1-.html?cmpid=yhoo
I love Trojan Horses
Hi Royal
I beleive the Duff & Phelps issue is not absolutely "dead" for us
"The merger agreement provides for a “go-shop” period commencing immediately and ending on February 8, 2013, during which the Company, with the assistance of its financial and legal advisors, will actively solicit and potentially receive, evaluate and enter into negotiations with third parties that offer alternative transaction proposals. It is not anticipated that any developments will be disclosed with regard to this process, unless the Duff & Phelps board makes a decision with respect to a potential superior proposal. There is no guarantee that this process will result in a superior proposal. The merger agreement provides for a break-up fee of approximately $6.65 million if the Company terminates the agreement prior to March 8, 2013, in connection with a superior proposal that first arose during the go-shop period."
( See http://www.duffandphelps.com/Pages/newsDetail.aspx?itemid=596&list=News )
More detail about this go-Shop period clause in the Merger Agreement
"6.2 Acquisition Proposals; Go-Shop Period.
(a) Go-Shop Period. Notwithstanding anything to the contrary contained in this Agreement, during the period beginning on the date of this Agreement and continuing until 11:59 p.m. (Eastern time) on February 8, 2013 (the “Go-Shop Period”), the Company Parties and their Subsidiaries and their respective directors, officers, employees, investment bankers, attorneys, accountants and other advisors or representatives (collectively, “Representatives”) shall have the right to: (i) initiate, solicit and encourage any inquiry or the making of any proposals or offers that constitute Acquisition Proposals, including by way of providing access to non-public information to any Person pursuant to confidentiality agreements on customary terms not materially more favorable in the aggregate to such Person than those contained in the Confidentiality Agreements; provided that the Company shall promptly (and in any event within twenty-four (24) hours thereafter) make available to Parent any material non-public information concerning the Company Parties or their Subsidiaries that the Company Parties provide to any Person if such information was not previously made available to Parent, and (ii) engage or enter into or otherwise participate in any discussions or negotiations with any Persons or groups of Persons with respect to any Acquisition Proposals or otherwise cooperate with or assist or participate in, or facilitate any such inquiries, proposals, discussions or negotiations or any effort or attempt to make any Acquisition Proposals....."
(see http://www.sec.gov/Archives/edgar/data/1397821/000139782112000098/exhibit21mergeragreement.htm )
Take Care
Thanks for the input Catz, I agree
"Now" WMI LT "will start" paying us...
keep this in mind
"(b) Failure to Claim Undeliverable Distributions. If (i) a check is sent,
by either the Disbursing Agent or the Liquidating Trustee, to a holder in respect of distributions
and such check is not negotiated within six (6) months following the date on which such check
was issued, or (ii) any other form of distribution to a holder is otherwise undeliverable, the
Disbursing Agent or the Liquidating Trustee, as the case may be, (or their duly authorized agent)
shall, on or prior to the date that is one hundred eighty (180) days from (i) the Effective Date,
with respect to all Allowed Claims as of the Effective Date, and (ii) the date that a distribution is
made with respect to any Disputed Claim that becomes an Allowed Claim subsequent to the
Effective Date, file a list with the Bankruptcy Court setting forth the names of those Entities for
which distributions have been made hereunder that have not been negotiated or have been
returned as undeliverable as of the date thereof. Any holder of an Allowed Claim or Equity
Interest on such list that does not identify itself and assert its rights pursuant to the Plan to
receive a distribution within one (1) year from the date so listed shall have its entitlement to such
undeliverable distribution discharged and shall be forever barred from asserting any entitlement
pursuant to the Plan, against the Reorganized Debtors, the Liquidating Trust, the Liquidating
Trustee, the Trustees, or their respective professionals, agents, or property. In such case, the
Liquidating Trustee is authorized to permanently remove such holder and its corresponding
Claim and/or Trust Interest from such trustee’s books and records and any consideration held for
distribution on account of such Allowed Claim or Equity Interest shall revert to such trustee for
redistribution to holders of Liquidating Trust Interests in accordance with the terms and
provisions hereof."
See [31.6 (b) in this link http://www.kccllc.net/documents/0812229/0812229111212000000000003.pdf ]
An entirely individual decision (the vote) was and (if ever) will be.
Pretending otherwise is unrealistic.
Thanks for this Dion
Hi Large
I agree with the (at least) compelling logic of your argument, but
Whence come the 15-40 billion in NOL´s (see "Arguably, anywhere from 15 to 40 billion in NOL’s")?
TIA
Hi longhauld
I do believe we are already rich in value per share (not in price per share YET )
“Nowadays people know the price of everything and the value of nothing.”
- Oscar Wilde, The Picture of Dorian Gray
Hi Dpincus and thanks for your answer
At this point I wouldn´t mind your (probable) vision to become fact and I beleive it wouldn´t be a bad option.
What I really do not want to happen is to be involved in a (possible) decision (like voting the last POR was) scenario without having previously done the dd (or at least some kind of preparation)
I beleive that we knew we had to vote the 7th POR (and Catz was there (with his torch) then).
Now it is different, we do not know what is going to happen, and (I beleive) we cannot prepare that uncertain scenario without an speculative/conjecture (and sometimes wishful) process.
What sometimes worries me is thinking about which will be next WS boys trap in our journey..., maybe a decision scenario with a very short time frame to accept or reject an offer ?
iP
Hi bkshadow
Appart from the cash value a share is (see " WMIH is worth quite a bit more, with time.") bit also a typo ??
TIA
Hi DPincus
Maybe I am wrong but I think that we may have to decide if we accept or reject a (very probably) first low ball offer (to adquire our WMIH shares).
I also think that in this (at least possible) low ball offer scenario the result of our answer will depend on others' answers. We should be at least 300 rejecting the first low ball offer (otherwise WMIH would go privy and those rejecting the offer (if WMIH went privy) would be in a very difficult position)
Best regards
I agree
Thanks a lot for your helpful correction bkshadow
Hi Catz
I think every theory is less speculative without an absolute date, but
Much more less speculative (in your opinion) if we talk about Duff and Phelps ?
TIA
I wouldn´t mind, I would accept it
Hi about _nothing
I think WM MORTGAGE REINSURANCE COMPANY INC is subsidiary of WMIH
I think it is a 100% owned subsidiary
So, your initial statement
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83282815
is valid (incomplete but valid)
See
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83116936
....."You fail to state there are verifiable tax advantages in the BILLIONS of Dollars, the company has an approximate worth of 200M -WITH $0 debt or liability, and a book value I've seen for $2.37. " (book value a share)
IMHO
I agree Royal
Speculating is part of the business we are in, an important one
For instance, saying this (see http://www.irs.gov/pub/irs-wd/1301009.pdf ) seems to be WMIH is speculating
but it seems to be WMIH
IMHO
And where do you think those potential extra CNOL/NOL/OL would go to (WMI LT or WMIH)?
Hi Hard
Ok, parent is old Wamu
Do you think that doc is talking about old Wamu?
IRS doc
" ......Information, affidavits, and representations submitted by Parent, Company
Official, and Tax Professional explain the circumstances that resulted in the failure to PLR-128229-12 4
timely file a valid Election. The information establishes that Parent reasonably relied on
a qualified tax professional who failed to make, or advise Parent to make, the Election,
and that the request for relief was filed before the failure to timely make the Election
was discovered by the Internal Revenue Service. See §§ 301.9100-3(b)(1)(i) and (v).
Based on the facts and information submitted, including the affidavits submitted
and the representations made, we conclude that Parent has shown it acted reasonably
and in good faith, the requirements of §§ 301.9100-1 and 301.9100-3 are satisfied, and
granting relief will not prejudice the interests of the government. Accordingly, provided
the Parent Group qualifies substantively to file the Election, we grant an extension of
time under § 301.9100-3, until sixty (60) days from the date on this letter, for Parent to
file the Election........."
http://www.irs.gov/pub/irs-wd/1301009.pdf
Is this WMIH?
Feedback on this will be really appreciated
TIA
Interesting info posted by Much.Faster (I don´t know if this has already been posted here)
See these links
http://finance.yahoo.com/mbview/threadview/?&bn=e22bfbdd-fccd-3365-8bb3-5feac81ed75a&tid=1357741580799-afa45c9b-123d-44bf-b37f-eee5805346c8&mid=
http://www.otcmarkets.com/stock/WMIH/short-sales
See also Rule 4320
http://finra.complinet.com/en/display/display.html?rbid=2403&element_id=9398
Royal
You are right
We can talk; let´s talk about 2012:
It was not that bad
We emerged from bankrupcy and (many of us) averaged down at ridiculously low prices
Also,
our escrows look a little bit better every single day
So, not too bad
Let´s take it easy and wait as you say
Hi Royal
I think it´s just her opinion
Hi Royal
I think this
http://finance.yahoo.com/news/shareholder-alert-law-firm-levi-155500612.html (xoom posted it...)
will delay the whole process
Hi possom2u
I think that if U´s get 16 USD then preferred get 8,96 FV (not 5000 USD in any of the cases)
see
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83116803
Thanks again xoom (hadn´t read it ...)
I don´t know if
http://finance.yahoo.com/news/shareholder-alert-law-firm-levi-155500612.html
are good or bad news...
Hi xoom,
according to http://en.wikipedia.org/wiki/Form_8-K
"......When Form 8-K is required
Form 8-K is used to notify investors of a current event. These types of events include:
Material definitive agreements not made in the ordinary course of business...."
In the case this
Agreement and Plan of Merger
Among
Duff & Phelps Corporation,
Duff & Phelps Acquisitions, LLC,
Dakota Holding Corporation,
Dakota Acquisition I, Inc.
and
Dakota Acquisition II, LLC
Dated as of December 30, 2012
(see http://www.sec.gov/Archives/edgar/data/1397821/000139782112000097/exhibit21mergeragreement.htm )
were connected to WMIH;
"....1.1 The Mergers.
(a)Upon the terms and subject to the conditions set forth in this Agreement, at the DPA Merger Effective Time, Merger Sub II shall be merged with and into DPA in accordance with the provisions of the Delaware Limited Liability Company Act (the “DLLCA”) and the separate existence of Merger Sub II shall thereupon cease. DPA shall be the surviving entity in the DPA Merger (sometimes hereinafter referred to as the “Surviving Entity"). The DPA Merger shall have the effects specified in the DLLCA.
(b)Upon the terms and subject to the conditions set forth in this Agreement, at the Company Merger Effective Time, Merger Sub I shall be merged with and into the Company in accordance with the provisions of the Delaware General Corporations Act (the “DGCLDGCL1.1”) and the separate corporate existence of Merger Sub I shall thereupon cease. The Company shall be the surviving corporation in the Company Merger (sometimes hereinafter referred to as the “Surviving Corporation”). The Company Merger shall have the effects specified in the DGCL.
1.2 Closing. The closing for the Mergers (the “ClosingClosing1.2”) shall take place at the offices of Wachtell, Lipton, Rosen & Katz, 51 West 52nd Street, New York, New York 10019, at 10:00 a.m. (New York local time) on the later of (i) the third (3rd) Business Day following the satisfaction or waiver in accordance with this Agreement of all of the conditions set forth in Article VII (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the fulfillment or waiver of all conditions at the Closing) and (ii) the earlier of (A) a date during the Marketing Period to be specified by Parent on no fewer than three (3) Business Days' notice to the Company, and (B) the third (3rd) Business Day following the final day of the Marketing Period (subject, in the case of each of subclauses (A) and (B) of this clause (ii), to the satisfaction or waiver in accordance with this Agreement of all of the conditions set forth in Article VII as of the date determined pursuant to this Section 1.2 (other than those conditions that by their nature are to be satisfied at the Closing, but subject to the fulfillment or waiver of all conditions at the Closing)), or (iii) at such other time and date or at such other place as Parent and the Company may mutually agree upon in writing. The date on which the Closing actually occurs is referred to as the “Closing Date.” For purposes of this Agreement, the term “Business Day” shall mean any day ending at 11:59 p.m. (New York local time) other than a Saturday or Sunday or a day on which commercial banks in the City of New York are required or authorized by law or executive order to close.
2
1.3 Effective Times.
(a) At the Closing, DPA and Merger Sub II shall cause a certificate of merger (the “DPA Certificate of Merger”) to be executed, acknowledged and filed with the Secretary of State of the State of Delaware as provided in Section 18-209(c) of the DLLCA. The DPA Merger shall become effective at the time when the DPA Certificate of Merger has been duly filed with the Secretary of State of the State of Delaware or at such later time as may be agreed by the Company Parties and Buyer Parties in writing and specified in the DPA Certificate of Merger (the “DPA Merger Effective Time”).
(b) At the Closing, immediately after the DPA Certificate of Merger has been filed pursuant to Section 1.3(a), the Company and Merger Sub I shall cause a certificate of merger (the “Company Certificate of Merger”) to be executed, acknowledged and filed with the Secretary of State of the State of Delaware as provided in Section 251(c) of the DGCL. The Company Merger shall become effective at the time when the Company Certificate of Merger has been duly filed with the Secretary of State of the State of Delaware or at such later time as may be agreed by the parties in writing and specified in the Company Certificate of Merger (the “Company Merger Effective Time”); provided that the Company Merger Effective Time shall follow the DPA Merger Effective Time.
.............................."
Could this material agreement be not definitive yet (on 12/30/2012 or 12/31/2012)?
So
Could this agreement be connected to WMIH and still we (WMIH) don't get a Form 8-K today?
TIA
Hi Large,
according to this good approach (considering a few (of every equity class) did not give releases...)
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82846450
The total cost/reward should be
89,88764 Billion
But I don´t think we will get 8,988764FV preferred...
IMO
Hi jhdf51
do you consider 10% FV (at least) for old preferred shares a realistic estimation?
(see http://investorshub.advfn.com/boards/read_msg.aspx?message_id=83041862 )
TIA
We don´t know about Matt´s future..., we should contact him ASAP
I don´t think capitalist society exists any longer (sad to say but true)
Kleptocracy
is what we have
IMO
Hi trade,
Considering the Media cross-ownership in the United States
Could these be also an option?
http://www.guardian.co.uk/
http://www.bbc.co.uk/
and what about
http://wikileaks.org/
Just asking...
TIA
Great ¡¡
Matt Taibbi seems to be the right guy
How could we coordinate our efforts/actions ?
Nascow
I will wail till cob on Monday to see what happens
http://www.wmitrust.com/documents/8817600/8817600121101000000000002.pdf
We must wait till Next WMI LT quarterly summary report is released...
IMO
dm57
I think you mean that much.faster only says (see link 1)
"it`s not wmih, i found it interesting, because the deal was made in december, and was reported today"
http://finance.yahoo.com/mbview/threadview/?&bn=e22bfbdd-fccd-3365-8bb3-5feac81ed75a&tid=1357237954000-e2542283-3e1b-4e55-854b-87c28dec65bc
he says this about one/some of the deals mentioned in this article
http://www.streetinsider.com/Special+Reports/Notable+Mergers+and+Acquisitions+of+the+Day+0103%3A+(HRL)(UL)+(MSFT)+(GPS)+(DDD)/7980551.html
Meaning the same logic (deal made in December and reported later (not yet as an option of later)) could apply to us
IMO
2009 info
" WaMu
reportedly approached The Blackstone Group and The Carlyle
Group regarding a potential take-private....."
http://www.peimedia.com/productimages/Media/000/200/447/TPG_sample_final.pdf
See end of page 15
Thanks for your correction Trade