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First 10k shares just went at 9:01am
**Hearing 6/29/2011 10:30AM - Phone Dial-in and Audio Archive
LISTEN LIVE:
Dial-in at 10:20AM EST
Hearing begins at 10:30AM EST
The bridge number is:
712-432-1001
and when prompted for the access code enter:
477420980
You will hear no music just an intermittent beep until I join the call to the hearing.
AUDIO ARCHIVE:
To be notified as the audio archives become available:
http://twitter.com/WaMuAudio
The archived audio will be made available at the conclusion of the hearing:
Hearing Index: http://www.viewip.net/WMI/Hearing
WMI calendar:
http://www.my.calendars.net/wmi
For any that are in Europe, here are the dial-in numbers. Use the same pass-code above.
Germany 49 01805 00 76 18
UK 44 0870 352 0483
France 33 0826 100 265
Ireland 353 0818 270 030
Austria 43 0820 4000 1561
Belgium 32 070 35 9983
Spain 34 0902 88 60 36
Switzerland 41 0848 56 01 88
Italy 39 0848 39 01 65
**Hearing 6/28/2011 3PM - Phone Dial-in and Audio Archive
LISTEN LIVE:
Dial-in at 2:50PM EST
Hearing begins at 3:00PM EST
The bridge number is:
712-432-1001
and when prompted for the access code enter:
477420980
You will hear no music just an intermittent beep until I join the call to the hearing.
AUDIO ARCHIVE:
To be notified as the audio archives become available:
http://twitter.com/WaMuAudio
The archived audio will be made available at the conclusion of the hearing:
Hearing Index: http://www.viewip.net/WMI/Hearing
WMI calendar:
http://www.my.calendars.net/wmi
For any that are in Europe, here are the dial-in numbers. Use the same pass-code above.
Germany 49 01805 00 76 18
UK 44 0870 352 0483
France 33 0826 100 265
Ireland 353 0818 270 030
Austria 43 0820 4000 1561
Belgium 32 070 35 9983
Spain 34 0902 88 60 36
Switzerland 41 0848 56 01 88
Italy 39 0848 39 01 65
Not so much.. I'm just here for the free drinks.
Agreed. And what's even better is that as the pressure increases on everyone else, the pressure is reduced on equity. Actually, the smile just gets bigger. LOL
Quite. One of the four wheels on the PORv6 and GSA bus just came off.
**Hearing 6/23/2011 - CANCELLED
(posted to be stickied)
How's this. I created a PDF with the thread and included the bond pages. All are PDF bookmarks and view the PDF table of contents to easily jump to the bond pages.
Feel free to share the link.
http://www.viewip.net/WMI/Gib_pretty_incredible_bonds.pdf
**Hearing 6/23/2011 - Phone Dial-in and Audio Archive
LISTEN LIVE ON 6/23/2011:
Dial-in at 02:50 PM EST
Hearing begins at 03:00 PM EST
The bridge number is:
712-432-1001
and when prompted for the access code enter:
477420980
You will hear no music just an intermittent beep until I join the call to the hearing.
AUDIO ARCHIVE:
To be notified as the audio archives become available:
http://twitter.com/WaMuAudio
The archived audio will be made available at the conclusion of the hearing:
Hearing Index: http://www.viewip.net/WMI/Hearing
WMI calendar:
http://www.my.calendars.net/wmi
For any that are in Europe, here are the dial-in numbers. Use the same pass-code above.
Germany 49 01805 00 76 18
UK 44 0870 352 0483
France 33 0826 100 265
Ireland 353 0818 270 030
Austria 43 0820 4000 1561
Belgium 32 070 35 9983
Spain 34 0902 88 60 36
Switzerland 41 0848 56 01 88
Italy 39 0848 39 01 65
I don't see it as bad if she doesn't sign. The EC and TPS want this handled quick only because the debtor wants the confirmation hearing quick. The EC is saying "fine, you want it quick, we'll need this discovery quick"
We know the judge doesn't buy the debtor's need for everything to be rushed. So the judge may simply deny the motion to shorten and handle it at the omnibus. Then the debtor will be forced to push out the confirmation dates.
No harm to the EC. But the EC is then shown positively as making an effort to not delay.
IMHO Someone is about to work really hard in trying to get some longs to get interested in trying to flip shares. Only to leave those that sell to then chase the PPS.
"About to" might mean today or in the next few days.
My guess is RAFF is accumulating shares for a buyer. RAFF needs to move the PPS around in order to make the market and get some sellers. IMO
Walrath might sign the order to hold a hearing regarding the motion to compel. Or Walrath might do nothing and simply address the motion at the omnibus this week.
RAFF on the bid at $33.75 with 2949. ASK total is 1605 at $34.
Not ganging up. Excuse me if I misunderstood your point. But if a number of people are not understanding you then maybe it is your explanation that needs clarification.
And how do you conclude this, by the statements of the potentially guilty party? And you believe them?
I removed my post I was wrong.
But surely we have a cup and strainer. Or was that pot and straw. Need to ask the expert who posts it everyday. LOL
No problem taking profits. We all trade in our own comfort zone.
Though I disagree concerning the future of POR.6 and POR.7 and think you'll be buying back in soon.
She weathered the storm very well. Weak hands out early and possibly having to buy back in higher now.
That possibility is so slight that it is inconsequential. The broker has an obligation to provide the security. Etrade, etc is going to not fulfill their obligation? Not going to happen.
Errant trades are reversed occasionally but for good reason. Not the inferred reason you're proposing, to renege on a trade because of a settlement. Not going to happen. And you're simply spreading fear.
I've heard this all before and it is bogus. Everyone can research it themselves; call your brokers.
We are not talking about ex-div-date though. You are portraying T+3 to be a risk for any unsettled trades for a settlement. And that is not true.
That is completely bogus information. Understand T+3 first. Do not spread false information.
http://www.sec.gov/investor/pubs/tplus3.htm
I thought there was an objection to this.
WSJ: [6/15] Washington Mutual Shareholders Resume Insider Trading Inquiry
By Matt Wirz
Of THE WALL STREET JOURNAL
NEW YORK (Dow Jones)--Washington Mutual Inc.'s (WAMUQ) shareholder committee has resumed its investigation of alleged insider trading by four hedge funds involved in the case- Appaloosa Management, Aurelius Capital Management, Centerbridge Partners and Owl Creek Management.
The shareholder group had agreed to postpone the investigation in early June after reaching a tentative restructuring deal with the funds, but those talks have broken down, according to a person familiar with the matter. The committee filed notice today that it will depose representatives from three of the funds, Appaloosa, Centerbridge and Owl Creek, June 23 and 24, according to court documents.
Attorneys for Washington Mutual declined to comment.
Known as the settlement noteholders, the funds have been involved in direct restructuring talks with the Washington Mutual estate since early 2009 because they own majority stakes in bank's subordinated bonds and trust preferred securities. Delaware Bankruptcy Court Judge Mary Walrath rejected in December a restructuring plan supported by the estate and the funds and subsequently ordered an investigation into allegations of insider trading by the funds.
Attorneys for the shareholder committee deposed Aurelius in early May but postponed questioning the other funds after they proposed a new workout. That deal would have given Washington Mutual shareholders new stock in a successor entity to the bank's holding company that would own the tax benefits from the net operating losses the bank accumulated in 2007 and 2008.
In order to take advantage of those tax benefits, the new vehicle would need to acquire other companies that could use the losses to offset gains and lower their tax bills, said sources involved in the talks. The noteholders negotiated a deal in principal with the equity committee last month by offering to fund that strategy with a $100 million loan to the successor entity, according to the sources.
Washington Mutual's attorneys trumpeted the agreement in a hearing May 24, stating that it paved the way for an exit from Chapter 11 by August, just shy of the bankruptcy's three-year anniversary. But as the equity committee, chaired by individual investor Michael Willingham, and the funds hammered out the fine points, fault lines began to appear, said the person familiar with the matter.
Representatives for the equity committee flew to New York to meet with settlement holders this week and ultimately rejected the most recent version of the restructuring plan, said the person familiar. Unless negotiations resume, Washington Mutual will seek confirmation for a plan without support from shareholders at a July 6 hearing.
Washington Mutual trust preferred securities rose 1.5% to $16 per unit Wednesday while its common stock fell 7% to 12 cents per share.
-By Matt Wirz, The Wall Street Journal; (212) 416-2533; matthieu.wirz@wsj.com
I would say no way. I would expect the EC to bicker internally, but to always show a united front. Preferred's must refer to TPS. IMHO.
Interesting. Now who might the leak be.. the EC or debtor? My bet is the EC.
I believe that is a myth.
What I have noticed when I've placed buys through ETrade is that ETrade would immediately fill me with 200. I suspect they do this because then ETrade locks you into the fee. They want that fee.
I completely agree. I except a delay. Though I would never trade on such an expectation.
To keep one's sanity here always expect the worse. Then be pleasantly surprised if something positive happens.
Except everyone needs time to prepare objections if it is POR.7
So the longer it drags out beyond Friday, the more likely the dates are going to be pushed out.
Here are all the trades:
http://www.flickr.com/photos/36882708@N03/5833870998/
Anything about us would no doubt happen behind closed doors.
But here's the public items:
agenda:
http://www.fdic.gov/news/board/notice14june2011.html
video:
http://www.vodium.com/goto/fdic/boardmeetings.asp
Another article spun from the wsj article.
http://mobile.gothamist.com/2011/06/11/hipster_investor_gives_gallant_cour.php
Quite right. LOL
The next trading day after the other company gets news should make Lehman pretty active.
But the two are tied at the hip. When the other company gets big news, potentially next week, then we'll see Lehman fly along with it. At least for a little while.
I also want to add as for my attitude right now, I've never been more comfortable waiting for the outcome.
I expect equity to survive. I think we will see a POR.7 and that POR.6 is history.
In short, I'm sleeping very comfortable right now at night. The PPS can dance all it wants; I'm in a holding pattern until I see more details of POR.7
IMHO
Rosen said the plan is to have P and K as commons in NEWCO, and the EC didn't refute it, then I must think it can be done.
Speculation by me concerning any possible conversion ratio for P or K is really a stretch for me since we have no details about the plan. We simply have to wait and see the details.
I wasn't thinking in terms of why, only if it were possible in BK.
But to your point, I can only think of a haircut occurring if there were to be a payout to preferred's and there was not enough cash available for it. But I don't think that would happen.
would the easiest way to conserve cash simply be to do a straight conversion of preferred's to FV at commons PPS of some specified date?
Likewise. In any event I do think preferred's conversion value, if that were to happen, would be greater than commons. Just trying to explore the mechanics of what could happen. Just an educational exercise.