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If Second and Union LLC Stayed with WMI then the tower is WMI Properties
The Company’s primary executive and business segment headquarters are located at 1301 Second Avenue, Seattle, Washington 98101. In March 2006, Second and Union LLC, a wholly-owned subsidiary of Washington Mutual, Inc., in a joint venture with the Seattle Art Museum, completed construction of this headquarters building and was granted an initial certificate of occupancy. At that time, Second and Union LLC took ownership of a condominium interest in the 944,000 square foot office tower and the attached 700 stall parking garage and the Company’s employees began to relocate to the new space. Concurrently, the Seattle Art Museum completed and took ownership of 243,000 square feet of future expansion space that Second and Union LLC leased, and the Company’s employees will occupy, for a period of up to 25 years. The Seattle Art Museum has the right to cancel the lease, in whole or in part, at any time after the tenth year of the lease. Certain leases covering downtown Seattle locations were not renewed when their terms expired and the majority of those occupants have relocated to the new headquarters space. The Company leases an additional 466,000 square feet in other downtown Seattle locations for administrative functions.
As of December 31, 2006, the Company’s owned and leased property in 36 states is comprised of 2,225 retail banking stores, 472 lending stores and centers and 325 administrative and other offices. Administrative facilities involve the ownership or leasing of approximately 2.0 million square feet in California, 1.2 million square feet in Texas, 922,000 square feet in Florida and 489,000 square feet in Illinois.
Yes there is about 2 billion rebate for ammended 06/07 tax returns
This is the best case for wmi they are getting stronger and eveyone else is getting hammered. No bank no mark to market FDIC got that and lots of cash and income comming in on the subs
Jerl you was right good work.
Hold and lock them up at a high price the mm's will be wanting to use our shares
Next time they will learn to ask for proof
I love those 10 share trades too
Should hear something later I bought more yesterday
The A/L was due yesterday and nothing shows it was delayed
The conferece for asetts is today
Last section on matters for todays hearing
3 Trading days Your fund are clear wensday
There is a lot of stuff here that is not making sense.
Jackson227 would the write offs from the assets add to the NOL
Buyout would have to happen this week. 24-Nov-08 05:18 am Wamu has a $20 Billion plus NOL, or tax loss carryforward, with an estamted value of $7 billion. If any of the $32.9 billion in proclaimed assets is written down or off, that would also add to the NOL, e.g., a $10 billion write off for the $32.9 billion would add another $10 billion loss, or add $3.5 billion to the value of the NOL.
This is especially important for the common stock holders, since they would have to be bought out for another company to get the NOL's.
The problem is that the democrats in congress are pissed that Paulson put in the new rule that a bank taking over another bank can take on the NOL for themselves. The demoncrats want to close this new 'loop-hole' and they resume congress on Monday December 1, and they could pass the bill at any time after that. If they do (and they intend to) then the takeover value of Wamu would be reduced anywhere from $7 billion and up. So, if Wamu is going to sell, they have to act fast, or the takeover value would be drastically reduced with congress re-convenes Mon. Dec. 1
This was on another board may have something here
The filing states there is a asset confrenece the 25th so the the parties involed thus JPM will have a ideal the assets before it is made public.
http://www.kccllc.net/documents/0812229/0812229081121000000000002.pdf
They have stock in a lot of companies and are asking to sale them
They have stock in different companys and are gonna want to sell them
gooo wamu
Just got new assets boys they have stock they are wanting to sale
http://www.kccllc.net/documents/0812229/0812229081121000000000010.pdf
The 1.9 billion Dollars fdic got from jpm will be used the settle bondholder and debts of wamu banks. The holding does not get these funds sorry to say
Postpone til the Nov 25th
Go wamu
I am great in 2008 ha ha ha
NO I do not see this US Bankruptcy Judge in DELAWARE in with JPM Bank she is displease evertime FDIC and JPM Attorney speak. One of the persons at hearing notice her displeasure at them. I truly think she has seen some of the letters and knows the magnitude of this case JMO
Level II please
NOL Final Order signed and Breades Stock Restriction motion decided
The court started at 10:30am
When the wampq 7.75 was issued the common stock was $17+ pps. That translate to 47to 1 conversion. the the s3 filing to sec gives a max of 114.8 to 1 rate at 8.71 pps. after it drops past 8.71 the ratio is 114.8 to 1 on down. at $.05 the p is worth $5.74
Also if the company does a stock trade for wmi it help big time on taxes. You don't get hit with short term gains 35%
Good bye $5.00 and $6.00 Hello $8.00
Good morning new ask 6.80
Hi guys JPM got a good deal. Not as good of deal as they thought. I think the top brass knew the banks where in trouble and had a contract drawn up to give nol'd to the holding compamy. Since the banl and the holding company are the same brass had no problem doing it. If fishman had knowing about the fdic seizure they would have moved the 4.4 billion dollars to a different intress bearing account. At least they got the nol's transfered
4.4 billion postpone but the nol is decided tomorrow look at the amended court docket at kcc site. If the judge make the finial rule then this baby should goooooo
http://www.kccllc.net/documents/0812229/0812229081113000000000004.pdf
nice post
they are too late to get the max here now so hq is better now good post
but i got in at 1.30 so now way this puppie is selling
Only wamu family in the green now
Maybe the big wheels are on the beach drunk and letting out company sercets lamo
OK here is my best guesstiment. WF or JPM will offer a pps to the commons they need the common this keeps the nol for 2006/2007 refund. Acording to the Rights of the bond holder wahuq is now in default. If after 30 days the intress is not paid it goes into default. So wahuq most be paid and with instrest. The preferreds will carry over to the new company and they will begin paying divys. at that time the stock will go ou the roof $600 to $1000.00
I knew Jerle was gonna say that this puppies are lock down and padlocked baby
LOL
I don't know if anyone wants to know but at 7.50 the wampq is 114.8 to 1 conversion to common. So if you are wanting to have some fast cash at the buy out here is the numbers you need
I think anything over $7 will get approved
THIS IS A CHAPTER 11 CASE YOU HAVE TO GET ALL YOUR ASSETTS AND THEN THE TWO PARTIES MUST GET THE PREFERRES THE BONDS AND THE COMMONS WORKS OUT THIS TAKES TIME AND LOT OF BACK AND FORTH. I SEE $2 TO $7 PPS $8 TO HIGH