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Hearing at 1:45 today
News for 'MTG' - (*DJ MGIC Investment Corp Raised to Neutral From Underperform by Macquarie >MTG)
(END) Dow Jones Newswires
April 08, 2013 08:23 ET (12:23 GMT)
Copyright (c) 2013 Dow Jones & Company, Inc.- - 08 23 AM EDT 04-08-13
SOMEBODY must know something
there went five mil
Equity Residential (EQR) and AvalonBay Communities Inc. (AVB) are acquiring Archstone Enterprise LP, a portfolio of apartment properties, from Lehman Brothers Holdings Inc. for a total of around $6.5 billion in cash and stock.
Under the terms of the deal, Equity Residential, the country's largest apartment developer and manager, will acquire around 60% of Archstone's assets and liabilities, while AvalonBay will acquire roughly 40%. The deal is expected to close in the first quarter of 2013.
The combined purchase price includes $2.7 billion in cash and a fixed number of Equity Residential and AvalonBay shares valued at $3.8 billion at Friday's close.
The deal also includes the assumption of $9.5 billion of debt and $330 million in preferred equity. Fannie Mae and Freddie Mac currently hold around $8.6 billion of the debt that will be assumed in the deal.
The deal follows Lehman's move earlier this year to buy the remaining 53.6% stake in Archstone it didn't already own from Bank of America Corp. (BAC) and Barclays PLC (BCS, BARC.LN). Equity Residential, chaired by real-estate investor Sam Zell, made a bid last year to buy a portion of the apartment giant. At the time, Lehman didn't want to share control of Archstone, kicking off a high-stakes battle for the apartment portfolio.
"The sale of Archstone to Equity Residential and AvalonBay is a very positive outcome for our creditors," said Owen Thomas, chairman of Lehman's board. "The transaction delivers significant return on the investment we made earlier this year to fully control Archstone and has generated immediate and considerable proceeds for our next distribution to creditors."
Most of the 78 properties that Equity Residential plans to acquire are in relatively high-rent markets, including Washington, D.C.; San Francisco; Southern California; and New York. They include 23,100 units with an average monthly rate of $2,492.
Equity Residential plans to issue 34.5 million shares to help fund the deal. The real-estate investment trust also intends to use the proceeds from past asset sales in Atlanta; Orlando, Fla.; Phoenix; and Jacksonville, Fla. and from future sales of noncore assets.
The deal is expected to reduce Equity Residential's 2013 adjusted funds from operations--a key metric of profit in the real-estate sector--by as much as four cents a share.
AvalonBay will acquire 66 apartment properties in the mid-Atlantic, Southern California, Northern California and other markets, including 22,222 units.
"This acquisition accelerates our strategic growth vision of more deeply penetrating our core, high barrier-to-entry coastal markets," said AvalonBay Chief Executive Tim Naughton.
AvalonBay also said it expects to increase its dividend in the first quarter of 2013 by between 8% and 12%, citing the Archstone acquisition and the expectation of improving apartment fundamentals in 2013. The REIT said it plans to offer 14.5 million shares in order to help fund the acquisition.
If Equity Residential and AvalonBay don't satisfy closing conditions, they will be liable to pay Archstone as much as $800 million.
Equity Residential shares were off 1.5% in after-hours trading to $53.61, while AvalonBay shares were down 1.2% to $127.35 in late trading.
just found this
Apartment company Archstone (ASN) says it hopes to raise up to $3.45B in its IPO on the NYSE, which would make it the largest ever commercial real-estate public offering in the U.S. While the Lehman Brothers unit didn't say how many shares it plans to sell, nor at what range, analysts estimate Archstone could be worth as much as $16B. The company plans to organize itself as a REIT
News for 'GDSM' - (Gold Coast Mining Engages Haseltine Law Office as SEC Counsel)
BOCA RATON, Fla., Oct. 25, 2012 /PRNewswire via COMTEX/ -- Gold Coast Mining
Corp. (Pink Sheets: GDSM), announced today that the Company has engaged
Haseltine Law Office ('HLO") to represent it before the Securities and Exchange
Commission and other matters. HLO's initial priority will be registration of
GDSM under the Securities Exchange Act of 1934. A Form 10 will be filed soon to
initiate this process. This Form will include audited financial statements and
full financial disclosure, and will allow GDSM to become a fully reporting
company with the SEC.
The Company will be working directly with Mr. William Haseltine, Esq. who is a
former Special Counsel with the SEC. Mr. Haseltine maintains constant current
contact with the SEC staff and regularly advises clients regarding the evolution
and impact of proposed and enacted rule changes and legislation at the federal
and state levels. Additionally, he is routinely informed of regulatory
initiatives of the SEC, the stock exchanges and other self-regulatory
organizations to keep his clients ahead of the curve in their responsibilities
and requirements.
Marc Lovito, President of Gold Coast Mining Corp., stated, "We have taken the
initial key step in becoming fully reporting by working with Mr. Haseltine. We
believe that his awareness of the regulations and requirements, as well as his
familiarity with the process from both sides will be very helpful for a timely,
efficient filing."
As previously announced, GDSM's current priorities include the completion of
audits by an SEC qualified auditing firm and the engagement of an SEC qualified
law firm to file a Form 10. Their main objective is to complete financial and
securities work required in obtaining a potential listing to the OTCQB.
William Haseltine, Esq, stated, "It is with pleasure that I accept the task of
completing a '34 Act registration statement for Gold Coast. The initial filing
should be completed soon after the audited financial statements are provided."
ABOUT HASELTINE LAW OFFICE
HLO has a broad range of experience representing clients in capital-raising
transactions, mergers and acquisitions, securities regulatory compliance and
securities litigation matters. HLO has represented both new and established
companies in a wide variety of securities transactions, including venture
capital investments, private placements (including Reg D transactions), public
offerings of debt and equity securities, going private transactions, public and
private company mergers, tender offers and exchange offers.
The Firm's clients include biotechnology, information technology, health care,
food service, entertainment, telecommunications, financial services,
manufacturing and retail firms, and we have provided counseling to clients
ranging from start-up entrepreneurial ventures to multi-million dollar public
companies.
With respect to publicly-held companies, HLO attorneys are experienced in
drafting and filing all forms of Registration Statements and private offering
documents under the Securities Act of 1933, periodic and current reports, proxy
statements and other reports under the Securities Exchange Act of 1934. We
regularly counsel clients on other aspects of regulatory compliance, including
Section 13 and Section 16 reporting obligations, obligations under the
Sarbanes-Oxley Act of 2002 and compliance with listing standards of the New York
Stock Exchange, American Stock Exchange and The Nasdaq Stock Market. In
addition, HLO has experience in drafting requests for SEC no-action relief,
confidential treatment requests, and other applications for relief from
regulatory requirements.
ABOUT GOLD COAST MINING
Gold Coast Mining Corp plans to pursue growth and enhance shareholder value
through acquisition opportunities in and out of the mining industry. There are
many lucrative mining projects that are sitting idle due to lack of capital
and/or financing direction. Gold Coast will seek to capitalize on these
opportunities by securing capital, finance consulting, equipment assistance and
other financial assistance to these companies/projects.
WHY THIS STOCK IN THE DUMPS
R/S LOL
I HAVE THURS AMC
News for 'GDSM' - (Gold Coast Mining Announces Progress and Updates On Mining Joint Venture)
BOCA RATON, Fla., May 17, 2012 /PRNewswire via COMTEX/ -- Gold Coast Mining
Corp. (Pink Sheets: GDSM), is pleased to announce today significant progress in
its goal to develop its Skull Valley, Arizona claims along with its joint
venture partner, Western Sierra Mining.
Since completing its previously announced milestones (initial surveying, staking
and preparation for sampling), the joint venture has taken several steps forward
in its plans to develop the Gold Crown and GS 1-4 properties. After the initial
surveys, research and sampling programs Western Sierra has decided to narrow its
focus for the larger sampling program to a specific area of 316.45 acres of the
initial claims. It is the belief of both companies that this area is of higher
significance regarding mineralization and therefore this is where resources
should be concentrated to maximize results. Marking and flagging of additional
sampling sites within this area has been completed with crews being scheduled to
take samples for further processing.
Additionally, the joint venture announced that Western has received approval for
the Mineral Exploration Permit which allows for further sampling and exploration
of the claims.
Approval has also been received from the State of Arizona for our Plan of
Operation and the joint venture has refilled the state leases for the year
2012-2013.
Marc Lovito, President of Gold Coast, stated, "This is exciting, significant
progress towards the goal of developing our claims. Each of these steps brings
us closer to moving into the production phase of our plans."
"Our plan and objective for the next portion of the development is to prepare
and complete the larger sampling program so as to be able to focus our NOI with
BLM and the expanded Mineral Exploration Permit with the State."
Lovito continued, "We appreciate the support of our shareholders and will
continue to work on their behalf to build value. We will use Twitter and
Facebook for updates that are not part of our press releases. These tools are a
great way to let the shareholders know we are working and things are
progressing, even in the absence of press releases every other day or week."
The Company maintains the position that while it may need to issue shares as
debt is settled and as part of securing funding for the joint venture,
management has been and remains committed to no reverse splits and/or toxic
financings as part of this process. The issued and outstanding stock is
currently at 629,887,086.
ABOUT GOLD COAST MINING
www.GoldCoastMining.com
Gold Coast Mining Corp plans to pursue growth and enhance shareholder value
through acquisition opportunities in and out of the mining industry. There are
many lucrative mining projects that are sitting idle due to lack of capital
and/or financing direction. Gold Coast will seek to capitalize on these
opportunities by securing capital, finance consulting, equipment assistance and
other financial assistance to these companies/projects.
Gold Coast is currently working with Western Sierra Mining to secure and
finalize a project (Gold Star Mine), with financing built in, that the two
parties will operate within Gold Coast.
WHATS the os and float here thanks
IS THIS THE BOTTOM 3.15
News for 'NOK' - (Tablet plan tests Nokia's ingenuity)
May 07, 2012 (The Australian Financial Review - ABIX via COMTEX) -- Jorma
Ollila, chair of Finnish mobile telephones manufacturer Nokia, has signalled it
wants to enter the increasingly popular tablet computers segment. The company,
once dominant in the handsets market, has in recent times ceded market share due
to the growing consumer acceptance of smartphones such as those made by Apple or
Samsung. Nokia has struck an alliance deal with software supplier Microsoft, but
experts warn that the new products launched by the pair need to be unique and
exciting to claw back lost ground.
Publication Date: 8 May 2012
NOKIA OY AB
MICROSOFT CORPORATION
This co is very under valued
Mic heres a link
60 Minutes: The Case Against Lehman Brothers http://dlvr.it/1T1CMZ
http://www.cbsnews.com/video/watch/?id=7406224n&tag=contentBody;storyMediaBox
LEHMAN ON 60 MINUTES
scottrade called me yesterday after receiving my paperwork i sent in to convert my two escrow accounts from traditional ira's to
a roth ira account,thinking that it has no value it would not cost nothing in taxes at the end of the year, he told me next wensday before it gets transfer. Hmmmm why next wensday
SEATTLE, April 3, 2012 /PRNewswire via COMTEX/ -- The WMI Liquidating Trust
(the "Liquidating Trust"), which was formed pursuant to the recently confirmed
Seventh Amended Joint Plan of Affiliated Debtors under Chapter 11 of the United
States Bankruptcy Code (as modified, the "Plan") of Washington Mutual, Inc.
("WMI"), today announced that on or about April 16, 2012, it will begin issuing
summary statements to holders of Liquidating Trust Interests who returned a Form
W-8 or Form W-9 in connection with the solicitation of acceptances on and
elections pursuant to the Plan. As previously announced, the Plan became
effective on March 19, 2012.
The summary statements to be issued on or about April 16, 2012, will provide a
summary of the value of a particular holder's Allowed Claim (as defined in the
Plan) as of the Effective Date, distributions made with respect to such claim,
and the balance of Liquidating Trust Interests held by that holder after giving
effect to such distributions made on March 23, 2012. An initial valuation of the
Liquidating Trust Interests also will be included in these statements, for tax
reporting purposes. At the end of each calendar quarter, subsequent statements
reflecting updated information will be mailed to holders of Liquidating Trust
Interests.
The Liquidating Trust also announced today that on March 23, 2012, consistent
with the Plan, a onetime disbursement of $326.8 million (or $335 million less a
"holdback" in respect of the payment of certain professional fees as
contemplated by the Plan) was made to members of Class 17A (as described in the
Plan) across holders of approximately $6.1 billion of claims (after giving
effect to adjustments for applicable exchange rates for foreign currency, if
any) and that no additional distributions of cash or Liquidating Trust Interests
will be issued to members of Class 17A. The chart below summarizes the cash
distribution rates for Class 17A by security and CUSIP.
Security Target CUSIP / Cash Distribution Rate Cash Distribution Rate
ISIN (in issuance currency) (in $USD)
per 1,000 of Principal in per 1,000 of Principal in
Currency of Respective Issuance Currency of Respective Issuance (1)
WMB Senior Note 93933VAY4 $53.938837 $53.938837
Due Feb. 2011
WMB Senior Note 93933VAZ1 $53.943818 $53.943818
Due May 2009
WMB Senior Note 93933VBD9 $54.492488 $54.492488
Due June 2010
WMB Senior Note 93933VBE7 $53.746629 $53.746629
Due June 2010
WMB Senior Note 93933VBF4 $53.922068 $53.922068
Due Nov. 2009
WMB Senior Note XS0266770840 (2) euro 53.811432 $78.543167
Due Sept. 2011
WMB Senior Note XS0284968426 (2) 54.165377 pounds Sterling $99.664294
Due Feb. 2012
Further information about WMI Liquidating Trust can be found at
www.wmitrust.com.
(1) Payments were made in U.S. dollars at the mid-day spot rate on the petition
date, September 26, 2008. Specifically, the exchange rates used were $1.4596 per
Euro and $1.8400 per GBP.
(2) ISINs held through Euroclear and Clearstream in non-U.S. foreign currency
denominations.
SOURCE WMI Liquidating Trust
www.prnewswire.com
Copyright (C) 2012 PR Newswire. All rights reserved
BID MOVED UP .65
WMIH.G IN MY SCOTTRADE WATCH LIST ALL ZEROS
News for 'WAMUQ' - (Washington Mutual, Inc. Completes Chapter 11 Restructuring Process Distributions to Creditors and Equity Holders Expected to Commence)
SEATTLE, March 19, 2012 /PRNewswire via COMTEX/ -- Washington Mutual, Inc.
(Pink Sheets: WAMUQ) ("WMI" or the "Company") announced that its Seventh Amended
Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the United States
Bankruptcy Code (as modified, and as confirmed by order, dated February 23,
2012, the "Plan"), became effective today, marking the successful completion of
the chapter 11 restructuring process.
In connection with the Plan becoming effective, the Company will commence the
distribution of funds of approximately $7 billion to parties-in-interest on
account of their allowed claims and the distribution of substantially all of the
stock in the reorganized company to equity holders. The Company's common stock,
traded over the counter under the ticker symbol WAMUQ, has been cancelled.
As a result of the Plan becoming effective, WMI has emerged as a newly
reorganized company, WMI Holdings Corp. ("WMI Holdings"), which will consist
primarily of WM Mortgage Reinsurance Company, Inc. ("WMMRC"), a wholly owned
subsidiary of WMI that is incorporated in Hawaii, and which will be funded by a
$75 million contribution from certain WMI creditors. In addition, the Company
will have access to a $125 million senior credit facility to be used for working
capital and permitted acquisitions and originations in the financial services
sector. Initially, the primary business of WMI Holdings will be a legacy
reinsurance business that is currently operated in runoff mode by WMMRC.
"The outcome of this process is a significant achievement for the equity holders
of WMI, who will have the opportunity to benefit from an ownership interest in
the reorganized company," said Michael Willingham, Chairman of the Official
Committee of Equity Security Holders for WMI and a member of the Board of
Directors of WMI Holdings. "The new Board of Directors will form a Corporate
Strategy and Development Committee to begin exploring opportunities available to
the Company to enhance the value of the reorganized Company's assets for the
benefit of the company's new shareholders."
As previously announced, Michael Willingham, Diane Glossman, Mark Holliday, Gene
Davis, Timothy Graham, Steve Scheiwe, and Michael Renoff will comprise the Board
of Directors of WMI Holdings.
SOURCE Washington Mutual, Inc.
www.prnewswire.com
Copyright (C) 2012 PR Newswire. All rights reserved
FINALLY MAYBE SOME GOOD NEWS NEXT WEEK IMO
GIDDY UP O-YAH
DALLAS, Feb. 23, 2012 /PRNewswire via COMTEX/ -- Southridge Enterprises Inc.
(Pinksheets: SRGE.PK - News) ("Southridge" or the "Company") announced today
that the Company has initiated a program to increase future output of the Cinco
Minas mill in Jalisco, Mexico, to 500 tons per day (tpd). The Company is
currently negotiating a contract with an engineering firm based in Mexico City
to perform an assessment of the mill site at the Cinco Minas as a basis for the
planned expansion to 500 tpd mill. As part of the previously announced Mill
Production Program, Mr. Juan Eduardo Lopez Romero, the Company's geologist and
advisory board member, will be coordinating the finalization of the engineering
contract for the Cinco Minas mill expansion program.
"We are excited to announce our plans to increase the output of our Cinco Minas
mill. This is a major step forward for both the Company and shareholders," says
Southridge President Michael Davies, "as it has always been our goal to
implement a production schedule that would increase both revenues and add to
shareholder value. Our focus is to turn Cinco Minas into a world-class precious
metals mining operation."
Currently, Cinco Minas hosts a 60 tpd mill and has a significant confirmed gold
and silver resource of 235,000 oz. gold, and 23.3 million oz. silver with 80% of
the known vein system at Cinco Minas has yet to be tested. Recently, Southridge
announced rock sampling and testing of the surface ore at Cinco Minas. In 2007,
International mining consulting firm Behre Dolbear released a report on gold and
silver ore stock piles and waste dumps at Cinco Minas. The Behre Dolbear report
recommends the expansion of Cinco Minas and suggests that there is 2 year supply
of ore production currently on surface at Cinco Minas.
To the north of Cinco Minas is First Majestic Silver Corp.'s San Martin Mine,
which hosts a major production operation in a 900 tpd cyanide mill with a Proven
& Probable reserve of 6,790,782 Ag, a Measured and Indicated resource of
7,435,823 oz. Ag and a further 48,900,000 oz. Ag Inferred resource.
Additionally, Mathers Research has initiated research coverage of Southridge,
with a 'Speculative BUY" Opinion and a near term price target of $0.20 cents per
share.
SRGE: TRAINS LEAVING GOLD PLAY
SRGE GOLD PLAY BOUNCE TIME
SRGE GOLD PLAY BOUNCE TIME
SRGE GOLD PLAY BOUNCE TIME
News for 'WAMUQ' - (Washington Mutual Releases Confirmation of Plan of Reorganization)
Feb 22, 2012 (Close-Up Media via COMTEX) -- Washington Mutual, Inc. ("WMI" or
the "Company") announced that the United States Bankruptcy Court for the
District of Delaware (the "Court") will enter an order confirming the Company's
Seventh Amended Joint Plan of Affiliated Debtors Pursuant to Chapter 11 of the
United States Bankruptcy Code (as has been modified, the "Plan").
According to a release on February 17, in confirming the Plan, the Court
reiterated its prior rulings in which it found fair, reasonable and in the best
interests of the Company the Second Amended and Restated Global Settlement
Agreement (as amended, modified or supplemented from time to time, the "GSA")
entered into by parties including WMI, JPMorgan Chase Bank, N.A. ("JPMC"), and
the Federal Deposit Insurance Corp. (the "FDIC"), both in its individual
capacity and as receiver for Washington Mutual Bank ("WMB").
Additionally, in confirming the Plan, the Bankruptcy Court also approved certain
modifications contained in the Plan that were agreed to during a recent
mediation (the "Mediation") by and among the Debtors, the Official Committee of
Unsecured Creditors (the "Creditors' Committee"), the Official Committee of
Equity Security Holders (the "Equity Committee"), and certain significant
parties in the Company's chapter 11 proceedings.
The Plan will become effective after the Court enters a written order reflecting
this ruling and certain Plan conditions have been satisfied.
Under the Plan, WMI will establish a liquidating trust to make distributions to
parties-in-interest on account of their allowed claims. The Company, and
subsequently the liquidating trust, will distribute funds in excess of
approximately $7 billion. The Plan, by virtue of implementing the GSA and the
modifications agreed to at the Mediation, will result in significant recoveries
for the Estate's creditors and distribution of substantially all of the stock in
the reorganized company to current equity holders.
William C. Kosturos, the Chief Restructuring Officer of Washington Mutual, Inc.
said:
"Approval of the Plan represents a monumental achievement for the Company and
its stakeholders. The Company is gratified by the Bankruptcy Court's approval
and is looking forward to implementing the Plan and initiating the distribution
of recoveries to the Company's creditors and equity holders."
The Company also announced that on February 16, it, JPMC, the Creditors'
Committee and the Equity Committee have reached an understanding with certain
holders of the Company's preferred securities regarding the ownership of certain
trust preferred securities that were issued prior to the Company filing for
bankruptcy protection in September 2008. The so-called "Trust Preferred
Consortium" and "TPS Group" (together, the "TPS Holders") claimed that they
owned the securities in question, an issue that has been contested by the
Company and JPMC during the pendency of the chapter 11 proceedings. The
Bankruptcy Court previously ruled in favor of the Company and JPMC in relation
to this matter and recent motions seeking various forms of relief have been
dismissed. Additional information regarding the terms of the settlement may be
found in a stipulation and plan modification filed with the Bankruptcy Court on
February 16.
More information:
www.kccllc.net/wamu
DO I HEAR .1C TODAY
News for 'SRGE' - (Southridge To Confirm Ore Stockpiles at Cinco Minas Through Rock Sampling Program)
DALLAS, Feb. 21, 2012 /PRNewswire via COMTEX/ -- Southridge Enterprises Inc.
(Pinksheets: SRGE.PK) ("Southridge" or the "Company") announced that it will
conduct additional rock sampling of the ore stockpiles at Cinco Minas to confirm
the grades and tonnage cited in the 2007 Behre Dolbear Report, as part of the
recently announced exploration program.
Behre Dolbear is an internationally recognized and respected mining consultancy
firm with offices around the globe. Behre Dolbear was commissioned in 2007 to
perform a review of the Cinco Minas property, previous exploration activities
and existing stockpiles & waste dumps located on surface. The review was
published in a report by Behre Dolbear and outlined a series of observations and
recommendations regarding exploration, short-term production and further
expansion at the mine.
The report concluded that while further sampling is required to attain an
accurate estimation of both the grade and volume of material at Cinco Minas,
Behre Dolbear stated that the short-term feed for the 60 tons per day (tpd)
processing plant could be supplied by the existing stockpiles and wastedumps.
Furthermore, the report cites that an estimated 35,000 tons of ore is available,
which accounts for nearly 2 years of production.
Southridge Mineral's geologist Juan Eduardo Lopez Romero, who is directing the
Company's recently announced exploration program, will oversee the rock sampling
and measurement of existing stockpiles and waste dumps.
"This is an important step for Southridge, as the Behre Dolbear report provides
the ground work for a production and exploration plan at Cinco Minas for both
the short and mid-term," stated Southridge President Michael Davies. The Company
plans to follow the recommendations of the report and begin the rock sampling
program of the ore stock piles. The sampling activities are a key component of
the Mill Production Plan and initial production operations that will utilize the
reactivated 60 tpd mill and the 2 year supply of ore stock piles on site.
The rock-sampling program will allow the Company to confirm the estimate of the
stockpiled ore's gold and silver grade and rely on the measurement and density
calculations that are vital for precise estimate of the overall tonnage. These
two factors will provide for the forecasting of potential revenues for the first
two years of production at Cinco Minas.
Additionally, Mathers Research has initiated research coverage of Southridge,
with a 'Speculative BUY" Opinion and a near term price target of $0.20 cents per
share.
THEY KNOW SOMETHING
THIS IS GOING TO BLOW UP BEFORE TO LONG
THE MARCH TO .20C IMO
consolidate a little bit, its up like five dol
on the stock
I bought them @ .50c this morning made 500.
this is the first time i made a profit playing options
lost about 3gs playing dif one like starbux gave up and
then i played stx gave me a little confidents again
SOLD 6@ 816. WEEEEEE
PULLING BACK NOW