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And I believe that is what will happen. Coz they risked their money in something that they (GBG) could not provide the return. And as they're in the upper hand, GBG has nothing but to surrender to their terms. Its just like someone making 10 fold return on their investment in the stock market, which is not normal but also not rare.
You're confident because you have all the facts and the facts are? At what price you were in?
Any new 8Ks?
dont be a crybaby. nobody invited you to be invested here.
University of Michigan and Harvard with distinction. We definitely have a smart guy on the team.
20K A MONTH? DOING WHAT?
Also, more dilution?
retails who play wamu- don't think they care enough about capital loss/gain stuff..this is a hope land.
it may probably be someone selling to themselves...14 dollar transaction cost if scottrade was used. Since the price did not move with the volume.
wasn't me.
No idea. Check with BOD?
Found this somewhere in footnotes---
The Retained NOLs include approximately $17.74 billion of 2008 NOL carryforwards (remaining after the 2008partial utilization of the approximately $32.5 billion NOL for 2008 pursuant to the prior 2008 five-year refundclaims), and a 2009 NOL carryforward of around $88 million. WGM 000.38649. If the Effective Date is on orbefore December 31, 2010, and if the Stock Loss was claimed prior to such date, the WaMu Group would again
be
expected to report a several billion dollar NOL for 2010. However, if the Effective Date does not occur in 2010 andthe Stock Loss is not claimed in 2010, then the WaMu Group may be in a taxable position for 2010 due to the largeamount of interest income that was received by the Debtors on October 7, 2010, when $4.77 billion of tax refundswere received from the IRS, Disci. Stmt. at 157.
551
The Stock Loss represents an estimated $5 billion worthless stock deduction upon the abandonment by WMI of its stock investment in WMB, which the Debtors expect to claim prior to the Effective Date. Brouwer Interview.The Debtors have sought a private letter ruling from the IRS to the effect that such Stock Loss will constitute anordinary loss. If so, this would itself result in a $5 billion NOL for the year in which the Stock Loss is claimed.Disci. Stmt. at 157
Page 148
http://www.scribd.com/doc/50444249/Washington-Mutual-WMI-Black-Horse-Capital-Management-LLC-s-Objection-to-Supplemental-Disclosure-Statement-for-the-Modified-Sixth-Amended-Joint-Pla
Not sure what the heck this is going to relate to GBG...but here is an update.. read the link and explain someone!
http://www.shantagold.com/investors-and-media/company-releases/2012/exercise-of-warrants-and-issue-of-equity-10-16-2012
lol..i think most people here own more shares than institutions.
WMI Holdings Corp.
Institutional shareholders
Greywolf Capital Management LP
as of 27 Mar 2012
0 7.47%
Catalyst Capital Advisors LLC
as of 30 Jun 2012
1.04m 0.52%
Capital Research & Management Co. (World Investors)
as of 30 Jun 2012
823.10k 0.41%
Flaherty & Crumrine
as of 31 May 2012
0 0.14%
Capital Research & Management Co. (Global Investors)
as of 30 Jun 2012
45.94k 0.02%
Summit Capital Management LLC
as of 30 Jun 2012
0 0.02%
Fidelity Management & Research Co.
as of 31 Jul 2012
20.80k 0.01%
Haberer Registered Investment Advisor, Inc.
as of 30 Jun 2012
19.80k 0.01%
Cougar Trading LLC
as of 30 Jun 2012
0 0.01%
Acadian Asset Management LLC
as of 30 Jun 2012
0 0.00%
WMIH Board of Directors
Mike Willingham << appointed by Equity
Mark Holliday << appointed by Equity
Timothy Graham << appointed by Equity
Diane Glossman << appointed by Equity
Steve Scheiwe << appointed by Equity
Michael Renhoff << appointed by TPS
Eugene Davis << appointed by AAOC
Also in one of his case studies, he mentions this...so the NOL's could be double??????????????
Net Operating Losses
We have assisted you in assessing the value of a corporation's Net Operating Losses (NOLs) for many years-You have, with our assistance, accurately analyzed the situations existing at Eddie Bauer, Mirant, Delta Airlines, Armstrong and countless other corporations possessing this valuable attribute. The rules in this area are complex. What is an "ownership change"; what happens when one occurs? Are the NOLs summarily forfeited or are the "penalties" imposed for "trafficking" in such NOLs more subtle than that? How do these rules differ for corporations that experience ownership changes in the course of a Title 11 or similar case? What rules apply when a loss corporation experiences multiple ownership changes? What new rule, instituted by the I.R.S. in 2003, but still not widely-understood, has the effect of nearly doubling the value of a loss corporation's NOLs?
http://www.robertwillens.com/case-studies
what about this one ?
MARCH 8, 2011 - VOLUME 5 ISSUE 45 WASHINGTON MUTUAL SCORES A MAJOR TAX VICTORY
PRINT REPORT
On November 5, 1981, Home Savings of America, FSB, (HS), submitted a proposal to acquire Southern Federal S&L, (S), Hamiltonian Federal S&L, (H), and Securi...
http://www.robertwillens.com/index.cfm?fuseaction=report.searchResults&nodeID=326800CA-068D-4672-8194-BCA20C199D20&keyword=washington+mutual&postedAfterDateTime_month=&postedAfterDateTime_day=&postedAfterDateTime_year=&postedBeforeDateTime_month=&postedBeforeDateTime_day=&postedBeforeDateTime_year=&x=0&y=0
This article was written by this guy and he's believed to be one of the 100 influential tax experts..so this must be true for wamu.
http://www.robertwillens.com/biography
Now what ?
In the ruling, LTR 201108001, the IRS truly determined for perhaps the first time that a bank constitutes an operating company. While the IRS doesn't identify the parties it's referring to in such rulings, this appears to be the one that Washington Mutual Inc. requested from the IRS concerning the character of its loss resulting from the worthlessness of its stock in Washington Mutual Bank. One of the key questions in that case was whether the worthless stock held by Washington Mutual Inc. is eligible for ordinary loss treatment for the purposes of bankruptcy recovery.
http://www.cfo.com/article.cfm/14561062
poster who?
Perhaps...
WMIH @ $2.30 has a Market Capitalization of $1.91B. As of the end of last quarter, they had $1.54B in net cash & securities. They also just purchased a San Fransisco building (for their headquarters), which according to their filings is worth $272M. That gives their actual business a value of only $98.4M.
To put in “per share” terms…. $2.30 is stock price, but they have $1.86 in net cash and another .33 in their building value.Oops..its not WMIH..its Zynga Poker..if online poker is legal and if Zngya actually goes in partnership with casinos. worth a look at this price.
This is the most interesting one of your call (if it really happened)...
Is Bankruptcy a possible avenue?
He said since the numbers are not currently out that he is not entirely sure, but again reiterated that the sale of one of the mines or the entire company would likely be the direction instead of Bankruptcy. We also discussed that the sale of the Hollister mine is likely going to be the first step in the event that they cannot secure liquidity. He pointed me back to the press release to reiterate that they are very serious in evaluating the sales of the mines and have hired an independent bank to value their assets.
LOT of money put? don't go all to way to pray for them being destroyed. just because you didn't do the dd..doesn't mean..blah blah
StoneCastle Cash Management
Yes, sometime money is expensive to make.
don't throw your money like this- following someone like sierra. not saying whether sierra is good or not but do your own DD before making investments. look at the management, look at growth and look at debt. focus on these 3 things, just like you focus when you are lending money to someone..you focus on the person, the need and the debt the person is already in.
how this article relate to your theory?
http://www.cfo.com/article.cfm/14561062
The case at hand involves a parent company, which we'll call ParentBank, and a subsidiary, SubBank. SubBank, which, according to the IRS, "provided a broad range of banking services," was seized by the Office of Thrift Supervision and placed into receivership of the Federal Deposit Insurance Co. The FDIC then sold SubBank's assets to another company, "BuyerBank." As a result of the seizure and the asset sale, ParentBank and a nonbanking subsidiary, "NonBank," filed for protection under Chapter 11 of the U.S. Bankruptcy Code.
In the receivership sale, BuyerBank bought practically all of SubBank's assets and assumed all its deposits and other of its liabilities for cash in a taxable transaction. ParentBank reported a net loss on its consolidated income-tax return related to the receivership sale.
ParentBank had reported that more than 90% of SubBank's aggregate gross receipts for all taxable years had been from interest income on, and gains from the sale of, real estate loans (including mortgage-backed securities) and consumer loans; service charges, fees, and commissions; and other noninterest income from operations. All such gains qualified for ordinary income treatment under Section 582(c) of the Internal Revenue Code, according to the IRS.
The IRS concluded that SubBank's loss from the worthlessness of its S stock would be an ordinary loss, rather than a capital loss. In doing so, the service essentially ruled that Congress really didn't intend for such rulings to turn on a black-and-white decision. Instead, Congress intended that we analyze the activities that the company undertook to earn that interest income. If those activities are business activities, then the corporation should not be penalized for the interest income it has earned. Interest income, in short, is no longer inherently passive.
9.5 MILLION settlement. will bounce in 4th qrtr
when we go grocery shopping or liqour shopping or whateve shopping..lets say used car..we go all the way to find the best deal. Why not in evaluating companies? I wanted to go in at 25 cents, when it was dropping and then after the announcement of stoppage of production of gold, it went down to 8 and even in the 7 cent range..but by the time it was in 25 cent, i thought i had read enough to be in the safe side and I hope I do. I was in around 8 cents. Good luck to all but the managment is no more than wanna be Warren Buffett with no exit strategy. The new CEO has a good track record and hopefully he is shareholder oriented. I hope all longs and opportunistics shareholders get something, but I am not certain.
And with that 35 million they can get the return anywhere from 100 per cent to 900 per cent. Which is significant! I don't think this is a 10 bagger. I'd be happy if I get my money return at this point.
I don't know. The term of the First DIP which has already been approved- they'll take 15% of any sales of the assets. So, if equity gets anything..that would be at the 85 per cent remaining value and also I think sell of the assets will happen before June 2013.
I don't know. The term of the First DIP which has already been approved- they'll take 15% of any sales of the assets. So, if equity gets anything..that would be at the 85 per cent remaining value and also I think sell of the assets will happen before June 2013.
Management sucked big time in this company
as some say - something will happen soon..well if nothing happens by the end of the year..we'll get some more of WMIH for even cheaper price due to year end selling.
I wanna go to sleep until this starts to trade again!
alcoholic gambler
In case you forgot, today is the 4th anniversary of the largest commercial bank collapse in US history. WM