Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
...STIP never gets read or even referenced........ANYWHERE........
...the FDIC wanted the litigation stopped but had to deal with UWBKQ/Guy, which was in BK CT................since a settlement with THE BANK = money for UWBKQ....................UWBKQ ain't getting nothing until Claimants No: 1-7 get paid...........so Guy says, we need to pay/settle/satisfy DOGS TAGGED 1-7......and then we want, say $50MM............................
...so the STIP would require DOGS TAGGED 1-7 to be "satisfied"..............however.........whiskey, weed, CASH........or other considerations (see JPM disputes)..........
...anyhoot, that's the deal..............and the secret STIP never appears anywhere......no precedent against the FDIC........the BK CT simply acknowledges special proceeds distributed according to the BK Code/POL...............done...............and the FDIC can get full litigation releases from UWB and UWBKQ......AND RETAIN RIGHTS TO ANY AND ALL RECOVERIES including D&O litigation......ETC.....no frankie problems, no JOB KICK-BACKS, and no insider trading....
...it's over, kind folks..............we broke the CODE and there it is....................................
...aimho....................the twins don't have one....yet......
.....SPECULATIVE value of this stock is about 50 cents p/s........
...UWB could sue for any and all recoveries - - UWB could've continued with the APPEAL - which UWBKQ/Guy dropped..............UWB could have even asked the APPEALS COURT to return the case back for a full trial..................ETC..........
...my point is WE - WE held some cards and completely folded all of them..........................WHY..............???????............
...there could have been numerous 'smoking guns' behind the scenes of the SEIZURE...............frankie ain't off the hook yet, imo.............................................
...of course, the stock is not really trading, other than some daily clutter.............................it's a penny or a dollar fifty - - with 50/50 odds........................aimho........
...I was advised to stay off of SM..............so I won't........
...follow the litigation - - BK, in this case.....................
...distributions, if any, are by-the-book procedural.............
...WE - WE do understand that there has been a TREMENDOUS amount of legal activity within the BK CT..............like mountains of paper..........JPM and the FDIC are at war in our little bitty rabbit turd BK..............................too weird..............
...we may get some very, very good news soon...........might only be a buck per, but could be more.....................this whole STIP maneuver is a crafty SOB........................rocket science in file folders......................................aimho........
.......100% POL posting...........................................
...therein lies the final determinant............................
...what will it be..............??????????........................
...available proceeds and distributions...........................
...s/p will either DROP to .01 or ROCKET past $1.50...instantly...
...THE END.......................
... WE - WE dropped the APPEAL because............................
...dropping the APPEAL was in THE BANK's "best interest".................
...the FDIC's position is the SEIZURE was justified.............but ongoing litigation was not........................the problem is/was any STIPULATION had to be presented in the BK CT.............unless the STIPULATION itself, as agreed by both parties, provides for the closure of the BK.......................ingenious legal maneuvering..............
...so what did the FDIC put into the STIP..........???????...........the BK POL will reveal............very, very soon..................................
...opinions only hereon............................mine...........
...the case file transcripts show all of the secret offering notices and some interesting internal emails among the OTS, FCNCA, OCC and it looks like the FDIC............one email from, I believe a gal from the OCC, indicates something like "we got it"......................very, very strange but who knows....................our legal beagles went thru the transcripts but Buffy never on touched any of the that...........
...imo, the entire bidding process, if there even was one....................is highly suspect.........................
...many more oddities related to this DISASTER...........now just water under the bridge................................
...aimho...............lawrence.......................btw, I'm still holding out for the STIP...........between $50MM and $70MM (before BS/Emp 32%) to Claimant #8................the BK has just drawn out the process....................................aimho.............
...I'll pull the BK docks and review..........................
...there is a BK CT filing, I believe as a response to HARVEY...........or possibly the original claimants' response statements where JPM demands UWBKQ common stock - given that JPM has a $34MM......??????............secured claim.......?????......
...it appeared as if JPM was "in" on some pending arrangement within the BK and wanted upside and not just the full claim balance............
...then we get a direct settlement with JPM for $80MM which has somehow vanished - - possibly was considered a recovery within this STIP - that does not exist..............or does it.......????????................
...this UWBKQ matter just might become interesting very soon.......
...aimho.....................HE - HE is still not talking to me........but he is making some noise...........................a good sign, imo...........................billable hand motions are a good sign................trust me.....................
...how does the mortgage payoff look at $1.80 PER SHARE..............?????.......
...just asking.........................one of OUR - OUR former attorneys mentioned that amy used the majic word near the end of her decision.....................MAYBE.................I double-checked and just found it......blows open an APPEAL every time, the expert says, not me.................amy double-spoke and used gobble-de-gook, imo, on nearly every major point...............again, imo.................imo, larry.........we had a rock solid APPEAL and dropped it after filing the NOA........................with no explanation...........
...since we have persevered this far with UWBKQ..............why not hang on and see what spurts out of the BK CT.......?????......
...could be a STIP, could be closure and could be that doggone weird $1.80 per somebody keeps bringing up...................I forgot the math on the $1.80 but it makes sense......................aimho............
...largest 'Claimant' is JPM at about $34MM - the only real player and JPM is dealing directly with the FDIC...............in our non-existent BK process....................hello......??????....
...the FDIC would have absolutely no standing whatsoever from wheeling/dealing in a seized bank's bankrupt holding company's pathetic bankruptcy................................that's just my opinion, larry.........................which is the same as yours, larry...................we finally agree on an issue.............
...the only way the FDIC even peeks at the UWBKQ bankruptcy process is if they entered into a..................STIPULATION...........did I spell that correctly, larry..........??????............and take note that I never mentioned the word "agreement" nor "settlement"...........
...btw, no comment on anything related to UWB or UWBKQ........and yes, I'm going with the no monies available to Claimant #8..........doesn't deserve one dirty penny...................and the Intervenor should probably even sue those low-level credit clerks who made some bad loans that fcnca couldn't profit from......................
....."be patient.....this is how they do it"........................
...pre-amy high p/s was about 34 cents to sell, 39 to buy..........
...and we knew amy would scold, but uphold..............with all of the unknown appeal problems, etc......................
...now we have SOLID EVIDENCE the case was settled...........significantly-sized SD's, with or without this holding family credit union stock (fcnca) in the deal.................and NO SPECULATION........?????????..........6 pennies per share........??????????????........mayhaps there is no stock or very few shares to BUY........
...I'm sitting here in an insane asylum and I ASK the world..................AM I CRAZY..............??????...........
...gotta opine all comments here, larry..................
...a suspension in trading this offal will only mean one of two SEC/TRUSTEE edicts.....................1. POL and elimination of UWBKQ........or..........2. POL and related distribution to UWBKQ and attached BOD announcement of a Special Dividend..................easy stuff..................
...so be positive and trust in GOD............................
...WHAT'S TOTALLY FREAKISH is that some nice folks in CO believe WE - WE settled our claim and are due re-numeration proceeds in either cash or stock in fcnca.................
...apparently/allegedly (hi larry), somebody involved in the seizure conspired with someone else, etc., etc., and the CRP was real, etc., etc., and amy could only uphold the seizure..............
...and at the APPEAL, the APPELLANT could have requested a full trial................but APPELLANT dropped the APPEAL and RESPONDENT/Intervenor (per the STIPULATION apparently/allegedly - - you still here, larry..??) requested that BS and any and all other retained counsel - RESIGN..............very standard, we hear......................
...what is the meaning behind 6 pennies p/s........????.......
.....YE2013 FINANCIALS = reality..................................
...if the business was profitable and all the metrics were strong.....rock on...................................
...but if the INK IS RED..................more mumbo jumbo nonsense............nicotine addicts..........gambling addicts (playing with this junk).................alcoholics........?????..............LOSERS..............
...and 50K in a fake fendi won't change my mind.............hi-lites or not..............$4MM - we talk........
...NJOY's 'r' US..................................
...too many questions left UNANSWERED............................
...our bank was SEIZED without justification.......................
...WHY NO CLOSURE....????..be that final POL from the BK CT.........
...WHY NO COMMENT FROM ANY OF OUR ATTORNEYS......??????.............
...we'd ask the TradeinTULIPs gent to get a Timberly TANTRUM #3 update - - but he's not speaking..........................
...and why no action on the ITR.......??????..........the JPM and BAC monies will soon be floating................did we GIVE UP on those along with the entire CASE..............??????.................
...lotsa folks in CO are still working on the UWB vs. OCC.....and the UWBKQ BK.............................
...maybe I'm the only soul left HOPING for news of the STIPULATION..............we'll see..............
...FOR ENTERTAINMENT PURPOSES ONLY................................
...lotsa very undefined events related to the entire UWBKQ/United Western Bank situation.......but whatever.......LIFE IS STRANGE................
...there is still a little bitty, itsy bitsy, teeny weenie CHANCE that guy entered into a STIPULATION with the FDIC.............some very credible folks are 100% convinced...........?????.........
...the delays in the BK CT are not explained...................
...MOON ROCKS..............................but this situation will END ONE DAY VERY SOON.............................guaranteed.......
...stock should not be allowed to trade...........................
...doesn't really even EXIST, other than in someone's imagination..............
...and why is the FDIC messing around in a pitiful bankruptcy..............?????????.............too weird.........
...the FDIC initiating the D&O suit is also pathetic.............
...MOST BIZARRE situation in the history of banking...............
....ABSOLUTELY, POSITIVELY AGREE...................................
...uwbkq is long dead and gone......................rotting roadkill..................nasty....................
...some of us die-hards did get a legal opinion on UWBKQ.................tripe.............nonsense...........stated that the case was long settled........????????.........fools...........ELEVEN supporting docks..............is that all......??????............
...the FDIC claimed that the assignment of the Receiver was justified but that some administrative measures should have been implemented by the OTS - - prior to the SEIZURE................like verifying that the CRP funding was coming directly from GS..........then accelerated the SEIZURE.........??????...........so what......??????.....
...GRAB your 4.5 dirty pennies and MOVE ON.............before the POL...............
.....doing THE MATH on this fcnca conversion settlement............
...to get 75,000 shares of FCNCA, or in that range, we need to convert each of our 39.5 shares for 1 FCNCA share..........which becomes $5.50 per share - give or take................IMAGINE THAT.......fin - - Mother/F-ing - - fifty........PER SHARE...............too cool.....................
................some variations..............plus or minus.........also gotta pay the HELP...........................
...but this is getting REALLY, REALLY GOOD...............really, good..............
...opinions only hereon......................opinions...........looks like most of the little people are gone..............GAVE UP.......QUIT.........
...why all this "activity" over at FCNCA............???????.........
...btw, what is FCNCA...........????????.....................just asking.............saw their bank sign on one of my bank branches....frankie: fess up..................................
...so what'll it be.......?????.........1 share of FCNCA for 45 shares of UWBKQ.................?????......hello.......????.......
...why did all this Wellington Capital Management/FCNCA/UWBKQ/FDIC/BK CT/SEC incest re-SURFACE.......???????.......just asking questions, larry...................
...also, the FEDS took down Wellington about the time "the clown" accidentally seized our bank.............probably nothing there but "birds of a feather"...................just an observation, larry........................
...the real FUN with this UWBKQ mess HAS NOT EVEN BEGUN......yet..............very cool...............opine, larry................WE - WE just did.......................
...TWO CLARIFICATIONS.......................................
...1) BK forfeits all tax declarations - that's why we waited and filed the amended returns in TY2012 and then filed BK in 2012 - - and received the $4.4MM refund - capturing most of the NOL's;
...2) the 832,000 shares of FCNCA = $187-million (not $18-million)............no other comment on fcnca or frankie......
....................and no other comments............
...thanks for the nice and not nice PM's...............understand WE - WE cannot respond......................WE - WE love all of God's children....................................
...would I exploit nicotine addicts to make a fast BUCK......?????
...sure, why not...................problem is........22-C managers have never made one CENT..............and never will.........
...but do these LOSERS get chicks......?????........maybe that dowdy daydreamer with the PINK HI-LITES..................
...Freddy is not ready.........................sorry..........
...and btw, the CHINESE are not smoking low-nicotine MOLDY MULCH.......................aimho..........................
...those NJOY vapor e-cigs are very COOL.....................if I was a nicotine addict, I would be sucking on NJOYs......
.....BUFFETT....????.....TAKEOVER.....????........Chinese embracing smoking cessation products and low-nicotine, watered-down, mulchy cigarettes...........................?????.................
...apply FUNDAMENTAL business metrics to 22-C............gross revenue trends, profitabilities (gross & net)........FREE CASH FLOW............whatever that is......................
...the only hope for this stock is DELUSIONAL SPECULATION...................the greater fool theory.........
...buying in - - no can do..........sorry................not sure even the hi-lites would change my decision....................and I always get a heart-shaped box of dark chocolates - - works every time and this is the only gift that I do not put in a Tiffany's box (another trick that is 100% effective - trust me)...................
.......".....assignment of a Receiver was justified. There were additional measures which needed to be fully implemented"..........................
...just paraphrasing a thought.................................
...so, Fred, are these boys saying something to the effect of WE ARE FASCISTS AND WE SEIZED YOUR FILTHY CREDIT UNION.......BUT WE F/ed UP IN THE PROCESS AND SO WE ENTERED INTO A STIPULATION TO BRING A RESOLUTION TO THIS MATTER.............??????.............
...really.............???????....................hey FRED.....................how much...................FRED...............hello..........?????.....
...what about the TWINS.........??????.........too cute...........
...whose opinion, FRED...........................someone's........FOR DISCUSSION PURPOSES ONLY...............................
....AMBASE = similar circumstances.............................
...the stock was dead and gone......2 dirty pennies or less p/s and almost no trading................and VOILA!........................
...bizarre STIPULATION ARRANGEMENT with the FDIC............numerous hold harmless clauses and a requirement that the AMBASE situation be entirely CLOSED - forevermore......
...just giving an example of what could happen................and the FDIC would get any and all UWB/UWBKQ recoveries - - believed to be around $125MM at this point.................................
...aimho........................
....YE2013 financials will tell the true story......................
...CEO predicts a PROFIT.........whatever that is......new concept to this management team.......................might have been a ruse to get rid of those derivative warrants on the cheap........
...22-C's plant-bio-tech-mutant-ninja-low-nicotine tobacco doesn't sell............................vapor e-cigs and quitting COLD TURKEY are better programs, imo......................
...I'm the lowest life form (easy, pinkie.......you still owe me for not at least trying hi-lites) and I simply cannot get on board owning this TULIP...........................sure, we all want to save a few of the 480,000 souls who die each year from smoking..............but 22-C doesn't build a better mouse trap......there are better uses for the 22-C MULCH.............
...very shrewd tacticians.......................................................one of our legal advisers opined that bringing the suit was the most foolish act every committed by the FDIC - - I agree - - but the FDIC is always three or four steps ahead in a "chess match"..................the timing and loans cited are so peculiar...............might just be an insurance grab...............that's M/O...................
...absolutely NO WAY would the FDIC ever risk a jury trial, imo......................the case is over and done..............other than the UWBKQ bankruptcy - - where are we on this one, btw...............???????????????................
...WE - WE believe that the entire situation is a long, long way from being CLOSED......................................4 pennies p/s or $1.80 p/s..........................share price is meaningless until the case is CLOSED, imo...................
...we didn't drop the APPEAL for $-0-...............at least I didn't.............................aimho..................
...D&O suit baffles us..............................................
...it appears as if only the Directors were bonded and the employees may not have their legal fees covered - - and were definitely not bonded.........................and the FDIC wants a jury trial..........................the loans in question were not considered HIGH RISK and all approval procedures and policy-driven underwriting steps were in place.......................
...and the D&O suit might PROVE that there definitely is no stipulation agreement - - doggone it - - oh well............the suit could be an insurance grab and might be agreed-to within the STIPULATION AGREEMENT..........................
...would the FDIC risk a jury trial on a pile of cotton balls and nothing to gain financially........other than the Director surety bonding insurance......??????...........then just sue those who have insurance...........???????............hello.....??????.....and one of the low-life defendant's attorneys can OPEN UP THE ENTIRE SEIZURE AND THE FIVE SMOKING GUNS......et-----MotherF/ing-------cetera...............how cool is that..........??????.......
...bottom line: this BAD BOY has a long, long way to go before CLOSURE....................BK or other..................aimho..............
...Dude: seriously, why not simply ride out this process........????????..............emotions aside................
...although, in jest, you're offering to take 25 grand rather than wait a few days for $430,000......................?????......
...why not wait............??????.............anatomically endowed or not.......................
...guy entered into a stipulation with the FDIC but needs the BK to be closed out as part of the agreement............I/M/O (can't forget that, larry)........................
...play out your hand......................sir..............
......SOLD.......not bought..........BIG DIFFERENCE...............
....proven bec. the price drops to a dirty penny when a limp-wrister PANICS.....................PROVEN................
...try buying a million shares for $50,000..............sorry..............not allowed..............
...the longer this case drags on...................bigger payoff.............although, we UNDERSTAND, guy took the modified HARVEY............................aimho.....................
...SEC is not allowing any significant PURCHASES of UWBKQ - - - - given the "circumstances".........................at any price....................
...the bank was taken without cause, imo..................until the entire action is CLOSED.........................trading and/or ALL related litigation remains SERIOUS - - - - at the big boy level.....
...anyone who is anatomically-challenged should play on TWITTER.........but not here...........TYIA..................
...and F/You, larry....................opinions are up larry's...............
.....okay, now richard vc simmons is giving out directives..........
...as a result, western united stock might be about to take a DIVE............
...no mood for girlie girls today...................................
...muscle up...................or get lost..........................
..........Victoria and Ysabel.......................................
...congrats!.....................to MJ and AUNT LIANA...............and also many thanks to AUNT LIANA for the $54MM, net...............................the FASCISTS settled rather than fight AUNT LI and her friend, KIRBY D. BEHRE..........
...so will the FDIC close out the BK/STIP or string this MONSTER out another few months.......???????..........either works for US - US.............lotsa risks associated with dragging........imo......
...do Vicky and Ysie have opinions yet, larry........?????........
...and lead us not into temptation................................
...where would 22nd Century be without nicotine addicts......?????....
...have we evaluated "sinning cessation" products........?????......might be another way to LOSE MONEY.......
...TULIPS 'r' us............................
...D&O suit might BLOW UP stip.....................................
...very cool..............why would the FDIC take this case back in to court......................????????????................they ain't gonna get $36MM from those rag-tag, unemployed clerks.......although the bonding company (AIG......?????)......might just write the check..................otherwise, we all might revisit the frankie/johnnie love-in, job kick-back, contempt of court matters and related DISJOINTS..................didn't some nice soul sell or short UWBKQ stock on insider information.....?????......just asking, larry...........................
...anyhoot...........this "matter" is far, far from being CLOSED.........................billable hours, anyone..............??????..........................
...btw, what time do we cocktail today.............???????.........aimho.................
.....amy would have been APPEALED - win or lose....................
...amy could only assess whether the OTS was justified enough to SEIZE the bank - - amy also COULD only rule to REVERSE the receivership.................amy's hands were tied either way.......
...a STIPULATION between the BANK and the Intervenor resulted and the BANK dropped the APPEAL.......................a condition of the STIPULATION is to close out the BK....................some complications arose in closing out the BK.....................
...nothing complicated.......................we're simply waiting to get the Trustees' signatures on the POL..........and the judge's stamp..................................then Guy's BOD will announce the distribution of the SD..............and we officially close the book on this MATTER.....................very cool.................
...opinions only, hereon................mine.............
...will be too late to get in ONCE the SEC shuts down TRADING..............
...BK POL will include a vague and passing reference to FDIC-MODIFIED HARVEY which results in undefined stipulation proceeds..............CASH..............who cares where it comes from............??????????????......................
...TIMBERLY TIRADE #3 = MONSTER-SIZED PAYOLA..........this time.....
...we're just about there............................couple of i's to dot and t's to cross..........................aimho............
.....FDIC modified HARVEY.........................................
...in larry's opinion............which doesn't count because larry doesn't exist.......................
...although, realistically, if the FDIC did agree in principle with HARVEY's original $200MM estimate..................all the FDIC did was reduce the $200MM to 'satisfying' Claimants 1-7 to the tune of about $60MM and dump $80MM on Claimant number 8............then hyena number 8 pays the HELP 32% and VOILA!: $54MM left for US.....
...and there's that $1.80 SD again...............too coincidental............correlation/causation problem............and the FDIC gets all - ALL recoveries.......smart dudes.............we'll TAKE IT, marty......
...that's my position TODAY.......................TODAY..........
...WHY DOES UWBKQ TRADE...................???????????????.........
...the underlying holding company is BIGTIME BANKRUPT...........
...a federal judge ruled that the original BANK was grossly undercapitalized and rightfully SEIZED.........................
...the FDIC has sued seven O's and D's for plundering the BANK to the tune of at least $36MM...................................
...this mofo is deader than a DOOR NAIL................splattered ROADKILL...........................rotten.....................
...all of the attorneys who represented the BANK or holding company or Debtor or FRED SCOTT refuse to acknowledge that UWBKQ or the BANK ever EVEN existed.........................