Linda is biotch...! LOLz JayKay
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.
Example: If you hold Wamuq pre seizure, you have a loss of $100,000 (throwing out a number), you are entitled to use $100,000 as a deductible for future income. This is a carry forward.
FDIC striping the assets = loss on WMI's income taxes. WMI's value on WMB stocks are a total loss.
TPG did this with their loss on WMI stocks as a write down. In the event WMI stock recovers, TPG write up the assets. (There was a article of some sort).
This is all tax stuff that someone on here is a CPA can tell you more or expand on the technical aspects.
BK GM was stripped of its assets by Obama/BK creditors/Unions. Assets transferred from old GM to NEW GM to benefit creditors that were impaired in OLD GM.
The point is carry forwards are an asset that can be utilized.
I do agree with you about the figure that others are coming up with the multiplier, ie, 2 x value, whatever...
imo
Steve,
This is were they are similar, I know, because I own GM senior notes.
GM is under BK, but the carry forwards are not included with the original GM. A new entity was formed and the carry forwards were transferred from the operating GM to the NEW(ly formed) GM with no business until the assets and operations from the OLD were transfered to the NEW GM.
This is were GM and WMI is similar:
WMI transfers it carry forwards to Washington Mutual Investments, Wamu Re-insurance, or whatever name they come up with (or use an exsisting shell).
GM and WMI are doing essentially the same thing, transfering the carry forwards for future utilization to off set future taxes for the benefit of the new entity.
Thanks for pointing that out Dudebug. At least we know that they are income producing dividend securities.
imo
Steve 45 (briefly since I am at work right now),
Read the following posts:
Actually I have already sold a while ago, BUT I do hold the original GM mini senior notes which I am going to keep since the GM IPO is oversubscribed by at least 5 times and the majority of the new GM holders will be institutional holders.
I was mainly interested in the first set of warrants.
Once the stock is available for me to sell, I will sell, anticipating there will be a dip since people in the same situation as me (holding the mini senior notes) will take advantage to cash out.
Then, I may buy back on the dip and hold (just depends on how the the market is at that time - i can't tell the future).
I am not a fan of American cars, however, I think that there are enough "pro-Americans" holders to make GM's PPS stable and appreciate in the long run.
imo
It is "rose colored" filter on the computer monitor! Ha ha eom
Nice, multiple times oversubscribed...
Did I say this:
Affirmative, eom.
No problem, we are all here make some $$. eom
I am not sure we are following each other. I know that Wells did put in a claim for $50, plus xxx, BUT Wells did amend their claim to a lower amount based on today's value and included the original discount issue BECAUSE WMI Objected to it, not because the Judge corrected the amount of $50 down to $3X.xx.
So, the allowed claim is $3X.xx something.
So based on the notice of Wells, it was 74% of the allowed claim of $3X.xx, NOT the $50 amount.
I think we are loosing each other on the definition of "Allowed claim".
imo
Dubebug, completely agree with you with everything you say. There is something that Rosen is prolonging and none of us can figure it out.
My minds keeps telling me that he wants to continue to bill the estate, but I can't figure out what else he is trying to do.
imo
No, I did not take into account DIMEQ. My point was there are assets (undisclosed) available to pay, even under the current POR that basically gives everything away.
imo
Right, that is what I said:
Agreed. Rosen has something up his sleeves. eom
Last I recall from memory, HUQ is impaired because even after the original issue discount, they are still a portion out of the money, ie, not paid in full of allowed claim amount.
imo
Sorry, I dont know what to tell you, but I agree, this whole thing is rigged, plus Rosen set it up this way and we have a holiday on Nov. 11. Therefore, no postal delivery that day. eom
According to the Examiner, preferreds are 500 mil out of the money. Our DD here says that the Examiner alotted too much money to bond/note holders (?) in his calculations by about $400 mill.
Based on the above, we believe the Examiner should have said preferreds are out of the money by $100 mill instead of $500 mil.
We also believe that Rosen will try to buy the preffereds vote, ie throw a bone.
Commons are toast based on the current POR and not taking into account a completing POR. I am sure a competing POR will be more equity friendly.
imo
Sorry, I dont know what to tell you. eom
Ptomo, you canNOT send your ballot directly to krutzman. You are not the owner of the shares, your broker is. That is why you MUST vote through your broker and your broker will send their master ballot.to.Krutzman.
If you send it directly to Krutzman, YOUR VOTE WILL NOT BE VALID and disqualified.
Imo
Wamu Preferred is 500 mil out of the money as stated by Examiner (BUT our DD says we are in the money based on current POR). Throw in competing POR, we are easily in the money.
LEH CT is toooo far out of the money (by billions, if not - or almost 100 bil and is subordinate) and future of LEH is too unknown as far as recovery and time. LEH CT = True Lotto play (think odds of winning the lotto), don't invest what you do not mind losing. Stay diversified, do not go all in as with any security.
imo
REITs, Caymans, etc. eom
I was commenting on this:
The "Gift". See below:
The below is in regards to carry-forwards which is an asset of the Estate and is in FAVOR of us (WMI) for up to 20 years of shielding from taxes. This "bolsters" the (reorganized) company's balance sheet. NOT TO BE CONFUSED WITH NOL TAX REFUNDS, which is a separate asset.
Just replace the word "GM" with "WMI".
imo
You are correct, I was only speaking in terms of the current POR. imo/eom
Use speech-to-text feature. I have the Droid 2. Make sure to turn off the offensive language feature. It works great so long as you don't have an accent.
Factor interest for 2 years (and continuing to earn interest daily) on $4 billion deposit WMI has with Chase Bank and the interest on $5.6 billion tax refund being held in escrow, that would put preferrds in the money.
Interest on $4 billion for 2 years at the rate of 4% (guessing on rate) is $320,000,000 and continuing to incur interest daily (but must off set the interest the bond holders are earning).
Add in interest on the $5.6 Bill tax refunds? (When does interest start?)
Factor in Tax loss carry forwards... See link: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=56245069
Preferreds in the money...
imo
Susman and EC asked you to vote and reject.the plan. If susman wanted everyone to NOT vote, then he would have said so.
The fact that susman and EC when through the trouble.to have the EC letter approved to be placed in wih the voting package, means it is important to.do.what susman requested, vote "no" and reject the plan.
Imo
P and K can vote. Q is automatically vote no. eom
Only if you owned P or K. eom
You need to contact your broker.
If you have etrade, you can vote verbally. Call etrade and ask for corporate actions dept.
You must vote no and reject the Plan. By not voting, you indirectly voted yes to the Plan.
The more people who do NOT vote, the more indirect yes votes will be counted and the Plan will likely be confirmed.
imo
No, you are not entitled to vote. Only ones entitled to vote are those who bought on 10-12-10, who are on the record date of 10/18/10.
Everyone else, I spoke to Etrade., they said they barley sent out the ballot, etc. because when they tried to send it through email, the file was tooooo big.
You call Etrade (800-387-2331) and place your vote verbally through "corporate actions dept/team". BTW, no fee for voting, unlike $hit trade.
imo