current
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.
Elizabeth Warren call for Dimon to resign from the N.Y. FED!
Now SOMEBODY is finally standing up against this american born financial terrorist!
http://www.bloomberg.com/news/2012-05-13/elizabeth-warren-calls-for-dimon-to-resign-from-new-york-fed.html
Revocation of confirmation order- Up to 180 days from order!
The Criminals are not off the hook yet. Hopefully JPM’s enemies will come out and we have up to six months (180 days) to get confirmation order revoked. I know many would say I am dreaming but back in the day many thought Watergate could have never happened. When there are billions at stake and now lifestyles and much more, anything at this point is possible!
Revocation of the Confirmation Order
Revocation of the confirmation order is an undoing or cancellation of the confirmation of a plan. A request for revocation of confirmation must be made by a party in interest within 180 days of confirmation. The court, after notice and hearing, may revoke a confirmation order "if and only if the confirmation order was procured by fraud." 11 U.S.C. § 1144
http://thismatter.com/money/credit/bankruptcy/chapter-11/discharge-postconfirmation-final-decree.htm
JPM=U.S. Government disguised by a corporate entity that is publically traded!
Unfortunaely folks, when we have a Government that controls the three branches of Government through coercion, bribery, intimidation, payoffs and other, this is (link below) where we are headed.
It is very sad when we have one corrupt Judge who was entitled to fix a case that had the potential of a 300 hundred billion dollar and more liability only to realize there was absolutely no recourse. This should prove to those who know that this country is on the verge of falling off a very high cliff into an abyss of self destruction. When these Criminals are allowed to get TOTALLY away with this travesty, it can tell you one thing, it only gets worse from here!
http://en.wikipedia.org/wiki/The_Road_to_Serfdom
fsshon, good evening and I hope you are doing well. You have got to be kidding...REALLY...there is no way in hell those documents that show all of this corruption is going to be revealed ANYTIME in the next several years. This mulitple crime-ridden scene of corruption will be treated like the Kennedy Files...not in our lifetime!
They all have a case of CRS (can't remember sh**) but I have a funny feeling they WILL BE able to remember when the time is right!
If we only knew what the audit was going to say for example NOL's will only have value when we announce our business plan to use them.
All it has to say to make the stock run is to let the audience know there IS A PLAN forthcoming that will be able to utilize at least some of the NOL's. If ONLY a few words that suggest this will propel the stock. The audit SHOULD be released literally any day now!
Question for those with experience.
There are several people on the board with experience in this type of venture that WMIH is about ready to embark on, thus the questions.
With an asset list looming, my question (s) are why would WMIH release this if they were just going to "footnote" what WMIH's assets really are? We already know about the seventy five million and other but as we all know the largest asset is the various form of tax attributes which if not attached to something more such as a business plan, they are virtually worthless.
So it would seem to me, that nothing will come out until WMIH can get it's "private letter" ruling from the IRS as there cannot be any type of business plan that has to do with the tax attributes until WMIH is able to get a commitment one way or another. To take this further, it would also seem the asset list, capital raise, entity purchase and overall business plan are so intertwined that you cannot divulge one without the other. Does this all come out at once or does it come out piecemeal?
Yeah, just imagine a million of those old common shares worth about 40 dollars a share and then another 100 dollars a share for the CRIMINALS to get their releases and oh, how I would love a FULL BLOWN JURY TRIAL, but I guess one can keep wishing!
AND just think we have this old CORRUPT WALRATH that calls herself a Judge that probably did all of this just to get invited to the next Xmas party at the White House. Now that is REALLY stupid, cause if she keeps slaving away day in and day out she must not have gotten much more than that. Actions are usully very telling!
clawman, sometime after six months post effective date of March 19th, 2012 and before the end of December 2012 we will have a business plan and a large capital raise and that you can bet heavily on IMHO.
Unless, of course, one believes that very wealthy people who regularly bet hundreds of millions into the billions of dollars in face value distressed equities, that have a once in a lifetime opportunity to take this platform of a NEWCO with no debt but has anywhere from fifteen billion to forty five billion dollars of tax attributes to NOT pay ANY taxes on for the next five to twenty years is going to let this go to waste and if anybody is one these people then this type of person should be long gone!
xoom, yes and it just put the CRIMINALS front and center again. Oh, how I wish this for our country and that is for this multi crime-ridden saga to blow wide open but I know it will not.
There is one problem with what you are thinking and you forgot to look at the right side of that screen shot to look at the outstanding share count which is 1.7 billion.
Share Statistics
Avg Vol (3 month)3: 600,073
Avg Vol (10 day)3: 255,638
Shares Outstanding5: 1.70B
Float: N/A
% Held by Insiders1: N/A
ifuwish, since you have their business plan, would you kindly share what it is so we can either buy more or sell in advance?
my pennys, answer this questions and you will have the answer on what you should do. Do you REALLY believe that very wealthy, sophisticated, educated people who have traded hundreds of millions and billions of dollars in face value will let total tax attributes that are anywhere from fifteen billion to forty five billions dollars go to waste when they NOW have a platform to avoid paying hundreds of millions and into the billons in taxes over multiple years?
Chessman, I believe it works out to be .0545 WMIH per one old DIMEQ.
Chessman, I do not have private messaging but here is a copy of the payout and this is correct.
Here's a copy of the settlement agreement for those that might not have seen it.
Upon the effective date of the Stipulation (the "Effective Date"), the LTW Holders shall receive, in the aggregate:
o An Allowed General Unsecured Claim (as such term is defined in the Seventh Amended Plan) in Class 12 in the aggregate amount of Nine Million Dollars ($9,000,000.00) (the "Allowed General Unsecured Portion"); provided, however, that the Fees and Expenses, to the extent allowed pursuant to an order of the Bankruptcy Court, upon notice and hearing, shall be paid from the initial distributions to be made to LTW Holders with respect to the Allowed General Unsecured Portion; and, provided, further, that, to the extent the Fees and Expenses are equal to or less than Three Million Two Hundred Thousand Dollars ($3,200,000.00), the Debtors and the Creditors' Committee shall not oppose any such application;
o Subject to the provisions o f decretal paragraph 3(iii) of the Stipulation, an Allowed Subordinated Claim (as such term is defined in the Seventh Amended Plan) in Class 18 in the aggregate amount of Ten
3 The following is a summary of the Stipulation, which is attached hereto and incorporated by reference as iffully set forth herein. In the event of any inconsistency between this summary and the Stipulation, the Stipulation controls.
X:\NRPORTBL\US_ACTlVE\GURDIANJ\43899029_4.DOC 10 RLFI 5756683v. 1
o
Million Dollars ($10,000,000.00) (the "Allowed Subordinated Portion"); and
8.77% of the Reorganized Common Stock (as such term is defined in the Seventh Amended Plan), distributed to holders of Common Equity Interests (the "Allowed Equity Portion," and collectively with the Allowed General Unsecured Portion and the Allowed Subordinated Portion, the "Allowed LTW Claims"); provided, however, that, in the event that the number of shares of Reorganized Common Stock distributed to holders within Classes 21 and 22 of the version of the Seventh Amended Plan existing as of the date of the Stipulation are less than the amount set forth therein, as may be diluted/reduced on account of Runoff Notes Elections, Reorganized Common Stock Elections or otherwise, each as referenced in the Seventh Amended Plan, the amount of the Allowed Subordinated Portion shall be increased by twenty cents ($0.20) for each share that the Allowed Equity Portion is so reduced up to a cap of One Million Dollars ($1,000,000.00).
http://www.kccllc.net/documents/0812229/0812229120111000000000007.pdf
Zilla, using the .68 cents that WMIH closed at today it would work out to about .0930 per old DIMEQ shares, however if WMIH does what I think it will do which is huge from here, then you know why Art settled this with WMIH stock>
From todays 8K filing...4/16/2012
BPM has been engaged to perform an audit of the balance sheet of the Company as of March 19, 2012 (the “Audited Balance Sheet”), which is the date on which the Company emerged from bankruptcy. The Company expects to file the Audited Balance Sheet as a post effective amendment to the Emergence Date Form 8-K and to resume filing periodic reports under the Securities Exchange Act of 1934 after the Emergence Date, in each case, as soon as reasonably practicable. However, the Company has only recently emerged from bankruptcy and has limited staffing and operational capacity and as a result, there can be no assurance given as to the timing of the filing of these reports.
As previously disclosed, the new board of directors has formed a Corporate Strategy & Development Committee to explore opportunities available to the Company to deploy its assets and enhance shareholder value.
WMIH 8K filed after market hours on 4/16/2012.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8200474
WMIH gets new Auditor TODAY!
Now this is what I am talking about!
http://eresearch.fidelity.com/eresearch/goto/evaluate/news/basicNewsStory.jhtml?symbols=WMIH&storyid=201204160830PR_NEWS_USPR_____NY87766&provider=PR_NEWS_&product=USPR____&hlinks=vnhl
Will a full audit of WMI happen?
I am not an accountant or tax professional. With that said, there is no wonder why Rosie was trying to zero out equity so bad and also proof he was planning on doing it from the planning stages of pre bankruptcy filing and that is they never audited or kept quarterly financials of an ongoing corporation that had money coming in and going out. Actions again here are very telling, so my point is now that WMIH is out of the bankruptcy court with an effective date of March 19th, 2012 with equity intact, it would seem the audit would have to go back and pick up where the last quarterly report was filed and my guess that is the second quarter ending of 2008 since the corporation filed a scam bankruptcy filing on or around 9/26/2008.
When the auditors put this company records back together, it will show WaMu was not only solvent but exactly where the monies went, both in and out. Now is this why Mr. Charles Smith is still acting C.E.O. to get the company past the crucial first six months post effective date of March 19th, 2012, to avoid more charges of fraud, corruption, not filing crucial 1934 ACT- S.E.C. documents, malpractice on Weasel/Gotcha/Mangle? If one GOOGLES post chapter 11 fraud, you will find out this whole travesty can be brought back into court if bankruptcy fraud if found within six months post effective date. Now of course we know the connections of a Charles Smith and not to mention the other Criminals. I find it hard to believe that an actual audit can be accomplished without going back to the last filing of the corporation in mid 2008. If they do anything short of this full audit, then WMIH might be facing very strong headwinds in the future.
Commoner, now since we are only allowed to look at this whole travesty through a lense that is constantly tampered with, your view is probably not only correct but very good reading of the so called "tea leaves" and it goes without saying NOTHING here and I mean NOTHING here has even gone remotely according to the laws or constitution our country was founded.
So, for those people who constantly want to discuss the laws, court cases, hearings and other have been proved so drastically wrong throughout this entire case (example WMIH will never trade immediately) that it is not even funny, especially those who are always trying to correct one based on the aforementioned, I believe your post will be more accurate than anybody.
8K filed today from 4/3-Liquidating Trust. I am not sure if there is a change in this 8K that was filed today at 3:30 from Fidelity
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8191683
Flo has an excellent point worthy of discussion!
Flo said the following, “Not just a forensic accountant, experience with bankruptcy cases too. And a CPA too, got help from PJS to 1000s of hours spent on asset analysis and recovery, to get a 50mm company? May be commons are getting a lion’s share thru LTI and EC agreed for 25% of the newco imho.”
If one just wants to say “more fraud/collusion” then the discussion ends before it starts. I have learned about bankruptcy cases in Delaware from other cases and their “modus operandi” is the same with the principle meaning hide, under value, zero out equity and issue new equity to certain select people in the NEWCO start. This not only enriches certain people all the way through the process, including bankruptcy sanctioned insider trading and other nefarious acts to bring the business of bankruptcy to Delaware. All people make out in this process except, of course the people who owned the company called Shareowners.
It is also hard to believe that with all of the actions the EC brought to light such as sealed documents, Nelson’s infamous thirty billion, chambers meeting that turned people white and a all of the billing by PJS, Maxwell and others that they settled for what appears to be on the surface a seventy five million dollar organization without any known future. This is what we now know and to me all of this just does not add up in total. I am not ready to support Flo’s twenty billion dollar belief, but I DO support in total there is much more here than meets the CURRENT eye.
I also do NOT subscribe to TPS, TPSC and Art ALL OF A SUDDEN deciding within two to four business days to let’s hurry now and sign as we have not other options. This belief is naïve to say the least. I will stand on this, one can almost bet anything with the players currently involved that there will be MUCH more value to come whether this is through undervalued/hidden assets, bogus claims that do not get anything or very little which has been known to certain people and/or a plan that supports a huge capital raise to bring a very tiny organization to a multibillion dollar organization within six to fifteen months from the post chapter 11 effective date! Happy Easter everybody and enjoy the day.
Small office with few people makes sense now!
This makes sense if I am correct at what is happening behind the scenes. Think about this rationally. I believe it has been decided according to the laws that the best way for WMIH to succeed is through large merger (s) or acquisitions and the only way this can happen is through a huge capital raise. To me this is the easy part, as the money will come from the Hedge Funds who have made up to three billion off WaMu from insider trading and will either leave their money on the table so to speak through the issuance of some form of preferred stock or the money will be raised through a creative/innovative type of Wall Street offering. One has to have the money raised before they can purchase any sizeable company that could make the tax attributes worthwhile.
This offering could be days to a year away but I would think they would have to have a company in mind along with the price WMIH would pay almost totally agreed upon before they do the capital raise. It does not make sense to do the capital raise first, start paying a coupon rate and then go shopping. They will size it up first and then do the raise if necessary but more than likely the money is already committed from the known players and/or their connections. This would explain why WMIH has very few people and small office and little equipment. The large company that WMIH will purchase already has a General Office and Executive Suites along with all the other perks, so investing very much money now in this type of investment would be totally wasted.
Bigbang, good post! This is probably the MOST accurate post posted anywhere discussing the overall picture of this case since the inception to present.
jhd51, you can look at this as being down but it is still overvalued according to what we know. One must be patient and wait for WMIH's news whether it be tonight or October, 2012, but news WILL come and the actual value WILL be relected when it does. One should only look at the current price as an opportunity and if you do not, maybe this stock is not for you.
Another angle for discussion?
Here we are trading without any acknowledgement from the company for almost four trading days. I look at this as a huge positive. This could be as simple as behind the scenes actions by Broker/Dealers and maybe nothing WMIH can do about it. If so and you believe in this foundation as I do, then use this as your opportunity to position yourself to ensure when the news breaks so you will not be crying over individual inactions. Nothing has changed here folks other than getting an opportunity to position you to ensure the best possible outcome. For all intensive purposes, WMIH is NOT trading yet because there is nothing that has been made public that ALL of us did NOT already know. Let me suggest for example, if the Horsies do NOT take their money off the table (3 billion profits per P. Folse) they could use it to finance WMIH.
Then it can purchase an income producing-profitable organization to start using the various tax attributes and then we will see an 8K filing that will truly value this organization. Until there is an announcement of some sort where the Horsies were paid off, then IMHO, they are going to do the financing. If you are not in at this point or have oneself positioned properly, you will miss a very large upswing. This will act just like a merger, buyout or similar. It will either be halted, announced after hours prior to a weekend or Holiday and then open revalued, thus many missing this golden opportunity. It could be any day or several months from now, but make no mistake about it, these money people WILL capitalize on this huge asset (s), so enjoy the opportunity while you can.
Now we know this is something that is very possible and we also know these money players have done this before, so the hardest part is almost done being the foundation built and put into place. The problem for most people is they do not know because of how this all came about. So for you Naysayers either do something constructive about changing your life and if you do not believe in this, then maybe buying G.E. or Starbucks is where you should be. To this point, this type of foundation that is almost set up and is almost a “cookie-cutter” style of action that will be happening very soon at a Broker near you.
Some observations for what it is worth!
I still have no doubts the CRIMINAL Empire of JPM will still have its ugly presence all over WMIH and there is probably nothing anybody at this point can or will do about it. This could actually be positive since they have all of the components of WaMu if they want WMIH to do any good. Then we have this interim Chairman named Charles Edward Smith that I believe had ties with JPM and if this is entirely true, why in the world anybody at WMIH would have allowed such a thing, unless there is more to come and they are working together or other. If Charles had previous ties or not, Rosie will have ensured there are some sort of connections to JPM whether we know or not. If Charles had ties this excuse of he knows everything is about as ridiculous as it can be, akin to a so called “reformed child molester” being in charge of a Grade School.
Let’s look at what has happened since the effective date of March 19th 2012. I agree completely with Catz and others that since WMIH became a public traded company, we will know and hear much, much less than before. We will only know after WMIH has made decisions which they will make public only after the fact and through PR’s, 8K and other filings. I thought the way trading started could have been handled much better, but keep in mind this whole multi crime ridden tragedy for the last four years has been totally blacked out worldwide so do not look for these people to bring any attention to themselves, especially for the first six months post effective date.
Actually, since the effective date it appears to me WMIH has been working quickly and more so than I would have thought. Many loose ends have been tied up, hired two key Executive positions and somebody has to be responsible for getting the stock trading as expeditiously as they did which has to reflect WMIH Executive decision; one would think since they have done nothing to halt it. So again, WMIH actions tell me that they are prioritizing and maybe there is very good reason to get that stock up and trading again such as some form of capital raise or innovative financing initiatives to get the company on fast forward and of course any of these actions will boost the value. WMIH actions so far tell me they are going very quickly and the next several weeks could be very interesting!
Expect more of same for 6+ months post effective date!
From April of 2008 when Bonderman and his group from TPG invested billions of dollars in WaMu and then were forced to exchange their preferred in to common shares through till September 25, 2008 when the CRIMINALS seized a solvent bank, nothing but total cover-up fraud, illegal activities from the highest in U.S. Government. Then of course the chapter 11 filing followed with more of nothing but illegal activities until confirmation of the plan and then this week. We then realized our NEWCO was out of chapter 11 and on its own the cover-up continues without as much as a paragraph from anybody that NEWCO stock was to begin trading.
I feel very strongly that we have a very valuable company but it will take time to sort through this mess to see if they are doing the “right” thing. I feel they are, but I too was unhappy that they could not have at least let us know when we were going to be trading. They were “dammed” either way because many complained about liquidity and when that was not a problem they complained about trading too quickly. This is trading at what we have known for two months so no surprises. I just want to say that I have discussed numerous time about six plus months post confirmation and how they have to be really worried about being drug back into court over fraud. I know, do not laugh since all this has been is one big fraud on the “entire world” so on to my point. Keep in mind this is election season and when somebody decides to enforce a law; I would not want to be on the wrong side of the fence. For the next six months, I expect more of the same.
The positive side is we could get an 8K filing any minute that revalues this properly and in total but until then why in the world would they want to bring attention to themselves with all of illegal transgressions that happened and currently happening. When we do get good news, I expect them to treat the good news as they would have bad news and that is to not report it or very little and when they do report it they will bury this good news on a Friday night or Holiday weekend . They will do this to continue to run under the radar and not bring attention to them and if I was involve with committing crimes for four years and running, I would probably hide also!. Just remember actions are very telling!
http://www.susmangodfrey.com/content/inline-images/attorneys/Documents/EHAR_-_Discovering_Fraud_Post_Confirmation.pdf
Radium, but WMIH does have five million shares of preferred that were authorized at that time but just not issued.
Radium, thank you and no worries. I have no doubts you are going to be wildly surpised in a positive way between now and the next ten months at the most as I believe you are under estimating the kind of people we are involved with!
Here is a very simplistic explanation to why we HAVE to be huge!
First of all, the people we are involved with are professionals who are connected to powerful, wealthy and intelligent people whether we want to admit it or not. These people are not little people in how they transact business. All one has to do is look at any of their history.
Now for the very simplistic explanation as to why this organization has to be huge to be successful. in order to use our largest asset whether it is now or in the future, we have to be huge, generating profits from hundreds of millions annually into billions over the next three, five, ten and twenty years. Otherwise, anywhere from fifteen to fifty billion dollars of various tax attributes will go to waste. There is only one way that can happen and one has to get huge very quickly and that my friend is through mergers.
Think of it this way, we have a wonderful once in a lifetime foundation with the opportunity to make untold money which is almost better than a money printing machine. If one does not have an organization generating the profits to make use of the very sought after platform called WMIH, then the platform is basically worthless. Now with the type of people we are involved with, do you think these people are going to waste and destroy this golden opportunity through a one time sellout or not large enough to utilize? The answer is no, they will not behead this Golden Goose through a one time kill.
Think of it this way, if you have the best race car in the Indianapolis 500, the best pit crew, the most money to support all of this; you would either expect to win or be very close I would think. You are all ready to start the race only to find out your team put a four cylinder engine under you hood. Bummer, right and guess what your chances are now and that answer would be virtually zero chance of any success.
The same applies to out platform called WMIH. If it is only capitalized with 75 million dollars, this company does not stand one chance of utilizing the tax attributes, very little chance of any success and virtually no point in going forward. This does not sound like the kind of people we are dealing with now does it? So now how does the kind of five billion dollar capital raise sound now?
They can buy a two to three billion dollar company now and be fifteen to twenty billion dollar organization in a very short period of time generating profits to fully utilize the tax attributes over time. We are the Golden Goose that will not be beheaded for a one time kill. Sit back, relax and watch as these money people turn this into a huge conglomerate in a few short years.
Clawman, I agree there is almost no way a that WMI Holdings is for sale. To kill a Golden Goose for a one time kill is not how Money People work. Not to even mention destoying most of the NOL's by doing something financially insane, they would be destroying a platform money making machine that could go on for the next ten to twenty years and not pay ANY taxes. Now why would ANY astute business person (s) do something that is that insane? IMHO, with these kind of people, that is just not going to happen.
Clawman, I agree with you from what I have also read. Also not to mention, TPS, TPSC and DIMEQ basically gave all of their claims up once they got a "peek" behind the curtain.
Do not forget they totally gave up on the Absolute Priority Rule in order to save the common shares which was a requirement to make full use of the NOL's. They did not do this because they felt sorry for Equity...LOL. It was the quickest and surest way to get their mony back and potentially a whole lot more.
CWG, I like your Hide, Hide & Disappear now how about this Hide, Hide and Reappear?
Big and others, here you go.
As of the time the Plan became effective on the Effective Date, Alan Fishman, Stephen Frank, Phillip Matthews, Michael K. Murphy, Regina T. Montoya, Margaret Osmer McQuade, William G. Reed, Jr., Orin Smith and James H. Stever resigned as directors of the Company pursuant to the Plan. At the time of their resignations, Alan Fishman, Stephen Frank, Margaret Osmer McQuade and James Stever ceased to be members of the Company’s Operations Committee, which was dissolved as of the time the Plan became effective on the Effective Date.
(b) As of the time the Plan became effective on the Effective Date, Alan Fishman, the Company’s chief executive officer, Robert Williams, the Company’s president, William Kosturos, the Company’s chief restructuring officer and John Maciel, the Company’s chief financial officer, each resigned from any and all positions they held with the Company.
(c) On the Effective Date, the Company appointed Charles Edward Smith as the Company’s Interim Chief Executive Officer. In addition, Mr. Smith currently holds the titles of President, Interim Chief Legal Officer, Secretary and Executive Vice President. On the Effective Date, Mr. Smith, age 42, also became an employee and officer of WMI Liquidating Trust (described above). Prior to the Effective Date and since November 2008, Mr. Smith served as an officer of the company, and since February 2009, as the general counsel, executive vice president and secretary of the Company. From November 2002 to September 2008, Mr. Smith was employed by WMB, a savings and loan association that was a wholly-owned subsidiary of the Company until March 16, 2012, serving as assistant general counsel and team lead-corporate finance for part of that time. In September 2008, following the Office of Thrift Supervision’s closure of WMB, the receivership of WMB by the Federal Deposit Insurance Company, and the eventual sale of substantially all of the assets of WMB to JPMorgan Chase Bank, N.A. (“JPMC”), a banking and financial services company, Mr. Smith became an employee of JPMC from September 2008 to November 2008. Pursuant to the currently contemplated terms of the Transition Services Agreement, as disclosed in Item 1.01 of this Current Report on Form 8-K, the Company will reimburse WMI Liquidating Trust for a portion of Mr. Smith’s compensation from WMI Liquidating Trust in return for up to 40 hours per month of Mr. Smith’s services as an executive with the Company.
(d) As of the effective time of the Plan on the Effective Date, Eugene Davis, Timothy R. Graham, Diane B. Glossman, Mark Holliday, Michael Renoff, Steven D. Scheiwe and Michael Willingham became directors of the Company pursuant to the terms of the Plan (the “New Board of Directors”). On the Effective Date, the New Board of Directors elected Mr. Willingham as Chairman of the New Board of Directors. Also on the Effective Date, the New Board of Directors established an audit committee comprised of Mark Holliday, Steven D. Scheiwe and Michael Willingham, a compensation committee comprised of Eugene Davis, Steven D. Scheiwe and Timothy R. Graham, and a corporate strategy and development committee comprised of Diane Glossman, Eugene Davis, Timothy R. Graham and Michael Renoff. Pursuant to the Plan, the lenders party to the Financing Agreement selected Mr. Davis to the New
Big, it is in this 8K. Just scan the 8K and you will find it.
As much as I hate to say WMI Holdings is already in serious trouble due to having this corrupt Executive called Charles (Chad) Smith be WMIH's interim C.E.O. as fe failed to audit one item during three and half years in chapter 11 and of malpractice to the tune of multibillions against Weasel/Gotcha/Mangle!
WMI Holdings 8K for March 14th. This should contain some very interesting information! After seeing year 2011...read on!
http://www.secinfo.com/dRx61.p3y.htm#1stPage
Wow, totally unbelievable that this corruption could go on three and half years with no auditor. Do not be surpised before we get to a date that is six months post effective date that there are more charges brought about corruption and more. Read this from the 8K.
?The Division of Corporation Finance's Staff Legal Bulletin No.2 also requires the Company to file an audited balance sheet on the Effective Date; however, it is not practicable for the Company to file an audited balance sheet at this time due to the Company’s limited resources and the fact that the Company has not had an auditor during the pendency of the chapter 11 proceedings. As soon as reasonably practicable after the date hereof, the Company intends to file an amendment to this Current Report on Form 8-K that will contain the Company’s audited balance sheet as of the Effective Date.
rockie, nobody ever said it was easy becoming very wealthy. I think the best way is the old fashioned way and that is to inherit wealth but one has to have the source (s) in order for this to work...LOL
rocki, why would I do that when I had the forsight to buy all I need along along with several people for a pitance of what you are trying to sell?