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Asigned value is based on the PJS and other's number. Assigned value is pretty closed to the market value. As long as market value is over $7.5B, all preferrds are OK. The balance determines the value of commons. Under these cirustances, there is no agruments between who should get what and no issue for conversion value anymore.
It's fair. Commons is $0.12 and P is $31.00. If IPO has X% increase, then commons are in benefits otherwise preferrds are OK at paper FV without dividends for a while.
It's one of the way but will hurt WMI2's value or IPO. Rather keep them all as preferrable stocks at "Capital" side.
Lxu had legitimate questions. But, i think we are ok with estimated market value of NOLs and residual values of WMI. We should be balanced off at the present.
there is estimated market price for NOLs + hidden assets of residual value of WMI could be added to "assets" side of balance sheets. Hoping it's balanced.
Commons could have a reverse split in IPO. Of course, above are the worst situation
If JPIG could pony up somethings, it is a whole new story. Every class are up.
100% agreed. Hoping and praying that is the way all parties involved are seeing. Also, this way solves the conversion prob.
I mean that WMI2 could refloat the TPS/P/K without paying dividends in the beginnig. WMI2 could resume the payment later when WMI2 becomes profitable. Legally, WMI2 could do it.
Of course, the best scenario is that WMI2 pays dividends at new% rate immediately. Howver, facing the reality, there is no way that WMI2 could pay the dividends initially based on limited resource.
Under these circumstances, both commons and preferrds are the same boat until something happens. That is fair and no agruments who is better than whom
The WMI2 could hold the dividends for maximum 20 consecutive periods since the re-floated preferreds were non-cumulatvie.
In other words, let the market to decide the value of new preferrds either with paid dividends (assuming WMI2 doing great) or without pay.
ALL COMMONS ARE OFF HOOK.
I think that Nate bought H at $3.00ish as HFs. That is the reason that he knew there had a IT. The compensation of H is $$34.00 which means 10 times of his investment.
You're right in terms of "NOW". Appreciating your comments, and definitely we will not reject if anything comes out super.
I fully agreed to what Linda says. I am bidding GTC at very low price in order to accumulate more shares to average out my previous costs. I have not sold one yet. The reason that I could do so is because I have 90 free trades a month. I could accumulate hudreds to a thousand a day or none a day. When someone gets impatient to sell it, I'll pick it up. Basically, I don't call myself a MM.
First, if JPM doesn't kick real cash in and no investors for NOLs, we wouldn't see A>L. Then, preferrds will compete with commons in WMI2 for the residual values.
However, EC dropped depos and appeal "fair and reasonable" in appellate courts, it could mean JPM kicks $$ (small or big fish) to exchange release. The most convenient way that JPM can do is to give up the tax refund and take care TPS at its side. I think then preferrds will get upto 80% FV, and commons' value will be determined by market price upon IPO.
I fully agree with you, let EC separate common and preferrds. That is a clean cut. We never see any problems related to conversion from one to the others.
Appreciate your comments, TIA.
sent you an email message
don't worry, just back again @0.16 from 0.152
excellent, I don't remember there had halt during 3/12/10 and examiner's reports.
IMHO. Without any new investors at sight, WMI2 needs a decent situation for attracting new comers. Conveting preferrds to commons, it will make WMI2 less attractive.
I always feel that the preferrds are going to be converted/transferred into WMI2's preferrds at the same FV. Therefore, EC could avoid any argument in terms of converting rate against commons. As long as WMI2 doesn't pay dividends for maximum 20 periods, it will not hurt WMI2 since WMI2 lacks capital to work on.
Let the market to decided new preferrds' value while WMI2 resumes dividends (= get new investors....etc).
Appreciate your comments. TIA
Probably, make a test and make sure his/her stock is not blocked.
Sorry it's my bad. I should say "commons get additional tickets of LTW.
Because of the clown JMW's "fair and reasonable". Giving up that $4B, which is our money. Requst Clown JMW's SJ immediately. We knew the answer is negative, then, go after JPIG in DC courts.
Remember, JPIG will not be easy to give in. We have to kick its ass hard enough. All commons in WMI2 getting LTW, preferrds is hanging there w/o dividends. WMI2 CAN.....be survival for long time. We will win the final wars and justice.
GO WMI2, GO EC......................
It's much easy to payout preferrds at FV = $3.5B. Or, WMI2 re-issue new Ps and Ks at the same terms and conditions w/o dividends and LTW for unpaid dividends.
Since EC is the majority of WMI2, the creditors will get 1 billion shares or for total 2.7B shares with LTW. IMHO
If JPM wants to get releases for itself and FDIC, PJS's valuation (Nelson's $30B)is there plus others, such as NOLs, tax refunds, etc. BDO and PJS are there for our protections.
Well Fargo paid $15B for Wacovia. Hm......, $8-10/share is not greedy.
Yes or No.
Most people use WAMPQ as hedging purpose because UQ (someone guess) could go $8.00/share and upto to $24/share. Then, the ROI is 80-240 times vs 30 times of PQ. Personally, I will be very satisfied with $8/share. IMHO
Linda, good pick, and good luck.
GO LAMCO, GO WAMU
Remember. JPig was $48.36 back in February 2011. Either way works for me.
You're absolutely right.
Or, 1:4 on JPig's stocks. OK with you?
Excellent thought. It possibly takes too long. LAMCO is till in trouble with creditors and A<L.
The quick way is to have JPM do it. JPig will gain something additionally (i.e. our releases) comparing to others. But, got to be good to make your smile.
TPG pays its dues.
Sorry, I don't know that part. I only knew that TPG should pay us back for whatever bonderman got before BK. Hm.............. He has money now.
TPG, who just got new partner -- China Development Bank ???
It's 10% cumulative convertible stocks series "F".
Not on the valuation. They are on FV
Surely, 30% is your/ours minimum goals. The more the better../
I hear you. I think WM is in a position to go after JPM because Susman is willing to take 20% contigent fee in DC courts. Also, Susman has investigated a lot in this case. Let it goes away, Hmmmm, such a waste. Moreover, Susman is on the BK case against bunch of banks in CDs, and credit lines problems.
Excellent points, Yes, adding more JPM's money to exchange releases for both criminals -- JPM and FDIC.
Buy your drinks in Vegas
Questions, if NEW debtors (i.e. new BOD) doesn't take $4B (our money) from JPM as BR did. should we have to give JPM+FDIC any release?
Also, I don't understand why we need JPM and FDIC's approval in order to emerge out of BK? Actually, they have nothing to do with WMI2, isn't it? They are outsider of WMI2.
Appreciate your comments, TIA
No depos is to block the blood trace from other authorities, such DOJ. Susman definitely has something to force HFs into negotiations.
The big money is to sue JPM in DC courts. Who cares about $4B as a settlement between EC (not BR) and JPM. JMW is a crown to say "fair and reasonable".
As you said, 1 million shares in exchanged of 2.60/share for settlement. If you were MW, would you like to spend this kind of efforts to get few bucks?
1500 share of Ps remains intact. MW will re-issue new preferreds with same terms and conditions in WMI2. Just be patient about dividents. Once new investors jump in for NOLs and preferred holders get dividents, the market value is FV.
NO RELEASE TO JPM AND FDIC AT ALL. Returning our own money($4B in deposit) is a joke. JMW is out of her mind and said "it is fair and reasonable". Most likely she is bought out by those criminals.
Go to DC court, Susman will take contigent fee as he is doing with Thornburg Mortgage's BK case.
MW will not be stupid to take only $4B for this kind of settlement w/JPM and FDIC, or average of $2.60/share for commons.
Remember, all other residual assets, NOLs, tax are our money for granted.
NO JMP'S OWN MONEY = NO RELEASE = ADDITIONAL VALUE OF LTW FOR COMMONS.
ALL PREFERRED'S STATUS ARE INTACT = SAME FV + DIVIDENTS
Plus LTW
Not piss off preferred holders, MW will re-issue P and K in the same terms and condition in WMI2. MW could hold dividents for maximum 20 consecutive periods. Let the market to decide its value upon the any new visitors for NOLs and dividents resumed.
Don't trust BR's word, he is the biggest liar in the world. He just want to confuse market to credit sell off preferreds, and create a better position for JPM. I still believe JPM is the best candidate for WMI2.
If i were MW, I could understand from where your worry comes. He will use litigation money as his own bank. In this case, he definitely looks ugly.
I'm thinking a large picture. If I were MW, what would I do different asto BR (the big liar)?
1) Go after JPM and FDIC for more than 20B
Spending all the time and efforts, and only get severl bucks return. It doesn't make any sense for MW.
2) No release to JPM and FDIC as BR did.
Give up $4B(our money). We knew JMW is favorable to JPM. But, MW will not accept to use our money in exchange of their release. MW will ask for SJ immediately from JMW. Most likely, JMW will deny it. Then, who cares?
3) Without $4B, WMI2 immediately gets into cash problems for fighting with JPM shortly.
Susman will take 20% contingent fee as he is doing in Thornburg Mortgage's BK case. No extra efforts for Susman does it for WMI2 since he is using/doing the similar information/technics with TM's case.
4) Without money, MW could not pay FV to Preferd stocks.
All K and P will resume its status in WMI2. The same FV and terms. MW still can hold dividents for maximum 20 consecutive periods without payment. He would do so, not piss off all pref. stock holders (= coverting to commons and 10-20% of FV). Let the market deciding its value after any investors to buy NOLs, and resuem dividents.....Why piss off holders at this moments?
5)BR is a liar, don't trust his words that preferrd is coverted to commons. He wants everyone to sell it, or confusing the markets.
However, "H" is in a different case. H will be coverted into pref and common stocks in order to save payment of 74% FV, and HFs need commons to be minor partners = to take the residual value of WMI (= all hidden assets).
My point is that Pref stocks will not coverted into commons. It will remain its previous position in WMI2 but without dividents for a while.
6)All commons will have LTW.
It's IMHO. Thanks. See you in Vegas.
If I were MW, I would not accept of returning my own money (4B in deposit) to exchange JPM and FDIC's release as BR did.
I knew JMW is favorable to JPM, I rather give up 4B(= no release), and sue JPM for at least more than 20B in DC court. No GSA.
If you were MW, what would you do? Spend all efforts for only $1.26/share as HRoller said?