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So is the 2Q report next week going to show massive hemoraging due to drop in oil price or that PNNT's debt instruments absorbed the blow?
Better question would be which tech is better positioned for growth in the coming quarter / year? I am leaning towards NFLX.
Volume picking up.
Whats the best long term play in tech?
Yeah, god help us if appointee positions start getting staffed based on merit, demostrable experience and qualifications instead of ideology and dedication to the cause. We're really going to be in trouble then!
Ackman speaks of limited downside compared to substantial upside (paraphrased). I was hoping that some here could help me understand the thought process behid the limited downside statement?
Is Ackman's position that with or without receiving profits back from the treasury, money that government is currently using as a slush fund, that FNMA / FMCC will both still graduate from conservatorship and be allowed to recapitalize?
Maybe we can ask Sheila Bair. On Twitter...
https://twitter.com/SheilaBair2013
Everbody that I know who had an Iphone 5 upgraded. Take it for what it's worth.
Um I don't think the term 'haircut' means what you think it means.
Looking forward to Vodwiz app being offered on the Samsung app catalogue for smart tv and phone/tablet.
My response:
You can start with JPM's 'Project West'. The AT&T claim in Washington Mutual's bankruptcy case is a good place to start.
Does anyone have any information on Susman Godfrey pertaining to past settlement amounts the firm was able to successfully litigate? Specifically, I would like to get a gauge on the minimum, maximum, mean and median award values the firm was able to litigate to determine if the $200 million suit is consistent with cases the firm normally takes on. If $200 million is below the amount the firm normally takes on then it would indicate an anomaly that could be the result of Susman having his eye on a bigger prize than the measly $200 million.
Maybe this case is a ploy, needed in order to get a deeper look into the books and establish proof of all the nefarious obfuscation that occurred during the take-down and bankruptcy proceedings by getting that evidence on public record???
Is anyone else thinking that an overall downtrend or market correction would present an opportunity for KKR and WMIH considering potential M&A candidates seem to be overpriced at the moment?
Yes but the $32.00 wasn't my call. I was simply giving the breakdown of how a theoretical $300,000,000 distribution to equity would break down per escrow. Formula was pulled from the WAMU calculator.
I'll start to worry when Eric and co start putting shares on the market to fund exorbitant salaries while offloading shares. So far, I see only the opposite of such a scenario with Eric and co taking deferred salaries and personally holding a large amount of shares.
Question to hardasset:
Which of the following conditions to the figure I presented are incorrect?
- Class 19 would receive 75% of a distribution to escrow
- WAMPQ / 939ESC992 CUSIPs would receive 40.99% of that 75% pool
- There were originally 3,000,000 WAMP shares outstanding at time of bankruptcy and of those, 2,906,421 WAMPQs were released.
What a theoretical $300,000,000 would equate to for escrows. So yeah about $10.00 per P for every $100 mil.
Wynning!
I think $300,000,000 works out to $32.00 for P, $.79 for K and $.07 for common.
The answer to that question is leverage.
The remaining question would be: Did Susman have the leverage needed when they all went into that private meeting to work out the POR?
Triple fav Daisy's post and boxing analogy.
You would be surprised at the level of ineptitude that resides in the government ranks. I had to respond to a file server outage where the techs had configured the attached storage array on RAID 0 with no fault tolerance. Fast read/write speeds right up until a single drive brought the whole volume down. Why do you think there is such a booming contractor support market with the government? The techies with any sort of ability get out of the government ranks and gravitate towards contracting. Long story short, you can have all of the storage arrays and server space in the world but if you haven't developed and implemented your disaster recovery plan properly, your screwed. In some cases, the misconfig and poor implementation could be intentional.
Good. Eric and Fred have been trying to run all aspects of this business for a long time and it's stretched them thin. Now that some of the various revenue streams that they have been working so hard at over the past few years are put in place, they are able to grow their staff and ease their workload a bit to focus on executive tasks.
Does anyone know what the escrow markings are for the various classes of common and preferred shares are?
I've got 524ESC100, 524ESC639 and 525ESCB16 but no other information is given in the description.
Thanks in advance.
Apparently, JPM investment bank does not share your sentiments concerning the CTs.
I propose a campaign of carefully worded FOIA requests to put pressure on the FDIC to come clean on details pertaining to the current value of assets in receivership. It's time to sanitize this mess with some sunlight.
Looking for posts concerning the recent ruling against JPM that prove that the were not in receivership of WAMU mortgages. I have a contact that is having their old WAMU mortgage being forclosed on by JPM. Wondering why this wasn't stickied.
Thanks in advance for any assistance.
Academics who break out of academia often spend their real world careers trying to prove some sort of thesis that their academic career revolved around. Krugman is a curious specimen, spending his real world career trying to prove someone else's unproven academic theory whilst using his academic credentials to pontificate on a broad range of subjects for which he has strong ideological views on but not necessarily a great deal of expertise. Krugman would be a comical little character if it weren't for his promulgated theories being so dangerous and destabilizing.
If these assets that are to be released from FDIC receivership are illiquid, how would they be dispersed to escrow holders? Wouldn't a new business entity need to be established to manage the assets and then shares of such a newly established entity be dispersed to escrow holders, or would the business entity fall under WMIH ownership?
Voodoo, If LG is right, you are in store for a 30 - 60m or more payday. I think I had about a quarter of what your holdings were. Forget Vegas; I want to join your celebration party.
So those focused on only the bonafide verifiable realities of the bankruptcy proceedings as defined by language in the POR and overall outcome thus far, would you say that reading between the lines on certain actions, such as the fact that Susman personally made an appearance to a closed door mediation session only to bill $8,100 constitutes an act of futility? Furthermore, would looking at Susman's past performance, mediation style and outcomes of cases he has taken on in the past also constitute an act of futility? There is too much information to be read between the lines not to ignore in my opinion.
Vodwiz to fill huge market void.
Just as I expected. That's Susman's style. Now lets look at Susman's billing. They have billed next to nothing so far. How will Susman Group be compensated in the event of a large settlement?
Question:
Did Susman ever personally make an appearance at any point during litigation or was it an associate or associates involved with mediation on behalf of the firm?
Even if the liquidating trust ISN'T able to secure a disbursement for CT holders, the shell company that COULD emerge post bankruptcy will have something like 60B in network operating loss (NOL) tax credits moving forward. Through mergers and acquisitions, they can utilize these NOLs to offset any future tax liability for years and years to come. Something similar happened with WAMU's bankruptcy and shareholders (myself included) were issued shares of the new company emerging from bankruptcy (WMIH) which ended up with about 6 billion in NOL carry forwards from the old WAMU bank entity. Blackstone provided some advisory services in the deal and KKR infused some money in return for part ownership and is now actively trying to find suitable M&A opportunities to pair us up with in order to allow us to grow and produce revenue in order to utilize the massive NOL credits we have, already causing the share price to run to over $3.75 just on speculation since we have very limited earnings as a reinsurance business operating in runoff mode. Once an M&A partner is announced for WMIH, share price will probably jump to over $5 just on the news and grow beyond that depending on how successful the merger is. If done right, the company could be exempt from 6B in future tax liabilities clear into 2020. This doesn't include any settlement that may come post WAMU bankruptcy due to HF insider trading, illegal acts on behalf of JPM or the FDIC or countless other instances of fraud and deception revolving around the case. The Lehman CTs holders could potentially end up owning part of a shell company with TEN times the NOLs that WMIH ended up with!!! The risk vs. reward ratio on Lehman CTs is too great to pass up and you don't need to bet the farm to take a position. You have a chance to make money on liquidation dismemberment (less likely) but IMHO that is not where the true value lies. The true value would be owning a part of the shell company emerging from bankruptcy with 50B in NOL carry forwards and watching it grow through M&As over the next 15 - 20 years. Risk involves corruption in the bankruptcy proceedings and the IRS changing it's NOL laws which both could very well occur. Even if the IRS does changes it's NOL carry forwar laws, I don't see them totally doing away with NOLs, but rather limiting or capping the amount that can be carried forward.
Theatrical release on the horizon.
MtGox bankruptcy update: Order Recognizing Foreign Main Proceeding and Granting Related Relief by U.S. Bankruptcy Court
http://www.mtgox.com/img/pdf/20140618_order.pdf
Anyone know the process for ensuring that as a private MtGox account holder, one can get recognized as a 'debtor' in the bankruptcy proceedings so as to ensure a distribution if / when liquidation occurs?
Boom!
"The improvements in cash flow will provide a funding mechanism to retire debt, which will reduce or eliminate the company’s need for equity conversions when dealing with trade payables,"
Hard at work doing everything they can to minimize dilution and ensure future PPS value.
HHSE positioning itself for growth!