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Common Stock 205,213,037 shares as of year end before conversion on page 32.
Weighted average number of common shares:
Basic 205,213,037 22,681,031
Fully diluted 205,213,037 629,687,199
The accompanying notes are an integral part of these consolidated financial statements.
32
That is completely incorrect. The 10-K states that there were 205,213,037MM shares outstanding as of the year end. There are only 985MM shares if all of the preferred debt is converted to common stock.
If you read the footnote that includes debt conversion.
10-K shows only 205MM shares as of year end (page 32) on a fully diluted basis. This seems awfully low. IMHO.
JPM posts big increase in earnings based on WaMu Bankrupcty Settlement.
The analyst for Sandler-Oneil just stated that JPM earnings are way up based on WaMu bankruptcy settlement. I guess it looks like JPM is finally going to recognize the billions in assets they stole from WaMu that the judge handed over. In addition, they reduced their litigation reserve by another $2.5B since that walked away free of charge.
My E*Trade shares are still listed as CUSIP as well. I was told the shares would be put in place today as well.
Meet NEOM's new Billionaire Chinese Owner
Here is the profile from Forbes profile of one of the richest men in the world and NEOM's new owner.
Billionaire Patrick Soon-Shiong On Health Care, Obama
Kym McNicholas, 08.25.09, 06:00 AM EDT
Soon-Shiong earned his billions from developing drugs to combat cancer; he talks about how to eliminate health care fraud.
Patrick Soon-Shiong, a self-made billionaire through injectable and breakthrough nanoparticle anticancer technology drug development, is now focusing his philanthropic efforts on creating a national highway for health care. He is donating $1 billion of the $3 billion he netted from the $5.6 billion sale of APP Pharmaceuticals to create the Bell Labs of Health Care. His goal is to build a smart grid for health care, which aims to not only provide greater transparency for doctors and patients to better identify ailments and treatments, but to also eliminate fraud and abuse in today's health care system.
Patrick Soon-Shiong: The idea is to create a health grid that empowers the patient and the provider. This should be a public utility, basically what I call a U.S. public health grid. If you look at swine flu, for example--we just presented this at the Institute of Medicine. If you look at swine flu, the world came together very quickly, where we actually were able to share, very quickly, the genomic DNA and actually identify how to actually address this, in a global sense. We need to treat chronic disease as an epidemic like the swine flu. But the only way you can do that, whether it's diabetes, whether it's heart disease and whether it's cancer, is to have what you call a grid, a public utility that you can actually share information on a national scale.
Thanks. Please post the link when you have a moment.
Does anyone have a link to the CEO interview?
Link to redacted settlement agreement?
Etrade Quote flashed $103.82 pre-market and then $42.84. What's up?
Nice. 6,300P's at $11.02/share. That ain't retail!!
Huge waste of time! Laura and CFO didn't provide any real news, updates for 4th Qtr financials. The only thing I got out of that conference call is that Laura like the weather in Boulder, CO.
Where did you get the quote from Michael Willingham? Link please.
FDIC announces settlement with Kerry Killinger. I find this to be very timely.
Kerry Killinger, Other WaMu Execs, Reach Settlement in Likely Final Government Case
http://blogs.seattleweekly.com/dailyweek...
The government's pursuit of Kerry Killinger is apparently over except for the official champagne uncorking - by Killinger. The feds have already ended a fruitless criminal probe of the man behind America's biggest bank failure. Now a Seattle federal judge says a settlement is pending in the government's civil, and likely final, action against the former Washington Mutual CEO.
Killinger and other execs have also settled several stockholder lawsuits as well, but the $250 million in damages was paid by the execs' insurance companies, as may be the case in the U.S. settlement.
According to U.S. District Court records, Judge Marsha Pechman reports she has been notified of a pending settlement by the Federal Deposit Insurance Corporation with Killinger and his WaMu co-defendants Stephen Rotella and David Schneider.
Pechman has now terminated all pending motions and deadlines in the case and awaits word of the final agreement. No terms have been released and Killinger's attorney Barry Kaplan yesterday said "We have no comment at this time."
In a lawsuit filed in March, the FDIC sought $900 million in damages from Killinger and the others, contending they were, at the least, negligent in their failed operation of WaMu.
The settlement follows an October agreement by Killinger and others to pay $41.5 million to end a seven-year-old class-action case brought by stockholders - with the executives' insurance company paying the tab.
Stockholders claimed the executives misrepresented--and failed to disclose material facts--regarding the profitability of WaMu's mortgage-lending business, leading to "artificially inflated" stock prices.
Earlier this year, another group of stockholders agreed to accept a $208.5 million settlement, about half of it debited to Killinger and the execs but, again, actually paid for by insurers.
Killinger and the others of course paid no price as a result the criminal investigation by the Justice Department. U. S. Attorney Jenny Durken said that, despite a lengthy and costly investigation, the feds could find no wrongdoing in the massive 2008 WaMu failure.
That year, Killinger took home $25.1 million in compensation, including a $15.3 million golden parachute, before he was fired. Over the previous five years, as the bank began its slide to oblivion, he earned $103 million in cash, stock, and options.
As CBS's 60 Minutes reported Sunday, the Justice Dept. is so far giving a lot of lip service to bank investigations while failing to prosecute execs from big mortgage lenders such as WaMu and Countrywide Financial.
MOR - states $500MM in additional refunds antcipated.
As of November 30, 2011, refunds totaling approximately $5.3 billion of the estimated $5.5 - $5.8 billion in total refunds have been paid into a segregated escrow account that was established with Wells Fargo Bank, National Association, as escrow agent (the “Escrow Agent”). The refunds, together with any interest and income relating thereto, shall remain in the escrow account until (a)(i) the effective date of the Amended Settlement Agreement, and (ii) the receipt by the Escrow Agent of a joint written notice from an authorized officer of each of WMI, JPMorgan and the FDIC Receiver, (b) the mutual agreement of WMI, JPMorgan and the FDIC, which agreement is approved by an order of the Bankruptcy Court, or (c) entry of a final order by a court of competent jurisdiction that determines the ownership of the refunds between WMI, JPMorgan and the FDIC.
MM's dropped their bids by several dollars, but nobody is going for it.
Volume for this stock is off the charts! A few more days at this run rate and someone else will have bought the company outright. IMHO.
TPS is right! THJMW is wrong! I believe that TPS will success in their appeal and this is a game changer. Their is $9B in assets that will come back to the estate with the TPS securities. This will make preferreds whole. IMHO.
Chiron is wrong again! The SNH's don't need enough to pay off all of the equity shareholders. Just enough to put us well into the money. This will put the EC in charge of the estate and WGM is done. Then we sue the FDIC and JPM in Wash DC. The FDIC is already on the hook for $10B related to Deustche Bank. They are totally scr@wed at this point. Sheila better hope they don't take back her pension at this point.
Catz - Did the judge just deny plan?
I am willing to buy your measly 100 shares. If you will get lost permanently.
VODO - The IT issue will clearly put EC in charge of the estate with a large war chest to sue JPM and the FDIC. IMO - This will force an instant settlement. If they think this is really coming soon, could settle now. It is only going to get exponentially more expensive and will be the scandal of the century. IMHO.
Viva - Link to DJ news article?
IF the SNH are smart they offer the EC enough compensation to put the shareholders in the money which will allow them to takeover the estate and then take the lawsuits back to DC. The S&G will point a gun right at the head of JPM and the FDIC. IMHO.
I am still waiting on the 15's you promised.
After the judge rules it will be all over. That said, somebody is going to cave before the judge rules!
The more they bash the higher it goes! Keep it up guys!
Chiron - I am still waiting on my $15's. Can't you get your hedge bosses to push it down there.
Chiron - I am still waiting on my $15's where are they? Nonbody is being fooled by the 100 share dump this morning. I bet we close higher.
Sorry - I forgot the $1B in profits that might come back to the estate from the SNH.
THE FJR just posted by TPS put equity $270MM in the money. That doens't include disallowed WMB $340MM, $5B NOL value, litigation assets and I am guessing billions other hidden assets. IMHO.
Going higher! I am willing to be somebody knows something. This is why the cockroaches have been crawling all over the boards the past few days.
There goes Debbie Downer again with more of his tremendous insight.
Isn't that the truth! He should try posting some facts instead of his "opinions", but then he wouldn't get paid for bashing.
I am sure that PJS did a complete estate valuation including NOL's and missing assets. Maxwell spoke specifically about his valuation of the NOL's during his testimony.
Link to WH Economic Council
http://www.whitehouse.gov/administration/advisory-boards/jobs-council/members/gallogly
DOJ/SEC won't investigate the potential IT on the hedge funds. These hedge funds are Obama's largest fundraisers for his campaign on Wall Street. Some of these hedge funds are on Obama's WH Ecomonic Council. This administration isn't going to shoot themselves in the head. IMHO.
Where is Ilene's wrap-up from Friday? I never saw anything that gave her impressions of how things went and what the EC had to say if anything.
BR involved in Lehman Brothers as well. Someone needs to find that billing and add to this filing for court.
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Weil Gotshal Demands $55 Million for 4.5 Months of Lehman Liquidation Work
10 comments | by: Tyler Durden April 16, 2009 Font Size: PrintEmail Recommend 0 Share this page
Share0 If this does not blow the lid on the thousands of teaparties held in the U.S., then likely nothing will. Weil Gotshal, which is doing nothing more than liquidating the bankrupt estate of Lehman Brothers' non-brokerage operations (the brokerage was stolen by Barclays for pennies on the dollar while Weil stood by the sidelines and gave its blessing to this daylight robbery), has demanded that the wifebeater (aka James "Stella" Peck) approve a $55 million payment for its fees and expenses. Alvarez & Marsal will likely follow suit shortly with another comparable fee demand.
I will discuss this filing in detail tomorrow, but in the meantime I present the compensation application in all its scandalously greedy glory. In the meantime, if there is any lawyer at Weil who did not work on the Lehman liquidation, please raise your hand.
Curiously, how pissed must W. Michael Bond's wife be, after he worked 1,284 billable hours in the 100 work day period between Sept 15 and Jan 31 (exclude 5 holidays and use networkdays on excel) on this mother of all liquidations. As a reference, there are 2,400 hours in that same interval, and assuming 7 hours of sleep a day, 1 hour of assorted bathroom functions, and 1 hour of meals, W.M. Bond spent 85.6% of his non-sleep work day focused exclusively on Lehman and Lehman alone... or at least so he billed.