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All I can say is....I never underestimate government greed or stupidity.
If I were holding jps....I'd be worried. Derivative claims not going to help them unless enough capital materializes to turn dividends back on. If the specified cap level is hit that triggers that.
Thank you for clarifying RPS!
20-271 case number reference on top of that first page? Where it starts "Re"
Yeah, and if so close to SCOTUS, maybe/probably a low ball embarrassing offer.was the court case listed on that mediator paperwork? For sure it's Collins and not the jps Lamberth case?
Big thumbs up!
Looks like the next big short play is prefs.
That is funny stuff! Totally reminds me of my best friends dad many years ago. Always referred to us kids as mosquitos when we were being annoying, bad, bothersome, pains in the azz, idiots, etc
"jps converted mosquito"
There ya go! Old Bove talking out of both sides of his mouth. Again
JPS are suing who in Lamberths court for dividends? The conservator? The Government? Or the corporation? One and two fail because it is the corporations who establish not paying dividends, or paying dividends (senior prefs). You can not go after the government or conservator for your dividends. So the court is naturally going to side with the corporations since 1, they are in conservatorship and lack capital, 2, the shares are stated as being noncummulative which is a legally understood term.
We all know the government/conservator has puppet lackey's running the GSE's currently (BOD), but that is not the case being fought in Lamberths court. Lamberth will not deem government or conservator at fault because the corporations withheld dividends to preserve capital.
JPS better go with some other fiction, hallucination or conspiracy theory.
Here's the biggest flaw in the JPS plan to rape a windfall in conversion, back dividends or par+....the government does not like competition while it is in full fledged thievery of the GSE's. So the more JPS push for any imaginary plans the more less likely it will be, like cutting your own throat. JPS are headed for a reckoning with the government, and the government won't lose, why? Because the government does not like competition in taking GSE money or equity. (does that sink in yet?)
Back dividends will be tossed by Lamberth. The contract claims JPS constantly site do not take into account the most important fact that all pref holders should have known and read BEFORE they purchased. Noncummulative.
What Is Noncumulative?
The term "noncumulative" describes a type of preferred stock that does not pay stockholders any unpaid or omitted dividends. Preferred stock shares are issued with pre-established dividend rates, which may either be stated as a dollar amount or as a percentage of the par value. If the corporation chooses not to pay dividends in a given year, investors forfeit the right to claim any of the unpaid dividends in the future.
Wrong, jps could be wiped out and replaced with new lower divi jps and it would not hurt commons. As a matter of fact it would cause commons price to rise.
Lol. How's the conversion going? Also.
All this blather, yet not a peep from any one involved about anything, zero, zip, nada on jps. Its got to be getting tough for these guys to keep up this sham.
Naaaaaa, jps is gonna slow burn down as holders start to realize they will get no conversion for a long while. And cram down is a dream. They are trying to release the GSE's into stability. Doing anything for any shareholder group will destabilize, so good luck with the dream.
FYI red tsunami Nov 3 9pm
Im feeling a big, biggly big event coming right around November 3rd.
With markets trending down, it must be a Biden win that is being assumed.....but watch come election day! Boooooom Baaaaam. Trump da man! And then market jumps 1k+ in one day.
Don't worry! Lots of us got big dry $$$$ powder to buy up so jps are stuck holding jps Lol
Wrong....
Dam. I try and try but I get no respect!
Changing my moniker to commons Rodney
I got about 30-40k for when that happens.
I resent that...;-( I thought I was? Lol
Not weak anymore!
Kavanaugh, Grousuch (sp?) And now ACB!
I say we bribe him with a fast food gift card to the chicken sandwich place of his choice and a life time subscription to national geographic. Maybe throw in a couple of pet sea cucumbers and an aquarium??? Sweeten the deal.
Pref's talking about getting back dividends is incorrect. Pref shares are non cumulative which means anytime the dividend is suspended for any reason, it will not be paid back. Not necessarily true for common shares. No such contract legal verbiage restricts common shares.
What gives? FNMAS down. I thought everyone was supposed to be tripping over each other to own?. Why not at par?
That's what I am saying. The old addage: if you throw enough money at the problem, the problem goes away. Give the jps their 75-80% par and then say Akmans 23 to 47 share price ($35), BOOM everyone says deal. Re ipo later with new commons and pref's for bigger money.
The real problem here is not trying to figure out how to pacify and settle with all the shareholders. Its government trying to figure out how to maximize it's theft with outstanding warrants and other crap. That's why I'm convinced they won't ever go with a settlement, because if there are new shareholders, there will be new demands and dirty grubby hands will be demanded to let go of purse strings, which a guy like SM loves oh so much and MC the control freak likes playing boss man. Big move up from his scholastic circle jerk groupie papers.
Fool can't make up his/her mind whether they currently own commons or pref's or wants to own commons or pref's in the future. Its known as being.....
Neurotic means you're afflicted by neurosis, a word that has been in use since the 1700s to describe mental, emotional, or physical reactions that are drastic and irrational. At its root, a neurotic behavior is an automatic, unconscious effort to manage deep anxiety.
I doubt most currentvshareholders would settle for $10/share when government stole 79.9%. Now, $20 to $30 range I would say very few to none would press on in the courts.
If you're gonna pay me for 13 years of your cluster-fuc, then pay me what is fair for my time and grief. Otherwise, have at it SCOTUS, spank'em hard!
Ya gotta get 4 years in minimum in a higher government position to get those juicy taxpayer funded endless benefits for life.
This release will be an ever changing and ever evolving event while so many parts are still unsettled and in play. You can bet Trump/SM/MC have a plan A & B at this point due to election and SCOTUS, but both are partial plans because of the unknown election results and SCOTUS decisions. Even house or Senate getting flipped can affect an unforeseen outcome.
Jps and shareholders have no priority to be dealt with from what is being said and not said, but the fact of the matter is, any claims won by the companies (non direct, derivative) and any actions flowing towards uplist and release will definitely have more positive results on common share class. JMHO.
This is a very real scenario that jps give little credence to. If release or release consent decree and at some juncture they reinstate shareholder rights, that will be proof positive that jps will be left to wait for a dividend and nothing else for a while. They have stated multiple capital raises, so I highly doubt jps are converted until further down the road when the share price has realized some of its huge potential. No way doing a conversion now makes a whip of sense. Its giving away fire sale shares....for what? Because they say so? Lol lol lmao
Did this link get sticky'd? If not, please sticky.
Let's see....cats, inmates, paid 0.20 cents. Hmmmm
Is he implying we will be paid more if we are nicer to him?
Cats=MC
Inmates=shareholders
0.20=our next pop in the stock prices?
Lol
Nice move! Good luck.
Pretty much wrong.
We've been operating 12+ years with very little capital and only the government backstop. We can continue like this while raising capital for the next 4 years. No dividends for anyone until whatever milestones are reached. Jps got a long wait. I think Yank was too generous saying JPS would get par in a settlement. I say 75% max since most jumped in only to be vultures if they were liquidated. So JPS has never been part of the saving and recapping of the GSE's so why should they benefit anymore than what is affordable?
Decisions can be made between Nov 3 right up to Jan 20 when the official transfer of power happens. Those decisions probably won't be liked or looked at as legitimate if the incumbent does not win, but oh well, it's how things go.
Call it: how to go to hell in a handbasket in 3 months.
Good points chess!
Some folks on here really do not understand the gravity of the situation with the courts the government and the GSE's. This is being watched by many in the business world, bank on that. They are all watching to see how this ends up. So government and SCOTUS better have their shyt together on the solution and outcome or business will not go on as usual in the good old USA.
Thank you for pointing out the obvious.
Yep, as I said, scorched earth move if Biden gets in. But I highly doubt we as a nation are stupid enough to vote Biden in.