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MMs are loading up for the REAL run that is ahead !
ATTENTION!!!!!!!!
"The R series preferred is convertible at the holders option or at the option of the board of directors. The converstion rate is at a maximum of 115 shares of common."
I AM NOT MISLEADING ANYBODY! LOOK AT THE VERBAGE IN THE PROSPECTUS! DO YOUR OWN RESEARCH AND STOP MISLEADING INVESTORS ROLLER!
115 shares x $.0395 = 4.54
Current price of WAMPQ = 5.69
If WAMPQ was converted to common stock TODAY,
those who bought WAMPQ today would have wasted 1.15 as
those same people could have gotten
115 shares of common for 4.54 instead of 5.69
Any Questions??????
Nice pick-up!
If it goes down again I will pick up more as well.
It is a great SIGN that financial statements are coming out and let me tell you, it is a good sign for anyone who holds a Depositary Receipt, like WAMKQ, as that is what all of the following have been exchanged for. They weren't exchanged for K Series, but that is because they were not supposed to be. Special K is the "receipt" to be holding right now. It is so much better than the other preferreds.
It represents a portion of a $1,000,000 share, which is very, very sweet.
Washington Mutual is going to continue to operate, and when they do, these are the preferreds to be holding. They have so much more tradeability that WAMPQ, and it is my firm belief that NONE of the preferreds will be paid in full as there is no reason for WM to pay the preferreds anything more than dividends. It would not be to their advantage to simply pay full value to preferreds when they can continue to trade without alteration. WM is not liquidating nor has a change in ownership taken place (yet) so anyone who thinks that any of the assets will be used to pay preferreds is simply WRONG. The terms are the terms and WM doesn't have to and WON'T pay preferred holders anything except for dividends. WAMPQ is going to get converted into common shares, but WAMKQ can't. I FEEL GOOD!!!!!
On September 25, 2008, the Office of Thrift Supervision concluded that an “Exchange Event” had occurred with respect to the following securities (the “Securities”):
•
Washington Mutual Preferred (Cayman) I Ltd. 7.25% Perpetual Non-cumulative Preferred Securities, Series A-1 (to be exchanged into depositary shares representing Series J Perpetual Non-Cumulative Fixed Rate Preferred Stock of Washington Mutual, Inc. (“WMI”));
•
Washington Mutual Preferred (Cayman) I Ltd. 7.25% Perpetual Non-cumulative Preferred Securities, Series A-2 (to be exchanged into depositary shares representing Series J Perpetual Non-Cumulative Fixed Rate Preferred Stock of WMI);
•
Washington Mutual Preferred Funding Trust I Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series I Perpetual Non-Cumulative Fixed-to-Floating Rate Preferred Stock of WMI);
•
Washington Mutual Preferred Funding Trust II Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series L Perpetual Non-Cumulative Fixed Rate Preferred Stock of WMI);
•
Washington Mutual Preferred Funding Trust III Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series M Perpetual Non-Cumulative Fixed Rate Preferred Stock of WMI); and
•
Washington Mutual Preferred Funding Trust IV Fixed-to-Floating Rate Perpetual Non-cumulative Trust Securities (to be exchanged into depositary shares representing Series N Perpetual Non-Cumulative Fixed-to-Floating Rate Preferred Stock of WMI).
What was the LOWEST anybody here was able to pick shares up at today?
Just curious as I am guessing that if you tried to buy at .18 or .19 it didn't go through, but I could be wrong.............
So I just got back from class and can't believe how many
WEAK hands shares were in.
Unbelievable!
Anyone who sold deserves to miss out on the benefits, and if any of these sells were due to stop limits being set, that is what you get for even setting a stop limit.
556,206 shares traded huh
MMs made out like absolute bandits today.
Way to hand over your shares for nothing sellers!
YOU ARE WRONG!
I am done arguing.
WAMKQ dividends have been declared and will be paid once WM is out of ch 11. If they are not paid, then this will be 1 missed payment (which still is payable) and if 5 more are missed, then all WAMKQ holders will be paid $25 per share and dividends missed.
I WILL NOT give you a free handout in the form of a link.
Also, if you hold WAMPQ , I would be trying to locate the link discussing what the board made a motion to do with the R-series preferred even before the "collapse". If those who think it would be a "good thing" for WAMPQ to be converted, they are sorely mistaken. If I want 50 shares of common I will just by them at .04 per share instead of overpaying for them in the form of WAMPQ.
If you don't believe me, that is more than fine with me.
DO YOUR OWN RESEARCH AND NEVER COME TO ME ASKING FOR A LINK!
GO FIND IT YOURSELF!!!!!
You are wrong Jerry.
There are declared dividends, dividends are suspended,
EVERYONE knows that dividends aren't dispensed while in ch 11, however, certain dividends will be paid after emergence from ch 11.
I would have to agree with you.
I might even go as far as saying that a
"full disclosure" never has happened, won't happen on the
2nd, and will never happen.
Everyone will have access to a copy that is wrinkled and
blurred and people will still be asking the same questions
about how many assets WM has, is the $4.4 billion included, how much are my shares "worth", what are my common shares going to be worth, and things of that nature?
By the time an "accurate" list of assets will be available for everyone to see, WM will be EMERGING from
ch 11, WAMKQ will be up thousands of percentage points as will WAMUQ, WAMPQ will be sitting at $5-10 until the common stock is trading at $5-10 in which case those who purchased WAMPQ thinking they would get $1000 won't, and they would have been better off buying WAMKQ and WAMUQ imo
blarsh8,
I think you nailed with slim to none
Have a good night!
PLEASE STOP POSTING FALSE INFORMATION HROLLER!
How can you tell people what a 50% recover of WAMPQ is
when there is no EXACT value of WAMPQ due to the
verbage in the prospectus?
Stop LYING HROLLER.
You aren't following your own advice.
You are better than that little guy!
Thanks. I'm zipping it up.
Just got in a few last good ones that really p'd him off!
hahahahhaha
C U in the mornin' dragon52 !
wooooohooooooooooooooooooooooo
Well I would rather take $5.49 and buy 16 shares of WAMK
that will be worth a LOT more than 9.10 after tomorrow.
Again, I am not changing my position on this so we will have
to AGREE to DISAGREE.
Or not, it is up to you.
[||peace||>
Fair enough, but it is very MISLEADING for
anybody to suggest that the value of WAMKQ is somehow
tied to WAMPQ as it is not.
WAMPQ does not represent any amount of shares of WAMKQ nor
does the price of 1 have anything to do with the other.
I don't know what the fuss is about, I think it is just
HROLLERs attitude. He should get down off his H HORSE and pull his H out of his A , and join everybody back in
reality. The guy should really show some respect and for having experience as a trader, he sure doesn't pay close attention to details or have very good math skills.
I am DONE supporting the value of WAMKQ.
You are correct that it is bad for everybody when such silly antics go on, and for hurting WM I do apologize.
Thanks for everything dragon52!!!!
I don't believe that any REAL NEWS will come out tomorrow, nor do I believe that the assets will "be revealed" on
Tuesday.
Misinformation and misdirection is the name of the game.
If most people feel that tomorrow is going to be a BIG day,
and if the rest of the people think that Tuesday will be BIG,
then it is my prediction that nothing "new" will transpire on either of these days.
Tomorrow will be BIG for WAMKQ and WAMUQ, and WAMPQ will be down.
I hope I am wrong and hope that DEMON makes the announcement
tomorrow when the spotlight is already on him anyway.
We'll see buddy. No matter what, even if NO BUYOUT happens, we are stacked and couldn't be in a better position.
Just think, there are so many people that invest in BK stocks with absolutely no chance of getting paid.
Well WMs assets heavily outweigh their assets, which I can come within $100 million of "estimating", and there is
NO DOUBT that we are ALLGOOD !!!!
: ^ )
Thanks for the post!
Please see message #44156
I think you will enjoy it!
: ^ )
Anything is possible sidedraft!
We could all wake up tomorrow and all of our WM stocks could
be worth zero.
We could all wake up tomorrow and all of our WM stocks could
be worth $100.
However, I have done enough DD , to be very confident that WAMKQ HOLDERS will be getting the 4th and final dividend payment of this year, even though it will not be distributed this year.
No such dividend will be paid to WAMPQ, which should be a sign of what's to come. I actually have a great link that discusses WMs motion to do something with the
WAMPQ dividends, but I AM NOT going to SHARE it with those guys because they should already be aware and should have this link on their ibox.
So, anything is possible. WM could stop paying divis, which would result in CASH for WAMKQ holders, or WM could
INCREASE dividend payments for certain stocks.
Good question, but something tells me you already knew the answer.
For future questions on this board, please do not ask
rhetorical questions such that begin with "is it not possible"
Anything is always possible so please feel free to leave phrases like that out of your questioning as everybody already know that.
THANKS!
b
Thanks for everything contractor10940! eom
Whether you BELIEVE IT OR NOT............
AMNE IS TURNING THE PAGE and BREAKING FREE from past "issues"
I only just started reviewing SOME of the DISCUSSIONS here,
but it seems that much of what has been talked about
ONLY brings NEGATIVELY SPECULATIVE, IRRELEVANT INFORMATION to
a table at which SUCH INFORMATION IS NOT INVITED.
AMNE IS GOING TO THRIVE OVER THE MONTHS AND YEARS TO COME!
(Especially doing business during an OBAMA ADMINISTRATION)
AMNE WILL HAVE A SUBSTANTIAL INCREASE IN REVENUE DUE TO
INCENTIVES PROVIDED TO DEVELOPERS, CONSTRUCTION COs, etc, etc,
AND
ARE MORE THAN LIKELY TO RECEIVE INCENTIVES THEMSELVES
DUE TO THE "NATURE" OF THE INDUSTRY IN WHICH THEY WORK.
NEWSFLASH:
AMNE HAS PERFORMED ALL NECESSARY SYSTEM CONTROL CHECKS, HAVE IDENTIFIED AND ELIMINATED THE ROOT CAUSE OF THE "PROBLEMS" IN THE PAST AND WILL BE TAKING OFF SHORTLY!!!!!
MAKE SURE TO BUCKLE UP IF YOU'RE HOLDIN',
AND IF YOU ARE A NONBELIEVER, THEN GO TO THE JPM BOARD!
HAVE A GREAT WEEKEND!!!!!
table
Thanks for the post.
The pricing doesn't make sense is right on the head.
Please see below:
EXAMPLE INVOLVING PARITY ILLUSTRATING WHY WAMKQ IS THE BEST
If WAMKQ and wampq are "IN PARITY", which they are,
and if there was 1 share of WAMKQ outstanding,
and if there was 1 share of wampq outstanding,
and all CREDITORS who needed to be paid off were paid,
and there was $50 left to pay the PREFERREDS
then 1 WAMPQ = $25 AND 1 WAMKQ = $25
I KNOW THAT I WOULD MUCH RATHER PAY .33 FOR $25
AS OPPOSED TO $5.42 for $25
Maybe I am missing something, but IMO WAMKQ is the BEST!
(Also, there is no "conversion" factor that comes into play with WAMKQ please see message 3247 and let me know what you think)
THANKS!
I REALLY THINK the MMs know that people can dump WAMPQ
for a BIGGER chunk of change and want the $$ right away, so they simply won't buy unless people lower their asks.
These would be good ones for the MMs to actually have if a conversion does take place as they would get a sh!tload of shares to trade if that happened, which would actually be good for EVERYBODY.
The whole situation was messed up from the GET-GO , and that is not going to change anytime too soon.
Don't forget that IT'S ALLLL GOOOOOOOD !!!!!
I KNOW IT IS OLD NEWS BUT..................
Look at the 2SYMBOLS right next to EACH OTHER
and I LOVE that it says "RELATED QUOTES"
--------------------------------------------------------------------------------
Related Quotes
Sym. Price Chg.
JPM Trade
News 31.66 1.04
WAMUQ Trade
News 0.049 0.0025
JPMorgan To Retain WaMu Branch Staff, Cut At WaMu HQ -Reuters
Nov 29, 2008 16:11:58 (ET)
DOW JONES NEWSWIRES
The 20,000-plus employees who work at Washington Mutual Inc.'s (WAMUQ) branches are likely to keep their jobs, JPMorgan Chase & Co. (JPM) spokesman Tom Kelly told Reuters Friday. JPMorgan will also retain about 2,000 California-based WaMu staff in roles such as mortgages and wealth management, Kelly said. However, substantial job cuts are planned at WaMu's Seattle headquarters and in back-office positions in California, Reuters reported. JPMorgan expects to tell all former WaMu employees by Monday about the status of their jobs.
Full story at: http://www.reuters.com/article/bankingFinancial/idUSN2845240520081128
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=0JBT6WDJjl8kMJqat75yDA%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
November 29, 2008 16:04 ET (21:04 GMT)
HOW MANY PEOPLE HERE HELD WAMPQ BEFORE SEPTEMBER????
I AM JUST CURIOUS AS I AM FAIRLY CERTAIN THAT NOBODY ON THIS
ACTUALLY PAID EVEN CLOSE TO $1,000/SHARE AND HAVE A LINK I'D LIKE TO SHARE ABOUT WAMPQ AND DIVIDENDS IF NO ONE RESPONDS,
BUT I WOULD APPRECIATE IT IF ANY "PREVIOUS" WAMPQHOLDERS WOULD SHARE THEIR EXPERIENCE ABOUT THE WAMPQ DIVIDENDS FIRST.
THANKS!
SEE EVERYBODY ON MONDAY
Exactly marayatano.
The dividend VERBAGE for WAMPQ and WAMKQ are the same.
I would gladly pay .25 and wait 2 years to get $25
if divis stop being paid on WAMKQ
If DIVIDENDS STOP BEING PAID ON WAMPQ, then
WAMPQ WILL BE CONVERTED INTO COMMON SHARES, NOT CONVERTED INTO $1,000.
Also, it is VERY VERY LIKELY, that WAMPQ DIVIDENDS are the DIVIDENDS THAT WON'T BE PAID.
The VERBAGE about DIVIDENDS in CH 11 MEANS THAT DIVIDEND PAYMENTS WON'T BE SENT ON THE PROJECTED DATE, BUT ALL DECLARED DIVIDENDS WILL BE PAID.
IT IS ALWAYS THE CASE WITH ALL PREFERRED STOCKS THAT DIVIDEND
PAYMENTS CAN CEASE. HOWEVER, THAT IS WHY
HAVING A PREFERRED STOCK THAT IS NOT CONVERTIBLE
IS THE SAFEST PLAY BECAUSE THERE IS NO GRAY AREA!!!!!
If they were in CH 7 I would be worried.
If they were not going to continue to operate, I'd be worried.
If there was not a chance of a BUYOUT, I'd be worried.
None of these things are TRUE.
WAMKQ 12/17/08 DIVIDEND PAYMENT HAS ALREADY BEEN DECLARED
AS IT IS THE 4TH PAYMENT OF A DECLARED YEAR
EVEN IF DIVIDENDS WERE NOT A BENEFIT OF WAMKQ, WAMKQ HAS A
CASH LIQUIDATION VALUE
When I say "worried" above, I am really not worried. I started with almost nothing (which was everything I had and wasn't much) and now hold 50 Ps, 10,245 Ks, and 23,400 Us
so I am happy to have taken the chance and benefited already.
Thank you for sharing, but I am already familiar with
ALL of the SEC filings regarding WAMKQ and WAMPQ, and I am
standing by my position that WAMKQ is the BEST IMO
BUT DON'T FORGET THAT.....................
IT IS ALL GOOD BROTHER! NO DOUBT ABOUT IT!
IT IS ALMOST TIME TO GET DOWN TO THE BUSINESS OF GETTIN' DOWN MY FRIEND!
I am done "pumping" , even though I truly am not a pumper.
I am just PUMPED UP because these STOCKS ARE HOT!
HAPPY HOLIDAYS WAMOOK!!! I LOVE READING YOUR POSTS!!!!!
HROLLER IS RIGHT IN A BUYOUT OR CH 7 LIQUIDATION ONLY
(reference # 822 WAMKQ board)
We are not in a CH 7 situation, if WAMPQ holders have dividends missed they will not see $1,000, they are not even callable until like 2040 or something like that and will never trade as high as $1,000 ever again. I can't even believe so many people are having this argument.
PLEASE see message # 3247 on the WAMPQ BOARD for the
BREAKDOWN of WAMPQ if converted and let me know if my math checks out.
Thanks!
HROLLER WAS RIGHT THAT THE NUMBERS DON'T LIE!
HIGHLY DOUBTFUL MY FRIEND.
MORE OFTEN THAN NOT, SH!T HAPPENS WHEN IT IS LEAST EXPECTED.
THE LESS PEOPLE THAT KNOW WHEN "NEWS" IS COMING
THE BETTER.
EVERYBODY(with the exception of some)WILL HEAR ANY AND ALL
NEWS AT THE SAME TIME AS USUAL.
EVERYBODY HAS ACCESS TO THE SAME INFORMATION WHETHER ONE ADMITS IT OR NOT. IT IS HOW ONE USES THAT INFORMATION THAT IS IMPORTANT.
SO, if a LOT of people are expecting any sort of
"REAL NEWS" on MONDAY, then if such news is upcoming
shortly, it is MOST LIKELY NEWS WILL NOT COME ON MONDAY!
Hope you are ENJOYING your weekend!
I am going to sit back and read ALL OF THE POSTS
[|| PEACE ||]>
The ONLY WAY that could happen here is if this turned into
a chapter 7 case.
THERE IS ABSOLUTELY NO CHANCE OF THAT HAPPENING.
DO NOT WORRY YOURSELF WITH THINGS OF THIS NATURE.
: ^ )
READ THE PROSPECTUS CLIMBERPROF
IF DIVIDENDS ARE MISSED , THOSE DIVIDENDS WILL STILL BE PAID!
IN ADDITION TO THOSE DIVIDENDS BEING PAID, THE LIQUIDATION VALUE OF $25 WILL BE PAID TO WAMPQ HOLDERS!
FOR THE WAMPQ HOLDERS, DIVIDENDS MISSED WILL BE PAID!
ALSO, THE WAMPQ HOLDERS COULD HAVE THE SHARES CONVERTED TO COMMON, OR WM HAS THE RIGHT TO ESTABLISH A "PRICE"
READ THE PROSPECTUS
ATTENTION EVERYBODY:
DON'T KEEP ASKING THE SAME QUESTIONS!!!!!!
LAWYERS ARE HAVING A FIELD DAY WITH WAMUQ AND WAMKQ FOR A
REASON!
DO THE RESEARCH, DO THE MATH, AND IF YOU DO THAT, YOU WOULDN'T HAVE TO ASK QUESTIONS REGARDING MISSED DIVIDENDS.
You are right that WASHINGTON MUTUAL WILL NOT GO INTO
LIQUIDATION
But climberprof, you seem to be missing the FACT
that if the commons even see 1 PENNY,
then the PREFERREDS GET PAID IN FULL PERIOD.
THIS IS THE WAY IT IS.
Now I just bought 24,000 shares of WAMUQ last week, so I
see the TRUE VALUE in the common stock, but don't be
confused about the PREFERENCE preferreds have over common.
To answer your question, if the PREFERREDS continue to trade as is and they fail to make 6 DIVIDEND PAYMENTS,
then WAMKQ HOLDERS will receive $25/share + missed divi pmts
WAMPQ HOLDERS will receive missed divi pmts + ???(likely conversion to common)
I REALLY WOULD LOVE TO HEAR SOME ARGUMENTS AGAINST MY POSITIONS ON THESE AND OTHER SCENARIOS.
WAMKQ = CASH COMPRISED OF DIVIDENDS AND LIQUIDATION VALUE
WAMPQ = the only guaranteed cash is COMPRISED OF DIVIDENDS
the "rest of what is owed" = ?????
EXAMPLE INVOLVING PARITY ILLUSTRATING WHY WAMKQ IS THE BEST
If WAMKQ and wampq are "IN PARITY", which they are,
and if there was 1 share of WAMKQ outstanding,
and if there was 1 share of wampq outstanding,
and all CREDITORS who needed to be paid off were paid,
and there was $50 left to pay the PREFERREDS
then 1 WAMPQ = $25 AND 1 WAMKQ = $25
I KNOW THAT I WOULD MUCH RATHER PAY .33 FOR $25
AS OPPOSED TO $5.42 for $25
Maybe I am missing something, but IMO WAMKQ is the BEST!
(Also, there is no "conversion" factor that comes into play with WAMKQ please see message 3247 and let me know what you think)
THANKS!
It is my understanding that there SHOULD BE NO "SHOULD BE"
when it comes to the price of a stock.
WAMKQ PAYS DIVIDENDS , 6 DIVI PAYMENTS ARE MISSED, HOLDERS WILL GET ALL PAYMENTS MISSED AND $25 PER SHARE.
WAMKQs VALUE DOES NOT RELY OR HAVE ANYTHING TO DO WITH THE
PRICE OF THE OTHER WM STOCKS.
I DON'T KNOW WHERE EVERYBODY IS GETTING THAT IDEA.
WAMKQ HAS A MEASURABLE DOLLAR VALUE THAT CAN BE
ENTIRELY ACCOUNTED FOR.
WAMPQ HAS SEVERAL GRAY AREAS AND THE BOTTOM LINE IS IF
THEY WERE CONVERTED RIGHT NOW, HOLDERS OF WAMPQ WOULD NOT BE AS HAPPY AS THEY THOUGHT THEY WOULD BE.
I think I do understand the CONVERSION.
Your 182 shares of common x .05 = $9.10
That doesn't seem like the best result.
Maybe I am missing something .......
WAMPQ CONVERSION UPON FUNDAMENTAL CHANGE
I don't have a recommended ration for these stocks,
but I would say that if you are holding KQ and PQ evenly,
YOU ARE GOLDEN! Don't even worry about picking up WAHQE, as although it is "first in line" so to speak,
ASSETS > DEBT, therefore KQ and PQ are GOLDEN, thereby elimintaing the need to spend $1.50-2.00 per share for
"SECURITY)
Sounds like you are in GREAT SHAPE! If you have extra ching, go nuts on WAMKQ and WAMUQ and you will be thanking yourself down the road.
If I were you I would pick up some WAMUQ at .05 if you still have the chance on Monday. If you held 10-20,000 WAMUQ when the run starts, you will have the ability to HOLD ON to
your preferred shares while still having the opportunity
to capitalize off of the huge % gains provided by WAMUQ.
They are all GREAT INVESTMENTS!
I would , however, familiarize myself with the conversion verbage, and what does and does not constitute :
Section 5. Liquidation. (a) In the event the Company voluntarily or involuntarily liquidates, dissolves or winds up
DON'T BE SO CERTAIN THE HOLDERS OF WAMPQ ARE GETTING $1,000 PER SHARE ANYTIME TOO SOON! I WOULD LOVE TO HEAR SUPPORTED ARGUMENTS THAT CAN COME CLOSE TO PROVING THAT $1,000 CASH IS OWED TO THEM AT THIS TIME. WE ARE NOT IN CHAPTER 7 PEOPLE, AND IF NO BUYOUT IS EXECUTED, YOU WILL NOT SEE $1,000 PER SHARE FOR A LONG TIME!
i) The exact Make-Whole Acquisition Stock Prices and Make-Whole Acquisition Effective Dates may not be set forth on the table, in which case:
(A) if the Make-Whole Acquisition Stock Price is between two Make-Whole Acquisition Stock Price amounts on the table or the Make-Whole Acquisition Effective Dates are between two dates on the table, the number of Make-Whole Shares will be determined by straight-line interpolation between the number of Make-Whole Shares set forth for the higher and lower Make-Whole Acquisition Stock Price amounts and the two Make-Whole Acquisition Effective Dates, as applicable, based on a 365-day year;
(B) if the Make-Whole Acquisition Stock Price is in excess of $150.00 per share (subject to adjustment pursuant to Section 13 hereof), no Make-Whole Shares will be issued upon conversion of the Series R Preferred Stock; and
(C) if the Make-Whole Acquisition Stock Price is less than $17.42 per share (subject to adjustment pursuant to Section 13 hereof), no Make-Whole Shares will be issued upon conversion of the Series R Preferred Stock.
(ii) The Make-Whole Acquisition Stock Prices set forth in the table above are subject to adjustment pursuant to Section 13 hereof and shall be adjusted as of any date the Conversion Rate is adjusted. The adjusted Make-Whole Acquisition Stock Prices will equal the Make-Whole Acquisition Stock Prices applicable immediately prior to such adjustment multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to the adjustment giving rise to the Make-Whole Acquisition Stock Prices adjustment and the denominator of which is the Conversion Rate as so adjusted. Each of the number of Make-Whole Shares in the table shall also be subject to adjustment in the same manner as the Conversion Rate pursuant to Section 13.
(a) If the Reference Price in connection with a Fundamental Change is less than the Applicable Conversion Price, a Holder may convert each share of Series R Preferred Stock during the period beginning on the effective date of the Fundamental Change and ending on the date that is 30 days after the effective date of such Fundamental Change at an adjusted conversion price equal to the greater of (1) the Reference Price and (2) $8.71, subject to adjustment as described in clause (b) below (the “Base Price”).
(b) The Base Price shall be adjusted as of any date the Conversion Rate of the Series R Preferred Stock is adjusted pursuant to Section 13. The adjusted Base Price shall equal the Base Price applicable immediately prior to such adjustment multiplied by a fraction, the numerator of which is the Conversion Rate immediately prior to the adjustment giving rise to the Base Price adjustment and the denominator of which is the Conversion Rate as so adju
(c) In lieu of issuing Common Stock upon conversion in the event of a Fundamental Change, the Company may at its option, and if it obtains any necessary regulatory approval, pay AN amount in cash (computed to the nearest cent) equal to the Reference Price for each share of Common Stock otherwise issuable upon conversion.
I WOULD DUMP 50-100 SHARES OF WAMPQ AND PICK UP SOME OF THE RUNNERS, BUT THAT IS JUST ME. BUT THERE IS A REASON
WHY WAMPQ IS NOT SEEING THE GAINS OF WAMKQ. IT IS NOT AS IMPRESSIVE AS IT APPEARS TO BE AT FIRST GLANCE.
IF YOU ARE HAPPY WITH YOUR POSITIONS, THEN HOLD!
IF YOU HAVE EXTRA $$$, THEN PICK UP A SOME WAMKQ AND WAMUQ
FOR TRADEABILITY
Best of Luck, but it sure sounds like you don't need it.
YOU ARE IN A GREAT POSITION!
Have a GREAT WEEKEND!
There is nothing in binding VERBAGE that suggests that
conversion to common is an OPTION,
but such a conversion could be an OPTION, depending on what is decided.
If my understanding of the terms of the issuance are correct,
then DIVIDENDS WILL BE PAID at some point and if WM misses 6 dividend payments, then they still must pay the DIVIDENDS and $25 share.
Depending on how this exactly works out, it is not out of the realm of possibility that this will continue to trade as is, which is AOK with me, divis + LV are paid (fine with me), or an offer for warrants, OPTIONS, exchange for common stock, etc. are all realistic outcomes for ALL SHAREHOLDERS, regardless of the STOCK.
I feel it would be in WMs best interest to keep on paying the dividends on the KQs as there is no reason to pay all of the HOLDERS the LV if that is not necessary or required. I would also convert the WAMPQ into a TON of new common shares to reward them for their purchases (or the prospectus says WM can come up with a $ amount per WAMPQ share based on pretty much whatever they want and appointed directors approve).
Continued Operations appear to be more than LIKELY, but
certainly would not complain about being part of a BUYOUT either.
I wish C would buy/merge/absorb WASHINGTON MUTUAL.
It would be to their BENEFIT for many reasons and it would please me very much as they could still go after the BAD GUYS with a vengeance.
Nothing is off the table, short-term or long-term.
Don't be suprised by anything and be READY for everything!
HAHAHAHAHA
I cannot wait until I can turn on my computer and just start laughing at all the ZEROES
I always keep an EXCEL FILE open at all times for quick regression analysis AND use the formula function as a calculator because it is QUICK and it can hold more 000000s than a regular calculator for when I estimate LT GOALS.
Even if all of these stocks went to .00000000000000001
which is not even possbile, I would still buy as much as I could because these things are HOT, they have provided much entertainment, and acted as a good ENGINE and RESEARCH re-fresher course.
These things are going to come out SMOKIN' next week.
I have FULL confidence that the MMs are going to put their ACES in their PLACES and it is going to be a good game to watch.
Have a GREAT weekend!
Thanks for the BEAUTIFUL CHARTS with SUPPORTIVE ANALYSIS!!!!!
If I had enough $$$ I would be LOADING UP,
but I don't. I am not a huge fan of the conversion verbage, but I do realize there is no way WASHINGTON MUTUAL is going to kick the guys that helped them raise $3 BILLION less than a year ago in the nuts.
WAMKQ AND WAMUQ are my plays for GOOD or for BAD.
Hey HROLLER, the more I thought about what you said last week, the more I realized that the MMs do work their @$$e$ off, and even thought they do "control" the price, that is actually a good thing for EVERYBODY. I personally do not think it is a bad thing for MMs to make their $$ off the top of any and EVERY transaction. That is why I have no problem bidding .01 over the ask for WAMKQ and .002 over the ask for WAMUQ. I figure it gives them a little extra and it lets them know that I have no problem paying that much(even though my purchases are very insignificant) and I also benefit by getting what I WANT right away.
I enjoy reading your posts, that are visible, and I do envy your experience when it comes to REAL TRADING, as with regard to that, I am indeed a ROOKIE and very much CLUELESS.
Best of Luck and be THANKFUL you are SMART enough to be on the GOOD SIDE of this MESS.
BAD GUYS = PAULSON, FDIC, AND JPM
||PEACE||>
TRUST ME when I say
Jamie Dimon, or as his enemies(he has no friends)call him
DEMON, has a little over one month to do the SMART
thing, which is to EXECUTE A FAIR BUYOUT.
I did not say that he has a little over a month to do the
RIGHT THING, as that time has come and GONE my friends.
We all know what JPM has to BENEFIT from a BUYOUT and the days for OBTAINING those BENEFITS are quickly DRAWING to a
close.
TRUST ME when I say that if Jamie Dimon knows what is good for him, he WILL EXECUTE A BUYOUT so that he doesn't have to DEAL with an OBAMA ADMINISTRATION that will take him down HARD if this isn't over by the time
OBAMA is OFFICIALLY IN CHARGE. OBAMA does not take any sh!t from ANYBODY and he doesn't believe in simply handing out money to BUSINESS unless there are PRECISE and TRANSPARENT
strings attached.
DEMON'S DAYS ARE RUNNING OUT, AND IF HE DOES NOT DO THE
"SMART" THING SOON, I WOULD DEFINITELY SELL HIM SHORT DOWN TO BEING IN THE FETAL POSITION ON A COLD HARD PRISON FLOOR WITH AN AHOLE SO BAGGED OUT, COURTESY OF HIS NEW
"ROOMIE" THAT THEIR NIGHTLY CELL ACTIVITIES CLOSELY RESEMBLE THROWING A HOTDOG DOWN A HALLWAY!
LISTEN UP JAMIE DIMON,
DO THE RIGHT THING OR YOUR A$$ WILL BE THE PROPERTY OF SOMEBODY ELSE.
"HANK" PAULSON, IF YOU'RE OUT THERE READING IN, THE BEST THING YOU COULD HOPE FOR IS MAJOR HEALTH COMPLICATIONS THAT WILL TAKE YOU OUT OF THE GAME FOR GOOD. NICE ONE TRYING TO
"GIVE" OBAMA $350 BILLION OF THE "BAILOUT" MONEY TO DO WITH WHAT HE PLEASES. GUESS WHAT PAL, OBAMA DOESN'T OPERATE LIKE THAT HE IS WAY TO INTELLIGENT TO BE INSULTED BY WHAT IS CLEARLY AN ATTEMPT TO GET ON THE "GOOD SIDE" OF PRESIDENT ELECT OBAMA. WELL LISTEN UP HANKY BOY, IF YOUR LITTLE PAL JAMIE ISN'T ABLE TO GRAB HIS LEFT EAR WITH HIS LEFT HAND AND HIS RIGHT EAR WITH HIS RIGHT HAND, PULL AS HARD AS HE CAN AND SUCCESSFULLY PULL HIS HEAD OUT OF HIS @$$, THEN YOU ARE GOING TO BE FOREVER KNOWN AS HANKY PANKY IN CELL BLOCK D, WHERE THE FOOTLONGS ARE FREE EVERYDAY!
JMO+EIETTOOT
That is GREAT ADVICE.
I started with only $1,200 in and now have almost $5,000 in
FRESH MARKET VALUE, which is ALL still in WM stocks. I am a ROOKIE and am POOR, but both of those ARE going to CHANGE!
I have 50 P, over 10,000 K, and 25,000 U
I sold all my HUQ a few weeks ago as it was DEAD MONEY and
although the "first in line" characteristic is ATTRACTIVE, I am not worried about any of the SHAREHOLDERS getting shafted, let alone the PREFERREDS. I have been accumulating as many WAMKQ LOTS as possible and am more than pleased with my POSITIONS.
I haven't flipped anything for a month, and even when I did, I always made sure to have what I WANTED well before the close of each day.
JPM HAS ONE LAST CHANCE TO DO THE RIGHT THING, AND THEY ONLY HAVE ONE MONTH TO MAKE IT HAPPEN!
Thanks for the WISDOM as it is very much APPRECIATED!!!
GLTYT
Don't QUOTE me on this, but I don't think a LOT of rules apply to BK stocks.
I am certain that others on the board have more knowledge than me on this. Maybe ask HROLLER. He knows what's up!
Welcome Back Mehedi!
The $16.60 is what it is and it is BEST to leave it at that.
Sh!t is going down by friend, and we're GOLDEN.
Hope you had a GREAT TURKEY DAY!
Rest up because it is going to be a CRAZY WEEK........
hahahahaha
I'm not saying that it's not a GREAT investment,
because it is a GREAT investment.
All I am saying is that it is not as BIG and TOUGH as many
HOLDERS might think. It is higher in price which decreases the tradeability and it is POSSIBLE that WAMPQ holders
will have their shares converted into common shares, and if that is the case, WAMUQ better RUN FOREST RUN
There is LIGHT, and you will see it SOON!
You made a GREAT PICK when you made your decision before
the sh!t went down, and your GUT was right.
ASSETS > DEBT
WAMUQ and WAMKQ are going to RUN , so hopefully you are
HOLDING both of these.
It will be interesting to see how WAMPQ plays out as that stock is not as GREAT as many think.
HOLD STRONG, and HAPPY HOLIDAYS!