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Thanks for pointing out the obvious. Of course it is just my opinion.
The fact is that people have been saying that a settlement could happen today, next week, next month, next year, etc. for the last 6 months. I know for a fact that the people that have been buying and selling these stocks are very happy campers and are in a better position because of buying and selling.
That is fine with me if you want to sit and watch while other people make money.
All I know is that if the WAMUs go up, I'm happy, and if they go down, I'm happy.
That's up to you. Do you want to make money, or watch it go up and down for a year?
It doesn't really matter. Any settlement, provided one will happen won't happen for a long time. Any increases in pps should be taken as the opportunity for profit taking imo.
I'm telling you boys and girls, mark the post I am responding to.
So when did David Duval start the Jon Daly diet?
Geez buddy, would it kill you to get into the gym a few times a week?
Eva Cassidy
Songbird:
Full Video: Obama's White House Correspondents Dinner Speech
http://www.huffingtonpost.com/2009/05/09/full-video-obamas-white-h_n_201264.html
Load up on January 2011 C Calls with a SP of $2.50.
If you do that, you will be filthy rich in a little over a year.
Well if there are 35 billion or 50 billion or some ridiculously huge authorized share #, I can take 1 guess who is selling.
What's the status of the divi payments and share buyback? lol
I hope so too, but I'm not counting on it.
There are court dates set that far ahead, and those could very well get pushed back.
2009 Kickoff Event: Greg Koch and Reggie Hamilton
Negotiations of this magnitude and complexity take a LONG TIME and anyone who is expecting a quick resolution or thinks it should have been finalized already is going to be in for a not-so-pleasant surprise imo.
So what's gonna happen with BKUNA on Monday?
Up in pre-market, supertank after the opening bell followed by a nice upswing?
I don't know, you probably could, but you would need to place your order now and get behind the orders that are already placed.
Now if you wanted to sell something like this for .0002, you would be waiting a long time imo.
I am guessing that someone has a HUGE sell order in at .0002 , and I think it would take some pretty heavy buying to break through the first order at .0002 which I imagine to be hundreds of millions of shares. So, if you want to sell at .0002, you would definitely have to set GTC orders for .0002 on a somewhat regular basis, otherwise you will move to the back of the line and you would never be able to sell for a double.
If you want to sell, you get in line, imo.
There is a ton of stuff on the FDIC website, but I don't have the links bookmarked. I stopped diving through the documents a while ago because I was spending too much time doing so.
Those #s would work out to about $12/share, but a lot has to happen to make that happen, which will take a long time imo.
Cheers!
Thanks for the TPTX chart. I know there isn't any volume at all, but there are only 16 million shares outstanding, and if we here the magic word buyout, imo this thing will take off runnin'.
Thanks again, and have a great weekend!
It was a non-conforming bid. They wouldn't follow the guidelines set by the FDIC, so they never actually submitted a bid for the bank, atleast not a conforming bid.
I have a copy of correspondence sent by Citi to Mitchell Glassman, the Director of the FDIC's Division of Resolution. If you look at the 3rd paragraph of the letter, it reads as follows.
"However, we are writing to inform you that we will not be submitting a conforming bid for Washington Mutual under the structure the FDIC has offered; rather, as more fully described below, we are submitting an indicative bid on an alternative approach for your review and evaluation."
Also found in that letter Citi states that they indeed were familiar with Washington Mutual and here is a quote.
"In that same light, if the FDIC were to receive a non-conforming bid that it might otherwise be inclined to accept, we believe that the best and most appropriate option (and the option we believe would be legally required) would be to offer that structure to other bidders, such as us, that have the financial capacity, operational strenth and knowledge of the Washington Mutual franchise and allow competing bids on an immediate basis."
My copy of the letter came along with about 300 pages of documents sent to me by the FDIC in response to a formal FOIA request I submitted, but I believe a copy of the letter is available on the FDIC website. Not sure though.
I also think that they will get the $4 billion, but it is not a fact that it belongs to them. At this point, it is all speculation just like everything else that is being kicked around.
If they don't settle at all, WMI is done for, and nobody will buy them out if a settlement isn't reached imo.
Everybody loses if there isn't a settlement, and if WMI doesn't get their $4billion, all shares are toast.
If WMI gets their $4 billion given to them and if the FDIC settles for 25 billion, then the commons would be valued at approx. $12/share.
If assets are at 8 and liabs are at 8, 3.5 billion is needed to cover preferreds. If the FDIC gives WMI $25 billion, then $25 billion - 3.5 billion = $21.5 Billion
21.5 billion divided by 1.7 billion = $12.647
$12 is not unrealistic if the FDIC pays up half of what WMI is asking for.
If the FDIC doesn't pay up, then all shares are toast, including preferreds.
If anyone else has other #s they are kicking around, I'd love to see them.
For that to happen, we are talking a long time out though, and you can all bank on that.
See you all tonight.
Pretty much knew that was coming. No judge is going to change the precedent on such cases. Not to be a party pooper, but that is what is likely to happen with the lawsuit against JPM too.
It's only money. Easy come easy go.
I have, and good luck finding verifiable information.
Do you know any of their names or familiar with their backgrounds, or is that a secret too?
What BOD ?
That is actually a somewhat reasonable response, but if the company put out the other 800 million the price would go to sub penny levels. NIce try though. This stock is what it is. No buyout will happen. Deal with, and don't mislead investors. It's not nice.
The who pays what is why this is going to take atleast a few more months imo.
WMI isn't worth much until they get $$$ from the FDIC.
There will be no buyout.
Deal with it.
Don't buy into the lies.
The pps gets jacked up, the "company" issues shares and pays people to promote, the trading teams make bank working the stock , and when it's at the top, it gets shorted down to trip zeros.
The slimebags make money on the way up and on the way down.
I am in 100% agreement with you, and those involved should be ashamed of themselves.
If the company and the news were for real, the MMs wouldn't be able to even hold it down, as if there were real buyers, the price would be soaring right now, and if there were tons of shorts (like many claim) that would only help the price soar more.
Thanks for the reality check that many apparently need.
OK, I'll play along. Then why is the share price at .038, down 35% today?
Seriously.
Answer that question to start with.
Also, if there aren't any shares to buy-up, then that would mean that there is a low supply, yet somehow 57 million shares were traded today and the price went down.
How do you explain that?
I look forward to what I expect to be a very creative and entertaining response.
imo when this breaks it will fly .
Love the OS of only 115 million and the 66.4% institutional ownership.
It's not sarcastic, it's called reality.
You didn't answer my question. Why wouldn't the supposed suitor buy up the shares for .05 instead of paying .57/share?
57,000,000 shares traded today, and if a company wanted to buy them, they could have bought up a good chunk of the OS.
It's called logic and reason, and don't give me that crap about being 100% sure.
You might want to look into a little thing called research.
Mgmt firmly controls the majority of the shares outstanding huh?
Did mgmt tell you that? lol
FACT = If the company was legit and if the company that was buying them for .57/share was legit, it wouldn't be at .035 .
The market disagrees with you, and if anybody thought these companies and buyout was for real, they would put in a HUGE buy order at .10 and eat up all of the shares.
Thanks for playin' !
PGYC = SCAM
I didn't have to do too much research to see that one was a scam, but besides the fact that neither PGYC or the "acquirer" can be authenticated, the #s simply don't add up.
Check out my post I shared with the PGYC board a little while ago, which I'm sure will be greeted with nothing but kind words.
hahahha
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37872101
OK PGYC believers. Answer me this.
Why would any company buyout PGYC for .57 per share when they can buy up every single share that is outstanding for .01 -.05 ?
There are 199 million shares outstanding that can be purchased on the market for next to nothing, and if anybody wanted to take over the company, all they would have to do is buy the shares, which they certainly wouldn't have to pay .57/share for .
No company would pay .57/share when they could pay far less than that for control of the company.
Any and all thoughts that can be shared would be very much appreciated and entertaining.
It's gonna move on Monday.