Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Just thought I'd inject some humor in here. Here is to the end!!!
TPG GETS PAID - ABIGHAMMER AND CHUCKYPOO GET PAID.
UPDATE: Just wanted to let you all know my oven is on preheat for the cinnabons and I used one of the depends already yesterday. How many are in a case? May need to get more soon.
Bid/Ask volumes crazy in Frankfurt this morning. Hundreds of thousands. Gap up 5%. We'll see.
Opens in 2 and 1/2 hours.
http://www.boerse-frankfurt.de/EN/index.aspx?pageID=35&ISIN=US9393221034
Yes by saturday. and judge wanted schedule for deps. I would think this is the time to settle.
I'm thinking stock swap or cash disbursement. All speculation right now.
I am by far no fortune teller, but I say don't expect a runup. Maybe a little growth over the next few days, and I would not be surprised if next week the stock is "halted" after the parties agree to settlement (if that happens) and it wont move until the late august hearing where it will be made official. May be wrong, but that is how I feel.
Thanks for the last clip. I love the part at the end where she says she doesn't want to hear any more. JPM has to know this is not going to go in their favor. I still think the August hearing will be the official end of the JPM saga. THe FDIC on the other hand may be more drawn out.
Nope definitely WMI... going on about how they -JPM- want to drag it out so the settlement is in their favor...
I have a feeling it will be before the 1st of August as that is the date that they have to turn over documents. Then to be made official on the August court date. OH MY GOD! OH MY GOD! OH MY GOD! OH MY GOD! OH MY GOD! OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!OH MY GOD!
I just saw that thread and listened to it again. YES. OH MY GOD!!!!! It is happening!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! They definitely are not referring to the savings plans. By August 1 anyone?
Oh nothing....
Just the judge saying that the 2004 ruling is going forward. No big deal really. LOL
May want to watch JPM's afterhours trades. We'll see how scared they are tonight and tomorrow.
She said she is going to deny the request for reconsideration. I listened I heard.
You officially rock DanBB! I'm out till 3 CT.
Personally, I think that WMI's lawyers were waiting for this. If they present all of the information they have, WMI will be waiting to throw in some of their own docs that JPM has failed to acknowledge along with some of their affidavits.
Kind of get the feeling that JPM just forced the discovery on themselves with this court doc. Wouldn't that be funny.
I think I just became near-sighted from starring at the screen for so long.
Man I can't wait until Monday. Think of all the court docs there will be to read and all the information that will be contained in them. I'm smelling cinnabons again. And I bought my case of depends a while back. AND THANKS MORDICAI!!!!!!
That was mordicai's post.
This may have been addressed before, but looking at the June MOR, I saw this section below liabilities. What do these numbers represent for the shareholders?
Good night all. Here is to tomorrow and next week. Let the buy up begin for the weekend as it always does and then some due to the court date Monday.
She said she may rule on it before June 24th. That hasn't happened yet. She hasn't said anything about it since.
I think you got the dates mixed up. The last hearing was on the 24th of June. The next one is Monday the 27th. Today they were supposed to determine what will happen with the bankruptcy and looks like they got that extended. The judge can rule at any time, but right now it doesn't look like much will happen until the 27th of July, and may not then either. Hope this helps.
Sent this to good old Pat last night. Haven't seen a reply in my inbox yet. Hopefully she will get the message that we know something isn't right.
Patricia,
Thank you for your timely response. I truly do appreciate you taking the time to address SOME of the issues. However, you said, "Under Freedom of Information Act filings, we learned that there were no other bids." While a day after the sale, Sheila Bair reported that there were in fact 4 bidders. Something isn't adding up here.
See: http://money.cnn.com/2008/09/25/news/companies/JPM_WaMu/index.htm
Do you see my concern?
Any response?
Thank you,
C W
- Show quoted text -
That is what I was referring to. Liquidation and they are going to squeeze out every last drop they can for all debts and stock. They don't want to continue, they just want fair value to get out. They probably will never be relisted.
My assumption is that JMW has a ton of appeals, responses, and objections that she has read over and is waiting until the 27th to sort this crap out. She hasn't posted any real orders recently and I think that Monday or Tuesday it will change. It's going to be a long day in the courtroom. MHO
They cannot submit the reorganization plan because it will be necessary to find out how everything being fought in court will result. IE the 4b and discovery.
I agree whole-heartedly. Seems very few actually post info, and the rest just tell others they should believe what they say. If you don't then they pull out the 4th grader name calling. That is why this forum is my favorite. Nice people and good info.
Just wish I had a Pacer account and I wouldn't have to go over there. I'm cheap though.
Plan to extend Chapt 11.
Here you go...
http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_W/threadview?m=tm&bn=86316&tid=194631&mid=194631&tof=25&rt=1&frt=2&off=1
HOLY JEBUS. a ton of docs just posted up on kccllc.net a few minutes ago. gonna stick my nose in the pages for a while.
I don't think so. Most of the time when commons are wiped out, it is because they want to issue new ones and continue business under a different ticker. WAMU wanted out of the business as is evident from earlier last year when they were getting bids from other banks to buy them out. I feel that commons will remain in tact and WMI will just fight till death to get some value back for its shareholders. (especially TPG)
Hey, wouldn't put it past em at all. EOW should be very interesting to say the least.
And away we go!!!! MM's having a hard time keeping it down. Just saw 5.5% for a second.
I was looking at that too!!!! What do you all make of this?
Nevermind found it. Looks like he bought 660000 at 29.96 and sold 601279 at 36.69. Probably just based on the earnings report. Good for him. Won't do him any good in jail.
http://google.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6705823-1315-10468&type=sect&TabIndex=2&companyid=8702&ppu=%252fdefault.aspx%253fsym%253dJPM
Do you have a link to this? Thanks in advance.
Hmmm.... Have been working all today and saw that JPM and WMI have come to an agreement to extend the objection deadline to the 24th. Why is JPM willing to do this? Something I definitely wouldn't expect from them.
My opinion, and this is mere speculation and I hope I'm not thought of as a pumper/ kook, is that they can file this anytime during that day, and if some kind of agreement is in the works something may come out after market close on Friday. That would give them a weekend to get some things straightened out. Why else would they agree to a 4 day extension on this? Monday, they could present that agreement to the Judge and everything is cool.
I for one think that WMI is talking with JPM and FDIC to come to some kind of agreement/ settlement and WMI is just holding the 2004 over their head to say "and if you don't make good with any kind of agreement(s), we have you by the ______s". Hence the delays. I don't think either one really wants to go through the discovery process. It is too costly for both sides.
Hate to beat a dead horse, but back on the "only bidder" statement I received from JPM, I found an article that proves something is very, very wrong here with the whole Freedom Info Act.
Bair said that 4 FOUR (again that's 4) banks made offers to buy Wamu!!!!!!!!!!!!!
My take is that there were 4 bids but only JPM's was going to be taken from the get go.
Here is the link and below is the excerpt I pulled from it:
http://money.cnn.com/2008/09/25/news/companies/JPM_WaMu/index.htm
"All told, Bair said four banks made bids for WaMu but JPMorgan Chase ultimately won out when the auction was held Wednesday. Several other large institutions, including Wells Fargo (WFC, Fortune 500), Citigroup (C, Fortune 500) and HSBC (HBC), were poring over the company's books, according to news reports last week.
JPMorgan Chase won because they were "the highest bid and the lowest cost resolution," Bair said.
"It was our cheapest option," she said."
Was browsing through the yahoo forum and came across a thread about the Wolfe billings. I must say, this contains some really interesting info. Pulled up the file from kccllc.net and man are they busy. Talking with JPM, subpoena issues, discovery, attorney general contacts etc... Take a look for yourself...
http://www.kccllc.net/documents/0812229/0812229090716000000000013.pdf
By the way I appreciate the comments, but I'm just having fun here and hoping to get a nice payday out of it. Some of the others mentioned have contributed far, far more than I have. Remember, I'm still a newbie. Just happy also to be on a board that doesn't have all the bs that yahoo has. It's more of a community here and everyone's your next door neighbor.
GO WAMU!!!!
This is the one I'm looking at.
Actually the doc says March 11, 2006. I'm confused a bit. I thought the contract was given last year, but the papers definitely say 2006
Here are the email addresses for some of the people you may want to send any information to. Pulled off of the yahoo board.
GLTYA
marcia.goldstein@weil.com, brian.rosen@weil.com, michael.walsh@weil.com, danbromberg@quinnemanuel.com, rxza@elliottgreenleaf.com, nrl@elliottgreenleaf.com