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I *assume* if JPM doesn't own the mortgages and the FDIC doesn't own the mortgages then they had to remain with Washington Mutual which we own part of.
What is a SPAC? I don't see it defined in the I-box
Yes I still hold a position. I haven't made any changes since the days of the releases. I really have no idea what is going on now but am happy to see positive activity.
Hello everyone. It's been a while since I've posted here. I took time off from this stock when the shares are being converted. I'm pleased to see the increase today. A few more days like this and I will be back at my initial start.
May those of us who stood by her have a happy and positive result.
Let's go WHIM
It's been a while since I've visited. I promised myself I wouldn't look at the stock until December so I haven't read anything in the ibox. I just wanted to say I'm still holding this stock and Sandy took me down but not out. I had no power until today but my house is fine.
May 2013 give us a great year on this stock.
I just googled WMI Holdings and saw this MANTUA entry
http://www.manta.com/c/mm822mx/w-m-i-holdings-llc
I don't know if it is "US" but it's been around since 2000 and is listed as Personal Holding Companies, Except Banks in Wilmington, NC
I am not the one to speculate on anything. I'd end up low balling the amounts and annoy many of the wise posters here. I would love to see what Johnny Winter and some of of the other posters who made predictions come up with for speculation.
To raise cash we could do WAMU car washes in the parking lots of Chase banks
I just saw this article form last year http://bizmology.hoovers.com/2011/12/28/ge-to-enter-the-online-banking-game/
Not trying to speculate here but would GE in this case be able to merge with newco?
For my sanity I'm going to skip thinking about this until Monday and take some time off from work to visit the Fidelity office nearest to me because now I am getting conflicting information
<from chat log>
<me> : thank you
Thomas Hartley: The KY address for the ballots is only slightly different than our standard overnight. Here is the overnight address you can use for the ballots:
National Financial Services 100 Crosby Parkway Covington KY 41015
Attn: Mail Zone KC1I
<me> : That address is for ALL classes of ballots?
Thomas Hartley: That is correct.
<me> : That is the address I sent my three ballots to for the PQ, UQ and KQ's that I have. It was sent priority mail 9405 5036 9930 0391 1549 16 and was delivered there
<me> : When I inquired why only one class of stock was showing locked I was told that I was supposed to send the ballots for the PQ and KQ to a different address
Thomas Hartley: Allow me a moment to review your account notes, I am check to see what other representatives have communicated.
<me> : Now I am very confused and as overnighting for delivery monday is not inexpensive I need to be certain where to send the new ballots to so I am able to grant releases and have stock issued in the new company
<me>: Please take your time,.
Thomas Hartley: I see a representative yesterday informed you about sending some of the ballots to a New York address. According to his notes, he got the information from our back office. I cannot confirm this because our back office is not in today. I apologize for any confusion.
In general, a New York addresses was not communicated to us, and Fidelity sent a follow up communication to shareholders around January 26 stating the KY address for all ballots.
<me>: What time on Monday does the back office open?
Thomas Hartley: Allow me a moment to check.
Thomas Hartley: They are open starting 8:30 a.m. Eastern.
<end of chat>
Unfortunately there is no branch near me that I can get to during the week and they are closed on weekends, I am doing an online chat with Fidelity to get the *correct* address to send them to so I have it *straight for the horses mouth* the agent gave ma website from fidelity to print the ballots and just gave me the overnight address which is the same address I sent all three classes to!!!
<fidelity rep> The KY address for the ballots is only slightly different than our standard overnight. Here is the overnight address you can use for the ballots:
National Financial Services
100 Crosby Parkway
Covington KY 41015
Attn: Mail Zone KC1I
<me> That address is for ALL classes of ballots?
<fidelity rep>: That is correct.
So now I'm questioning him.
What has me FRUSTRATED is Monday night when I checked if it was going to be a problem that they al went to the KY address I was told it was not,
The priority mail postage was 15. Now it looks like I'm going to have to go to Fed-Ex office and print new ballots and Fed-Ex it so it arrives hopefully Monday but most likely Tuesday because of where I am and where the nearest location is,
You mean since they found my common ballots, I'm hoping they did not discard my preferred ballots.
Need answer fast-For those with holdings at Fidelity what was the deadline?
I erroneously sent ballots for all three classes in one envelope to the KY address via priority mail. When I noticed only one class was locked I contacted Fidelity by chat and they said it was fine that all were in one envelope.
I know they received it Wed so today I called and was not able to stay on hold long enough to get a reply after being put on hold a few times and when I came home I had this message waiting for me.
Kevin I need Ballots Emailed to me for the WAMPQ and WANKQ shares
--- Original Message --- From:Fidelity To:<me> Topic: Subject:RE: Follow up about WAMU ballots. <<#<>#>> Date:02/03/2012 06:55 PM EST Attachments:
Dear Mr. Levy:
This is the follow up to our chat conversation yesterday (February 2nd, 2012) about your recently submitted WAMU ballots. In reviewing your account, I see that you did call in today, and spoke with a representative over the phone. At this time, the representative explained that we have only received (and been able to update) one of the three ballots to date. This was the ballot for the common shares (which is the stock currently without a trading symbol, or CUSIP 9393IN969).
In addition, the representative did contact our back office and discovered the two ballots that represent preferred shares (WAMPQ and WANKQ) needed to be sent to the Liberty St address in New York. This address is as follows:
National Financial Services, LLC
200 Liberty Street, 5th Floor
Voluntary Reorganization Department
New York, NY 10281
It also appears that this representative tried to call you back to let you know this, but received a busy signal. However, it is also stated that they will continue to try and contact you today to relay this information. I do apologize for any inconvenience this may cause.
If you have further questions, please send us another message anytime. You can also contact a Fidelity representative 24 hours a day, 7 days a week, at 800-544-6666. Have a fabulous weekend!
Sincerely,
Kevin Kopp
Fidelity Brokerage Services LLC, Member NYSE, SIPC
I remember being given
Attn: Mail Zone KC1l
National Financial Services LLC
100 Crosby Parkway
Covington, Kentucky 41015
as the address for overnight mail and
National Financial Services LLC
P.O. Box 770001
Cincinnati, Ohio 45277
as the normal 1st class mail address. I don't recall being given the
Attn: Voluntary Reorganization Dept.
National Financial Services LLC
One World Financial Tower
5th Floor
200 Liberty St.
New York, NY 10281
address for my preffered stock so I sent everything in one big envelope to the Covington KY address
I'm an idiot and sent my UQ PQ and KQ from Fidelity all to the same address. I sent it priority mail and it should arrive tomorrow or wed. Amyone know if I should be worrying?
Super simple stupid question but I can't think right now.
If I have WAMUQ, WAMPQ and WAMKQ with one brokerage am I supposed to receive three ballots or two?
I just received 3 mails from Scottrade
They all basically say the same but the heading is different
Non-Mandatory/Reorg Tender - WAMKQ
Re. stock symbol / cusip - WAMKQ / 939322830:
The above-listed stock is part of a non-mandatory reorganization or tender offer, which currently expires on 02/06/2012.
Where to find more information:
For offers initiated by the company, information can often be found on the company's Web site.
If the offer was initiated by a third party, additional information can be obtained by contacting your local branch office.
For mini-tender offers, the US Securities and Exchange Commission has urged caution. To review an SEC educational piece entitled "Mini-Tender Offers: Tips for Investors," please go to http://www.sec.gov/investor/pubs/minitend.htm
If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date listed above, and a $25 fee will be charged to your account. These shares must then remain in your account until the reorg/tender takes place. Please note that the expiration date for such actions is often extended and terms of the offer are subject to change.
Scottrade is not endorsing or recommending the offer, and the terms have not been reviewed to determine if accepting the offer would be in your best interest. If you do not wish to participate in this offer, notification is not required and Scottrade will take no action on your behalf.
Branch Manager
Scottrade, Inc.
1 Route 37 W, Suite 16
Toms River , NJ 8753 - 6500
Phone: (732) 240-6844
Toll Free: (877) 819-1980
Fax: (732) 240-6866
Also for Re. stock symbol / cusip - WAMUQ / 939322103:
and for Re. stock symbol / cusip - WAMPQ / 939322814:
I assume this is for the releases and plan approval
Fidelity only sent me one ballot!
I received a packet today with a copy of the disclosure statement, a cd some letters from various committees and a green Beneficial Ballot for class 22.
I'm (serious) when I say I'm confused. I have an IRA with the following holdings WAMKQ WAMPQ and WAMUQ
There was NOTHING in the packet on where to return my ballot.
I'm going to call Fidelity in the AM but I need to know what to say.
Last night I emailed Scottrade.
Today I recieved a response that said at this time Scottrade is working to confirm the bankruptcy voting/election information with the company. As soon as the information is provided to Scottrade, we can share the information with you.
For the most up to date informatiom, feel free to conact Washington Mutual's Investor Relations.
-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-*-
Since I can't access my Scottrade account from work I have to wait until I am home tonight and I will reply to them with the contact info for Kurtzman.
I'm not the best person to explain this so I'm going to repost http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64148021
<start of his post>
Even past PORs stated that the plan was to exit Bankruptcy and Merge.
I think that's not so secret of a plan.
It's really the only way to take a $160m company into something that can begin to (pick your number) exploit a $5b, $17b, or whatever NOL.
But, there are IRS regs that prevent just being bought out by, say, pick something -- Exxon. That's considered "shopping a NOL".
There must be a plausible increase in business, and in a related field. So we should expect to merge with another similarly sized company - IN THE RELATED FIELD, stabilizing the merger, then merge again (double sized now), etc.
You just can't merge with a huge company day 1 just to use up the NOLs... forbidden by regulations.
The math is simple, but it takes a bit to merge, rinse, repeat -- all to keep the NOLs intact.... as I understand it.
<end of his post>
Wamunut said "Walmart was looking to get into the banking business.. With the NOL's and there revenue they would be a perfect fit! They are sitting on alot of cash!"
True but they would not be able to use our NOL's because they are much too big.
Fsshon, when your say "I expect these numbers after the first 1Q SEC filing post emergence. As we continue forward with future earning potential we could see $100 on the NYSE.
We will be there real quick.. i.e. Stock Structure should put us there by EOY."
Are you talking about 12/31/11 or 12/31/12?
I'm hoping that Tuesday gives us some positive news and I hope that we all can keep our long term status.
I'm hoping the twins are a positive sign for us and the parents.
If common's shares in WAMUQ are replaced with shares in a new ticker symbol and you decide to sell at that point would it then be considered a short term investment?
I had a dream last night.
In the dream our judge did not approve of the the HF's appeal but they continued it away, Then before the appeal decision was announced our judge made an announcement that she was was reversing her decision that the GSA was fair and reasonable on the grounds that a party to the design of the GSA did not take reasonable care while designing the GSA.
And di you have idea what their reason for appeal is?
Notice Of Appeal by Normandy Hill...
Did anyone else get a mailing today from Wombale Carlyle Sandridge & Ride regarding an appeal? I can't tell from my copy why they believe they have cause to file.
Well since I don't have marginable stocks I am basically forced to be locked. I did unload some bonds from my IRA and use that proceeds for a few P's and U's. I'm not too upset that they closed lower than I paid because at least I have them.
Pennystockrider you said "WAMUQ charts or any stock charts are very important for all stocks pennies included.ALL investors would no charts help to see trends and volume levels of any stock for any one who saids charts are not important i total disagree.News is very important to set these trends and volume levels but to say charts are not important is a false statement i believe.THIS is only my oppinion but i believe this stock will trade sideways to down and this bankruptcy will be a long process.I THINK this stock could fall back to .07 levels."
I agree with your statement to a degree. Trends are important to evaluate the past to see how the future may turn out and that this bankruptcy will be a long process.
However we are near the end of the process. Prior to the change of heart of the SNH's we were heading to a June hearing of Reorganization Plan 7 which was going to wipe out equity and give the carcass to the SNH and Hedge Firms to turn into a new company that could be quite profitable for them but none of the existing share holders would see anything.
However that has changed and we are now poised to go down the path that will allow us to exit BK with equity intact.
Is 1337 a sign It's LEET speak
If S&G are doing the work for us that 25M is more than enough as most cases are taken on contingency and I would like to think that S&G would like to have a shot at BR & WGM & JPM
Sorry if this was posted already but I can only read this site on my breaks.
The Huffington Post has an article http://www.huffingtonpost.com/2011/04/13/jpmorgan-chase-profit-sur_n_848529.html about JPM Chase's huge profit written by Shahien Nasiripour contact info is at the bottom of the article.
Can someone articulate please contact this writer and bring him up to speed on us.
If you are serious, I will buy the stocks from your for a total of $30.00 email address is comming
Excuse me for being dense but it seems to me that those who had a hand at drafting the other reorganization plans are opposing this one.
Do I have that right?
The Noteholders?
What is the deadline to send the objection again and to what parties must it be sent to?
That was quick. I mailed it Monday.
I understand that WithCatz has posted his view as to what the phrase far, and reasonable means in the court of law but I believe that "fair and reasonable" a single term means something other than "fair, and reasonable" (two terms)
I could be (and most likely am) wrong but I still had to submit my point of view to the court.
This letter was mailed earlier today. Formatting is messed up here but looks right on paper.
Dear Honorable Judge Mary Walrath:
I am a stockholder in Washington Mutual Incorporated and have a concern that I wanted to bring to the courts attention.
I have no legal background which may explain why I am confused. Dictionary.com defines the word fair as “free from bias, dishonesty, or injustice: a fair decision; a fair judge. “ and the word reasonable is defined as “agreeable to reason or sound judgment; logical: a reasonable choice for chairman. “
Previously as I understand it you made a statement based on the information that you had that the GSA met the requirements that it was fair and reasonable. I humbly ask that you reconsider that decision based on the information in Docket #6805 filed 2/25/2001 by the Debtors Washington Mutual INC. Specify item 18 on page 8 where it is admitted that “18. EY LLP's services are necessary and will substantially enhance the Debtors' efforts to comply with governing accounting and reporting requirements. During the course of their chapter 11 cases, the Debtors did not employ or retain any accounting or auditing firms.” (bolding and underlining mine)
If there has been no auditing done how can any of the statements made regarding the value of the estate bee accurate? It is extremely possible that with a full and complete valuation performed the facts could show that the estate’s assets are greater than our liabilities and that a graceful exit from bankruptcy can be made without causing any class of shareholder to cancelled.
I would appreciate it if the court put any further discussion of restructuring the company, sale of the assets or any other action that could impair equity until EY is able to do a full and complete audit of WMI and their subsidiaries and a list is provided of what JP Morgan Chase obtained in their purchase offer. I believe that would be fair and reasonable to both estate creditors and equity.
Sincerely,
<me>
Excuse me for being dense here and someone may have brought this up by now but if this is correct
"7. Although Second and Union was an indirect subsidiary of WMI prior to the seizure of WMB, Second and Union was a direct subsidiary ofWMB and the interests therein were acquired by JPMC as a result of the P&A Agreement. Based upon the foregoing, it is clear that Second and Union has never been a part of either of the Debtor's estate"
Then doesn't JPM/Chase have what is missing as the schriver's error I believe it was 6.1