is I like stocks
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Good morning people, jhd I should have sold the last 50+ pps but! I guess I avoided my”never fall in love with a stock or for a few bucks more got greedy on my freebies , that won’t happen this time around and I will hold 100/200 shs as I do with some stocks to keep in the game and never worry if it goes higher or lower, cuzzz dat shet will drive you nutzzzz lol. It’s just lesser profits and life issss good no matter
As for the IFFEN, I WON’T/DON’T SWEAT IT,EOS….
GoGooooooCOOP
GLTA- Hitting the gym earlier today ,the boss wants to go shopping, guest coming this weekend for a barbecue
Ts
Well it’s getting a little closer to my 50. Sell while keeping just around 1-200 shs and selling the rest
As for who is right and who was/is wrong trilogy for what seems like eons or the hero or zero, me I’m for making monies and have done well over the years throughout the transitions here , my first and last BK I will take the 50 pps this time round and thank you very much as there is good cheap stocks out there now ,sooooo GOGOOOOO COOP
GLTA-Ts
FYI: Blackstone made billions going all-in on European warehouses before prices surged — and might've doubled its money in just 5 years Blackstone made a killing on a less glitzy corner of the commercial property market.
According to Bloomberg, the PE giant made big bets on urban warehouses across Europe starting in 2017.
Using granular, property-level data, the strategy may have doubled investors' money by 2022.
Blackstone may have doubled its money by investing in a corner of the commercial real estate market that gets less attention than massive high rises or glitzy retail.
Bloomberg's Jack Sidders writes that the private equity giant bet big on warehouses across Europe, particularly smaller, grittier urban facilities off the beaten path but which are crucial points in the delivery process known as the "last mile." Starting in 2017, Blackstone started snapping up these properties in a wave of dealmaking that saw the firm sometimes transacting in much smaller amounts than it was known for.
At one point, Bloomberg writes, Blackstone bought a warehouse from a family-owned business in Dublin, Ireland, for 1 million euros, the tiniest real estate deal ever approved by the firm's investment committee.
It made 220 deals for warehouses in its real estate funds, most of which were fairly small by Wall Street standards. According to Bloomberg, the return on these investments was wild. In the five years since it embarked on the strategy, which Blackstone's head of real estate Jon Gray called the firm's "highest conviction strategy," demand for warehouses soared.
This was only accelerated by the pandemic, which saw more and more people working remotely, doing shopping online, and boosting the value of these industrial properties while other commercial real estate sectors like offices languished.
All told, Bloomberg reports that publicly available info points to a gain of about 5 billion euros after paying off the debt used to acquire the properties, doubling the money of investors who cashed out of the firm's fifth and sixth European fund offerings in 2022.
Story continues
https://ca.finance.yahoo.com/news/blackstone-made-billions-going-european-011217569.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAI_G-8SLN7EI5tD4YcsNk3GHQcTbqJmRgKe0AyxiYh5dwVdZOcflu3dc87HCHwtIJS7IOumdysnQ6D7qmkoHIXPKHTT5MzQnZx7wz_7MrpWjupi-y1rROphNJF4dMSMwIryUQcRHg11bBMj-CafXhE6JA_60q6_PlhAXbT-Vm6II
G0G0000000coop/ Mannnnn that $50.00 Number is surely getting close n temping
Have a great day, people
GLTA-Ts
Good morning people: jhd I have often posted “Big monies DONT like to part with big money ,you have to pry it from their dead cold hands (IFFEN) ,after all these years IT MIGHT BE BURIED SO DEEP , good luck with that IMHO
GOGOOOOOOCOOP
GLTA-Ts
JnJ https://www.xxxx.com.au/agegate/ j/k -)
COOP 47.34 -0.48Vol 46,455.5
Take care
GoGooooooCOOP
GLTA-Ts
Good morning people, Picks ; Arrrrh something besides the norm static I can agree with, now for ole cactus # 6 might fit lol
https://www.cyberdefinitions.com/definitions/XXXX.html
GoGooooooCOOP
Have a great day people, time to hit the gym and pay for the weekend
GLTA-Ts
Let’s do simple math $5,000/10,000 in return a few yrs (maybe)later a check in the mail arrives for $ 289.99 if where lucky, let me mull this over hmmm? Nope , I prefer to be in that 99% old group here and keep my profits in COOP going well at no cost EOS.
GOTTA RUN THE BOSS IS CALLING heheh
It’s nice nice outside to be inside
GoGooooooCOOP
GLTA-Ts
Good morning people: Freddy Yes there is logic in mostly of what you posted, I myself have for a very long time now have concentrated on COOP only and do always say IFFEN when to topic of monies being returned when yea’s or the naysayers posts all of the same , just as you also continue to do, so yes it’s on on going topic for a lot of posters on either side of the fence
GoGooooooCOOP
Oh well time to hit gym, Have a great day people
GLTA-Ts
EOD + .69
GoGooooooCOOP
GLTA-Ts
Good morning people I hope all had enjoyable few days with loved one and friends and remembering the reason we can. Now comes watching the drying paint once again along with the same posters on both sides saying the same ole ,same ole , as for me IFFEN while my banked shs of COOP WILL HANG TILL EOY
GoGooooooCOOP
GLTA-Ts
Good morning people , FYI. the last Q (2022)for Home Point Capital Inc. (HMPT) was really nothing ,including shs trading vol.
Date Open High Low Close* Adj Close** Volume
Dec 30, 2022 1.3700 1.4000 1.2350 1.3700 1.3700 42,300
Dec 29, 2022 1.3100 1.4300 1.3100 1.4050 1.4050 32,200
Dec 28, 2022 1.2700 1.3900 1.2700 1.3500 1.3500 31,900
Dec 27, 2022 1.3000 1.3200 1.2600 1.3000 1.3000 24,000
Dec 23, 2022 1.2900 1.3300 1.2700 1.2800 1.2800 16,100
Dec 22, 2022 1.3200 1.3600 1.2400 1.3200 1.3200 30,900
Dec 21, 2022 1.2000 1.3500 1.1650 1.3500 1.3500 54,800
Dec 20, 2022 1.0600 1.2300 1.0300 1.1700 1.1700 83,300
Dec 19, 2022 1.0100 1.0600 1.0000 1.0100 1.0100 79,800
Dec 16, 2022 1.1100 1.1200 0.9900 0.9900 0.9900 203,500
Dec 15, 2022 1.1800 1.2200 1.1300 1.1500 1.1500 55,100
Dec 14, 2022 1.2500 1.3400 1.2100 1.2200 1.2200 17,800
Dec 13, 2022 1.3900 1.3900 1.1100 1.2400 1.2400 67,700
Dec 12, 2022 1.3200 1.3200 1.2500 1.2500 1.2500 20,500
Dec 09, 2022 1.4110 1.4800 1.2800 1.3300 1.3300 25,600
Dec 08, 2022 1.2900 1.3800 1.2800 1.3400 1.3400 26,000
Dec 07, 2022 1.3560 1.3700 1.2900 1.2900 1.2900 37,000
Dec 06, 2022 1.4600 1.5000 1.3600 1.3600 1.3600 20,200
Dec 05, 2022 1.4600 1.6600 1.4500 1.4500 1.4500 30,600
Dec 02, 2022 1.5000 1.5750 1.4600 1.4600 1.4600 20,500
Dec 01, 2022 1.6100 1.6350 1.5000 1.5200 1.5200 61,600
Nov 30, 2022 1.5800 1.6630 1.5800 1.5800 1.5800 16,600
Nov 29, 2022 1.6000 1.6200 1.5800 1.5800 1.5800 9,900
Nov 28, 2022 1.6200 1.7400 1.5700 1.6300 1.6300 22,300
Nov 25, 2022 1.7200 1.7300 1.5800 1.6000 1.6000 9,500
Nov 23, 2022 1.7500 1.8000 1.6500 1.7100 1.7100 22,200
Nov 22, 2022 1.7000 1.7800 1.4500 1.7300 1.7300 70,700
Nov 21, 2022 1.7600 1.9700 1.7000 1.7000 1.7000 28,600
Nov 18, 2022 1.8500 1.8700 1.7500 1.7500 1.7500 18,300
Nov 17, 2022 1.7900 1.8500 1.7700 1.7700 1.7700 3,000
Nov 16, 2022 1.6800 1.8400 1.6800 1.7800 1.7800 11,100
Nov 15, 2022 1.8300 1.8700 1.7500 1.8000 1.8000 15,200
Nov 14, 2022 1.8600 1.8650 1.7100 1.8300 1.8300 23,300
Nov 11, 2022 1.6700 1.8900 1.6700 1.7800 1.7800 32,900
Nov 10, 2022 1.5000 1.6500 1.4200 1.6400 1.6400 22,900
Nov 09, 2022 1.6900 1.7080 1.5100 1.5100 1.5100 11,300
Nov 08, 2022 1.6700 1.6700 1.6300 1.6300 1.6300 9,500
Nov 07, 2022 1.5900 1.6840 1.5400 1.5900 1.5900 42,200
Nov 04, 2022 1.7000 1.8200 1.5100 1.5600 1.5600 43,700
Nov 03, 2022 1.7900 1.7900 1.6260 1.6700 1.6700 9,800
Nov 02, 2022 1.8400 1.8400 1.6800 1.7100 1.7100 15,800
Nov 01, 2022 1.7500 1.8400 1.6600 1.6600 1.6600 47,200
Oct 31, 2022 1.8200 1.8300 1.6780 1.7400 1.7400 7,800
Oct 28, 2022 1.6900 1.8200 1.6700 1.8200 1.8200 35,100
Oct 27, 2022 1.7000 1.7440 1.6200 1.7000 1.7000 9,900
Oct 26, 2022 1.7000 1.7450 1.6800 1.7100 1.7100 8,600
Oct 25, 2022 1.5750 1.6700 1.5750 1.6700 1.6700 26,200
Oct 24, 2022 1.5600 1.6500 1.4100 1.5600 1.5600 73,800
Oct 21, 2022 1.6600 1.6600 1.5700 1.6500 1.6500 18,100
Oct 20, 2022 1.6100 1.6690 1.5600 1.5900 1.5900 19,300
Oct 19, 2022 1.6200 1.6680 1.5800 1.6300 1.6300 42,600
Oct 18, 2022 1.6200 1.6300 1.6000 1.6200 1.6200 15,000
Oct 17, 2022 1.7500 1.8000 1.5800 1.6200 1.6200 49,900
Oct 14, 2022 1.7070 1.7800 1.6600 1.7700 1.7700 18,500
Oct 13, 2022 1.6900 1.8000 1.6500 1.6600 1.6600 26,700
Oct 12, 2022 1.7000 1.7300 1.6300 1.7100 1.7100 29,700
Oct 11, 2022 1.7100 1.8800 1.6650 1.7400 1.7400 33,900
Oct 10, 2022 1.7700 1.8000 1.6700 1.7700 1.7700 30,900
Oct 07, 2022 1.7400 1.8400 1.6750 1.7400 1.7400 19,400
Oct 06, 2022 1.5600 1.9500 1.5500 1.7500 1.7500 33,600
Oct 05, 2022 1.4600 1.5800 1.4000 1.5700 1.5700 63,600
Oct 04, 2022 1.4000 1.4220 1.3600 1.3600 1.3600 81,800
Oct 03, 2022 1.5300 1.5300 1.3600 1.3800 1.3800 61,900
———————————-
GoGooooooCOOP
GLTA
THANXS TO ALL VETS , THEN, NOW AND FUTURE-Ts
Good morning people; So the price range for the tender offer amounts to $2.33 per shs= $308 million to $351 million ,Ballpark Page 37, speed reading as very busy four days , guest and relatives coming over
Gogooooo COOP
Have a great day people
GLTA-Ts
Picks; Oops there’s that mannnnn CRUSH AGAIN , hey NBD , just admit it , this way you will free ur self ,woww u got I baaaaad lol if I had to guess 33% of ur post are about ole cactus hehehe check it
here watch this great song and words ,just replace the girl part with a man
GoGooooooCOOP
GLTA -Ts
Good morning people, The Fed Has a New Scandal on Its Hands: Colluding with Central Banks to Rig Libor; Evidence Is Being Tweeted Out
By Pam Martens and Russ Martens: May 23, 2023 ~
https://wallstreetonparade.com/2023/05/the-fed-has-a-new-scandal-on-its-hands-colluding-with-central-banks-to-rig-libor-evidence-is-being-tweeted-out/
Thanks goes to hold2wm on BP site
GoGooooooCOOP
It’s too nice outside to be inside GLTA-Ts
Yada,yada yada,The same ole, same ole , is it live or memorex lol
GoGooooooCOOP
GLTA-Ts
Good morning people; jhdf51 The only way(IFFEN) there would be a share thing in COOP it would have to come by way of preferred shares (again IFFEN ) as for any monies return I just don't/can't believe the amounts. monies that are being thrown around here and the BP. site, let alone the silence of (IFFEN) Hey don't get me wrong I would be extremely happy as would my family lol. and a few charities But !!!!!
GoGoooooCOOP
GLTA-Its too nice outside to be inside, time to open the pool Ts
JWW, It would seem as history would acknowledge that Barclays is the wise ole owl of this group in ref to COOP hehehe
GoGooooooCOOP
Have a great weekend people
GLTA-TGIF BABEEEEE -Ts
Nice move on COOP avenue today , will be interesting to see what happens tomorrow
GoGooooooCOOP
GLTA-Ts
FYI May 17 (Reuters) - Charles Schwab Corp is looking to raise $2.5 billion in long-term debt, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The financial services firm will issue $1.2 billion in debt due in 2029 and $1.3 billion due in 2034, the report added.
The company declined to comment on the matter.
Charles Schwab said it intends to use the net proceeds for "general corporate purposes", and did not disclose the pricing for the offering in its filing with the U.S. Securities and Exchange Commission.
Shares of the company, which have lost about 38% of their value so far this year, fell 1.5% in extended trading.
BofA Securities, Citigroup, Credit Suisse, Goldman Sachs & Co. LLC, J.P. Morgan and Wells Fargo Securities are the joint book-running managers for the offering. (Reporting by Manya Saini in Bengaluru Editing by Vinay Dwivedi)
GOGOOOOOOCOOP
GLTA-Ts
Good morning people, Freddie some say the truth hurts or that the truth will set you free, I will leave those sayings to the person/s to choose of their own one, but it isssss not the Messinger you want to shoot UNLESS you constantly repeat the message like the Memorex commercial of years ago (no one wants to constantly hear/read bad news over and over again IFFEN IT ISSSS) lol
GogoooooCOOP
Have a great day people , as its to nice outside to be inside
GLTA-Ts
FYI, If you look at the Bloomberg Economic Surprise monitor, housing is the strongest category relative to expectations.spoke about the hot housing market last week on an episode of the podcast with Ali Wolf, the Chief Economist at Zonda. Along with the episode, Ali sent us over a bunch of charts from her own data, including this one which mentions that a third of builders are concerned about their own credit conditions, and possible constraints they may face when it comes to meeting the market.
Despite higher rates, and the collapse of multiple banks, there's scant evidence of a major collapse in credit availability. Things seem to be tightening, but so far not dramatically. Nonetheless, this speaks to some of the perverse effects of rate hikes. In theory, they cool demand. And maybe they're doing that. But they also play a role in supply. And reducing the number of new homes that get built, because at the margin some builders have less access to financing, doesn't really help anyone.
https://assets.bwbx.io/images/users/iqjWHBFdfxIU/ipXM7spRj4xo/v0/-1x-1.png
Follow Bloomberg's
————————————-
FYI.
Charles Schwab: Another 13.6 Billion Reasons To Be Bullish
May 15, 2023 12:15 PM ETThe Charles Schwab Corporation (SCHW)23
The management team at The Charles Schwab Corporation announced some rather interesting data for the month of April.
The company saw net inflows of client assets as well as other impressive financial changes.
These data points give investors additional reason to be bullish about the business moving forward.
Looking for a helping hand in the market? Members of Crude Value Insights get exclusive ideas and guidance to navigate any climate.
One of the nine companies that I currently own shares in is The Charles Schwab Corporation (NYSE:SCHW). As of this writing, the company is my smallest holding, making up only 4.1% of my portfolio. But that doesn't mean that I don't have a tremendous amount of faith in it.
Earlier this year, because of the banking crisis, the business came into focus and some investors had doubts about the stability of the enterprise. But given the nature of the operation, how diverse its business model is, and relying on data that has come out since then, I have been incredibly bullish. And on May 12th, the management team at the company revealed even more reasons why investors should be optimistic about the firm moving forward.
Solid data
The past couple of months have been really hard for shareholders of Charles Schwab from a share price perspective. Since the end of February, which was right before the banking crisis began, shares of the enterprise have fallen 37.2%. That's a massive decline and underscores just how worried about the business investors and market watchers are. But at the end of the day, it's not the concern that investors have that matters. Rather, it's the data that is reported by management that ultimately determines how things are going. And when that data is solid, investors should use the low share price of the business as an opportunity to buy in or to increase their stake in the company.
The most recent data provided by management that is noteworthy came out on May 12th. This was in the form of the monthly activity report that management comes out with every month. At top of mind, at least for me, was the account data provided by management. During April, the company reported an additional 331,000 brokerage accounts being opened on its platform. This falls nicely in the typical range for the company over the past several months. For context, this number in March was 378,000. Back in April of last year, it totaled 386,000. For those worried that the most recent reading might indicate a weakening in the company's value proposition, keep in mind that, from April of last year through April of this year, 9 different months had new brokerage account additions lower than what the company achieved last month.
Actual active brokerage accounts were a slightly different story. This number also rose, but the increase was less than the 331,000 reported. For the month, the company had 34.25 million active brokerage accounts on its platform. This was 128,000 above what it was in March of last year and represented an increase of 489,000 compared to April 2022. In fact, the number reported for April was the highest on record for the company. No matter how you stack it, that's a positive outcome for shareholders. The number of banking accounts for the company also hit a high of just under 1.76 million. That compares to the 1.75 million reported one month earlier and the 1.65 million reported in April of last year. It's also worth noting that the company recorded 530,700 customers receiving what management calls "investor services" during the month. That's up from the 526,200 seen one month earlier and compares nicely to the 509,300 reported in April of last year. Meanwhile, the number receiving 'advisor services' grew to 3.39 million. This number was 3.37 million one month earlier and stood at 3.19 million in April of 2022.
We should shift some at this point to the assets the company holds. There are two different measures of changes to the assets on the company's books. The first and more volatile is what management calls new market gains or losses. This is largely associated with returns or losses experienced in accounts based on fluctuating security prices. In April, this was only $37.9 billion. But considering this number fluctuates significantly with market conditions, I don't have any qualms on this.
More important in my eyes would be the net new assets they have come onto the platform. After a massive haul of $72.9 billion in the month of March, the company experienced a net inflow of $13.6 billion in April. While this is smaller than the typical $20 billion to $50 billion that the company historically achieves, it's not unexpected. In fact, in April of last year, the company saw a net outflow of $9.2 billion. Management attributes the weakness in the month of April to its clients taking out capital in order to pay taxes. This makes a tremendous amount of sense. There is a separate measure of this called core net new assets. This basically adjusts for large acquisitions and other one-time events. The company unfortunately did see a net outflow of $2.3 billion for the month. But again, that was better than the $9.2 billion in outflow reported one year earlier.
Although some investors will point out the declining bank account figures, I would argue that, on the whole, The Charles Schwab Corporation is doing really well for itself. The total value of its assets came in at $7.63 trillion for the month of April. This was up nicely from the $7.58 trillion reported in March, and it's up from those $7.28 billion reported for April of last year. Almost all The Charles Schwab Corporation metrics that matter are continuing to grow and, I would argue, the business is healthier than it was even a year ago.
Given how this data looks and how much shares have fallen in recent weeks, I cannot help but rate The Charles Schwab Corporation a "strong buy." I likely will use some incoming capital to increase my stake in the company a bit more.
Crude Value Insights offers you an investing service and community focused on oil and natural gas. We focus on cash flow and the companies that generate it, leading to value and growth prospects with real potential.
https://seekingalpha.com/article/4604619-charles-schwab-another-13-6-billion-reasons-to-be-bullish
GoGooooooCOOP
GLTA-Ts
Good morning people, jhd what’s left to say/post except for the bickering on the where,who and how much has been worn out and next is a picture of a old dried up mining town , truly what is left is the PPS of COOP, to watch now and then IFFEN you are truly a shareholder as I am EOS
GOGOOOOOOCOOP
GLTA-Ts
Good morning people , Item 8.01.on page 4 of 12 ( Nationstar Mortgage LLC. of Del.
GoGooooooCOOP
GLTA-Ts
jhd51, Well I do believe that Bus, Train, Plane has left the station for the 1st class tickets, but there is still room for the economy class tickets AIMHO.
GOGOOOOOOCOOP
GLTA-Ts
Good morning people, I want to say one thing and one thing only about Ole Cactus, he was right about one thangggg , there was monies to be made with this paper COOP and some did, Now this childless BS’ing continue because a lot of posters got nothing better to do it seems , I know when I got nothing better to do I come here incase IFFEN happens or I have more monies in play because of COOPS pps elevators RIDES besides my banked shs, NOW AS FOR THE REPETITIVE ONE’s, welllllll that’s children playing he said she said EOS.
GoGooooooCOOP
Life is good ,so enjoy
GLTA-Ts
A blast from the past , WASHINGTON MUTUAL BANK - Receivership Balance Sheet
https://receivership.fdic.gov/drripbal/bank/10015?FIN=10015
This is from BP site and Thanxs goes to HSGWSWAMU26YEARS
It’s to nice outside to be inside
GoGooooooCOOP GLTA-Ts
FYI. Reuters) - Canada’s Toronto-Dominion Bank Group on Thursday called off its $13.4 billion takeover of First Horizon Corp, triggering a near 40% fall in the U.S. regional bank’s shares. First Horizon and TD said in a statement they had mutually decided to end the deal because there was no clarity on when they would get regulatory approvals.
TD will pay $200 million to First Horizon, in addition to a $25 million fee reimbursement.
TD’s biggest deal to date, which it launched more than a year ago, had faced months of regulatory uncertainty and Canada’s No. 2 lender came under pressure from some investors to scrap the purchase after the U.S. regional banking crisis.
A spokesperson for First Horizon said the termination was solely related to TD, which was unable to get approvals, and had nothing to do with ongoing banking turmoil.
First Horizon CEO Brian Jordan told investors that TD informed the U.S. bank that they “could not provide an updated timeline for an extension and they could not produce assurance of regulatory approval in 2023 of 2024.”
TD declined to comment beyond the press release.
“We are surprised that the parties could not come to an agreed upon lower price and believe that there could be broader repercussions from walking away,” Barclays analyst John Aiken said.
This could affect the willingness of potential partners to sit across the table from TD in the future,” Aiken added.
TD agreed to buy First Horizon in February last year in a deal it said at the time would have made it the sixth-largest U.S. bank, raising its position from No. 8, with about $614 billion in assets and operating in 22 states.
The Canadian bank also has a stake in Charles Schwab, making it one of the most exposed to U.S. markets, and its First Horizon u-turn leaves its U.S. strategy in limbo.
“We believe TD shareholders will be concerned about the bank’s ability to deploy excess capital into the U.S. market given regulatory headwinds that could persist for the foreseeable future,” KBW analyst Mike Rizvanovic said.
The collapse of the deal further spooked already shaky sentiment towards U.S. regional banks. Three have collapsed since February after a deposit flight spiraled out of control.
The latest was First Republic Bank, which was taken over by regulators who then sold its assets to JPMorgan Chase & Co earlier this week.
Average deposits at First Horizon fell 4% to $62.2 billion in the first quarter, compared to the end of last year.
Graphic: First Horizon's wild ride since deal offer - here
TD, which acquired New York-based boutique investment bank Cowen Inc for $1.3 billion this year, was also in the running for BNP Paribas’ U.S. unit, Bank of the West, but later lost that bid to peer Bank of Montreal.
ORTEX said on Thursday that TD was still the world’s most shorted banking stock, confirming its position early last month.
Reporting by Niket Nishant in Bengaluru; Editing by Savio D’Souza, Nivedita Bhattacharjee, Anil D’Silva and Alexander Smith
Ts
This pps thanggggg should be nothing new ,it has been going on for what seems like forever, you either play the currents and ride the waves and bank the curls , sitting on the sidelines does nothing for the time complaining ( one must remember NSM’s past as I have been saying for a long time now),as for me I’m waiting to play this game again and gain whichever way it goes, the gift that keeps on giving ,GoGooooooCOOP
Life is goooood
GLTA-Ts
Good morning people FYI PacWest confirms strategic options talks after US bank shares plunge
May 3 (Reuters) - PacWest Bancorp (PACW.O) said late on Wednesday it was in talks with potential partners and investors about strategic options after shares of the Los Angeles-based lender and several other U.S. regional banks tumbled amid fears of a worsening banking crisis.
In a statement, PacWest said it had not experienced any unusual deposit outflows since the sale of First Republic Bank to JPMorgan Chase & Co (JPM.N) was announced on Monday
The planned sale of its $2.7 billion lender finance loan portfolio remained on track and once completed would increase its common equity tier one ratio from 9.21% to at least 10%, the bank added.
"In accordance with normal practices the company and its board of directors continuously review strategic options," PacWest said.
"Recently, the company has been approached by several potential partners and investors - discussions are ongoing. The company will continue to evaluate all options to maximize shareholder value," it added.
GLTA-Ts
CWG FYI.
The DTCC’s user-owners include: Citigroup, BNP Paribas, JP Morgan, State Street, UBS, Goldman Sachs, Morgan Stanley, Virtu, Barclays, BNY Mellon, Bank of America.
GLTA-Ts
A little FYI. if you haven't already
https://imgur.com/a/SUkVguK
GLTA-Ts
Good morning people, Strike, Rodger that when I was a child I use to watch in the early years of T.V. The Amos and Andy show and in one of the episodes King Fish is trying to sell Andy an INVISIBLE CAR and his sales pitch was that Andy could PARK THE CAR ANYWHERE AND NOT GET A TICKET AND HOW SILENT THE ENGINE WAZZZZ, reminds me of this so called monies , aka. It’s ours ,it’s. lot , but it can’t be seen , it’s parked somewhere, YIKES its like the song “if you’ll believe that I got some waterfront property in Arizona (or ole cactus has some waterfront property) ;-:
GoGooooooCOOP
GLTA-Ts
Loooow wake up->FYI post-Fire Sale: $300 Million San Francisco Office Tower, Mostly Empty. Open to Offers.
350 California Street was worth $300 million four years ago. It might sell for 80% less now, brokers say, in a market where office vacancy rates have soared.
Before the pandemic, San Francisco’s California Street was home to some of the world’s most valuable commercial real estate. The corridor runs through the heart of the city’s financial district and is lined with offices for banks and other companies that help fuel the global tech economy.
One building, a 22-story glass and stone tower at 350 California Street, was worth around $300 million in 2019, according to office broker estimates.
That building now is for sale, with bids due soon. They are expected to come in at about $60 million, commercial real-estate brokers say. That’s an 80% decline in value in just four years.
This is how dire things have become in San Francisco, an extreme form of a challenge nationwide. Nearly every large U.S. city is struggling, to some degree, with reduced office-worker turnout since the pandemic spurred remote work. No market was hit harder than San Francisco, for reasons including its high costs, reliance on a tech industry quick to embrace hybrid work, and quality-of-life issues such as crime and homelessness.
Many of the city’s most prominent corporate tenants, from Salesforce Inc. to Facebook parent Meta Platforms Inc., are flooding the office market with space for sublet rather than waiting for their leases to expire. The lack of office workers is rippling throughout the financial district, leading restaurants, retailers and other small businesses to lay off employees or close.
Nearly 30% of San Francisco’s office space is vacant, which is more than seven times the rate before the pandemic hit, and the biggest increase of any major U.S. city, according to commercial real estate services firm CBRE Group Inc.
Today it is hard to know just what office buildings in San Francisco’s financial district are worth, because transactions have practically dried up. A sale of 350 California promises to establish new pricing.
“We’re all really on the edge of our seats to see the first office trade in San Francisco,” said J.D. Lumpkin, executive managing director at real estate services firm Cushman & Wakefield.
Stress on the office-building market across the U.S. is not an isolated problem, because of the effect on tax levies and nearby shops and the potential impact on the financial sector, especially regional banks that are big lenders on commercial real estate.
A?bout $80 billion worth of loans backed by U.S. office buildings come due this year, according to data firm Trepp Inc. Most will need to be refinanced, at a time of higher interest rates and lower occupancy, threatening lenders with losses.
Wells Fargo & Co. recently said the volume of its office-building-backed loans that are classified as “nonaccrual”—meaning the bank no longer expects full interest and principal payment—jumped to $725 million in the first quarter from $186 million in the 2022 fourth quarter.
The office tower at 350 California, which CBRE is marketing, faces some specific challenges. The tower is about 75% vacant because the primary tenant, Union Bank, has mostly vacated it. Unfilled space is a big liability these days, in contrast to before the pandemic, when investors would often pay a premium for empty space because it meant a chance to raise rents.
Any buyer of 350 California—built in the 1970s and owned by Mitsubishi UFJ Financial Group’s MUFG Americas unit—is expected to have to spend another $50 million or so on interior spaces and other changes to lure new tenants. Amenities such as rooftop decks and spa-quality fitness centers now are standard in top-quality buildings that can charge the highest rents.
Regardless of the building’s specific issues, a sale as low as the bids some brokers expect would be bad news for office owners in other U.S. cities too, said Mark Fawer, a partner in the real estate practice group at law firm Greenspoon Marder.
“This could be seen as a bellwether for the value destruction in the urban office market nationally,” he said, “especially those markets that are more technology and financial services-centric.”
California Street, stretching 5.2 miles from the financial district to Lincoln Park, is one of San Francisco’s longest and most celebrated boulevards. The corridor runs through Chinatown and is traversed by the city’s famed cable cars. It intersects Montgomery Street, where traders swapped stocks at the Pacific Exchange on nearby Pine Street until 2006.
Though business activity in the district was upended by the dot-com bust in 2000 and the 2008 financial crisis, its office towers refilled not long after both of those downturns. “There always used to be people waiting at the elevator,” said Paul Bleeg, a tax partner at accounting firm EisnerAmper LLP on California Street. “I could never get a seat on BART,” the public transit system.
On a recent afternoon, Robbie Silver strolled a California Street sidewalk next to empty stores and “for lease” signs. As executive director of Downtown SF Partnership, a nonprofit business advocacy group, he is lobbying for public-private partnerships to convert unused office space into apartments and help attract new stores, restaurants and other shops to replace those that have closed.
In February, San Francisco Mayor London Breed rolled out her plan to revitalize the downtown office market, the latest U.S. city to announce steps to recover from the office-worker exodus. Her proposal includes a mix of tax incentives.
Any financial solution to the city’s problems is made harder because property owners are among the city’s biggest taxpayers and now are earning considerably less income. The San Francisco controller’s office forecasts up to $1 billion in lost property taxes for local agencies from commercial buildings alone through 2028. Retail sales have fallen steeply in San Francisco.
Ms. Breed asked city department heads to prepare for cuts of up to 13% over the next two years to cope with a projected budget shortfall over that time of $780 million, or 6% of the total general-fund revenue, amid overall economic risks.
As recently as 2021, San Francisco office-building owners were still hopeful the financial district would emerge with renewed vigor, as after the previous downturns. That year, the owner tried to sell the office tower. It pulled the listing after bids failed to exceed $180 million, or 60% of the estimated 2019 value, according to people familiar with the matter.
The tepid interest was an early sign that this crisis was different, and that a deteriorating quality of life in the city was contributing to the reduced office turnout.
There was a lot of hate crime on Asian Americans, and we had many [Asian Americans] on our team who refused to come to the office,” said Anthemos Georgiades, CEO of Zumper, an online real-estate firm. By early this year, only about half of Zumper’s San Francisco-based workers had returned to their office at the Transamerica Pyramid near California Street.
San Francisco’s dependence on the tech industry, for years a strength, has become a weakness. With young workforces and break-the-mold corporate cultures, tech companies like Dropbox Inc. and Yelp Inc. announced shifts toward more remote work and needing less office space.
One company’s policy on returning to work has particularly stung—that of Salesforce. CEO and co-founder Marc Benioff, a fourth-generation San Franciscan whose grandfather served on the city Board of Supervisors, was a public advocate for a special tax to assist the homeless that many other businesses opposed. In the years leading up to the pandemic, Salesforce became San Francisco’s biggest employer, occupying two new towers in the South-of-Market district.
When it came to a full return to offices, Mr. Benioff wasn’t a fan. “We’re not all going back,” he said at an industry event in 2021. “People’s consciousness and lives and ability to work has changed.” That put him in conflict with Mayor Breed, who in an interview earlier this year said that “for this city to be thriving, we need people back in the office.”
Salesforce this year began adopting a stricter return-to-office policy, asking some workers back as many as four days per week. In his public remarks, Mr. Benioff has continued to say that his earlier comment about the workplace being changed has been validated.
There has been a slight increase in activity in San Francisco this year, say landlords and small businesses. JPMorgan Chase & Co., a tenant of 560 Mission Street, has instructed managing directors to be back in the office five days a week. Tech giants like Alphabet Inc.’s Google and Uber Technologies Inc. have called employees back to the office some days.
Brokers say venture-capital firms investing in the fast-growing AI sector are making inquiries about office space. “If I wasn’t bullish on San Francisco, I wouldn’t be here,” said Chris Roeder, lead broker for the San Francisco office of commercial real estate services firm
Some landlords are getting new leases signed, though with steep concessions. In 2019, tenants signing 10-year leases would typically get three months of free rent. Today it can be as much as 18 months, brokers say.
Average asking office rent was $75.25 a square foot in the first quarter of this year, compared with $88.40 the first quarter of 2020, according to CBRE. Meanwhile, tenants are getting sublease space for as low as $25 a square foot. That is just enough to pay the electricity, heat and other costs to operate a building, said Elizabeth Hart, president of North American leasing for commercial property services firm Newmark Group Inc.
For the building at 350 California Street, some brokers say even an 80% markdown from the 2019 value might not attract an abundance of bids. Few conventional lenders will provide debt financing for a near-empty tower nowadays, brokers and landlords say, which means the winning bid will likely have to be all-cash. They say it’s even possible no deal will be done.
Matthew Anderson, managing director at Trepp, the data firm, said that selling the office building at a deeply discounted price would be a sad moment for the office market sector.
“I want to cry,” he said. “I’m getting emotional just thinking about that.”
——————
https://www.youtube.com/watch?v=GWBzxr3c29s
https://www.youtube.com/watch?v=a0z5sD8ylRY
https://www.youtube.com/watch?v=l44g0eW3rwI
https://m.youtube.com/watch?v=lAD6Obi7Cag&pp=ygUveW91ciBtb25leSBmb3Igbm90aGluZyBhbmQgeW91ciBjaGlja3MgZm9yIGZyZWU%3D
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Job cuts
Morgan Stanley and Citigroup have joined the chorus of companies announcing job cuts as cost pressures rise. Morgan Stanley says the move is necessitated by the slump in dealmaking, which spurred a profit decline in the first quarter. Just months after the bank trimmed about 2% of its workforce, it plans to slash a further 3,000 jobs globally. Citigroup CEO Jane Fraser cited similar pressures, saying the company is willing to adjust staffing levels inside its investment bank as they cope with the dealmaking drop that’s cut into fees across Wall Street.
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Ts
FYI-Post May 2 Credit Suisse AT1 Bondholders Who Lost $1.7 Billion In UBS Deal File Lawsuits
Credit Suisse Group AG bondholders sued Switzerland’s banking regulator after their securities worth $1.7 billion were wiped out
Law firm Pallas Partners, which filed the suit in a Swiss court on April 18, said the Finma agency had no right to order the writedown and is seeking full compensation for its clients — 90 institutional investors and asset managers with $1.35 billion in so-called additional tier-1 bonds, as well as 700 retail and family office clients accounting for some $300 million.
This was an abuse of process and the resolution procedure should not be used by Switzerland to enable UBS to take over Credit Suisse to the detriment of AT1 holders,” Pallas founder and managing partner Natasha Harrison said in a statement
The latest claims mean that investors representing more than a third of the $17 billion in AT1 bonds issued by Credit Suisse have now sought to get their money back. US law firm Quinn Emmanuel last month filed a claim in Swiss court representing more than 400 institutional investors who held about $4.5 billion worth of AT1s, and at least two other complaints have been filed.
Created after the 2008 financial crisis, AT1s are the lowest rung of bank debt, producing juicy returns in good times but taking the first hit when a bank runs into trouble. Even shareholders — often the first domino to fall in such situations — salvaged some value from the takeover engineered by Swiss authorities, while Credit Suisse’s AT1 holders walked away with nothing. Many bondholders were furious at the move. European regulators hurried to reassure investors that the Swiss arrangement was an exception.
Bondholders have argued that changing the law the day before the notes were written off was unfair and that a process upending the conventions of an insolvency where bondholders take priority over shareholders is wrong.
However, Finma’s move was covered by emergency legislation enacted the weekend of March 18-19 the deal to rescue Credit Suisse was put together. Defenders of the writedown also point to the fact that the fine print on the bonds always warned that the risk of a writedown to zero was a possibility.
Further lawsuits are expected this week as UBS races to complete the deal. (Some law firms have interpreted the 30-day deadline for suits to be April 18, while others believe the 30-day rule to be only working days.)
UBS Chairman Colm Kelleher has said he plans to finalize the takeover this quarter, specifically in May.
https://www.bqprime.com/amp/business/credit-suisse-at1-bondholders-who-lost-1-7-billion-in-ubs-deal-file-lawsuits
GLTA-Ts
A FYI post-Fire Sale: $300 Million San Francisco Office Tower, Mostly Empty. Open to Offers.
350 California Street was worth $300 million four years ago. It might sell for 80% less now, brokers say, in a market where office vacancy rates have soared.
Before the pandemic, San Francisco’s California Street was home to some of the world’s most valuable commercial real estate. The corridor runs through the heart of the city’s financial district and is lined with offices for banks and other companies that help fuel the global tech economy.
One building, a 22-story glass and stone tower at 350 California Street, was worth around $300 million in 2019, according to office broker estimates.
That building now is for sale, with bids due soon. They are expected to come in at about $60 million, commercial real-estate brokers say. That’s an 80% decline in value in just four years.
This is how dire things have become in San Francisco, an extreme form of a challenge nationwide. Nearly every large U.S. city is struggling, to some degree, with reduced office-worker turnout since the pandemic spurred remote work. No market was hit harder than San Francisco, for reasons including its high costs, reliance on a tech industry quick to embrace hybrid work, and quality-of-life issues such as crime and homelessness.
Many of the city’s most prominent corporate tenants, from Salesforce Inc. to Facebook parent Meta Platforms Inc., are flooding the office market with space for sublet rather than waiting for their leases to expire. The lack of office workers is rippling throughout the financial district, leading restaurants, retailers and other small businesses to lay off employees or close.
Nearly 30% of San Francisco’s office space is vacant, which is more than seven times the rate before the pandemic hit, and the biggest increase of any major U.S. city, according to commercial real estate services firm CBRE Group Inc.
Today it is hard to know just what office buildings in San Francisco’s financial district are worth, because transactions have practically dried up. A sale of 350 California promises to establish new pricing.
“We’re all really on the edge of our seats to see the first office trade in San Francisco,” said J.D. Lumpkin, executive managing director at real estate services firm Cushman & Wakefield.
Stress on the office-building market across the U.S. is not an isolated problem, because of the effect on tax levies and nearby shops and the potential impact on the financial sector, especially regional banks that are big lenders on commercial real estate.
A?bout $80 billion worth of loans backed by U.S. office buildings come due this year, according to data firm Trepp Inc. Most will need to be refinanced, at a time of higher interest rates and lower occupancy, threatening lenders with losses.
Wells Fargo & Co. recently said the volume of its office-building-backed loans that are classified as “nonaccrual”—meaning the bank no longer expects full interest and principal payment—jumped to $725 million in the first quarter from $186 million in the 2022 fourth quarter.
The office tower at 350 California, which CBRE is marketing, faces some specific challenges. The tower is about 75% vacant because the primary tenant, Union Bank, has mostly vacated it. Unfilled space is a big liability these days, in contrast to before the pandemic, when investors would often pay a premium for empty space because it meant a chance to raise rents.
Any buyer of 350 California—built in the 1970s and owned by Mitsubishi UFJ Financial Group’s MUFG Americas unit—is expected to have to spend another $50 million or so on interior spaces and other changes to lure new tenants. Amenities such as rooftop decks and spa-quality fitness centers now are standard in top-quality buildings that can charge the highest rents.
Regardless of the building’s specific issues, a sale as low as the bids some brokers expect would be bad news for office owners in other U.S. cities too, said Mark Fawer, a partner in the real estate practice group at law firm Greenspoon Marder.
“This could be seen as a bellwether for the value destruction in the urban office market nationally,” he said, “especially those markets that are more technology and financial services-centric.”
California Street, stretching 5.2 miles from the financial district to Lincoln Park, is one of San Francisco’s longest and most celebrated boulevards. The corridor runs through Chinatown and is traversed by the city’s famed cable cars. It intersects Montgomery Street, where traders swapped stocks at the Pacific Exchange on nearby Pine Street until 2006.
Though business activity in the district was upended by the dot-com bust in 2000 and the 2008 financial crisis, its office towers refilled not long after both of those downturns. “There always used to be people waiting at the elevator,” said Paul Bleeg, a tax partner at accounting firm EisnerAmper LLP on California Street. “I could never get a seat on BART,” the public transit system.
On a recent afternoon, Robbie Silver strolled a California Street sidewalk next to empty stores and “for lease” signs. As executive director of Downtown SF Partnership, a nonprofit business advocacy group, he is lobbying for public-private partnerships to convert unused office space into apartments and help attract new stores, restaurants and other shops to replace those that have closed.
In February, San Francisco Mayor London Breed rolled out her plan to revitalize the downtown office market, the latest U.S. city to announce steps to recover from the office-worker exodus. Her proposal includes a mix of tax incentives.
Any financial solution to the city’s problems is made harder because property owners are among the city’s biggest taxpayers and now are earning considerably less income. The San Francisco controller’s office forecasts up to $1 billion in lost property taxes for local agencies from commercial buildings alone through 2028. Retail sales have fallen steeply in San Francisco.
Ms. Breed asked city department heads to prepare for cuts of up to 13% over the next two years to cope with a projected budget shortfall over that time of $780 million, or 6% of the total general-fund revenue, amid overall economic risks.
As recently as 2021, San Francisco office-building owners were still hopeful the financial district would emerge with renewed vigor, as after the previous downturns. That year, the owner tried to sell the office tower. It pulled the listing after bids failed to exceed $180 million, or 60% of the estimated 2019 value, according to people familiar with the matter.
The tepid interest was an early sign that this crisis was different, and that a deteriorating quality of life in the city was contributing to the reduced office turnout.
There was a lot of hate crime on Asian Americans, and we had many [Asian Americans] on our team who refused to come to the office,” said Anthemos Georgiades, CEO of Zumper, an online real-estate firm. By early this year, only about half of Zumper’s San Francisco-based workers had returned to their office at the Transamerica Pyramid near California Street.
San Francisco’s dependence on the tech industry, for years a strength, has become a weakness. With young workforces and break-the-mold corporate cultures, tech companies like Dropbox Inc. and Yelp Inc. announced shifts toward more remote work and needing less office space.
One company’s policy on returning to work has particularly stung—that of Salesforce. CEO and co-founder Marc Benioff, a fourth-generation San Franciscan whose grandfather served on the city Board of Supervisors, was a public advocate for a special tax to assist the homeless that many other businesses opposed. In the years leading up to the pandemic, Salesforce became San Francisco’s biggest employer, occupying two new towers in the South-of-Market district.
When it came to a full return to offices, Mr. Benioff wasn’t a fan. “We’re not all going back,” he said at an industry event in 2021. “People’s consciousness and lives and ability to work has changed.” That put him in conflict with Mayor Breed, who in an interview earlier this year said that “for this city to be thriving, we need people back in the office.”
Salesforce this year began adopting a stricter return-to-office policy, asking some workers back as many as four days per week. In his public remarks, Mr. Benioff has continued to say that his earlier comment about the workplace being changed has been validated.
There has been a slight increase in activity in San Francisco this year, say landlords and small businesses. JPMorgan Chase & Co., a tenant of 560 Mission Street, has instructed managing directors to be back in the office five days a week. Tech giants like Alphabet Inc.’s Google and Uber Technologies Inc. have called employees back to the office some days.
Brokers say venture-capital firms investing in the fast-growing AI sector are making inquiries about office space. “If I wasn’t bullish on San Francisco, I wouldn’t be here,” said Chris Roeder, lead broker for the San Francisco office of commercial real estate services firm
Some landlords are getting new leases signed, though with steep concessions. In 2019, tenants signing 10-year leases would typically get three months of free rent. Today it can be as much as 18 months, brokers say.
Average asking office rent was $75.25 a square foot in the first quarter of this year, compared with $88.40 the first quarter of 2020, according to CBRE. Meanwhile, tenants are getting sublease space for as low as $25 a square foot. That is just enough to pay the electricity, heat and other costs to operate a building, said Elizabeth Hart, president of North American leasing for commercial property services firm Newmark Group Inc.
For the building at 350 California Street, some brokers say even an 80% markdown from the 2019 value might not attract an abundance of bids. Few conventional lenders will provide debt financing for a near-empty tower nowadays, brokers and landlords say, which means the winning bid will likely have to be all-cash. They say it’s even possible no deal will be done.
Matthew Anderson, managing director at Trepp, the data firm, said that selling the office building at a deeply discounted price would be a sad moment for the office market sector.
“I want to cry,” he said. “I’m getting emotional just thinking about that.”
——————
https://m.youtube.com/watch?v=lAD6Obi7Cag&pp=ygUveW91ciBtb25leSBmb3Igbm90aGluZyBhbmQgeW91ciBjaGlja3MgZm9yIGZyZWU%3D
———————————————-
Job cuts
Morgan Stanley and Citigroup have joined the chorus of companies announcing job cuts as cost pressures rise. Morgan Stanley says the move is necessitated by the slump in dealmaking, which spurred a profit decline in the first quarter. Just months after the bank trimmed about 2% of its workforce, it plans to slash a further 3,000 jobs globally. Citigroup CEO Jane Fraser cited similar pressures, saying the company is willing to adjust staffing levels inside its investment bank as they cope with the dealmaking drop that’s cut into fees across Wall Street.
—————————-
Ts
Good morning people, FYI. JPMorgan will assume all deposits held by First Republic Bank after the troubled lender was taken over by US regulators. The resolution came after the weekend’s emergency auction, where banks including JPMorgan, PNC Financial Services and Citizens Financial were asked to submit offers. Also invited were Bank of America and US Bancorp — but both decided against bidding. JPMorgan, the country’s largest bank, had the advantage of what Chief Executive Officer Jamie Dimon calls its fortress balance sheet heading into the government-led attempt to sell First Republic.
Complete story below
https://www.bloomberg.com/news/articles/2023-05-01/first-republic-seized-by-regulators-will-be-sold-to-jpmorgan?cmpid=BBD050123_MKT&utm_medium=email&utm_source=newsletter&utm_term=230501&utm_campaign=markets
GOGOOOOOOCOOP
GLTA-Ts
Dude, how many times do I need to post about The BOYZZZ BANKS , ITS LIKE THE FAB 5 , It’s not hard , take care, as I enjoy a few Irish coffee’s after dinner with some chocolate mousse cake
Life issss. Good
GoGooooooCOOP
GLTA-Ts
Was this info posted , (TGIF) lol if so sorry , Dallas News ON 2023-04-27 12:40
Coppell’s Mr. Cooper buys another mortgage servicer, adding 250,000 customers
Coppell-based Mr. Cooper Group is buying a large player in the mortgage business, adding a quarter of a million new customers. Mr. Cooper, formerly ...
https://newstral.com/en/article/en/1237737807/coppell-s-mr-cooper-buys-another-mortgage-servicer-adding-250-000-customers
GLTA-Ts
Good morning people , FYI. IN THE 47.pps we hit that mark 3x in the past year and each time it held between 2 to 3 days and dropped back down , time will tell if it’s a end around run or not
GoGooooooCOOP
TGIF BABEEEEE Have a great weekend people, GLTA-Ts
Good morning people, For now it looks like a great day in the neighborhood on COOP avenue, but I will wait for another day or two
GoGooooooCOOP
Have a great day people
GLTA-Ts