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Bob, the PE has been listed at around 1750 and now is showing at 67. Why? Something has just changed. This is VERY strange.
The listed PE just changed. Why suddenly at $67??? Anyone else pick up on this?
PE was $1800. Now suddenly $67. Expect a PR.
They have to be silent now. We are in the biggest month of our WAMU lives, perhaps. Get ready. I say something wonderful is about to happen.......
KKR, Blackstone, Susman et.al....these are no dummies.
There will be plenty of $ for par on escrows. Could be much much more, put par is a given at this point based on what we know will come back to the estate.
The value was $350B. That amount should come back to the estate, but as corrupt as things are now in this country don't hold your breath.
My guess is anywhere from $15-100B. Even if only $15B the prefs will be made whole. That is conservative but more realistic.
I suggest you escrowers start to think "what ifs" because it could happen suddenly some day and your account will then be huge. As many have said, it is best to keep windfalls like this secret. If you suddenly have millions and word leaks out about you you will have other problems to deal with. Think "security".
Large...agree with your assessment. $350B is accurate but we'd be lucky to get $100B in this corrupt environment of this administration. Nonetheless, $100B will make Ps worth thousands....imagine. We deserve just restitution after 6 years of agony we have all been put through.
Sept could be a huge month for escrow and WMI. And when the $$$ comes back into the estate, the escrow shareholders will suddenly find their accounts are up enormously one morning. I now agree there will be no fanfare and no chest pounding by Obama. I think this will be done quickly and quietly.
Those who hold escrows must prepare themselves NOW. Tread quietly with your newfound gains and keep the news to yourself. If you suddenly have millions people will bug you relentlessly! Keep it quiet. Get a good trustworthy financial counselor and tell no one other than spouse (If you trust them!)
This could be VERY big so get ready now. Be cool.
This is why there has been no WMI deal to date. They too are waiting to see what $$$ are coming from FDIC. It could be enormous, so why share it with another company? In any event, next month will be big. Those with escrow shares are in for some good times...use it wisely and keep it secret or you'll have friends, both good and bad, that you never imagined...and personal lawsuits for every reason under the sun. Keep your newfound wealth quiet...trust no one.
Prefs will be paid at least par. Likely much more, but there's plenty of money coming back to pay in full. The question is, when............
Large...Sept will be a very large month. Funny how the hedgies are still trying to manipulate out the retailers!! Sept will be big. Very big.
They need to somehow give Obama credit for this WAMU settlement. Once they figure that out the assets will be released, with big fanfare. "Look. I took care of the WAMU shareholders who were fleeced by the previous administration. Period."
AZ is right. Assets must be returned to WMI. Plain and simple. FDIC can't hold them and they can only go to WMI. The question is when....
Since his best friend is CEO of JPM he has a lot to do with this. He'd get good PR out of righting this wrong. Watch and learn.
AZ, you are 100% correct sir. Your analysis is accurate. The question is when will this transpire? I think Obama will use this and say Bush created this mess for WAMU shareholders and that he is going to make it right and return the funds to the rightful owners. Sept sounds like as good a time as any. It would be good PR for the Nov elections.
Now, $10B would make Ps whole. $24B would pay them $2400 each. Simple arithmetic.
The FDIC has to make this right. They are holding assets that they do not own and they need to be returned to their rightful owners. The FDIC will not dare challenge this the way the Obama administration has been losing its court battles lately. Expect this to be returned to the estate/escrow holders.
Escrows will be paid much more than expected. I thought we'd be lucky to get $50-100 for Ps but now it is looking like much much more. I don't know about face but $300-500 wouldn't surprise me now.
Greenie...I agree. By Sept...maybe even next month, things will start to happen. Could be huge. I'm amazed the stock is languishing here as these crucial dates are very close now.
"The next two to three months are going to be VERY exciting for escrow share account owners IMHO, unless the FDIC postpones the official closure of the P&A. Personally, I do NOT think this will happen as this has all been very carefully staged all the way down to key dates, times and filings IMHO."
Greenie....yes escrows will get paid. I expect something to be announced in Sept. Will we get $1000 per P as bop/csny/whoeversheis says? Would be nice but is doubtful in this corrupt kingdom we now live in. I can however see at least $100 per P and maybe as much as $300-500 based on my models. I have huge escrow holdings and will donate ALL over $100 P to the wounded warriors fund. I am holding since pre-BK and will continue to hold tight. It's been grueling for us all but I think something will break very soon. Those grants to the BOD didn't happen early for nuthin'. They knew something...sit back and relax and let KKR and Blackstone carry the ball to the goal line...and beyond.
Escrows will get $$. They have to. The question is how much? Payment in full would be nice but 10% is most realistic. That's $100 for Ps value, not great but at least it's something.
This week will be an interesting one....with the pending website it's certain something is coming. they tipped their hand at the SH meeting. I think an announcement will happen other than just "we have put up a new website". It may not be a BIG announcement quite yet, but something is coming.
Now,smart money is either being VERY cautious about IT issues, or this is one hell of a close to the vest secret if something is happening now. The early option grant was also telling. But there has been virtually no volume or spike. WS is crooked and smart money always knows before the pee-ons.
My guess is a small deal soon of some sort VERY soon, maybe more $ from KKR. But something big is coming in the next 3-4 months. Mark this post. :)
LOL. And the same slogan too???? Yeah, right!
Now that the cat's outta the bag they will need to make an announcement tomorrow. Looks like this is it.
Greenlight may be our green light...something is very strange here. Maybe they thought this deal would be wrapped up by the SH meeting but they couldn't get it done in time? Very strange indeed, and even the numbers do add up. This could be it! Good find for sure.
It is clear that there is something going on, though it is of course a very tightly held secret to avoid IT finger pointing once announced. They are likely waiting for a final letter from the IRS as to the exact total of NOLs, which is a very complex issue. Once they get "the letter", all hell will break loose. The thing that's nice about this delay is that the diehard long time holders of the stock will benefit, as it should be, and the Johnny come lately investors are likely gone now due to their lack of knowledge and impatience.
GLTAL
Interesting day ya had there Focker. Now, if we sell follow through tomorrow with increasing volume something's up.
KKR special meeting...announcement. You say it doesn't have anything to do with WMI? How do you know that? You don't.
Special meeting called by KKR. Hmmmmmm.....saw this on yahoo board. Very interesting
SAN FRANCISCO, March 24, 2014 /PRNewswire/ -- KKR Financial Holdings LLC (KFN) (the "Company") announced today that it will be holding a special meeting of common shareholders on Wednesday, April 30, 2014 in connection with the Company's proposed merger with KKR & Co. L.P. and its affiliates. The meeting will be held at 9:00 a.m. PDT at the Bently Reserve, Gateway Room, located at 301 Battery Street in San Francisco, California.
My guess is the 20th is no news. No way will they make a major announcement the day after the NOLs kick in. Too obvious to the IRS. They will wait at least a few weeks before pulling the trigger IMO.
The banks are the ones that sustained the losses and thus must get compensated if the suit is successful.
"It seeks unspecified damages in order to recover for losses sustained by the closed banks that the regulator seized."
This suit is very big for escrow holders. And you just know FDIC will win, so there will be a huge settlement. This will go to escrows. The FDIC is doing this to save face, making banks the scapegoats to get Bair and themselves off the hook. Escrow holders will do VERY well.
Why the MMs are holding this down:
I've been wondering why this is being so carefully manipulated, and I think it's becoming clear why. The MMs are being instructed to keep this below $5 so the big funds can't buy in, yet. Reason is they (the board and hedgies that control them, as well as for their own benefits as well as their friends') want this to stay below $5 so the big funds can't buy in at a low price (their fund guidelines prohibit buying stocks under $5). Then after the big deal is announced post 3/19 and the large gap up occurs well above 5, they let it go as the mutual funds then pile in to buy up shares, driving it up even further, thus essentially getting two large gap ups instead of one. Very brilliant strategy when you think about it.
Based on this theory, I see a major breakout whenever the first deal is announced with KKR and Blackstone driving. Volume will be huge and the big funds will buy en mass, making the share price go through the roof. When this will happen, we don't know. But considering March and Apr are two of the best market months and they want good market momentum when the big deal is announced, I'd say the boys will announce it soon after the magic 3/19 date.
IMHO. The longs are finally about to be rewarded after 6 years of agony.
Board options strike price at $2.53. It appears ( I can't say with certainty)that the options the board directors got in Feb at $2.53 are just that, options. They get the gain when they decide to cash them in.
Anyone know differently please chime in.
Gene Davis gets twice as many shares. Interesting. 2x MW's grant. Very interesting. Gene is awesome and we are lucky to have him on our side but I wonder why he got twice the options. Hmmmmmm....future CEO? I'd vote for him!
Feb 10, 2014 WILLINGHAM MICHAELDirector 50,000 Direct Acquisition (Non Open Market) at $2.53 per share. 126,500
Feb 10, 2014 DAVIS EUGENE IDirector 100,000 Direct Acquisition (Non Open Market) at $2.53 per share. 253,000
Rosen destroyed the lives of many......IMO. His nefarious deeds coupled with our corrupt DOJ is what put us all in this predicament. What goes around comes around.
$5.00 this month is not far fetched. I thought we'd need an announcement to get us there but now we may not even need one. I say the big PR will come out in Apr so it doesn't look like they were dodging the 2 yr rule.
Then again though if there is a deal in the works they may need to release info asap before a major leak hits the street.
Perfect cup n handle formation. Looks like a big gap up soon.
Congrats to all longs. Patience is paying off....been a long time coming! $5 not far off now. Hang in there.
I wonder how many escrow shares MW has...bet he has a ton. While he has a lot of shares of WMI, his big money would come from the escrows, so don't count those out...
Olti, talk to me in 2 months. I think you'll be much happier about our situation by then. For now relax and let these 2 months play out. Deal?
Also, remember that WMIH has gone from .70 to 2.70 in just a couple months. That's a hell of a move. More to come. If you are investing in stocks that make that kind of gain please let me know of them so I can buy a couple more houses. :)
I think we all need to be cautiously optimistic now and let Davis, Mike W and the boys do what they need to do. KKR is not stupid, nor is Blackstone. Relax and enjoy the ride.