Wednesday, October 29, 2014 12:13:42 PM
We are at the point where the first question has been answered with a YES in practicable terms with the KKR deal."
But, as has been posted here, so far KKR has only brought 5% of WMIH's stock. I don't know their motives and maybe they will increase their percentage later on. But I do know we have to pay them through the issuing of new shares for any M+A they fund. Why won't they initiate even one M+A?
"The market took proper notice."
Did they? When the KKR deal was announced last December I believe our PPS was around 2.00. That's about where it is now - a full year later.
"Now, does the BOD care about the PPS ? I would agree with you that they don't at this time."
The fact that they don't care can be seen by their silence and Wall Street manifests this by the pitiful daily volume and the ever-falling BID.
"The BOD may soon have a very different structure enlisting KKR director or directors - we really do not know."
I hope change is good (like Obama said in his campaign).
"I anticipate an announcement before the next shareholder meeting. Could be tomorrow, could be March 2015, don't know."
As I said, this BOD may be satisfied with all the millions they are granted and not care about the PPS of a company they didn't even want to be trading. But I guess sooner or later they will have to protect their jobs.
If there is no M+A by then I guess even a KKR staffed BOD would be a positive change.
When I said this BOD may not be caring about the PPS - up only 20 cents in a full year - I wasn't meaning to complain. If the PPS does go back to 2.00 then one could honestly say that Wall Street is correctly reacting to a no action, no news, no business plan BOD.
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