Let's look at what we know!
We have virtually nothing of the original WaMu left and not even its own name. If only this could get some worldwide attention and since it has not during an election year, it NEVER will and so I will not digress any further. The following is what we have to deal with. Even though this is going on four years, generally retail would never have had this opportunity that many of us now have and that is riding the coattails of the very people who know how to make money even it is not legal.
We now know why these Criminals fought so hard to steal the reorganized company (tax attributes) and there are only two things that have changed. Number one, there is around twenty percent of retail along for the ride and an extra two years have passed since the Criminals almost stole the rest.
• 75 million in cash
• 125 million borrowing capacity
• 5-6 billion in WMB abandoned worthless stock deduction that must be in place by 12/31/2012
• We have an Executive lineup that is not too shabby plus an opening for a permanent C.E.O.
• A potential business plan coming including an audit for WMIH – maybe separate
• Arguably, anywhere from 15 to 40 billion in NOL’s
Anybody who has worked for a publically traded corporation should know that a company will say absolutely NOTHING about their business plan and/or potential acquisitions that may be in process until something is confirmed and then they will file an 8K reflecting a ‘material development’ which generally will happen opposite normal business hours.
Now common sense tells me that there in no way that these kind of people we are dealing with are just going to throw a once in a lifetime opportunity (that should have never happened) away because a little time has passed. I look for very positive developments any day, but probably between September 15th and October 31st and certainly by 12/31/2012.
