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Thursday, August 02, 2012 2:52:06 PM
I read "everything" and will stick by my own conclusion that they will either use the bankruptcy exclusion or insolvency exclusion. This will wipe out the current NOLs of 55 billion.
This is all IMO IMO as I posted earlier before that IMO, most of the due from affiliates about 2/3 of the 150 billion will be written of as new NOLs about 100 billion. If they are able to recover all or most of the due from affiliates (IMO unlikely) it will be even better adding in assets instead of NOLs. So it dont really matter as long as there is a discharge.
Here is my final calc with my speculation so take it as you like.
Discharge is 358 billion
NOLs will be roughly 150 billion
Insolvency exclusion is about 244 billion (see previous posts for calc)
Total of NOLs and exclusion totals 399 billion
358billion discharge - 399 billion = 41 billion in NOLs left
The discharge will result in a NO COD TAX. Most of LAMCO will exit intact. Then we merge/ipo........Its my opinon and I am done with this topic for now...great DD guys...my final answer....go figure...devil
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