España
pues un submarino pero la hora del Titanic ya paso y espero que el valor de las acciones New Co sea superior a $1 así se callen ya las malas lenguas.
Soy optimista respecto a nuestro futuro y creo que Susman y TPS han debido ver algo positivo para aceptar el settlement
Tus pronosticos para las WAMUQ eran de 8 y de 1.000 para las WAMPQ, asi que aqui ya saben que fallas mas que una escopeta de feria. Has dejado mas pillados que el propio Banco en el 2008 cuando la crisis bancaria.
Email text I received today from Korsman :) :) :)
"It is my understanding that the company is going to distribute Liquidating Trust Interest (LTI) to the PIERS holders on the first day of distributions. These interests will be in book entry form and maintained by the liquidating trustee. You should receive a letter from the trust in the near future indicating your interest in the LTIs. No cash will be distributed to the PIERS on day one"
Si las H´s no reciben, las preferentes estan en la picota. Como de costumbre recoges toda la basura que escriben los que difunden informaciones falsas como las que has distribuido hasta la fecha.
Por eso las H´s no bajaron como las preferentes hasta el hundimiento, haztelo mirar.
Aun no has averiguado porque las preferentes no se quedaron en su precio de conversion de la nueva reoganizada, eso es lo primero que deberias averiguar en vez de escribir enlaces que no sabes ni lo que dicen. Eres la RUINA EN PERSONA.
las preferentes son dueñas del 75% de la NewCo bocazas.
;) :) ajo y agua que parece que escuece.
Dear Ed
As you are well aware the shareholders of wamu have formed many message boards and alike. Like most shareholders we all have a couple of burning questions. Specifically, have you received a timeline on the distribution of the New Co shares and final conversion ratio? Of course there are many other questions I would like to ask, however I would imagine “what happens in mediation stays in mediation”. Any additional information would be greatly appreciated.
Sincerely,
Barry
Answer:
We've gotten many inquiries, understandably, about the conversion ratio. We are attempting to get that information and will disseminate it as soon as we receive it. As to anything else, ask away. But if it relates to things from the mediation you are correct that I cannot share them.
Edgar
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Well He answered !
Asked
Ed
Your statement in court of “more than fair your honor” has a lot of us hoping! Any thoughts on that, or are we taking it out of context?
Answered:
I'm afraid I don't know anything that you don't know. No hidden messages in any of my comments. I think the company has a lot of potential, not all of which is necessarily reflected in the valuations. And I also think that given where things were in the case, even a recovery of $150 to $200 million for equity is a great result.
Thanks,
Edgar
The BOD of the new co. will have the authority to issue 5,000,000 preferred shares with an unknown face value and dividend. I'm thinking that this offering will be used to raise capital. Now just think about this for a minute. A $1,000 FV on 5,000,000 preferred shares equals a capital raise of $5 billion. Now the new companies book value is approx. $5.2 billion. And now more doors are unlocked...
Leed bien esto:
5B in capital raised less 7% is still 4.65B after one year. The key is being able to use the 5B to generate profits greater than the 350m in annual interest. If you buy company X with the 5B and that company is making 600m in annual profits, you have a net gain of 250m. If you gave company X half of the outstanding shares (another 200m), you still have the 5B in cash and the 5B other company making 250m in profits (after deducting preferred holders interest.) Now, you take your 10B company with 400m shares outstanding and 5B in preferreds outstanding and buy 5B company Y with 3B in cash and issue 80m more shares taking total to 480m outstanding. Now, you have a company worth 15B less the 3B cash or 12B in value (with 5B in preferreds outstanding). If company Y is making 750m in annual profits, you now have a company generating 1B in annual profits (tax free thanks to NOLs). That would equate to a little over $2 per share with 480m shares outstanding and I am already deducting the annual interest for the preferred holders at 350m per year.
PE of 10 equates to a stock at $20 per share and a company with net worth of 12B with 5B in preferreds and no debt (assuming that the companies bought were debt free.)
Hopefully, this gives you an idea of how the equity raise through preferreds could make a significant difference to Newco. If it took 5 years to accomplish the above, then I would be more than happy to wait. That provides a recovery of 40% for old preferred holders or $400 for each P. Enjoy the ride.
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As some have theorized.....that the HFs are already the major owners of the equities for the WMI Holdings subsequent to their converted holdings of oldWMI then it would be quite simple for them to capitalize WMI Holdings Corp with the purchasing of the 5mil prefers at a $1k face value thereby allowing them to increase the new company's capitalization to the $5.2bil level making the common share value worth move up accordingly..... This is all very very curious......since it seems it was only at the last minute that this measure was added in WMI Holdings being able to offer the 5mil in prefers .....that news was disclosed at the same time that it was announced that the common equity outstanding amount was raised from the initial 200mil shares to now 500million...... And there is a reason behind all this.....which is known by the insiders ......leaving us to sit and guess......but seems very possible.....
My pessimism now .....starting to roll over to cautiously optimistic..... and will provide us with some positive in all the negatives that we have incurred....
Now, BODs of WMI Holdings Corp...needs to provide a PR in the next few weeks to see if this thinking is correct or not.......
The 5mil prefers did catch my attention couple of weeks ago.....I just could not put the picture together like kyle has
Again, this is totally hypothetical, but just there to give you an idea of what may be possible. Even if this only resulted in 500m in profits, you are still looking at a significant PPS for Newco shares that is more than most can foresee at this point in time.
I primarily held because I was sure that the SNHs had a big plan to make use of the NOLs and create a super-sized tax free entity.
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Bueno parece que algo está cambiando y las mentes empiezan a abrirse...
Not saying that everyone will play nice with others but I can see possibilities. One of our greatest assets is NOL's and income is need to utilize these assets. We are partners with HF's, part owners of a company that really don't have a business but we have NOL's. What do our partners know how to do? Run a HF. If capital were raised through a "Pure Preferred Stock" sale what could be accomplished?
"The multibillion dollar Quantum Fund managed by the legendary George Soros, for instance, boasted compound annual returns exceeding 30% for more than a decade." I assume that was with the "nest egg" killing capital gains limitation. HF’s move quick and pay a premium in taxes for that speed, our NOL’s remove the governor allowing us an unfair advantage and incentive to build quick.
Like I say, I'm not sure HF's play well with others but it could work. BTW, it normally takes big money to invest in a HF.