I can't agree with this. Millett is asking questions... later when defendant's attorneys speak and are questioned... it appears millett may get it.
Amazing he hit it!
Conservator conserves... Receivers Liquidate.
Net worth sweep is NOT conserving it is liquidation.
Thus he makes our argument.
So, here is the 500Billion dollar question.
What are they "the government" going to do about it. They've been uncovered as deceitful and dishonest.
Are they going to admit the mistakes right the wrong or going to continue being derelicts and thieves?
What matters next is - what they gonna do!
Where / when will the next "hit" piece by carney show up?
The topic is going to be...
"it don't matter who said what and when... it matters that treas/fhfa are the gospel and did and can do whatever they want.... so suck it"
Seemingly, it 100% detracts from its value by flooding it with posts.
So odd for one poster to waste so much of their life on something they get 0 from.
Here is a thought - there is a management lead buy out at play. There are now 35M share outstanding of which management/closely held folk probably own 10-15%. Recently as of Dec 2015 they reported like $300M of cash on hand. Do the math.. a sale price at $15 a share on 30M shares to buy up means all they have to come up with is around $150M bucks. Could they be intentionally sinking the shares low enough so a "bidder" looks attractive; requires minimal funding and can nearly use the company's own cash to buyout shareholders. Now this isn't perfect - but why else would management be so awful except for doing it intentionally. Just a thought - and it could be wrong.
Unfortunately, since they won't issue you physical shares.... it won't be good enough for wallpaper. Thus your street named shares will become no more.
No. They'll issue shares = to the number tendered. 1 Line will be represented by 1 Lnco.
The stock will rise if BK is averted or oil rebounds.
Its really easy.
Lnco (shares) or units represent 1 unit of LINE each.
Thus if Line has 500M units outstanding and there are 200M units of Lnco - then Lnco owns 200M units of Line.
Lnco -v Line
You'd think that considering the very likelihood of 2-4 Billion in COD income to be realized in April that shares of Line would be trading at near no value and that if the same people were looking at Lnco that it would be trading at 50c or so pending the "news". That one way or another... if Linn survives, that Lnco would be where the value would be and that Line shares - due to the tax burdens would not.
I guess my point here is right now... today Lnco shares should be proportionately much higher than Line.
It costs the company to have more issued and outstanding shares. They pay more to the transfer agency, to the state of delaware, etc. when it costs you nothing more to buy 30 shares as it does to buy 100.
No. The same proportionate interest is owned. Its just that Line units owned by Lnco - the COD income goes to the Pship of Linco that is treated as a C - Corp for tax purposes. And thus the COD income does not pass thru to the unit holders.
So, equivalently, if you owned 1% of Linn pre-exchanges and got 1% of the COD then after the exchanges you still own 1% of Linn. Its just that owners of Lnco do not get allocated directly the pass thru's its "estopped" at the Lnco level.
Gosh this is so simple a concept - I won't try and explain it further -
Think about it logically.
The Linco shares represent a single share of Linn.
In order for Linco to issue shares it has to be issued or own a share of linn.
Thus... if Linco currently owns around 15% of Linn. And 70% of the share owners want to convert to Linco then Linco has to issue shares for this by then owning that 70% interest. ie. If there are 450M Units of Linn outstanding and Linco owns 60M of them. They would have to issue shares of linco equal to the number of linn shares redeemed or exchanged.
So, think about it logically.
This is not true.
There will be no change in the number of Linn Shares issued and outstanding.
What will happen is LINCO will "acquire" the share you are surrendering and issue a share of LINCO. Thus the Linn share is now owned by Linco and you own the share of Linco.