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Nokia Corporation Message Board

michsteve09 18 posts  |  Last Activity: Jul 24, 2014 5:12 AM Member since: Nov 28, 2001
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  • Reply to

    feeling depressed

    by van90278 Jul 24, 2014 3:25 AM
    michsteve09 michsteve09 Jul 24, 2014 5:12 AM Flag

    Dorian said he bought in after hours last night. I am sure he did "sarcasm".

  • Reply to

    JUST IN......NEWS

    by dorlanpc Jul 23, 2014 7:38 PM
    michsteve09 michsteve09 Jul 23, 2014 10:02 PM Flag

    I think Zacks and a few other firms were pumping the hell out of AMD last week before earnings and all that came crashing down. I'd rather have negativity into an earnings that getting pumped up by these moronic so called analyst. The only thing you have to know and learn about Analyst is only the first four letters to their profession really explain what they are skilled at.

  • Reply to

    Scottrade customers

    by michsteve09 Jul 11, 2014 5:55 PM
    michsteve09 michsteve09 Jul 17, 2014 6:21 PM Flag

    The question is do you buy other ADR stocks? Why mess with Scottrade if they won't help their customers. I moved one account to TD and two others to Fidelity.

  • Reply to

    Scottrade customers

    by michsteve09 Jul 11, 2014 5:55 PM
    michsteve09 michsteve09 Jul 16, 2014 8:01 PM Flag

    Scottrade is too cheap to spend the money for its customers to file paperwork so you get the lower tax rate. Since they don't this you get charge whatever tax rate on dividends a foreign country charges. In this case it is a 30% Finnish tax. it is not Nokia of Finnish governments fault.

    I had found out last week that even though Scottrade does not do the paperwork pre-hand I figured if i brought the document needed to get certified they would do it for me so I could under my own process get my refund through Citigroup who is the company in charge for Nokia ADR. The paper had to be certified by the broker, well Scottrade refuses to do this for their customers. So basically they are saying they really don;t care about your loss. Now why would you care to remain a customer of them? Check for yourself, a lot of people are #$%$ they are getting a lot of customers coming in, how many will actually switch who knows. I would say if you keep them don;t buy foreign dividend paying ADRs. If you do buy them ask to own the shares in person then you would be able to file your own paperwork for the refund. It just is not worth the hassle, many other brokers in fact majority of them seem to do the right thing and file the proper documents for their customers so why deal with these hacks.

  • Reply to

    Cramer on NOKIA, sad !!!

    by hooo_cares Jul 9, 2014 11:40 AM
    michsteve09 michsteve09 Jul 16, 2014 6:07 PM Flag

    Tall dufus who was the neighbor of Seinfeld.

  • Reply to

    Scottrade customers

    by michsteve09 Jul 11, 2014 5:55 PM
    michsteve09 michsteve09 Jul 16, 2014 5:50 PM Flag

    Just got another letter from the lady who was trying to help me. All likelihood, Scottrade had in their contract wording that stated they would not be responsible for any claims against them for not filing the paperwork for foreign ADRs.

    You would have to be nuts to stick with this two bit shithole firm.

  • Reply to

    Scottrade customers

    by michsteve09 Jul 11, 2014 5:55 PM
    michsteve09 michsteve09 Jul 16, 2014 5:28 PM Flag

    Update today. So yesterday I call corporate and the person on the line says he will send an email to my local branch explaining the letter of indemnification/certification. I go to my branch and explain I want a letter stating that I am a US citizen and want to apply for a 15% refund of Nokia dividend. After about ten minutes the guy comes back and gives me my monthly statements which are useless. He says Scottrade will not provide a certified letter for their shareholders. So basically they told me to my face F you we don't care.

    Maybe they are angry that I am switching all my accounts. I don;t think so, they are giving everyone the run around on this they just don't care about you at all, so if you like getting ripped off stick with them. If you like better service move everything you own out of their brokerage.

    Now I will start looking for a lawyer, I just can;t see how they can turn you down like this when the Government themselves expect you to do everything in your effort to reclaim overpaid foreign taxes. Good luck to others maybe you can get a decent branch manager to help you they certainly did not want to help me.

  • michsteve09 by michsteve09 Jul 11, 2014 5:55 PM Flag

    I contacted Citi yesterday about how to go about getting our money back. I received a response today that I will post below. We can get a quick refund but we need Scottrade to certify we are US shareholders so the transfer company can get our 15% back. I call Scottrade and talk to a local branch which went ahead and contacted corporate. Corporate told them nothing could be done. They seem to be blowing this off. I shot off another email to the lady who gave me the directions below and asked her what forms I will need. When I get this info I will call Scottrade again and see if they will take care of this. If they refuse too then they really are shafting their customers and I believe with the Governments making these treaties we have a legit right for litigation against them. I was short time today but Monday I will also try calling other brokers and see if I switched my accounts if they could do the paperwork to get the money back. Since my TDAmeritrade broker did right by me they already probably know the routine and it might be easier. This isn't over yet I will post when I can get more info but I will be leaving Scottrade. My guess is they figure they may get a few angry customers but the smaller guys will not care if they are missing money. I have been shafted close to $3000 I will not let it drop especially when Scottrade run commercials with their customers first BS line.

    Here is the response:
    US individual IRA accounts are entitled to 15% withholding tax on dividends under Finnish/US treaty.

    Although your broker did not elect the shares to be paid out at 15% wht at source, these accounts are eligible for the “quick refund” process for Nokia 2014.

    We would receive back half of the 30% withheld in Euro. The USD amount is subject to fluctuation as the funds are converted to USD at the spot rate at the time of refund. A service charge of $0.01 per DR share with a $25.00 minimum is withheld upon payment.

    We would simply need the attached letter from Scott Trade indicating the US clients were holding at Scottrade on record date. The deadline to deliver the certified document to GlobeTax is October 31, 2014.

    The forms can only be certified by the broker of record, in your case Scott Trade. They must provide the cert letter on your behalf, or you can submit to GlobeTax once Scott Trade has certified your letter.

  • Reply to

    van90278 scottrade 30%

    by hooo_cares Jul 10, 2014 1:37 PM
    michsteve09 michsteve09 Jul 10, 2014 5:17 PM Flag

    The majority of my shares are in IRA accounts so I can't get the tax break on them. I will see how I can get it by filing the paperwork with Citi Depository.

  • Reply to

    van90278 scottrade 30%

    by hooo_cares Jul 10, 2014 1:37 PM
    michsteve09 michsteve09 Jul 10, 2014 5:14 PM Flag

    I definitely will and Scottrade is going to lose a lot of investors.

  • Reply to

    Finnish law on Dividends

    by nznoodles Jul 10, 2014 5:06 PM
    michsteve09 michsteve09 Jul 10, 2014 5:13 PM Flag

    But if you are an American citizen then there is a treaty that lowers the rate to 15%. Not sure about Canadians and if they have similar type of treaty for their citizens.

  • Reply to

    van90278 scottrade 30%

    by hooo_cares Jul 10, 2014 1:37 PM
    michsteve09 michsteve09 Jul 10, 2014 5:05 PM Flag

    It will cost me about $2300. We need to look into possible lawsuit against Scottrade. this is BS.

  • Reply to

    Here's What I Am Buying Now For Dividends

    by skeetz1234 Jul 9, 2014 10:55 AM
    michsteve09 michsteve09 Jul 9, 2014 6:08 PM Flag

    I came close to marriage then I woke up. I saved myself compared to all the others that got thrown under the bus. Government is in bed with women to ruin men, Don't play the game stay single and free.

  • Reply to

    Vegas, Foggie, Bill, how should we vote?

    by richard.schulze52 May 21, 2014 1:47 PM
    michsteve09 michsteve09 May 22, 2014 7:59 PM Flag

    I voted no to all choices. All investors should vote no across the board.

  • Reply to

    Wouldn't it be funny to close green...

    by bpy03 May 16, 2014 11:57 AM
    michsteve09 michsteve09 May 16, 2014 12:17 PM Flag

    Look at his born on date. These bashers are usually one or two guys with multiple aliases. Just use the ignore button and Yahoo should wake up. They should start charging $10 for every new account opened that wants to use the finance boards, I doubt we would have so many idiots creating multiple accounts if they had to pay for them, It would clean up message boards and make Yahoo a better overall experience and quality increase.

  • Reply to

    tanking every day now

    by seadreams1956 May 14, 2014 10:23 AM
    michsteve09 michsteve09 May 14, 2014 1:21 PM Flag

    EXCO should make a name change and call themselves Excrement. This company is garbage with the big guys invested you would think they would either completely wipe out management and start new or prepare the company for sale.

  • michsteve09 michsteve09 May 12, 2014 10:57 AM Flag

    This is Nokia board move your dumb #$%$ to the ALU board. Don't bother responding you're going on ignore for your constant ALU #$%$ on this board.

  • michsteve09 michsteve09 May 9, 2014 5:34 PM Flag

    They are winning all the contracts with no profits. Sooner or later that leads to either stock sales to raise cash or turning off the lights when no cash is left.

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