IRlier conveniently forgot to include Listing Standard No. 4, market cap based, which doesn't need any of those requirements, and "amazingly" doesn't need "employees, business plan" just assets, of which we have 10 time more than the requirement. See my posting from a few minutes ago for the full details.
What a typical "half truth" deception by ir. He "forgot" to include Listing Standard No. 4, which is the one WMIH will file under. No sales, employees, or business plan, are required :)
What is required is:
(1) Marmet cap of $160 million (we are clearly WAY bigger)
(2) Assets of $80 million (we have $600 million just in cash !)
(3) Stockholders’ Equity $55M (we have 10 times that!)
(4) Share price $4 (The day before we file, they will
make sure there is a large bid at $4)
That's why ir want to lie to everyone. We're all competing to grab as many shares as we can before this day. And we need someone to sell. So, if you believe his lies, by all means sell.
very funny IR. They don't have to be "interested". We have the $600M in cash, and we will buy what company WE are interested in. And Capmark is our "sister" company - owned by similar entities as WMIH and with a similar history (BK+NOLs+3 years waiting period). CPMK "predicts" what will happen to WMIH.
wait a bit, and you'll have asks in the 40's.
the question is "how low will she go ?"
Natural gas (dry and liquid) is crashing.
Please do. Lots of people don't know that their shares are rented out to shorters. The broker can use "slippery" language to evade the point (kind of like IR). But that's the fact. A if you don't specifically insist on "cash", you'de be surprised to find out the status of some (or all) of your shares is "margin". They might use slippery language like: "Since its under $5 it is not marginable". That just means YOU don't get credit for it (cannot borrow), but it does NOT mean they don't rent it out to shorters. The financial world is riddled with liars and "half-truthers", and we need to protect ourselves. Thank you for your effort !
HTB ("hard to borrow") usually means they charge a "rent" (often the brokers call it "interest") to lend other customers' shares out. You can call and they will tell you how much they charge. If it's 2 to 6 percent its not too bad. If it gets to 20+% it is really hard to short.
I don't mind paying the reasonable capital gains tax as long as I have a nice profit. I'm worried that If I were to keep WMB another year, I wouldn't have it anymore (and no tax "problem" as you say). While I don't think it will drop below 10.71, I do see it easily getting back to the 30's. In today's Dollars, that's actually the same as $10.71 when you bought it. After all, gold, silver, copper, aluminum, they are ALL around three times the price, in U.S. Dollars, they were in 2003. Just oil (WTI) is "only" twice the 2003 price due to the recent temporary 50% crash (for political reasons, fighting Russia and Iran). By the way, if you want to keep it until you die, then if you have an MLP, you never have to pay tax on the dividends (technically called "distributions"). With WMB you pay on the distributions every year.
I hope you're smart enough to take the money and run. Otherwise, over the next 3 months you will give it back (and more). You can buy MEP, it's a smaller version of WPZ but with honest management. It will grow and be bigger than WPZ in 10 years. Meanwhile 10% distribution and has been raised every quarter, with never any "merger" cons.
They're not giving $55.80 for each share of WPZ.
They're giving 1.115 shares of WMB for each share of WMB.
They use the 55.80 number based on the price of WMB that day, which was $50.
If WMB drops to $40 (very likely, in my opinion), then effectively, each share of WPZ will get the equivalent of $44.60, assuming you're able to sell your WMB before it drops even more. I'm guessing a lot of WPZ owners will figure out how badly they were screwed only after the fact, and dump. Just like the previous "merger" they did, it took lot of people a month or more to figure out they got shafted badly. Maybe when they got their new distribution they realized it was 20% less han they thought. Well, the next distribution, after this merger, will be even less. Much less.
Yes, I agree. That was the "straw that broke the camel's back" in my decision to sell. I still like WMB, just the valuation is inappropriate at these levels. I hope to buy back at $40.
While those two travesties are very disturbing, I think there was something even more disturbing (especially personally for us): That these thieves were allowed to "legally" steal the smaller banks that were competing with their oligopoly. JP Morgan stole WaMu, BofA stole Countrywide, Wells Fargo stole Wachovia. Only Citibank, didn't give enough bribes to politicians, so didn't get to steal a good bank the the others. By the way, I was very familiar with the operations of WaMu, Countrywide, and Wachovia, which were all wonderful banks, and were aggressively eating up market share from the degenerate big banks, so I can understand why they were threatened enough to pay the politicians anything they wanted to be able to steal them.
The only POS around here is you. $3 billion is a bargain for WMIH.
We received $600 million this year from a group of investors lead by KKR and Citibank, and will receive $1 billion next year. And I cannot even estimate the following year. Tagar Olsen, KKR executive, received 1.777 million shares of WMIH, which are restricted to be sold by him at market price (which will be above $5) only AFTER these events unfold. MEanwhile, you're still trying to scrape a few thousand shares from widows and orphans of WaMu victims. Shame on you, leach.
I still can't really understand: WHO is supposed to pay DIME their hundreds of millions of $$ ? Also, does this mean they forfeit the WMIH shares they received in liu of this money ?! It all seems bizzarre - we're obviously missing some info.
Will go back to the 40's after the "merger" with WPZ. This is all "financial engineering". WBM pays WPZ a 20% premium by printing WMB shares. Overall, WMB and WPZ still have the same capital equipment (pipelines and gas processing plants), its just that after the merger, (ex) WPZ owners will own a 20% larger share of the pie, at the expense of WMB shareholders who will own a smaller share of the same pie. To compensate, management promises to increase dividends, but I'll bet after a year, they will come up with another financial engineering scheme to confuse and obfuscate that the distributions will actually go down instead of up. I liked WMB at $40, but this is WAY overpriced. I'M OUT !!! See you at 40 :)