For all of the young Grasshoppers out there, patience, patience and patience Grasshoppers. As Kingdxxx and Charlidude have pointed out and there has been very little discussion on this topic of cash or stock. Why did these money people take ten million dollars of stock in WMIH instead of ten million in cash? For them to get their ten million dollars back or more, they are saying WMIH stock is worth at least $1.00 dollar a share with 200 million shares outstanding.
I think the answer in pretty simple as these are the same people who have the so called 'inside edge' and yet they take ten million of stock instead of cash. I base my decisions on people's actions and not on what they say. They are clearly saying that stock in WMIH is worth far more than the cash for them to keep their money tied up. As they say "follow the money" for the pot of gold and there is absolutely no doubt in my mind that these kind of 'money' people will monetize this company to the fullest extent possible. Thanks goes to Charlidude who posted this distribution list on the new board.
Hola Mr Sympson , recien vuelvo a enterarme de wamu , dime hubo reduccion en las comunes y en las wampq, ya me entero que no desean recibir dinero desean en acciones eso esta mas claro , dichas acciones tienen mucho valor , te agradecere me pongas en autoscual es el nemonico de las nuevas acciones ? gracias
OK, so I will preface this with a slow Saturday and not much going on so unless somebody was part of the mediation, nobody here knows exactly how this will play out so I will offer a thought. Albeit, maybe with some rose colored glasses but the thought is still based on facts of what has happened in this case and then of course the unknown which is the future. I still find it very hard to believe that all we received is a NEWCO with worthless reorganized stock, a little cash and billions of tax attributes that many people want one to think is worthless too.
For some reason with nothing to back up with other than what is already known, I think there is more coming and more than meets the eye. This can happen a number of ways meaning more to come and if there is we will not see it until six months plus post effective date of March 19th, 2012. One can easily say the reason Susman did what he did is because of "equitably moot" and the same people use this same term for the other settlements with DIMEQ, TPS and others. IMHO, any one of these people could of held e press conference just like Rosie did all along and/or release information to the press whether on the sly or not. None of this happened and I just do not believe a group such a Susman just rolls over and says please continue the unwanted rape of innocent people's careers, investments, retirement and income. Let's look at some facts.
• Hedge funds fought voraciously for and lost NEWCO indirectly
• Hedge Funds waged a four year long battle for a worthless NEWCO and still own 70% of worthless NEWCO-WHY
• Susman was quick to agree and was eager to enter mediation
• Only certain people were allowed to enter mediation
• Keep in mind WAHUQ up to a year to release-Why if this was to be all over quick-Could also be more for people who released 1 yr post release
• Before the final date to exchange old stock for reorganized stock-Huge volume in the last five to eight trading days-Another why at this time
• Susman struck down the original deal equity made
• Susman agree on deal for NEWCO with no excess liability post effective date of 3/19/2012
• Equity receives 75 million cash, one hundred plus million dollar loan plus billions in tax attributes
• No liability for NEWCO post effective date plus litigation fund to sue third parties
• Walrath cannot control illegalities pre filing so potential billions in suits here-may or may not happen
• NEWCO agree to potentially issue five million preferred shares of stock-Again WHY, if not for a capital raise
Could there be a two prong settlement on what could have been agreed to in mediation but not to show up until an agreed upon date post bankruptcy exit? IMHO, of course there could be as anything is possible if it was agreed to in mediation. The two prong settlement could be monies show up for people who released prior to exit and the of course the second part is the reorganized shares which would share bases on success of NEWCO.
When one looks at how mediation worked where anything could be shown and said without fear of reprisal, then this is where the REAL DEAL was made to make this reasonable and/or more than reasonable. I know I have missed a good deal but I still feel that we are in for surprises and positive ones at that.