Washington Mutual demanda a la FDIC por 17 billones US$ + daños

The Meeting:

1. Totally about 40 people in the room (as Myadad mentioned, about 25 are shareholders)

2. MW remarks:
we made $338K profit in 2013. debt is reduced from $110m to $3m. we are committed to execute our strategy in a prudent and ?? manner.

3. CFO report:
Primary strategy is one or a series of acquisitions. NOL is $5.97b. 2014 profit will go up

Q/A session:

Q1 (Carlson Capital (?)): What would be our target industries?
A (MW): not limited to any particular industry

Q2 (SH): What is the company we acquired last year?
A (MW): We didn't acquire KKR. KKR is a partner. As for future target, financial company is one of our focuses.

Q3 (SH): Do we still have Bank Charter?
A (MW): No.

Q4 (SH): Didn't get docs from WMIH last year. Can you help?
A (MW): we'll try to do better. There will be a company website for all docs.

Q5 (SH): Is it possible that the NOL will increase?
A (MW): I don't believe so.
A (CFO): We have all that in 10-K. Potentially the number could change depending on IRS. MW: change which way, up or down? CFO: either way. but we're pretty comfortable with the $5.97b number.

Q6 (SH): What could be the size of potential target?
A (MW): We've looked at many, many opportunities.
A (Eugene): the strategy committee has met 40 times this year, met extensively with KKR too. We got to be careful and need to have capital available. There are many companies for sale, but we got to be qualified to bid. Some companies we looked are too small, or too complicated. When we bid we need show cash. Whatever we do will be complex involving debt, etc. (not sure if he said this: we're looking at some opportunities now). Our hands are highly strengthened with the KKR deal. Now more people talk to us. They won't talk to us a year ago.

Q7 (SH): Is the $150m from KKR drawn?
A (MW): No. It'll be drawn only for acquisition.

Q8 (SH): Are we going to move from Pink list to NYSC?
A (MW): We don't guarantee to list anywhere. But if we grow big, then yes someday.

Chat with MW after the official meeting:
1. MW stressed that acquisition will be well planned, strategy be carefully executed, for long-term growth.
2. I asked about size of potential acquisition and threw 2 numbers: $500m and $1b. He said he couldn't answer but said "we're moving the needle". I do feel that $500m-$1b is not out of reach (totally my 8-ball).
3. MW took a flight @3am (yesterday?) from Texas to be in this meeting.
4. MW mentioned that he'll be in hotel for the rest of day and is open to more chat with SHs.

Thanks to all!

Wahuq reconvertidas a Obligaciones con vencimiento año 2030.

a 4.21 dolares cada accion pagan 13% anual - Liquidando trimestralmente menos tasas

Esto que se pierde el listo de Simpson alias Macnaman y Kalakala.

Simpson seguro que las WMIH se van a 20- ? Jajaja

Besugo como se nota que has cobrado !!
Anda sal y gastate un poco que 27 meses sin ver un pavo te han dejado trillado y ves nicks fantasmas por donde pisas.

Ya, pero cuando bajan no sales ondeando la bandera, Jajaja :)

Me preocupa menos el precio de la acción que el feedback positivo que hemos recibido de los accionistas que han ido a New York. Disfruta tu rendimiento que ya te tocaba.

Gracias por la información Besugo. Lo único es q imagino q no se podrán vender, verdad?

No pueden venderse al haberse transformado en obligaciones pero la remuneracion compensa la inversion a largo plazo.