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

Se aprecia tu comentario camarada BESUGO

La suerte está echada y la victoria solo esta destinada a los duros de mente.

Chitón para los tocapelotas! :) :) :)

Próximo Hearing 23 Diciembre... ¿Noticias en Enero?

http://www.kccllc.net/wamu/document/0812229141125000000000001

BlueeFoxx Member Level Monday, 11/24/14 05:55:51 PM
Re: Large Green post# 408809

IMO.."THE ACQUISITION ANNOUNCEMENT IS COMING IN JAN 2015!" read on. You guys need to focus your attention on something that can actually happen with WMIH and not "the highly speculated escrows."

Remember... "Cutting one's own throat!"
I need to make a valid point to this board, since I am limited, I have to do it with a longer post, so I can get the info in for the day. (Sorry for this) I have to apologize, but for now, it is how I can communicate with the board. "If the month of Jan 2015 passes without an acquisition announcement, I will concede, I am wrong." I will not keep moving the date to "try and always be right." I will simply say "I was wrong, however, I feel I am 90% right on this." Here goes..

Now as many of you know I posted a NOL post on Friday, that has some very interesting language in it. I will use what I found to make my point. The "white paper" is a very good reference to NOL's and should be taken very seriously by this board.
In this NOL paper is the following language (Page 4) that pertains to WMIH with the ownership change restriction (IRS 382) on the use and validity of the NOL's. (WMIH's largest asset)
http://scholarship.law.wm.edu/cgi/viewcontent.cgi?article=1005&context=tax

What are the "Testing Period" and the "Testing Dates"?
(
• Testing Period. The "testing period" is generally the 3-year period ending on the "testing date." I.R.C. § 382(i)(l). lf the NOL and NCL carryforwards have not been in existence for the entire 3-year period, then the "testing period" will begin on the first day of the first taxable year in which the NOL or NCL carryforwards arose.
I.R.C. § 382(i)(3). However, if the loss corporation has a net unrealized built-in loss (on the testing date, the 3-year testing period will only be shortened to begin on the first day of the taxable year in which the net unrealized built-in loss first accrued, if that date is earlier than the date on which any NOLs or NCLs arose. Treas. Reg.

§ 1.382-2T(d)(3)(ii).
Example 5. As of January 1, 2007, Company had no NOL or NCL
carryforwards and did not have a net unrealized built-in loss. During 2007, the value of Company's assets decreased such that it had a net unrealized built-in loss. As'of January 1,2008, Company had no NOL or NCL carryforwards, but it . continued to have a net unrealized built-in loss. As of January 1, 2009, Company had NOL carryforwards from its 2008 tax year and continued to have a net unrealized built-in loss. On July 1,2010, an individual acquires 5% of Company's stock. July 1,2010 is the testing date, and Company continued to have a net unrealized built-in loss on the testing date. The "testing period" for purposes of section 382is two and one-half years and will begin on January 1, 2007, the first day of the taxable year in which Company's net unrealized built-in loss first accrued.

It's all right here for you, if I am right.. Because the NOL's from the abandonment of the WMB stock estimated at 5.95 Billion and locked in because of the 2-year "continuity of business" rule, WMIH has a very valuable asset that will continually help it to grow. I have always felt that this BOD is waiting on the 3-year testing period to expire before it makes the acquisition and issues the stock to KKR. We have waited a very long time for this to occur, but if this BOD is waiting on this testing period to expire, so it can make an acquisition that will not jeopardize the NOL's then the date is Jan 1, 2015. In the example above, I will show how it pertains to WMIH.

Worthless Securities
Finally, special rules apply to the write off of worthless securities or their "abandonment." Under IRC section 165(g), if a capital asset share becomes worthless during the taxable year, the resulting loss is treated as a capital loss on the last day of that year.

1. On March 20, 2012 (abandonment of WMB stock date) the company had a 5.95 Billion NOL. Because it was in 2012, the testing date was pushed back to Jan 1, 2012. (the first day of the taxable year)

2. On Jan 1, 2014 the continuity of business "2-year NOL lock-in date" was reached. We all believed it to be March 20, 2014. We were wrong, this is why KKR came on board in Jan 2014 and was issued the warrants and preferred stock. Because our NOL's are our largest asset and KKR wanted to make sure BOD did nothing to jeopardize them.

3. On Jan 1, 2015, the 3 -year restriction on an Ownership change and unrestricted NOL usage "testing period" will have been reached. This date is very important, because it will allow WMIH to breach the 5% ownership rule requirement. KKR wants to own 42.5% of WMIH in the future we gave them warrants to help them get there.

KKR deal... On Dec 9, 2013, the BOD of WMIH made an announcement that they had found a "strategic investment partner" (SIP) in KKR a large private equity fund that is publicly traded on the NYSE. On Dec 13, amid shareholder opposition, KKR announced that it would "buy back" and take private the publicly traded KFN (KKR Financial) company into the parents fold, to be over seen by the BOD of KKR.

KKR Financial Holdings LLC is a specialty finance company with expertise in a range of asset classes. KFN's core business strategy is to leverage the proprietary resources of its manager with the objective of generating both current income and capital appreciation. KFN executes its core business strategy through its majority-owned subsidiaries. KFN is externally managed by KKR Financial Advisors LLC, a wholly-owned subsidiary of KKR Asset Management LLC, which is a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. Additional information regarding KFN is available at http://www.kkr.com

Why would KKR want to take its financial company off the NYSE and into the parental fold? I have "speculated" it is because they wanted the large financial company back under the parental fold, so they could invest in other companies through strategic partnerships without regulatory oversight. Here's one.

NEW YORK, Jan. 16, 2014 /PRNewswire/ -- Lease Corporation International ("LCI"), a Libra Group company, and KKR Financial Holdings LLC (NYSE: KFN) ("KFN"), a specialty finance company managed by a subsidiary of KKR & Co. L.P. (NYSE: KKR), today announced that they have entered into a definitive agreement under which KFN has agreed to invest in excess of $100 million in LCI Helicopters Ltd ("LCIH"), the helicopter leasing subsidiary of LCI, in exchange for a minority stake in LCIH's common equity. The strategic investment will allow LCIH to grow its fleet significantly and advance its leadership position in the rapidly expanding helicopter leasing business

http://media.kkr.com/media/media_releasedetail.cfm

WMIH announcement will look like the LCI one, we already know they want 87M in stock to begin with, how much more in Preferred stock will also be in the deal will be anybody's guess at this point.. Our Deal closed on Jan 30, 2014 with KKR buying 10M in Preferred stock and eventually 71M shares of WMIH at $1.38 PPS. Once this occurs, WMIH will have 273M O/S and 87M in cash from equity sale. The pendulum of KKR ownership will shift. This can not occur until WMIH has passed the "testing period" Jan 1, 2015. IMHO...KKR has pledged up to 1 BILLION investment in our little shell in the future. We just do not know who the target is yet?
Moving on....

Because the prices of warrants are low, the leverage and gearing they offer is high. This means that there is a potential for larger capital gains and losses. While it is common for both a share price and a warrant price to move in parallel (in absolute terms) the percentage gain (or loss), will be significantly varied because of the initial difference in price. Warrants generally exaggerate share price movements in terms of percentage change.
How this pertains to WMIH...

Is KKR willing to purchase 71M In WMIH shares at $1.38 PPS when the PPS of WMIH is $3.50 PPS this would generate a "capital gain of 150% The PPS of WMIH has to come down and the best calculation for KKR is 20% gain, which puts us exactly at $1.65 PPS, where this stock went to and bounced hard. So at $1.72 it is 25% cap gain, at $1.80 it is 30%. Get it yet? What is the best cap gain deal for KKR in terms of PPS? How does KKR keep from having an Exercise Price instant gain on the warrants they will be responsible for in the year of the exercise? We know WMIH can not issue the stock until it has passed the 3-year date, but why announce KKR deal in Dec 2013, if they had no intentions of doing any acquisitions in 2014. HUM... Well maybe they did, but KKR did not want that huge gain on its balance sheet, so they needed to wait until 2015 to make that large of an investment in WMIH for KKR tax reasons. They did do the Helicopter Leasing and Train Leasing investments in 2014.

"Will WMIH increase back to the $3.50 PPS without an acquisition announcement?" NO WAY JOSE'
a holder of a warrant does not have any voting, shareholding or dividend rights. The investor can therefore have no say in the functioning of the company, even though he or she is affected by any decisions made. KKR has challenged any proxy to remove or elect a new board member to WMIH with the "option to elect their own candidate." Tagar Olson, KKR's Head of Financial Services, has been appointed an observation seat on WaMu's board of directors. Mr. Olson would not be on the board unless plans were in motion. If we were to try and remove a board member, I am sure KKR would move to elect Tagar to the board as a replacement, instead of equity getting a different one. This provision in the KKR deal seals the current board members jobs.

A Bittersweet Stock Jump
One notable instance in which warrants made a big difference to the company and investors took place in the early 1980s when the Chrysler Corporation received governmentally guaranteed loans totaling approximately $1.2 billion. Chrysler used warrants - 14.4 million of them - to "sweeten" the deal for the government and solidify the loans.

Because these loans would keep the auto giant from bankruptcy, management showed little hesitation issuing what they thought was a purely superficial bonus that would never be cashed in. At the time of issuance Chrysler stock was hovering around $5, so issuing warrants with an exercise price of $13 did not seem like a bad idea. However, the warrants ended up costing Chrysler approximately $311 million, as their stock shot up to nearly $30. For the federal government, this "cherry on top" turned quite profitable, but for Chrysler it was an expensive afterthought. Government does not pay taxes!

Same for WMIH, if KKR cashed in the warrants in 2015 with WMIH PPS at $3.50 the warrants would cost WMIH $2.12 PPS at 71M = 150M in terms of equity valuation and would dilute the shareholders. At $1.80 it only costs WMIH 30M. When the deal is announced for KKR to exercise the warrants and an acquisition is announced, WMIH is going to experience a huge jump in PPS. well above the highest pps it has seen since existence. KKR will need to exercise the warrants on the announcement date, to keep from having a massive cap gain. This has to happen in Jan 2015, because of the 3-year testing period. It is for this reason, that 2014 is "off the table."

That's my take...

Cheers
Blue
http://www.investopedia.com/articles/04/021704.asp

Ya eatamos poniendo novelas con teorias de cuando deberia valer. Vale realmente 4 veces menos que el precio actual, eso en el caso de que no entren en perdidas en barrena.
Pasó con WMIH y volvera a pasar con la nueva porque la manipulan los mismos.
Antes de un año estara por debajo de 1 dolar, solo esperar para ver.

¿Y si valiera 4 veces más que el precio actual Besugo? ¿Que pasaría?
¿Tienes la verdad absoluta sobre todo lo que opinas? o a veces la vida te depara sorpresas...
No nos deis por muertos hasta que la música no deje de sonar... yo noto una corriente muy diferente a la pesimista de "Se hunde el Titanic"

Yo tengo mis argumentos para que baje:

El precio contable es 4 veces menos.

El acuerdo de KKR si es papel mojado la hundirán hasta el subsuelo.

Cuales son tus argumentos para que se multiplique x4?

A ya que KKR va a utilizar la empresa para los NOL y evitar pago de impuestos.

Si fuera asi porque cada vez esta mas hundida???????????????????

Y si lo hacen antes van a diluir la acción con lo cual lo comido por lo servido.

Las acciones USA están subiendo mientras esta se hunde como el Titanic.

A eso le has de sumar que en el consejo de administración tienen a un sinvergüenza por Presidente

Sin mas comentarios

Besugo: En abril de 2015 te respondo lo que somos o dejamos de ser.
Disfruta de Diciembre y Enero como voy a hacer yo.

Equipo de Tagar Olson, miembro y cabeza de KKR Financial Services declaró: "nos sentimos complacidos de finalizar esta inversión y esperamos trabajar con la compañía mientras continúa creciendo y diversificar su plataforma. Como socio de capital a la empresa alineó un largo plazo, creemos que KKR está bien posicionada para ayudar a crear valor para los accionistas".

El 30 de enero de 2014, KKR (i) compró aproximadamente $ 11 millones de valor nominal de acciones preferentes convertibles de la compañía convertible en acciones ordinarias de la compañía por un precio de conversión de $1,10 por acción y (ii) comprometido a comprar hasta $ 150 millones monto principal agregado de subordinado notas de PIK 7,5%, que pueden ser emitidos en uno o varios tramos durante un período de tres años, cada una con un mandato de siete años desde la fecha de emisión inicial (las "notas subordinado"), sujeto a ciertos términos y condiciones. Prácticamente la totalidad de las ganancias de las notas del subordinado, si y cuando emite, se utilizaría por la empresa para financiar futuras adquisiciones. En relación con el compromiso, KKR ha recibido órdenes de cinco años para comprar aproximadamente 61,4 millones de acciones ordinarias de la compañía, 30,7 millones de los cuales tiene un precio de ejercicio de $1,32 por acción y 30,7 millones de los cuales tiene un precio de ejercicio de $1,43 por acción. KKR también tiene el derecho durante tres años a participar hasta un 50% en las ofertas de capital hasta una suma de $ 1 billón por la empresa sujeto a ciertas limitaciones, incluyendo una tapa sobre la propiedad por KKR del 42,5% del patrimonio común de la empresa.

Blackstone Advisory Partners L.P. actuó como asesor financiero de la empresa en relación con la transacción. Akin Gump Strauss Hauer & Feld LLP y Lane Powell PC son asesores de la empresa. Simpson Thacher & Bartlett LLP es asesor de KKR.