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July 18th Update
So... nothing definitive as far as a return date but we are in the process of taking more steps toward that goal. Chelsea was a very, very sick girl for a long time... and became even more so once she was finally diagnosed and had to spend almost a whole year on a feeding pump. On top of that she's had invasive surgery which would, even in the healthiest of people, lead to a significant recovery period.
With that being said, Prof. Sandmann has done an excellent job with the surgery and it's amazing to see Chelsea eat food again. The down side is that the recovery period is going to take much longer. Prof. Sandmann and I have been in consults with Prof. Hoyer who is a pediatric nephrologist and Director at the Universitäts-Kinderklinik regarding the problems with orthostatic intolerance causing weakness, nausea, vomiting, and fainting.
Today's discussion led to the decision that Chelsea will best be helped by being admitted into a... rehabilitative facility... but this is not like what we have at home. It's a multimodal approach for overall health and well being so the focus is not physiologically based toward one specific ailment, but rather to allow her to have the daily therapies that she needs to manage all of her diagnoses.
The time frame mentioned to me today was 4-6 weeks... not in stone though of course as both professors are consulting with colleagues to determine where Chelsea's needs might best be met, and of course determine if there is availability.
The most important thing is that Chelsea is healthy and strong enough to return to school in the fall.
So, doesn't look like we're going to make that flight home on July 31st.
Hope to post another update on Friday...
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#0000ff">Übersetzung ranger100 (ohne Gewähr):
http://www.businessweek.com/news/2012-07-19/...p-as-fundraising-looms
TPG Said to Seek Oregon Partnership as Fundraising LoomsTPG Capital, trailing rivals that struck partnerships with large U.S. public pension funds, is seeking to secure its own big-ticket investor, according to two people with knowledge of the matter.
For the past year, TPG co-founder Jim Coulter has been meeting with officials from pensions to win a large backer for a separate account, said one of the people, who asked not to be identified because the talks are private. The firm has talked to the Oregon Investment Council about such a deal, though an agreement isn’t certain, said the people.
TPG, which plans to start raising its next buyout fund in 12 to 18 months, is seeking to join other buyout firms in securing more permanent capital from a large backer as buyout funds are shrinking for the first time in the industry’s history. Blackstone Group LP (BX) (BX), Carlyle Group LP, KKR & Co. (KKR) (KKR) and Apollo Global Management LLC (APO) (APO) have all paired up with at least one major U.S. pension, drawing commitments as large as $3 billion. In such deals, investors write big checks and back multiple strategies at one firm in exchange for better terms such as lower fees.
“Ideally, it’s a way for firms to get permanent capital, and a lot better than having to raise it all the time,” said Michael Forestner, who helps advise large institutions at New York-based Mercer LLC. “Managers realize that pensions will ask for special terms and fee breaks anyway, why not get something out of it?”
Fort Worth, Texas-based TPG would use the money from a future partner to invest in opportunities outside of its existing funds, according to one of the people. TPG, known for investments in companies such as Burger King and J. Crew Group Inc., has about $51.5 billion under management, according to its website.
Michael Mueller, the interim chief investment officer at the Oregon pension, declined to comment on whether the pension has discussed a separate account with TPG. The fund is regularly in talks with firms over potential investments, he said.
Owen Blicksilver, a spokesman for TPG declined to comment.
TPG’s 2008 fund hadn’t produced a profit for investors as of March 31, according to data from the Oregon pension fund. That fund and its 2006 predecessor, whose holdings are valued below cost, are suffering from a 2008 investment in failed lender Washington Mutual Inc. In total, TPG’s funds lost about $1.3 billion when the bank was bailed out that same year at the peak of the credit crisis.
Among TPG’s top-performing funds is the pool it raised in 2000, which has produced a 2.45 times return on invested capital, according to data from Oregon.
Separately managed accounts are reshaping the model for the biggest private-equity firms, which traditionally pooled money into funds with the same terms for multiple investors, such as a 2 percent management fee and as much as 20 percent in a share of profits known as carried interest.
Those funds are shrinking for the first time as investors have become more selective about which firms to back since the 2008 financial crisis. There is also more competition for a smaller pool of investor money, with 1,872 private-equity firms collectively seeking $801 billion from investors, according to data from London-based Preqin.
KKR is seeking $10 billion for its newest flagship fund, 43 percent less than it raised for its predecessor. Blackstone has finished raising its latest buyout fund at $16.2 billion, a fifth smaller than the prior fund.
Separately managed accounts can allow private-equity firms to deploy investors’ capital into deals outside existing funds. Joncarlo Mark, formerly a senior portfolio manager at California Public Employees’ Retirement System, said investors should be aware of potential risks.
“Typically, investment mandates in big buyout funds are broad enough that managers can invest in almost anything,” said Mark, founder of advisory firm Upwelling Capital Group in Sacramento, California. “Since there’s a lot of flexibility already, investors should be cautious about whether separate account money goes toward investments that are consistent with their risk-adjusted return expectations. One bad deal could eat all the fee savings of the separate account.”
Calpers, the largest U.S. public pension plan, pioneered the model of special partnerships with managers a decade ago. The earliest of these deals resulted in Calpers owning a stake in the managers themselves. By 2008, Calpers had amassed ownership shares in Silver Lake Partners, Apollo and Carlyle.
ich mache mir (und uns) da keine großen Hoffnungen, da auf ihub schon gestern ca. 22.30 Uhr das Bid / Ask diese Werte hatte.
WMI Holdings Corp. Retains Blackstone To Assist With Acquisition Strategy)
SEATTLE, July 19, 2012 /PRNewswire via COMTEX/ -- WMI Holdings Corp., (OTC:
WMIH) ("WMI Holdings" or the "Company"), formerly Washington Mutual, Inc., today
announced that it has retained Blackstone Advisory Partners L.P. ("Blackstone")
to assist the Company in developing its acquisition strategy and to provide
financial advisory services in connection with potential transactions.
Under the terms of the agreement, Blackstone will work with the Company to
consider potential mergers, acquisitions or business combinations. Blackstone
will assist with developing an acquisition strategy, identifying and evaluating
strategic opportunities, collecting and analyzing information regarding
potential target companies, determining the valuation of potential target
companies and advising on capital raising, if needed, to fund this external
growth strategy.
Michael Willingham, the Company's Chairman of the Board of Directors, stated,
"Having successfully emerged from bankruptcy, WMI Holdings has substantial cash
and access to a $125 million credit facility to support a growth strategy
through acquisitions and organic initiatives. We look forward to working with
Blackstone to evaluate and pursue such opportunities."
There can be no assurance that any transaction will occur or if so on what
terms.
Blackstone, which served as an advisor to the Company during the pendency of the
Company's chapter 11 proceedings, is one of the world's leading investment and
advisory firms. It provides financial and strategic advisory, restructuring and
Copyright (C) 2012 PR Newswire. All rights reserved
PEACE-Ts
Washington Mutual plans to come back to life
(Reuters) - The company formerly known as Washington Mutual Inc is back in business after going through bankruptcy.
In an unusual step for the parent of company of a failed bank, WMI Holdings is considering buying companies or starting businesses up itself. It has hired Blackstone to advise it, and has lined up a $125 million credit facility. It said it has "substantial cash" as well.
Based in Seattle, Washington Mutual once had $307 billion in assets and was one of the biggest corporate casualties of the 2008 financial crisis. It remains the largest U.S. bank or thrift to fail.
Regulators seized the lender on Sept. 25, 2008, and arranged the sale of its main banking operations that day to JPMorgan Chase & Co for $1.88 billion. Washington Mutual's holding company filed for bankruptcy protection the next day.
The company exited bankruptcy in March, after nearly three and a half years of court battles. Blackstone had served as an advisor to the company during its Chapter 11 proceedings.
WMI Holdings's assets include a unit that is winding down a Washington Mutual reinsurance business.
www.reuters.com/article/2012/07/19/...lackstone-idUSL2E8IJLRC20120719
(Reuters) - The remnants of Washington Mutual Inc, the biggest U.S. bank to fail, has hired Blackstone Group LP to advise it on how to grow -- possibly in a business other than banking.In an unusual step, WMI Holdings, the parent company of the failed bank, is considering buying companies or starting businesses using a $125 million credit facility, "substantial cash" and advice from the Wall Street private equity company.
WMI has not decided what it would buy and the target may not be a financial services company, sources familiar with the situation said.
The idea is to find a good management team and a profitable operating business that can be grown, the sources said, adding that the process was still in the initial stages.
One attraction for the company is its net operating liabilities, or NOLs, which can be used to reduce the tax bill for a profitable business, the source said.
But for that WMI would have to be the buyer, as NOLs do not carry over if the company that holds them is acquired, the source said.
"It could create a lot of value to buy a business," the source said.
Based in Seattle, Washington Mutual was 119 years old when regulators seized it on Sept. 25, 2008, at the height of the financial crisis. With $307 billion in assets, it was one of the biggest corporate casualties of the crisis, alongside Lehman Brothers Holdings and Bear Sterns, and remains the largest U.S. bank or thrift to fail.
Regulators arranged the immediate sale of the main banking operations, known as WaMu, to JPMorgan Chase & Co for $1.88 billion. Washington Mutual's holding company filed for bankruptcy protection the next day.
The company exited bankruptcy in March, after nearly three and a half years of court battles. Blackstone had served as an adviser to the company during its Chapter 11 proceedings.
The assets of WMI Holdings include a unit that is winding down a Washington Mutual reinsurance business.
...man beginnt natürlich nicht von vorne sondern akquiriert ein funktionierendes, profitables Unternehmen.
Ein bißchen enttäuschend natürlich dass man 4 Monate nach effective date gerade mal so weit ist, eine Beraterfirma zu kontaktieren. Die kosten natürlich ne Menge Geld, aber offenbar ist Willingham doch nicht mit "dem VW-Chef" zu vergleichen, und man braucht ein bißchen professionelle Hilfe.
Dass es mit Blackstone dieselbe Firma ist, die im Chapter 11 Verfahren für die debtors gearbeitet hat und, weil sie einen so niedrigen Wert für die reorganisierte Gesellschaft ermittelt hat, vom EC bekämpft wurde, ist ne überraschende Zugabe.
Mal sehen was das nun in Wamuianerkreisen für Kommentare hervorruft...
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57 | 14.248 | █ Der ESCROW - Thread █ | union | rübi | 16.03.26 10:53 | |
| 10 | 1.605 | WMIH + Cooper Info | Orakel99 | Malecon71 | 16.03.26 08:22 | |
| 60 | 68.942 | Coop SK Tippspiel (ehem. WMIH) | ranger100 | rübi | 13.03.26 12:20 | |
| 162 | 87.090 | COOP News (ehemals: Wamu /WMIH) | Pjöngjang | lander | 02.01.26 23:32 | |
| 349 | 198.956 | Wamu WKN 893906 News ! | plusquamperfekt | union | 31.12.25 14:59 |
