Earlier posts from dred scott on IHUB 13-Mar-10 10:22 am
<<Posted by: dred scott Date: Tuesday, February 09, 2010 8:39:14 PM
In reply to: oilstrike who wrote msg#
149059 Post # of 150007
I am a bankrupctcy consultant. I have seen companies like General Growth Properties (GGPWQ) go from .34 cents to 12 dollars and no major media covered it until a another major mall operator spoke of buying the company, Bill Ackman was on Youtube, CNBC etc. he did a proposal about why GGPPWQ was was valuable etc.
I have been a consultant in bankruptcies such as the R&B group TLC, producers Teddy Riley, Carlos Broady, and the infamous Death Row Records and others
The major media totally ignors stocks in BK, also Michael Moore made no significant mention of Wamu in his film, everyone is protecting the govt entities, they have to settle soon.
I have seen some really incredible strategic moves in bankruptcy, some good books to check out are
1) Strategic bankruptcy-Kevin j Delaney
2) The Phoneix Approach-William j. Grace
Posted by: dred scott Date: Wednesday, February 10, 2010 2:14:54 AM
In reply to: A deleted message Post # of 150007
THE FOR SURE WAY TO KNOW THE WMI CASE IS ABOUT TO END/SETTLE
When debt buying companies start buying WMI claims and tons of Court Docs say TRANSFER OF CLAIM, that is when We will KNOW settlement is REAL near. (Companies like Sierra liquidity Fund, LLC and others) These debt buying companies were MAJOR debt buyers in the General Growth Properties bankruptcy Case, check out the number of transfer of claims in that case buy debt buying companies
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I have been following this board for about 90 days I decided to start posting info today, I am sure plenty of people follow this post and have yet to post anything.
Now that the case is coming to an end soon I feel I have something to add like so many others, we as a group are a powerful force.
for the record I own bonds, Common and Preferred shares.
I have personally bought unsecured debt in bankruptcy cases and made 50X my money, this is a VERY smart collective of people on this board and this is RARE, usually VERY few people read BK docs, understand what is going on etc.
I'm not a lawyer but trust me there we be NO ruling, it will be a settlement, JPM Nor the FDIC can let this case go any further.
A lot can happen in bankruptcy Cases, but this case is all about the equity committee’s ability to extract a good settlement, i have confidence in them, we will not get screwed.
I was disappointed that WMI inc was going to settle and leave shareholders out if they could have, they FOR SURE left the IRS debt in the case fore that reason, how can you have 20 Billion plus in NOL's and owe the IRS? it's all a game
NOL's can be carryback 5 years for refunds and/or 20 years for tax credits, JPM could merge with WAMU INC and get credits of 20 Billion, settlement will probably be in the 25-30 Billion Range.
CNBC is not covering opportunties like this, they have people like Cramer pumping stocks and playing the lotto basically, none of these people saw the crash coming? they tell us to invest BLINDLY into a 401K, and THEY pick the stocks basded on is they are small, medium or large in size?
Apple was SMALL in the 80's and Enron was BIG in the 90's, blockbuster was BIG in the 80-90"s, it's insane and 90% of brokers and "advisors" have the same pitch, this board as a collective is 10X smarter than any broker, the mass media will jump on AFTER the settlement is made.
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To the Bashers
Is your En good enough to understand above mentioned ?
Regards