WAMUQ -- Your Guide to Early Retirement

[chudsosoft]

The only thing I wonder about is that March 22nd date, when Chase employees have to have all their old WAMU stock moved to Chase. It seems to me that JPM would try to do everything they can to push a settlement back until after the 22nd, that way they wouldn't have to pay their employees millions of dollars for owning WAMU stock. Then again, maybe they are just ready to be done with it?

Should be interesting tomorrow!

I bought WAMUQ over a year ago and have been following this thread for a while. I registered just so I could post this because I'm obviously missing something if nobody else has had the same thought:

I don't see how JPM restructuring former WaMu employees' retirement plans has any relevance. Why should JPM care who owns WAMU stock? The shares aren't going away. JPM doesn't save any money by making employees sell their WAMU stock before a settlement goes through. The perception that this has any effect on a settlement doesn't make sense to me. What would JPM gain from blatantly screwing their employees like that?

 

[PeterGriffin]

I bought WAMUQ over a year ago and have been following this thread for a while. I registered just so I could post this because I'm obviously missing something if nobody else has had the same thought:

I don't see how JPM restructuring former WaMu employees' retirement plans has any relevance. Why should JPM care who owns WAMU stock? The shares aren't going away. JPM doesn't save any money by making employees sell their WAMU stock before a settlement goes through. The perception that this has any effect on a settlement doesn't make sense to me. What would JPM gain from blatantly screwing their employees like that?

Maybe I worded it poorly, but my point was that JPM isn't going to want to pay their employees for holding stock of the company that is trying to get billions of dollars from them in court. I'm sure they would rather have their employees holding Chase stock, since they now work for Chase. If JPM decides to settle with WAMU before the 22nd, any WAMU stock that their employees own (and anyone else who owns the stock, for that matter) would go up exponentially. If they wait until after the 22nd, it won't.

I don't see it as trying to screw their employees, they would just be saving themselves money by waiting until after the 22nd. I will freely admit, however, that I may be missing something about the process. I'm just going off of what I've read in the past.

 

[PeterGriffin]

Apparently the EC filed some new documents pretty late tonight. I'm guessing that means any chance of a settlement happening tomorrow, as small as it may have been, is over. It wouldn't make any sense to file new documents if a settlement had been reached.

I hope I'm wrong, but I have a feeling this is going to be a very long, drawn-out battle. I just don't believe that JPM is willing to roll over and offer a big settlement, and I don't think WAMU is willing to accept a lowball offer. I really think JPM is going to do anything and everything they can to drag this out as long as possible. If the settlement figures in question were lower, I think this would be done. But because this is such a big case, they're going to fight it tooth and nail.

Like I said, I really hope I'm wrong. I've already wasted way too much time following this case. :lol:

 

[jazwch01]

Im in the same boat as Chud, I have had this stock since a day before the bank bailouts were approved. It was like the day after they filed ch.11. It was in hindsight a really dumb move... that has turned out to be amazing. I have been following this forum since the beginning because I'll be honest, I know nothing about stocks. But Kuwl and a few others you know you stuff and I have actually learned from how you have handled this stock. And in regards to WAMU this seemed to be the most knowledgeable forum, or at least had articles to back up what they said. I only have 2,000 shares since its all I can barely afford to own(poor college kid lol) . And I have no balls or knowledge of how or when to flip the stock. Like everyone else I am trying to make as much as I can but in regards to end game I am a little confused as I think alot of people are since there is not a ton of precedent for this situation. If WAMU wins today what happens? The pps shoots up? or does the stock freeze at what ever it settles at? God forbid WAMU looses then what? It just disappears? or do we have time to get out and for those who bought early like I did still have a chance to turn a small profit?

 

[lax_gunman]

Whoever is listening today can they keep the board updated. I won't be able to listen and IHUB will prob be crawling at that point. Thanks.

 

[lax_gunman]

Bueller...Bueller

 

[ACE-ACE]

I ask my FA about this Stock

he has made me 19% on my money last year


he said:;
I think Wamu is the tip of the
iceberg.
Alot happened as the banking sector almost took us into depression. The
baby got thrown out with the bath water in several cases.

 

[sportsfreak]

Hearing delayed a few minutes. We were in, then they asked to put us back on hold as they are still finishing up the 9:30am case.

 

[kuwlness]

Some guy over at i-hub is doing live txt messaging from the court room ... regular updates on the i-hub board. Look for posts with Rickster in the headline.

 

[lax_gunman]

Ok so far on ihub they're saying, they've gone to chambers and put listeners(over the phone) on hold.

 

[lax_gunman]

Okay, thanks freak. Let us know what happens.

 

[sportsfreak]

Per twitter, its now going to start at 12pm.

 

[kuwlness]

This Twitter Feed is being updated minute by minute ... better off watching here for developments rather than i-hub:

http://twitter.com/was_mutual


Recent Tweets:

Mr Rosen just left the room again. This time he left with Mrs. Friedmann from JPM 2 minutes ago via web

<LI id=status_10380617363 class="hentry u-Was_Mutual status" done25="10" done24="10" done23="10" done21="10" done19="10" done8="10" done5="10">Mr. Rosen has a huge smile on his face. Not pumping or anything... 3 minutes ago via web
<LI id=status_10379996828 class="hentry u-Was_Mutual status" done25="11" done24="11" done23="11" done21="11" done19="11" done8="11" done5="11">Seeing the witness being interrogated by one of the attorneys, I kinda wish we would go to trial. 18 minutes ago via web

 

[Donkwin47]

I'm listening right now.. They have come to a 3 way understandment.. Talking out the details now.

 

[lax_gunman]

doesn't sound good for uq

 

[lax_gunman]

Kuwl can u let us know when to sell

 

[Donkwin47]

I sold at $0.211.. I was averaged in at $0.209 I believe... No need to say I'm disappointed.

 

[WorldNumberOne]

Kuwl can u let us know when to sell

4 days ago

 

[Donkwin47]

4 days ago

Amen.

 

[Shadytree408]

It's dropping so fast... that its at the point where I won't even bother selling what I got. (not likely to go thru anytime soon either) hno:

lesson learned.... for the 3rd time...