Washington Mutual - Grösste Sparkasse der USA! Chancen & Risiken. (Seite 34369)

[humm]

Ja, sieht nach einer Bodenbildung um die 4 EUR (6 USD) aus:



oder in USD:

http://stockcharts.com/h-sc/ui?s=wm&p=D&yr=0&mn=6&dy=0&id=p3…

[Datteljongleur]

Doppelboden????

[wgumcd]

20.06.2008 09:30
Washington Mutual streicht 1.200 Stellen

Seattle (aktiencheck.de AG) - Die größte US-Sparkasse Washington Mutual Inc. (ISIN US9393221034 (News)/WKN 893906) meldete am Donnerstag, dass sie im Rahmen von Kostensenkungsmaßnahmen 1.200 Stellen streichen wird.

Von den betroffenen Arbeitsplätzen befinden sich 775 in Kalifornien und Florida, weitere 270 im US-Bundesstaat Washington. Dabei handelt es sich um Stellen in der Home Lending-Sparte des Konzerns. Zudem wird Washington Mutual einige Support-Funktionen zusammenziehen.

Mit dem Stellenabbau, der rund 3 Prozent der gesamten Belegschaft betrifft, sollen die Effizienz gesteigert und die Profitabilität wiederhergestellt werden.

Die Aktie von Washington Mutual schloss gestern an der NYSE bei 6,35 Dollar. (20.06.2008/ac/n/a)



20.06.2008 07:43
Washington Mutual's 'SQ2' rating withdrawn - Moody's


MUMBAI (Thomson Financial) - Moody's said it has withdrawn Washington Mutual Inc (News) .'s rating of 'SQ2' as a primary servicer of subprime mortgage loans at the company's request.
The rating agency said it will continue to monitor the impact of WaMu's servicing quality on deals rated by it.
Moody's said its SQ ratings represent its view of a servicer's ability to prevent or mitigate asset pool losses across changing markets.
SQ ratings for U.S. residential mortgage servicers incorporate assessments of delinquency transition rates, foreclosure timeline management, loan cure rates, recoveries, loan resolution outcomes, and REO management.
[e-mail]
ash/ran
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.

[humm]

Antwort auf Beitrag Nr.: 34.322.826 von wgumcd am 18.06.08 11:33:53

ja, das ist nichts neues.

ich reche mit einer Übernahme.
Was der Kurs kurzfristig machen wird, weiß ich nicht, langfristig ist es ein Kauf. Wo der Boden ist - tja, da habe ich völlig versagt.
Könnte noch länger dauern.

[wgumcd]

Antwort auf Beitrag Nr.: 34.292.002 von humm am 12.06.08 18:27:35

Nicht gerade besonders nett:



http://www.nytimes.com/2008/06/15/business/15gret.html


June 15, 2008
FAIR GAME
Approve This Deal, or Else
By GRETCHEN MORGENSON
BOWING to shareholder pressure, directors at Washington Mutual, the nation’s largest savings and loan, stripped Kerry K. Killinger, chairman and chief executive of the company, of his chairmanship on June 2. The board said it would appoint an independent chairman by July 1, and it instituted a majority voting standard for future director elections.
But the moves did nothing to tamp down shareholder ire over a $7 billion capital infusion that the bank’s board agreed to in April. Stockholders will vote on the deal on June 24, but the more closely that some holders examine its terms, the angrier they get.
Supplying cash to WaMu are TPG, a big private equity firm, and a group of unnamed institutional investors. The money helps WaMu shore up its capital base, which has been depleted by mortgage losses. In the most recent quarter, WaMu lost $1.1 billion; nonperforming loans stood at $9.2 billion, almost 3 percent of total assets and nearly triple the figure from the same period last year.
David Bonderman, a founder of TPG, gets a WaMu board seat as part of the deal. It is a homecoming of sorts because he served on WaMu’s board from 1997 to 2002. That was a result of his involvement with the Robert M. Bass Group, which purchased American Savings & Loan, an insolvent thrift, from the government in 1988. It became American Savings Bank and was sold to Washington Mutual for $1.2 billion in 1996, generating a plush profit to the sellers.
In April, WaMu said the TPG transaction would help the bank become profitable again. “With the support of these investors, we have every confidence in our ability to deal with today’s market conditions and restore shareholder value,” Mr. Killinger said.
TPG and its fellow investors got a sweet package. WaMu sold them 176 million shares at $8.75 each — 26 percent below the stock’s price the day of the deal; it also sold almost 20,000 preferred shares that can be converted into WaMu common stock at $8.75 each. WaMu issued five-year warrants to the investors, allowing them to acquire 68.2 million shares of WaMu stock at $10.06 each.
Alas, for existing WaMu shareholders, the deal is enormously dilutive. RiskMetrics said the total shares issued to the TPG group, including those covered by the warrants and preferred stock, represent 50.2 percent of the company’s shares out.
Under New York Stock Exchange rules, any issuance of stock that increases shares by more than 20 percent requires approval from existing shareholders. But some WaMu shareholders call the vote a joke, saying that the deal is front-loaded with financial penalties that essentially force them to approve it.
For example, if the transaction is not approved by June 30, WaMu will have to pay a special dividend with an annual interest rate of 14 percent to the TPG investors. If shareholders have not approved the deal by next March, more dividends will be paid at a rate of 15.5 percent. By September 2009 the penalty rises to 17 percent.
And if shareholders reject the deal, the price at which the warrants can be converted into common stock will decline every six months by 50 cents each, with a maximum drop of $2 a warrant. That makes the warrants far more valuable to TPG and its friends, and a lot costlier to WaMu shareholders.
WaMu’s leadership, clearly desperate for any cash it could lay its hands on, also agreed to cover whatever dilution TPG investors incur if the bank has to go back to the well within 18 months and raise an extra $500 million or more in equity at less than $8.75 a share. The same provision kicks in if another company takes over WaMu. Finally, WaMu will pay $50 million to TPG and pals to reimburse them for deal expenses.
Clearly, Mr. Bonderman is an expert negotiator. Yes, WaMu’s shares have fallen to $6.67, below the $8.75 he paid for the common stock and the $10.06 strike price on the warrants. But Mr. Bonderman, who declined to comment, is in it for the long haul.
On the other side of the trade stand WaMu shareholders. They wonder why their company’s board and management didn’t negotiate better terms or allow existing shareholders — who have seen their stakes plummet — to buy additional equity at a discount. Why, they ask, was the deal constructed to force shareholder approval?
“We’ve been given a set of choices where you are damned if you do and damned if you don’t,” said Steve Abrecht, executive director of the S.E.I.U. Master Trust, a group of pension funds benefiting members of the Service Employees International Union; the trust owns WaMu shares. “We feel that the board and the senior executives seem to have gone quickly to an option that preserved their positions instead of looking out for the long-term shareholders.”
Those positions have been extremely lucrative for the company’s executives. While Mr. Killinger declined his bonus in 2007, he did take $1 million in salary. And in previous years he made, well, a killing. He received $4.1 million in salary and bonus in 2006 and $4.56 million in 2005. A WaMu spokesman declined to comment.
WHAT would a buyout have meant for Mr. Killinger financially? Based on the company’s filings, he stood to receive only about $6.81 million if WaMu was taken over. That’s nothing to sneer at, but it is well below the tens of millions that executives often bag when their company is acquired.
Shareholders are also concerned that WaMu’s board passed on a better deal with JPMorgan Chase in April. The bank offered to buy the entire company for around $8 a share, according to a person briefed on the discussions who requested anonymity because the talks were confidential.
If the JPMorgan deal had gone through, WaMu shareholders would have wound up with stock in a much stronger financial institution. With WaMu stock at $6.67, that deal looks even better.
WaMu declined to comment on the competing offer and said the company’s lead director, Stephen E. Frank, a former chief executive of Southern California Edison, would not comment.
But another person with knowledge of the transaction — who also requested anonymity because the talks were confidential — said the WaMu board valued the offer at less than $5 because it had many contingencies.
All of this may be true. But shouldn’t shareholders have been told JPMorgan was interested? Without that information, they had no way of weighing the JPMorgan offer against that from the TPG group.
Vincent Au, president of Avalon Partners, an investment firm in New York, is one WaMu shareholder who is unhappy with the TPG deal. “A rights offering giving everybody the right to invest would have been better,” he said.
And WaMu’s executive pay poses another problem, in Mr. Au’s view. Last week, via e-mail to the company, he asked that top management return some of the bonuses they received during the fat years, when the loans that have gone bad were first made.
“A good management team should be fairly compensated,” he said, “but I think there should be a sense of responsibility when their decisions hurt the shareholders.”
Mr. Au says he’s still waiting for WaMu to respond.

[humm]

aus: http://biz.yahoo.com/bw/080612/20080612005861.html?.v=1

>>Three Proxy Advisory Firms Support WaMu Proposals at Upcoming Special Shareholders' Meeting
Thursday June 12, 12:15 pm ET

SEATTLE--(BUSINESS WIRE)--Washington Mutual, Inc. (NYSE:WM - News) today announced that independent proxy advisory firms Institutional Shareholder Services, Inc. (ISS), Glass, Lewis & Co. and PROXY Governance Inc. have recommended that shareholders vote for both of the company’s proposals related to the recent $7 billion capital raise at the upcoming Special Meeting of Shareholders on Tuesday, June 24, 2008.

On April 8, 2008, the Company announced that it had entered into definitive agreements to raise approximately $7 billion through the direct sale of equity securities to affiliates of TPG Capital and to other institutional investors. The transactions closed in April 2008.

At the meeting, WaMu shareholders will vote on two proposals. The first is whether to approve an increase in the number of authorized shares of common stock to permit the conversion of the preferred stock issued in the company’s recent capital raising transaction into, and the ability to exercise warrants issued in that transaction for, common stock. The second proposal is whether to approve the conversion and exercise of these securities. The WaMu Board of Directors has recommended that shareholders vote “FOR” each proposal.

Important Information

Washington Mutual filed a definitive proxy statement with the Securities and Exchange Commission on May 22, 2008, and furnished the proxy statement to its shareholders, with respect to the proposals to be voted on at the Special Meeting of Shareholders. The proxy statement contains important information which should be read by WaMu shareholders before voting. Shareholders can obtain free copies of the proxy statement and other related documents by requesting them in writing to Investor Relations, Washington Mutual, Inc., 1301 Second Avenue, Seattle, Washington 98101 or by telephone at [phone]. The proxy statement and all other documents filed by Washington Mutual are also available on the SEC’s website at www.sec.gov and on the Company’s website at www.wamu.com/ir. The contents of the Company’s web site are not deemed to be part of this press release or incorporated by reference into the proxy statement. If shareholders have any questions, need a copy of the proxy statement or need assistance voting their shares, they may call our proxy solicitors: MacKenzie Partners, Inc. at [phone] or Georgeson Inc. at [phone].

The directors, executive officers and certain other employees of the Company may be deemed to be participants in the solicitation of proxies with respect to the proposals to be voted on at the Special Meeting of Shareholders. In addition, as noted above, the Company has retained MacKenzie Partners, Inc. and Georgeson Inc. to assist in the solicitation. Information about the Company and its directors and executive officers, and their ownership of the Company’s securities and interests in the equity investment transactions described above, is contained in the proxy statement. Information regarding Washington Mutual’s directors and executive officers is also available in its proxy statement for its 2008 Annual Meeting of Shareholders, which was filed with the SEC on March 14, 2008. This document is available free of charge at the SEC’s web site at www.sec.gov and from Investor Relations at Washington Mutual as described above.<<

[humm]

Antwort auf Beitrag Nr.: 34.288.812 von wgumcd am 12.06.08 12:41:19

>>Wir sollten in beiden Fällen nicht zu schlecht rauskommen.<<

Genau darum geht es.

[wgumcd]

Antwort auf Beitrag Nr.: 34.287.612 von humm am 12.06.08 10:32:13

Die gehen von höheren Wertberichtigungen aus. ich kann nicht beurteilen, wie die möglichkeiten von J.P. Morgan im gegensatz zu WM sind diese Risiken, z.b. durch den Verkauf der Kredite, zu minimieren.

Wie Du eingestellt hast:

In the end Bove believes there is a 75% chance WaMu will be sold in the next six months, with Wells Fargo at the top of his list of potential buyers. "There are not many other buyers around," Bove said, "WaMu would allow Wells to break into the east coast. JPMorgan Chase isn't in as strong a condition as most believe, and it would be a long shot for US Bancorp."<<

Wir werden sehen ob WM die kraft hat die Kriese selber zu meistern oder ob eine Rettung durch einen Verkauf nötig sein wird. Wir sollten in beiden Fällen nicht zu schlecht rauskommen.

Gruß

[humm]

Antwort auf Beitrag Nr.: 34.286.987 von wgumcd am 12.06.08 09:10:22

>>Willst Du den Laden Übernehmen?<<

wieso? sind nur kleine Positionen.

Das S&P ihr Kursziel von 7 auf 5 Dollar gesenkt haben,
wundert mich sehr - oder besser gesagt - wirkt auf mich unehrlich.

J.P. Morgan Chase habe WM für einen Preis von bis 8 Dollar je Aktie übernehmen wollen, was WM abgelehnt hat.
Wie können dann 5 Dollar den Wert von WM abbilden? – da stimmt was nicht.

[wgumcd]

Antwort auf Beitrag Nr.: 34.278.915 von humm am 11.06.08 09:24:01

Willst Du den Laden Übernehmen?????

Houston we have a Problem!


NEW YORK (dpa-AFX) - Ein wieder stark auf dem Vormarsch befindlicher Ölpreis hat
die Anlegerstimmung am Mittwoch verhagelt und die wichtigsten US-Indizes
deutlich unter Druck gesetzt. Der US-Leitindex verlor 1,68 Prozent auf 12.083,77
Punkte. Der marktbreite S&P-500-Index sank um 1,69 Prozent auf 1.335,49 Zähler.
An der Technologiebörse NASDAQ sackte der Composite-Index um weitere 2,24
Prozent auf 2.394,00 Zähler ab. Der NASDAQ 100 ging gar 2,44 Prozent tiefer bei
1.924,33 Punkten aus dem Handel.

Der Ölpreis der US-Sorte WTI lag zuletzt wieder in Sichtweite des am Freitag
erzielten Rekordhochs bei 139,12 Dollar je Barrel. Zudem hielten sich laut
Marktteilnehmern angesichts der Sorgen um die hohe Inflation Spekulationen um
eine Leitzinsanhebung der US-Notenbank. Der Fed-Präsident Ben Bernanke habe
diese zu Wochenbeginn mit seinen Aussagen neu angestoßen.

Die US-Wirtschaft hat sich dem 'Beige Book' zufolge Ende April und im Mai
generell schwach entwickelt. In drei Distrikten der US-Notenbank (Fed) habe sich
die wirtschaftliche Aktivität abgeschwächt und in vier Distrikten sei das
Wirtschaftswachstum gesunken, heißt es in dem von der US-Notenbank
veröffentlichten Konjunkturbericht. In den übrigen fünf Distrikten habe sich die
wirtschaftliche Aktivität kaum verändert. Das Haushaltsdefizit ist im Mai höher
als erwartet ausgefallen.

Unter den lediglich drei Gewinnern im Leitindex waren zwei Öltitel: ExxonMobil
legten um 0,82 Prozent auf 88,61 Dollar zu und Chevron Corp. stiegen 0,65
Prozent auf 99,42 Dollar. Daneben verteuerten sich DuPont-Aktien um 0,37
Prozent auf 45,89 Dollar.

Alcoa brachen dagegen am Ende des Leitindex um 7,96 Prozent auf 39,32 Dollar
ein. Nach einer Präsentation auf einer Investorenkonferenz hat JPMorgan-Analyst
Michael Gambardella das Votum für den Aluminiumkonzern von 'Overweight' auf
'Neutral' gesenkt. Der Plan des Unternehmenslenkers Klaus Kleinfeld, den Fokus
auf die schiere Größe von Alcoa zu richten und nicht auf Rationalisierungen, sei
zwar logisch. Er werde allerdings zu einigen Enttäuschungen bei den Gewinnen
führen. Zudem sieht das Unternehmen aus einer Explosion auf einer Anlage in
Australien finanzielle Folgen zwischen zwei und drei Cents je Aktie, wie am
späten Vorabend bekannt wurde.

Ebenfalls sehr schwach tendierten einige Finanzwerte. Hierbei ragten Citigroup
mit minus 5,18 Prozent auf 19,21 Dollar heraus. Anteile von American
Express , JPMorgan und des Versicherers American International Group
versammelten sich ebenfalls am Indexende. Lehman Brothers brachen um 13,64
Prozent auf 23,75 Dollar ein.

Ebenfalls abseits des Leitindex rutschten Washington Mutual nach der jüngsten
Verlustserie um weitere 9,28 Prozent auf 6,06 US-Dollar. Mit 5,75 Dollar
rutschten die Titel der größten US-Sparkasse zeitweise auf ein neues Rekordtief.
Händler verwiesen insbesondere auf die wachsenden Sorgen um die weitere
Zinsentwicklung als Belastung. Zudem senkten die Experten von S&P ihr Kursziel
von 7 auf 5 Dollar.

Sehr fest tendierten dagegen Staples mit plus 5,27 Prozent auf 24,37 Dollar.
Die niederländische Corporate Express hat ihren Aktionären die Annahme des
angehobenen Übernahmeangebotes des US-Einzelhändlers für Bürobedarf empfohlen.
Inklusive der Schuldenübernahme hat das Geschäft ein Volumen von 4,8 Milliarden
US-Dollar.

Agrium-Papiere sprangen gar um 8,65 Prozent auf 100,13 Dollar an. Der
Düngemittelanbieter und Spezialist für Agrar-Dienstleistungen hat die
Gewinnerwartungen für das zweite Quartal deutlich nach oben geschraubt. Nach
bislang zwischen 1,92 und 2,22 Dollar je Aktie rechnet Agrium jetzt mit 2,80 bis
3,00 Gewinn./ag/wiz



Gruß