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Thread: Big Institutional Additions reported Fri, 11/7, ALL @ .26

  1. #1
    Keysmark is offline
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    Big Institutional Additions reported Fri, 11/7, ALL @ .26

    Below, I have listed the institutions that have been reported on Fri, Nov. 7th as having either added more
    SIRI stock or have initiated new holdings.

    Just out of curiosity, I did the math to see what they paid. To my absolute astonishment, They all paid the same.

    Check it yourself. Divide current value by current shares. They all paid .26 exactly. How can this be?


    Fund--- Curr Shares--- Curr Val--- Share Chng--- Sh Chg %--- Activity

    Compton Capital Management Inc 65,696 $17,081 65,696 100 % New Holding

    Murphy Capital Management Inc 10,300 $2,678 200 1.98 % Added More

    Cypress Funds Llcca 18,305,000 $4,759,300 11,000,000 150.58 % Added More

    Blb And B Advisors Llc 67,145 $17,458 45,945 216.72 % Added More

    Old Dominion Capital Mgmt Inc 1 2,302 $3,199 12,302 100.00 % Holding

    Cal State Teachers Retirement Sys 4,847,862 $1,260,444 3,567,233 278.55 % Added More
    -
    Davidson And Garrard Inc 237,467 $61,741 197,737 497.70 % Added More

    Voyageur Asset Management Inc 27,655 $7,190 1,255 4.75 % Added More

  2. #2
    SiriusHope is offline
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    GOOD sign were not going BK.

  3. #3
    spanyo is offline
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    Hey Keysmark,

    I think you are just seeing what the current values of the shares are. They will always be the same as the closing price. If we close at .30 on Monday then those values will change accordingly.

    I am trying to find out what each institutional cost basis is, but I can't find this anywhere.
    Last edited by spanyo; 11-08-2008 at 11:11 PM.

  4. #4
    jmm232 is offline
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    One interersting thing is the new holdings or added holdings reported over the past two days total around 104M shares. You think some of these are a part of the 2 1/2s that converted?

  5. #5
    Keysmark is offline
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    Quote Originally Posted by spanyo View Post
    Hey Keysmark,

    I think you are just seeing what the current values of the shares are. They will always be the same as the closing price. If we close at .30 on Monday then those values will change accordingly.

    I am trying to find out what each institutional cost basis is, but I can't find this anywhere.
    Thanks Sanyo,

    That's the answer. I feel really dumb. The column does read: "Current Value", not purchase price.

  6. #6
    Whynot is offline
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    Great news...

    Agreed, this is an excellent sign that BK is all but gone from the equation. I'm looking forward to the upcoming Q3 call!!!!!

    Cheers,
    Whynot

  7. #7
    deewcom is offline
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    Paulson Warned WAMU CEO To Sell

    http://seattletimes.nwsource.com/htm...aybuzz090.html

    Treasury's Paulson warned WaMu CEO to sell before it failed
    Two months before Washington Mutual failed, Treasury Secretary Henry Paulson warned then-CEO Kerry Killinger that he ought to sell the Seattle-based thrift before it deteriorated further.

    By Seattle Times business staff

    Rami Grunbaum, deputy business editor, and Seattle Times Business staff

    Related

    WaMu's loyal shareholders left holding the empty bag
    Two months before Washington Mutual failed, Treasury Secretary Henry Paulson warned then-CEO Kerry Killinger that he ought to sell the Seattle-based thrift before it deteriorated further.

    "Paulson said, 'You should have sold to JPMorgan Chase in the spring, and you should do so now. Things could get a lot more difficult for you,' " said one of several current and former high-ranking WaMu executives familiar with details of the call.

    Paulson's July comment, which has not been previously reported, caught Killinger and his top brass off-guard, executives said. Bank officials had recently raised $7.2 billion in capital from investors led by private-equity fund TPG, and they thought that was enough money to weather the worsening mortgage crisis.

    Killinger declined to comment for this article, and WaMu executives close to him spoke only on condition of anonymity. A Treasury spokeswoman said it does not comment on Paulson's private conversations.

    Last spring, JPMorgan offered up to $8 a share for WaMu, with the final price depending on how its loans performed. Instead, WaMu sold a partial stake to TPG. When WaMu was seized by federal regulators Sept. 25, most of its banking operations were sold to JPMorgan for $1.9 billion and the company's stock was rendered worthless.

    Killinger called Paulson in July to ask that the Treasury secretary use his influence with the Securities and Exchange Commission to add WaMu to a list of 19 financial institutions that were temporarily protected from a form of trading called "naked short selling" that can drive share prices artificially low.

    Paulson refused to help Killinger get WaMu on the list.

    WaMu did get on a subsequent list: In mid-September, panic in the stock market prompted the SEC to ban all short selling on 799 financial-institution stocks.

    That ban came too late for the Seattle thrift, which failed the next week after a run on the bank that was precipitated by credit-rating agencies reducing WaMu's debt to junk-bond status. Its declining ratings were due partly to its falling stock price, which had been harmed by short selling.

    The WaMu executives did not accuse Paulson of pushing WaMu to fail. Although the thrift's primary regulator, the Office of Thrift Supervision is a bureau of the Treasury, the head of the OTS reports to the president rather than to Paulson.

    Melissa Allison

    CEO denounces corporate greed





    Here's a twist: Corporate greed denounced by a CEO.

    Peter Rose of Expeditors International fired a sharp rhetorical broadside at unnamed fellow CEOs this past week as he issued the logistics company's financial results.

    "The irony of reporting record quarterly profits in such tumultuous economic times is certainly not lost on us," he wrote in the Seattle-based company's earnings release.

    "We have great sympathy for those who have been victimized by the greed, avarice and deliberate desertion of time-proven principles of sound financial management that caused this mess in the first place."

    The outspoken Rose also assured stockholders that "there are no short-term, 'financially-engineered' profitability gimmicks in these numbers that will unravel over time because they lack economic substance."

    There's no telling which corporate leaders the maverick CEO may have had in mind; he doesn't talk to reporters or financial analysts.

    But he wouldn't have had to look far for inspiration. Rose runs Expeditors from a headquarters tower on Third Avenue. About three blocks away is the corporate headquarters tower of Washington Mutual.

    Rose's statement praised the company's employees and its culture, then wrapped up:

    "If a silver lining is to come out of all this turmoil, hopefully it will be a return to the realms of financial sanity where companies that manage prudently are differentiated from those that don't. ... Here at Expeditors, we don't need to go 'back to basics', because we've never left them."

    Rami Grunbaum

    WaMu cleanup man wears many hats

    And speaking of WaMu the thrift's holding company, now in Chapter 11 after its banking operations were seized by regulators, is apparently running pretty lean these days. Although the restructuring expert hired last month to guide what remains of Washington Mutual Inc. through bankruptcy, William Kosturos, is paid hundreds of dollars an hour, he's also wearing a lot of hats.

    His title, as given in regulatory filings: president, vice president, general auditor, controller, chief financial officer, treasurer, assistant secretary and chief restructuring officer.

    Rami Grunbaum

    Comments? Send them to Rami Grunbaum: rgrunbaum@-

    seattletimes.com or 206-464-8541

    Copyright 2008 The Seattle Times Company
    Last edited by deewcom; 11-10-2008 at 02:42 PM.

  8. #8
    Demian is offline
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    Deewcom,

    When you post articles, can you please post a link back to the original source if at all possible?

    Thanks...

  9. #9
    deewcom is offline
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    Linked as requested. Both stories seem pertinent. Lack of SEC oversight and accountablity abound. The Treasury Secretary believes that he can do as he pleases (and who has told him any differently - he got a $700 billion bailout and more to do with as he sees fit).

    This bit is a laugh riot:

    Killinger called Paulson in July to ask that the Treasury secretary use his influence with the Securities and Exchange Commission to add WaMu to a list of 19 financial institutions that were temporarily protected from a form of trading called "naked short selling" that can drive share prices artificially low.

    Paulson refused to help Killinger get WaMu on the list.


    Such brazenness.

    Interestingly, the author seems inclined to believe (by ommission of a relevant fact) that "naked short selling" is legal. Otherwise, she should have pointred out that naked short selling is entirely illegal.

    Short selling is legal. Naked Shorting is not. There are no penalties for naked short selling, however. Naked shorting is bankrupting companies and robbing shareholders, but the SEC does nothing to stop it.

    Meanwhile, Paulson who worked for Goldman Sachs in 2006, uses his power to make or break companies at will. A guy named Kashkari also a former Goldman employee, is Paulson's bag man. Obama's key advisor is Rubin another former GS employee and former Clinton official.

  10. #10
    Demian is offline
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    Deewcom,

    Thanks for posting the story and the link!

    I agree with you! This lack of enforcement BS from the SEC is nothing short of domestic terrorism......where is the outrage?

    Someone needs their ass kicked!

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