Guys: I worked at WM Financial Services (the broker/dealer arm of WAMU) for four years (I left in 2003). It was one of the worst companies I ever worked for. The morale was low, everyone I worked for went to or wanted to work someone else. All the exectuives were morons and there was a rotating door for them. It's a terribly run company with a lot of waste. I met several key executives and Kerry Killenger, the CEO. I asked him what books he would recommend for managment and he made some smart remark and dumped me off on his male assistant. A real A-hole. Hopefully he will be ousted soon. My perception is that there are a bunch of small town country bumpkins from Washington running a national bank. What's up with the Woohoo commericals and the dumb Wamu name. What's the focus? Is that really professional. It's like they are doing everything wrong. Hopefully they will turn it around. I've lost $10k in my 401k. The stock was great for years and I just ignored it because it was in retirment. Lesson learned!!!Now I'm thinking about dumping it.
"It's all baked in" (sarcasm). I'm sure a lot are waiting for the dilution price of 8.50. I am strongly avoiding it as much as ABK was at the presnt level-$11
thanks, but i meant if someone can explain the thinking here ..... they missed an already horrible estimate by another 35 cents ..... is this news already priced in?
went short big time on the may 12 puts, got some today at 28 c and it closed about 37 c. Have a feeling wamu is going to pull back. your thoughts?
Are you sure that JPM's offer is not .20 cents per share to later be changed to $2.00 per share. I think this may be the end of the Wall Street pounding on financials. What do you guys think, is this overdone?