Member Info for WolfofWarks

These letters are all in the exact same format. They all look like they are from the same person.

Ah right thanks. I last looked around twelve months ago and couldn't find anything on their website.

Opuletia. They still have to pay their taxes ...

This is at a precarious situation know where if the folks in control don't want to tell you what is going on they now have the perfect excuse not to have to.

There's no way of knowing how much money there is or possibly even where it is. I'd be amazed at this point if there is any hope of this coming back.

just to add to the general mix quoted yield is only relevant to today'd buy in price - usually incorrect anyway as based on historical dividend. Only to be used as a guide only. Everybody's yield is different depending on what their buy in price is.

if you're an income investor buy in those important dips after ex divi day.

That's not a arms length transaction though Maid. The FED are pushing that through to give some stability in the regional banking crises. Bit like the SNB fast tracking UBS takeover of Credit Suisse albeit on a smaller scale.

I was listening to Annalise Dodds on LBC this morning and she was talking about the current renting crisis and it was a real shiver down your spine moment in terms of what we might be in store for should Kier and Co get in.

Her response to the current renting crisis came in two parts. The first was a rather broad brush ‘fix the economy’. Well d’ur! Second was to change the planning application rules and stop prospective buyers buying ‘off plan’. So nothing in there about helping actual landlords who they really need to start coming back into the market if this problem is going to be resolved.

I had a more in-depth look at this last night again and the way to go if you are a higher or additional rate tax payer and are not dependant on the income to survive is to set up through a limited company. The full interest amount then becomes tax deductible for the purposes of corporation tax. Although this has just increased to 25%. Providing you can justify the revenue's tests you can pay a salary through the company and also make pension contributions which are also tax deductible for the company.

It looks like Nationwide now support BTL mortgages to limited companies as it looks like they have partnered up with a company which supplies these products.

As long as the opening of showrooms is used as marketing and not a proper move into bricks and mortar.

The rental market is very difficult to make work as a business, unless you are completely mortgages free. There's so many measures that have been brought that make it very difficult such as stamp duty levy, lack of tax relief, increase regs on energy, safety standards, etc. Combine those with higher interest payments and lack of tax deductibility on those interest payments and you can see why landlords are leaving the market. Meaning less supply and higher rents on those that remain.

Ian - I remember when the writers strikes happened last timed round with series like Prison Break, 24, Lost, etc, number of episodes cut down. There was loads of coverage but I'm not hearing anything of this latest round that you keep bringing up.

Surely anything due to hit the screens this summer has already been written? So the knock on effect will be next year plus? I doubt any of these studies or writers can afford to lose any more money sp this should be resolved reasonably quickly no?

Maid - Loads of company continue trading after bankruptcy. The shareholders nearly always pay the price for this to happen though.

You need to understand what the share you buy represents in terms of your limited liability and the risk associated with that protection.

Look up GM motors as that's probably the most famous high profile example that I can think of. More recently you've had Revlon whose plan is going to wipeout existing holders.

When somebody swoops in and buys a company for say a $1 it's usually because the buyer is taking on the existing liabilities - look at some the purchases Mike Ashley has made through Fraser Group. No one would have take on $6bn of CW debt, not a chance.

This is in preparation of the marketing of the loans for the reorganisation plan.

The shares won't have a value though don't forget - the assets and everything will be removed and in the Newco.

I'm trying to think of a recent high profile example. The only two I can think of off the top of my head are SYME and HE1.

No once all the assets have been removed the company becomes an empty shell, but an easy route for another company who wants to become public who might reverse into it.

Quite often reverse takeovers happen using companies that have previously failed and are just sat their dormant.

I guess it would depend on whether or not the company ends up being wound up once all the assets have gone.

Otherwise let’s say it became a shell and re-emerged further down the line could CP turn up for a bite?

I've bought back in today. Exited at $205 and brought back in at $158 so quite chuffed with that.

I've opened up a position here today on the ex divi drop. I like having a few divi payers in my portfolio now and offer that bit of stability that you need during uncertain times. Recently had RIO and MNG drop into my account with GLEN still to come.

I never write understood the logic of selling after ex-divi day. For me the rational thing is to buy on top up. It's like filling up a bottle. You buy when it's empty and let it fill up again.

There can be no dividend paid, no loan repayments and no buybacks while the company is sanctioned.

It's effectively frozen from carrying out any corporate activity and needs a special license to make things like coupon payments.

Even if there was an interested buyer it would be interesting to see from a technical perspective how that transaction could happen assuming the currently sanctioned plc owns the shares in the NA operation.

Maid - the whole point of the meeting was to comply with the law.

Maid - it's one legal group owned by the plc. Regal do not own shares in CW, CW own all of the regal shares. The inter group loans are all wooden money all off the back of the same debt and banking facilities.

The filing of the letters is precedural, they cannot change the outcome.

CW posted on their own website the section from the bankruptcy code where creditors have to made whole before any value can be passed back to equity holders.