tag:blogger.com,1999:blog-29297569.post7705602820115098695..comments2024-03-26T23:33:33.839-04:00Comments on Notable Calls: Washington Mutual (NYSE:WM): The stock is headed lowernotablecallshttp://www.blogger.com/profile/11353264365980606102noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-29297569.post-83538194811591199332007-12-11T10:13:00.000-05:002007-12-11T10:13:00.000-05:00Ouch! Man! That hurts!Ouch! Man! That hurts!notablecallshttps://www.blogger.com/profile/11353264365980606102noreply@blogger.comtag:blogger.com,1999:blog-29297569.post-85100060193580163712007-12-11T10:10:00.000-05:002007-12-11T10:10:00.000-05:00I've been following WM for a couple of years now, ...I've been following WM for a couple of years now, Since they bought out my Providian position. Here's what you need to know.<BR/><BR/>On 11/15, the BOD modified the rules for deferred compensation. Prior, it couldn't be collected until after retirement. Now, the execs can collect all deferred money next July 1. My opinion of management changed from incompetent to thieving pigs at that point. KKK's job is keep WM from BK prior to July 1, otherwise the execs become unsecured creditors.<BR/><BR/>We could discuss how management went almost two full months before increasing loss estimates. In Q3 they had to raise it twice, how they *pulled money out* of reserves to make numbers in Q2, etc., etc. Cramer even has KKK on his wall of shame, and stated that his management of WM has a major role in causing the Fed's to cut interest rates. But from an investment point of view, the BOD's actions tell you all you need to know.dcxavierhttps://www.blogger.com/profile/17215383069141197123noreply@blogger.com