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April 20, 2008 at 11:00 pm #586790
jb1234ParticipantAs a West Seattle resident, business women and community activist of many years, I want to encourage my neighbors and business associates to consider buying WAMU stock as an investment in our community’s financial security.
As I went into the bank the other day, I recalled the days when Boeing was at it low of $17 a share and went onto trade and then split at $105. That made me think about the potential for WAMU.
It is a bank that has been the rock of our community with respect to savings and loan. And, at $11.25 a share, with a high of $44/share in the past year , it has potential.. A ROI of 4:1 in several years is heartwarming.
The shareholders took WAMU Corporate to task this week and it seemed to be heard by the CEO. At least we were local to be able to express our outrage.
So I would rather have a vocal majority of shareholder in the greater Seattle area controlling WAMU, than an east coast or southwest corporation taking control.
It does make a difference in our quality of life when we are in control of our local finances.
What do you think?
April 21, 2008 at 3:48 am #622567
TheHouseMemberWaMu has been hit with the same problem as almost every other financial institution in the US. Sub prime customers defaulting on their loans. The pain has been going on for a year and is not over yet. I believe that WaMu is a solid company and has a fairly low price tag right now, but my guess is that it might go a tad lower. If it drops under $10 per share then I’d buy but you’re going to have to hold this stock for a few years to make a solid profit.
If you really want to support local companies that are rock solid , I’d go with Nordstroms or Starbucks.
April 21, 2008 at 3:50 am #622568
JanSParticipantI will not divulge sources, but…I know someone who knows someone who has said that the rumor is…Chase Bank is interested in buying WAMU…remember…the operative word is RUMOR….:)
April 21, 2008 at 3:55 am #622569
JimmyGMemberNot a rumor Jan, it’s been openly discussed in the media in the past week.
Whether it will happen is a whole different story.
April 21, 2008 at 3:55 am #622570
JanSParticipantand House? Thanks for that word about Nordstrom…my daughter works for them :)
April 21, 2008 at 3:56 am #622571
JanSParticipantthanks, JimmyG…I haven’t paid much attention to the financials this week…except for the fundraiser on Saturday night – lol…
true…it will be when it will be, huh…
April 21, 2008 at 3:58 am #622572
ErikParticipantApril 21, 2008 at 6:37 am #622573
AdmiralJanewayParticipantI have read the newspaper articles leading up to the WAMU annual meeting with interest. The bank secured $7.2 billion from institutional investors earlier this month, so a buyout is less likely now. It’s now up to the current management to get the company back on its feet. For me, the decision to invest would be twofold.
1. Can the company weather the losses from its subprime loans?
2. Is the current management capable of getting the bank out of this mess?
April 21, 2008 at 3:01 pm #622574
shihtzuParticipantForget WAMU, go to BECU.
April 23, 2008 at 8:05 pm #622575
beachdrivegirlParticipantLots of news today in regards to Seattle based companies:
Safeco bought buy Liberty Mutual for $6Billion
Blake Nordstrom takes a 36% paycutt last year
and Boeings profits are up 38% this year.
What are everyones thoughts on this? and How do you relate these changes to investing?
April 23, 2008 at 10:48 pm #622576
JenVMemberconsidering how many people lost their jobs when Safeco bought American States Insurance….I wonder what will happen with the Liberty Mutual purchase?
April 24, 2008 at 12:39 am #622577
beachdrivegirlParticipantI know it is a scary thought.
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