Guest Guesser

When will Mr. Weissenborn live up to his promise to give the noteholders an update around the end of the year?

Our guess is March 4, 2011 (three months into the year).

Why?  Well, the current forbearance agreement expires on February 28, 2011.  We can’t realistically expect Mr. Weissenborn to pen an update on the 28th, so we’re giving him four days of leeway.  Does this seem fair?  Tell us when you think we’ll hear from our cherished CRO.

14 thoughts on “Guest Guesser

  1. John,

    There is a problem with this.

    Noteholders that are over 70 are required to draw from their IRA’s or have proof of losses in their IRA’s. Everyone else needs to also report the true
    valuation of their IRA’s.

    Thus Mary Ann Lerch’s Valuation Report of December 31, 2009. The Ng’s are under a legal duty to produce a similar report for 2010.

    There will be a lot of pissed off accountants and tax preparers if that report gets dropped in their lap Apirl 13th.

    If it isn’t done their could be penalties, or at least the cost of preparing and filing amended returns, and or going on extension.

  2. Good point Equitatus. The tax issues need to be taken into account given for everyone, most of all the 70+ crowd. It is surprising there wasn’t been more of an uproar about this very issue last year at this time. Yes, a few bemoaned the IRA issue last year on the forum, but, the uproar was muted at best. So what’s your guess? When will Mr. Weissenborn deliver?

  3. Where can one view a copy of Mary Ann Lerch’s value report of 12/31/2009? Did only those investors over 70 receive them because I didn’t.

  4. My father taught me don’t make promises you can’t keep.

    This situation reminds me of the BP oil spill.

    Deadlines and promises are made and broken.

    We are given very little useful information while the hemorrhaging continues unabated.

    We deserve an update on the patient.

    • Exactly, Equi. Weissenborn’s silence is as deafening as it is disrespectful. He doesn’t work for us. He’s working against us. He works for Tami Barrows, WFF, Walter, Bruce, Kelly and the Ad-Hoc Creditor’s Committee. Why would he want us to know? The more we know the more dangerous we are. Suppressing information only serves our master’s interests.

      Tick….tick….tick….the clock is ticking, Mr. Weissenborn.

    • Tami Barrows is (or was) Vice President of Wells Fargo Foothill, LLC, in Texas.

      Have you written to Senator Boxer on behalf of your brother? The important points can be found in my comment on the “A Fun Exercise” thread. Maybe you could draft the letter for your brother to sign.

  5. How is everybody feeling about Weissenborn’s promise to keep us informed?

    He has a perfect record of missing every deadline he set for himself. Unblievable.

    I for one am going to go to every business rating website on the web and give them my opinion of
    Mackinac Partners and how they have protected the Ng
    gang over interest of the investors.

    Shame on them.

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