Wacchovia margin calls

[nhguy]

Was talking with Wacchovia yesterday and am pretty sure that they are about to be making margin calls on hypo loans. Has any body else gotten these indications or an actual margin call yet?

The letter I got tells you about the changes they are about to make to the LTV percentages. I was also told that starting March 15 they will be using the daily closing price of the UPS stock to determine the margin requirements.

Just my feeling that this another way of the Banks putting more hurt onto people during tough times.

Would be interested to know anybody elses thoughts.


Remember the big fish always eats the little ones!!!!

 

[moreluck]

Several margin calls here. Amount of stock in portfolio has dropped along with the value of what's left.. Not good when you are already out of the work force with no real earning potential

We are in a mode of cutting spending & such until the price comes back. No vacations, no eatimg out.....'cept some fast food once in awhile. Not a good time all around concerning the economy.

 

[rod]

Several margin calls here. Amount of stock in portfolio has dropped along with the value of what's left.. Not good when you are already out of the work force with no real earning potential

We are in a mode of cutting spending & such until the price comes back. No vacations, no eatimg out.....'cept some fast food once in awhile. Not a good time all around concerning the economy.

I'm in the same boat Moreluck--in fact I'm even concidering sending the wife back to work.

 

[cheryl]

Lots of UPSers are facing margin calls, not just the ones with hypos at Wachovia.

No one thought that the UPS stock price would ever drop this low...

 

[j13501]

L

No one thought that the UPS stock price would ever drop this low...

That's very true. That's why the best thing we can do is continue to work hard, give great service, hold the line on cost and show the stock market what UPSers can do when they're faced with a huge challenge.

We've posted outstanding results in the past - now we need to hit the quarterly profit numbers each quarter this year to position the stock for a positive gain as the economy improves.

 

[brownmonster]

I can only be squeezed so much.

 

[1989]

I can only be squeezed so much.

Come on, you have a little squeezin left in ya.

 

[UpstateNYUPSer(Ret)]

Come on, you have a little squeezin left in ya.

Lovin, touchin, squeezin (each other).

 

[backinbrown]

Lovin, touchin, squeezin (each other).

Looks like it's ooooover

 

[airbusfxr]

I thought everyone took the winnings before 2000. I know the pilots and mechanics in my work area closed the hypos and moved on.

 

[tieguy]

in hindsight that would be the smart answer. However by all rights you would think this stock would have doubled again after 10 years of which many were in the record profit range.

 

[jennie]

Lovin, touchin, squeezin (each other).

Hey thats Journey, I don't just like Britney!

 

[upsdude]

Lovin, touchin, squeezin (each other).

Journey - Lovin' Touchin' Squeezin'

 

[brownmonster]

I would rather be squeezed by Britney than by Steve Perry

 

[Catatonic]

I would rather be squeezed by Britney than by Steve Perry

How about Steve The UPS Guy?

 

[airbusfxr]

So your saying that a few mechanics and pilots outsmarted you. Everyone I know dumped the brown turd when we were able to. We were held hostage and watched it drop. The stock was purchased for cheap, then split and doubled, who in there right mind would continue to buy or hypo. This split put us on top of pyramid scheme. From day ONE it was over valued.