Wacchovia margin calls

Discussion in 'UPS Discussions' started by nhguy, Feb 14, 2009.

  1. nhguy

    nhguy New Member

    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!!!!
  2. moreluck

    moreluck golden ticket member

    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.:sad-little:
  3. rod

    rod retired and happy

    I'm in the same boat Moreluck--in fact I'm even concidering sending the wife back to work.:wink2:
  4. cheryl

    cheryl I started this. Staff Member

    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...
  5. j13501

    j13501 Member

    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.
  6. brownmonster

    brownmonster Man of Great Wisdom

    I can only be squeezed so much.
  7. 1989

    1989 Well-Known Member

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

    UpstateNYUPSer Very proud grandfather.

    Lovin, touchin, squeezin (each other).
  9. backinbrown

    backinbrown respect my authority

    Looks like it's ooooover
  10. airbusfxr

    airbusfxr New Member

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

    tieguy Banned

    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.
  12. jennie

    jennie New Member

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

    upsdude Well-Known Member

    Journey - Lovin' Touchin' Squeezin'
  14. brownmonster

    brownmonster Man of Great Wisdom

    I would rather be squeezed by Britney than by Steve Perry
  15. Monkey Butt

    Monkey Butt Dark Prince of Double Standards Staff Member

    How about Steve The UPS Guy?
  16. airbusfxr

    airbusfxr New Member

    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.