worldco going out of business??

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STOCKGIRL...........I mean MAN:

Its a free enterprise system!
You know Assent is not the only game in town.
If you can pitch on here, so can everyone else.
Do you ever add anything constructive to ET?.....or just BASH every other Prop firm?
So simmer down.

VERY UNPROFESSIONAL.
 
Has anyone heard what is going on with the rest of Worldco? They still have a clearing and retail business, and a bunch of hedge funds work out of there as well.

Are they planning on declaring bankruptcy, or just shutting down the day trading operations?
 
Quote from bluhorshue:

Has anyone heard what is going on with the rest of Worldco? They still have a clearing and retail business, and a bunch of hedge funds work out of there as well.

Are they planning on declaring bankruptcy, or just shutting down the day trading operations?
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Worldco is not worth anything on paper. They don't own their traders or own the rights to them. Their hedge fund PTJP is not owned by WLDC, only financed by them. They don't own the rights to their retail customers. They have an agency desk but there is nothing proprietary there. Wldc is basically funneling the cash in the frozen capital accounts to somewhere in the islands probably.

This reminds me of the Gordon Gecko buyout of Blue Star Airlines. He made most of his money on that deal with overfunded pensions which were nothing more then a cash account. Wldc will basically cleanup on all the capital accounts and let the creditors absorb all the debt obligations.

This scam makes Harbor Securities look like a good firm.
 
I have removed all recruitments from this thread. Please make no further attempts to use ET for free advertising. If you persist I will ask that you be banned. Thank you for your cooperation.
 
Quote from Maverick74:



Worldco is not worth anything on paper. They don't own their traders or own the rights to them. Their hedge fund PTJP is not owned by WLDC, only financed by them. They don't own the rights to their retail customers. They have an agency desk but there is nothing proprietary there. Wldc is basically funneling the cash in the frozen capital accounts to somewhere in the islands probably.

This reminds me of the Gordon Gecko buyout of Blue Star Airlines. He made most of his money on that deal with overfunded pensions which were nothing more then a cash account. Wldc will basically cleanup on all the capital accounts and let the creditors absorb all the debt obligations.

This scam makes Harbor Securities look like a good firm.
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I realize that prop traders at WorldCo probably will not get back there deposits. But what about the retail customers accounts they should get all of there money back. It just might take a little while. Right?
 
Quote from silk:

Stockman- "1st - i stated on these boards worldco was a garbage firm in july of last year. read my review of them here "

Hmm...That would be the same time that worldco was giving me a 6 figure pay check every week.


Stockman, you need to know that you will likely be the last person that anyone on this board is going to contact. LOL
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Silk what do you think the likelyhood will be for you or the other prop traders to get their money out of Worldco? Since you are there you have a better grasp on if some traders will be taking huge hits because of money being tied up with the firm with deferred compensation or just capital deposits with the firm.
 
Quote from gimp570:



I realize that prop traders at WorldCo probably will not get back there deposits. But what about the retail customers accounts they should get all of there money back. It just might take a little while. Right?
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The retail accounts should be SIPC insured right? Maybe Don Bright could answer that question better then me. The retail accounts were really a very small part of their operation though and again, they were not part of the assets of WLDC if I understand LLC's correctly.
 
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