Worldco Going Out of Business

Quote from tjuggler:

Don't think he ever was licensed. Heard something about him shooting soemone with a BB gun when he was 15? Not that it would have disqualified him. What happened to AG? At one time, he was a stand-up guy. Unfortunately, he became a puppet like the rest. Sad. PM must be grinning from ear to ear.
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Yeah AG was a really nice guy at one point but he sold his soul to the company store. Bad move on his part. PM is probably saying I told you so.
 
Quote from tjuggler:

Don't think he ever was licensed. Heard something about him shooting soemone with a BB gun when he was 15? Not that it would have disqualified him. What happened to AG? At one time, he was a stand-up guy. Unfortunately, he became a puppet like the rest. Sad. PM must be grinning from ear to ear.
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AG.....yes, very much a puppet. not sure whether he was stand-up, but anyhow he managed to work his way into Schonfeld with the deal Worldco struck with that firm.

PM was fired about 6 or 8 months ago. He couldn't get hired at Andover so he tried to trade there but gave up. Now he works for Hold Bros.
 
people believe alot of nonsense. walter never had a license. never had any problems with nasd.
firm might reorganize under chapter 11 to walk away from real estate leases particularly a potential multimillion dollar lease on space in a telecommunications building in brooklyn which is empty now and was partially occupied by sprint and worldco. at one time.
firm might be subject to a fine.
within a year it is possible that traders will be paid back a substantial part of capital.
walter will probably be in hedge fund business and will have no problems attracting traders.
a typical business story-co. tried to diversify hoping to sell all kinds of services to wall street. market collasped.....
 
Quote from zdreg:

people believe alot of nonsense. walter never had a license. never had any problems with nasd.
firm might reorganize under chapter 11 to walk away from real estate leases particularly a potential multimillion dollar lease on space in a telecommunications building in brooklyn which is empty now and was partially occupied by sprint and worldco. at one time.
firm might be subject to a fine.
within a year it is possible that traders will be paid back a substantial part of capital.
walter will probably be in hedge fund business and will have no problems attracting traders.
a typical business story-co. tried to diversify hoping to sell all kinds of services to wall street. market collasped.....
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Substantial is not good enough given the way they misrepresented their situation to the end, and even took and solicited money from new and existing traders until the final week. There are people who had hundreds of thousands in their accounts. I don't think they'll be happy with "substantial." Worldco ought to pay back nearly everything at least.
 
Quote from I Missed Boat:



Substantial is not good enough given the way they misrepresented their situation to the end, and even took and solicited money from new and existing traders until the final week. There are people who had hundreds of thousands in their accounts. I don't think they'll be happy with "substantial." Worldco ought to pay back nearly everything at least.
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dont hold your breath
 
Quote from tjuggler:

Don't think he ever was licensed. Heard something about him shooting soemone with a BB gun when he was 15? Not that it would have disqualified him. What happened to AG? At one time, he was a stand-up guy. Unfortunately, he became a puppet like the rest. Sad. PM must be grinning from ear to ear.
More...

Wow, how could Walter not be licensed and run a trading desk? He was directly managing desk supervisors. Doesn't that require the 24? And why wasn't he licensed? Not like the tests are that hard.
 
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