DALLAS, Oct. 28, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Washington Mutual Inc. (Pink Sheets:WAMUQ). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Washington Mutual Inc. (WAMUQ) is a consumer and small business banking company with operations in United States markets. The Company is a savings and loan holding company. It owns two banking subsidiaries, Washington Mutual Bank (WMB) and Washington Mutual Bank fsb (WMBfsb), as well as numerous non-bank subsidiaries. The Company operates in four segments: the Retail Banking Group, which operates a retail bank network of 2,257 stores in California, Florida, Texas, New York, Washington, Illinois, Oregon, New Jersey, Georgia, Arizona, Colorado, Nevada, Utah, Idaho and Connecticut; the Card Services Group, which operates a nationwide credit card lending business; the Commercial Group, which conducts a multi-family and commercial real estate lending business in selected markets, and the Home Loans Group, which engages in nationwide single-family residential real estate lending, servicing and capital markets activities.
On September 26, 2008, WAMUQ filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.
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In the report, the analyst notes:
"WAMUQ last week announced the U.S. Bankruptcy Court for the District of Delaware has approved the Disclosure Statement filed in connection with its proposed plan of reorganization. This allows the embattled bank holding company to solicit creditor approval for its reorganization to end its two-year bankruptcy. The Company said the bankruptcy court has set November 15, 2010, as the voting deadline for for eligible stakeholders, and scheduled a hearing to consider confirmation of the plan for December 1."
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