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Latest Comments136 Comments
Finally Some Good News for Sirius Shareholders
SiriusXM has a total share count of 3.5B. That "B" means Billion! Do your self and the ambulance chasing sharks a favor and drop the suit. I believe that the list of the major holders that can be accessed from any web based search engine would speak volumes. Just in case your computer skills are lacking, here is a partial list:
APOLLO MANAGEMENT IV, L.P.
OPPENHEIMER FUNDS, INC.
Barclays Global Investors UK Holdings Ltd
VANGUARD GROUP, INC. (THE)
Clearbridge Advisors, LLC
STATE STREET CORPORATION
TIAA-CREF INVESTMENT MANAGEMENT, LLC
ING INVESTMENTS, LLC
Cypress Funds LLC
MLT Management, LLC
RiverSource Growth Fd
OPPENHEIMER GLOBAL FUND
RiverSource Large Cap Equity Fd
FIDELITY CONTRAFUND INC
JENNISON 20/20 FOCUS FUND
Legg Mason Partners Aggressive Growth Fd
VANGUARD MID-CAP INDEX FUND
OPPENHEIMER CAPITAL APPRECIATION FUND
OPPENHEIMER GLOBAL SECURITIES VARIABLE ACCOUNT
FIDELITY SMALL CAP STOCK FUND
WOW. . . Quite a list of financial minds! I would be interested in finding out if your class includes any of the above. The above list's holdings and insiders comprises 30% of the number of current shares. Further investigation led me to find that the stock is owned by 300 (yes 300) institutions. Is there a single one of these 300 firms interested in the class action suit? The answer is NO. The actions by Mike may be pure in nature, but he is not a financial expert. I also point out that any legal firm taking on such litigation has a very slim chance of having financial experience of this nature. The market has been ROCKED by recent events that have led to the current decline in all stock prices. Do the stock a favor and urge Mike to propose initiatives that protect the current equity and not destroy it with litigation. Poison Pill to restrict takeover, restriction on Excessive Executive Bonuses, and a demand for a published business plan would be better served in moving the price of the stock more in line with it value!
Finally Some Good News for Sirius Shareholders
Ho Ho Ho
Finally Some Good News for Sirius Shareholders
BRK-A, CME, GOOG, BIDU, FFH, & NVR all have volumes of over 50K daily and a price of over $200.
You are right about the silliness of SIRI selling for $240 a share. I suspect that an upper limit will be set by the board to facilitate a price ceiling. The aspect of have a price too low hampers the 401K activity, is similar to a high stock price to the common investor. A split, or a series of splits to keep the price to a resonable to the common investor.
Splits are not one way streets.
Just remember to look both way before you decide to cross one!!
VOTE yes to SHARES followed by
A YES to a REVERSE SPLIT!!
Finally Some Good News for Sirius Shareholders
So. . . . .
The best that could happen would be
The retiring of debt based on a share disbursement. similar to the.38-.45 scenario for $30M. (Debt is Gone!)
The reverse split of the stock by a 25:1 ratio. Brings the current price to about $7.50 b(based on today's prices). Now available to be traded in
401k accounts)
Now on the table are two elementrs.
1) NO DEBT!!
2) STOCK IS BEING TRADED IN 401Ks. (other than SIRI EMPLOYEE)
FAST FORWARD OCTOBER 2010:
(EVEN BY DEPRESSION STANDARDS THE ECONOMY IS RECOVERING)
Stock is now ranging upwards and a 3:2 or a 5:2 split is being considered.
Gotta go the Flux capacitor is fixed, jreplaced Red Bull for the coffee grounds. Fully caffeinated. . . . . .RUN BLUE DOG RUN
hmmmm
Red Bull & Blue Dog . . . . . could be the start of a great friendship!!
SIRI announces a 3:2 split
Analysts Find It Hard to Be Bullish on Sirius XM
VOTE YES to SPITTERS
VOTE YES ON SPLITTING HARES (Kill the wabbit)
VOTE MEL BLANC IN (Voice of elmer) as new CEO!!!
Analysts Find It Hard to Be Bullish on Sirius XM
Sirius XM Issues 67 Million Shares to Gain Breathing Room
Sirius XM Issues 67 Million Shares to Gain Breathing Room
The Reverse split worked for Nortel (for a time) and it will work for Sirius.
The subsequet downfall of Nortel was due to their accountants. Investors getting wind of accounting improprities drops the share price like a riock. Lets hope that the change of accounting firms will not uncover any improprieties that may have been applied by the XM management. If all numbers add up from the XM side of the shop, then the reverse split in this case is a tool I think that the option of doing the reverse split is a gun that can be held to the head of bond holders.
Just remember this people,
Just because you are paranoid,
it does not mean that people aren't out to screw you!
Run Blue Dog Run!!!
If I didn't own, I wouldn't post!! (let alone read!)
My average in is $2.30.
Sirius XM Issues 67 Million Shares to Gain Breathing Room
Based upon the interview.. The litigation could cause a stay of any descision on the issuance of new shares or any type of split. Litigation is a lengthly process that has may effects. One benefit of an effective lawsuit is a restraining order. The order would be challenged and potentailly cause a delay in the conflict of the stock. Hartlieb's accusations are true and to the point. They have merit and I believe would be considered substantive enough to get that restraining order. The issue of professional plaintiffs is a more overiding issue. The action by one of these professionals could bring Hartlieb's efforts to a screeching halt again. Mr. Hartlieb attorneys's should do all shareholders a favor and withhold any verbage announced on suits until they are filed in a court of law. I believe the saying "once burnt, twice shy" fits here. The Debt holders will renegotiate with the current rules in place, it is to their benefit. The dilution of the stock is a very real possibility. A twenty to one split would make the most sense and you would then see a precipitous drop similar to the Nortel Networks action two years ago when they only performed a ten for one. The stock experienced a two month climb that only brought it to levels it experienced one year earlier, only to drop to 8% of the Split value. A reverse split at this time would put the value of SirusiXM at A MARKET CAP OF 91.2M. The only consolation would be an immediate rise in the stock due to the elimination of the debt. The Nortel Network scenario may not play out the same for SiriusXM. There may be no fall after the initial rise, but then again the fall may happen right away.
I would think that this action to restrain the split would be a good thing. The abilities of Mel are adequate to come up with creative financing that would not involve stock. OEM kickback negoations, Ad dollars for the sports channels. Maybe even takling a page out of Ioaccoa's book and have exec's take a $1 yearly salary for the short term. This one is not over yet.
Hey Killer, how's the dog look like in a legal pin stripe suit?
Sirius XM Issues 67 Million Shares to Gain Breathing Room
Sirius XM Issues 67 Million Shares to Gain Breathing Room
they just sold 1 more best of sub .. knock off another 0.00000002B from the debt!!!
Killer. . . .
The Blue armour just came in from Ceradine. I didn't think that ceramic was strong enough. But it shure stops those AP rounds in test!!!
Sirius XM Issues 67 Million Shares to Gain Breathing Room
Sirius XM Issues 67 Million Shares to Gain Breathing Room
I especially like the line "We may engage in additional exchanges in respect of our outstanding indebtedness if and as favorable opportunities arise."
If you take away the .425B estimated savings our new number would be 1.07B - .425B = .645B.
And you guys thought all hope was lost!!
Is a Reverse Split in the Cards for Sirius?
Is a Reverse Split in the Cards for Sirius?
----------------------... GIANTS!!!!