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Latest Comments1081 Comments
Sirius, GM, AIG: Where Is the Leadership in American Boardrooms?
Five Key Quotes from Sirius on Satellite Radio and Automakers
Mel Karmazin did not say he would like to take the company private at these levels. He said he would like to take the company private, but at these levels that would be impossible. He would rather get the company in a situation where it was operating at FCF positive and the debt issues were resolved. Then he felt that the company would be attractive on the Market to take it private and get existing shareholders a value for their investment. I must say that I am very surprised at Michael's blunder on a Nationally Syndicated News Org. I wonder why this network gave Michael air time to voice his decent against the company. NAB maybe???
Sirius Reverse Split Only "to Satisfy Listing Requirements"
I agree on NASDAQ extending the rule waiver for 3-6 months, reassess and do it again if the economy doesn't improve. It would not precedent setting. They suspended this rule before as a result of the tech bubble in 2001. All other criteria being met, why would they want to loose transaction revenue on 64 M shares / day on SIRI or all the other companies struggling. Again it is not a precedent setting policy change to support member companies..... After all this isn't just happening to SIRIUS XM........
Five Key Quotes from Sirius on Satellite Radio and Automakers
Sirius Reverse Split Only "to Satisfy Listing Requirements"
Sirius Reverse Split Only "to Satisfy Listing Requirements"
Sirius Reverse Split Only "to Satisfy Listing Requirements"
I agree with you about the lawsuit...... and as you said the RS is a tool in the box of options to manage the company... All this talk of delisting being OK is foolish... Their debt rating is already just above the lowest it can be and many institutions who are already restricted because of the SP. If you take them of the NASDAQ those institutions that keep invested for balancing purposes (mutual funds), would clear their positions entirely. This is the kind of thinking that supports a premature lawsuit on a management team that fully disclosed in their filings all the information as required. Mel could have talked more to calm fears but that would have had the price of the stock going down more rapidly IMHO.
The reality of the 11th hour financing's lent shares, filed in a prospectus dated 7/30/08 with SEC, was not understood by most including myself, on the SP as we have experience. That's not Criminal, its business. It is a factor that should be considered when investing in this company. OK I'll say it, CRAMER was RIGHT, and I apologize for bashing him because of my own ignorance. I am now not ignorant on how convertible arbitrage works, and neither should anyone invested in this equity or any other that uses this type of financing.
I am less concerned about the RS now that Mel stated Publicly why it is being requested. Its on the record during an investor conference call, not a half quoted remark to a reporter on the sidewalk in New York about taking the company private. Read the whole comment not just what is conveniently reported by lawsuit supporters. They are the one's being misleading here.
Circuit City Bankruptcy May Help Satellite Radio Inventory Levels
Good night and I salute all of our Veterans out there for all that we have, and for all that you've given.
Circuit City Bankruptcy May Help Satellite Radio Inventory Levels
Circuit City Bankruptcy May Help Satellite Radio Inventory Levels
Circuit City Bankruptcy May Help Satellite Radio Inventory Levels
I hope your right about that and It does make sense..... As s162 has said and I think we all agree, announcement of debt refinancing in short order will do wonders for investor confidence.... Its all about execution and doing what he says now.
Circuit City Bankruptcy May Help Satellite Radio Inventory Levels
by the way I agree with your statements above and also acknowledge that I, as a shareholder, have loaned this company way more money than I had originally intended.......
Circuit City Bankruptcy May Help Satellite Radio Inventory Levels
Not to be a stickler, but..... we have 6 from the delisting notice, 180 days. The extension of waiver of the rule ends, currently, on January 16, 2009. If the clock restarts, then a notice is sent 30 days from then, and then the 180 days starts. So delisting would be in Sept 09, unless an extension is requested for another 180 days accompanied with a plan to bring the stock price up over the listing requirement, which then would include a reverse stock split. If shareholders approve the RS, then it needs to executed before Dec. 31, 2009, as now written in the Proxy Statement. The company has plenty of time to take actions to effect SP before delisting is considered. All of the hurdles on 2009 debt will have been jumped......
My concern about the numbers is that they came out with a downward revision right before a surprising upside 3Q in net subs, leaving on 260K net subs needed to make their new number. 4Q in the past could easily have been 1M net subs for the two companies. Maybe the new packages are going to cause a higher churn. Maybe the higher priced luxury cars, which are also energy hogs are not selling impacting the number. I don't know what their seeing, but they did revise their net subs, knowing they had a good 3Q. Something isn't right........ IMHO I am not trying to be negative. I just want to know why they did the revision when they did.
Circuit City Bankruptcy May Help Satellite Radio Inventory Levels
So, they have been hanging out together a bit... So, that means that their probably going to say things similar in a good quarter ... and so, as we said before... so, we're in talks with several banks in the most horrific credit environment we've seen in years.. and so, we wanted to take out that debt sooner rather than later. LOL
I was thinking the same thing every time Frear spoke..... That's why Mel had to identify himself in answering callers questions...
All in all, great subscriber numbers as the guys above said. 340K net subs beats my "worry" number of 150K more than 2 fold. I was worried about churn and they are on target with that. What's the problem then? Once the Feb debt is announced done and it sounded to me they were hinting that the May debt was also being addressed, their shouldn't be any problems in the foreseeable future.
Even bankruptcy of an OEM, if they remain in operation, doesn't seem to be a big problem, because of their existing revenue sharing contracts. Now lets see if their is anything in the filings before we start celebrating too much. The sub numbers being this high and them taking down end of the year #'s before the call, doesn't seem to make sense.....
Earnings Preview: Sirius XM Radio
I listened to the whole call, no surprises and their still growing, that's all good. Now we'll have to see what the filing actually shows for cash on hand and other merger details. This CC was all pro forma.... we'll have to see how the analysts take that.... I am on hold before buying any more shares unless my .24 buy gets taken out. There is around 800K shares sitting at .27 holding the price firm so not much chance of that happening tonight. That 800K is in 3 lots.
s162... You and I now know more about convertible debt, the loaning of shares to support the equity holders, and the effect on common shares than we really ever wanted to know.... Even though I read the information, by the time I educated myself on the deals impact, it was too late. As you say, we then entered the perfect storm and all ships went down.... It is a hard and unforgiving game that we play... and education always comes at a high price.
163888...... Now you've done it.... your confusing him with way too many facts. By the way as an employee of Sirius, any openings there.... If I can make some money while I do this ...... why not..... LOL