What's Behind Sirius' Big Gain? 97 comments
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Sirius XM (SIRI) stock has seen active trading Monday, and is posting impressive gains even as the Dow and other indices are simply treading water. Whether the activity is shorts covering, or simply a technical bottom, longs invested in the stock are perhaps beginning to see a much needed boost in the stock price.
No, the price is not where people want it to be, but it is moving up, and seems to be doing so as if it was on a mission. Last week Karmazin appeared on Autoline and conducted an interview that lasted about half an hour. Many of Karmazin’s recent appearances have been well publicized and known about well in advance. People seemed to be waiting on every word, and if certain answers were not given, they were disappointed. Perhaps the appearance without the pre-announcement was part of what we needed.
Sirius XM should be conducting their Q3 2008 conference call within the next two weeks. This will be one of those times where everyone will begin to anticipate what will be said. In my opinion, the conference call will be a dissemination of the company performance, some very conservative guidance, and an overall stance that the company will be able to deal with the debt issue that awaits in 2009. The fact that the company has already started to deal with the February 2009 converts is an indication of movement on the issue.
So what exactly is behind the big gain for Sirius XM? At this point the answer is not known, but typically we will all find out soon enough. Depending on what is driving this action, we may have a good week in the satellite radio sector.
Position: Long SIRI
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This article has 97 comments:
Long Sirius
Of course you don't know. Why did I even bother on reading the article? Your "typically we will all find out soon enough" underscores the sophmoric approach taken to investment advice matches your grammar.
" Depending on what is driving this action, we may have a good week in the satellite radio sector."
And of course, you end the article with the strong HEDGE. Those are very useful and informative.
Keep up the wishful thinking but getting boring, ho-hum.
A Company that expects a 2.7B in revenue and a 300M EBETA in 2009 do you people think its worth 0.40, ? HMMMM
I've seen alot of crying babies on this seeking alpha forum, Real investors look at values and fundamentals. Credit markets will turn around sooner than you think.
Last night on Fast Money Mackey said he LOVED the product and has both Sirius and XM in his car....and then he BASHED the stock. This stock gets ZERO love. Even when it POPS 40% in one day when most of the market is down. Unbelievable.
Mel NEEDS to refinance this Debt like YESTERDAY. ENOUGH of this bullshit.
VOTE NO on the RS!!!!!!
;-)
frigginregan - I agree with you 100%. Almost daily I discuss this stock with my GF. Yesterday she tells me her coworker works designing chips for XM. She says "evidently they merged with Sirius and there is gonna be some layoffs" I looked at her puzzled and said "evidently? Are you an idiot?" but its not her fault, because no one knows. She hears me biaaatching every day I am waiting to buy a new receiver that will allow me to receive both Sirius and XM, but still no new receiver available, so she probably doesnt even pay attention, like the rest of the world.
I just put a call to the Treasury secartary to HIRE you to take care of our collapsing economy.
I stated to them how SMART you are
I hope you sold your gains yesterday....Cause soon you will be in the same boat as us...... The reason for that is......
GS just cut targets to .25..... and the Share Price has gone about 25% to 50% below that.....
I'm not going to argue with you.... I have watched this stock and it's stats very long and hard... and your .23 buy in wont have much of an effect if the SP is at .15 ...
Im scared, first time I have 0 shares in 6 months,
thanks,
Koop
On Oct 28 11:16 AM killerkaul wrote:
> Hang in there relmor ......................... you'll be fine, you're
> on the right track. killer. LOL.
Just to prove how dumb you are......
when you said .15 isn't bad from .23 that's a 65% downswing...... If it goes that low I will only be missing 72%
but..... I wasn't trying to argue with you... I was simply saying
-------- "I hope you sold your nearly 100% gains"
It wasn't GS that stopped following the stock... I think it was CITI because they were cutting workers, and the analyst that was covering SIRI was cut from the team....
Also, I hope you are right that today in the end dog will win the race and slap GS.
Dogs always beat Fat Guys
I really feel demotivated when your holding becomes zero. This time I am still holding it and do not have courage to sell.
Wish you a good luck.
Did you have the gun loaded in pre-market today........ There were some good hunting opportunities if you did. Good luck with your trades..... I hope you relocated the dog to a safer place...... looks like GS is lighting the weeds on fire again today.... I can't understand how this is not a reportable event by the company that doesn't show a clear manipulative strategy by this analyst. SEC , FBI someone needs to do something. Their playing long term investors like a fiddle hear and its criminal.
Pig Farmer..... .15 is a loss of 34% and you think that's fine..... good luck with that strategy. I doubt your even in this. Someone with your wisdom would have gotten out at .44.
A glimmer of good news today is that GM is up .44 and looks like the FEDS have intentions of saving the day for them in the future. Not a political statement one way or the other but, Looks like if Obama gets in GM will get a boost through the back door because Obama is a UAW supporter and he doesn't want those jobs lost. Also he is a big alt. / low energy proponent so money no object when it comes to Detroit. Good news in 2009.
With all due respect my friend, .36 has not held any real water since the Proxy Statement Release. If you keep selling at .36 and buying at .38 your on the wrong side of the trend line each time. .215 has established itself as a good solid resistance point after holding on Friday, a really bad morning for all stocks, and then bouncing off to .29. .31-.32 is a mild resistance point on the down side but with Weinkes spouting off and no good company news be very careful. Technicals strategies are tough here with so little history at these numbers. Be careful my friend....... Everyone Buy low, Sell High.
SHAREHOLDERS UNITE . . . KEEP DRILLING . . . THE FUN IS JUST STARTING . . .
FOLLOWING IS A MEMO FROM THE DESK OF MICHAEL HARTLEIB:
Strictly a coincidence or have we narrowed down where all the illicit (?) trades are coming from? I and others have been doing some research and it appears as though many of the shorts on Sirius have been routed through a company formally known as Morizio Associates LLC, also known as ISEG, now reregistered with the DTCC clearing Corp. as ISEROUTE. On Thursday October 23rd I made a phone call to them and let them know that there is a group investigating all of the Sirius short sales, many of which appear to be naked, and were being placed through ISEROUTE, their company.
The gentleman I spoke with wanted to know who I was. I told him that was unimportant. I told him that Racketeering charges were going to be filed against several companies for facilitating these illicit trades. He seemed quite uncomfortable and did not want to answer many questions and suggested I talk to their compliance officer which happens to be in Los Angeles Ca. Phone Number 213- 250- 1406. I left 2 messages to please contact me. He did attempt to reach me on Friday but I was on another call and didn’t answer. I returned his call and he didn’t answer so I left a voicemail and gave more details about my concerns as to all of the short sales on Sirius being routed through their company. Within 30 min I received an incoming call from phone no.312- 902- 5438. The gentleman calling let me know that he was calling me about my concerns with ISEROUTE. I informed him that there is an investigation on going that shows on level two that millions upon millions of Sirius shares shorted are being routed thru them.
I suggested that many of these shorts were illegal and the racketeering charges would be brought forth against several companies and that ISE may be included. I explained that it has been known for quite some time that off shore hedge funds have stolen millions of dollars from Sirius share holders by nakedly shorting Sirius stock. I informed him that this was in violation of regulation SHO which require shares shorted be borrowed from actual shares owned in brokerage accounts. His response was that they were a routing company. A pipe line to route and facilitate trades. It wasn’t their responsibility but the broker placing the trades, to insure that the trades are in compliance with regulation SHO. I informed him that this was unacceptable and amounts to nothing more than their clients robbing a bank and that they being the driver of the get away car. It wasn’t until the end of this call that he informed me that he was an attorney from the law firm of Katten Muchin and he was calling on behalf of his client ISEROUTE. So, the compliance officer never spoke with me and immediately contacted a law firm in Chicago.
Share prices up on Friday in a down market and share prices up today. Is it just a coincidence?
Phone 609 430-0100
I suggest that every party in our group contact ISE and let them know that we will be holding them responsible for all of the illegal short sales and that they are just as responsible as the off shore hedge funds in a conspiracy to defraud shareholders and steal billions of dollars.
The ISE Stock Exchange is a part of the International Securities Exchange (ISE), a family of innovative securities markets. ISE/Eurex Announcement
December 20, 2007: Eurex and ISE complete merger
• Combination expands Eurex’s global liquidity network into the U.S. and U.S. Dollar products
• Complementary customer base and product offerings provide cross-selling and innovative product development opportunities
• Integration approach leverages strengths of both organizations while maintaining respective uniqueness to address specific market needs
The combined group is the leading transatlantic operator of derivatives marketplaces with powerful distribution capabilities in two of the world's most important capital markets. On a combined basis, Eurex and ISE will be the market leader in individual equity and equity index derivatives worldwide. Its wide range of both U. S. Dollar and Euro denominated products is unique in the market: the combination is home to the Euro zone interest rate and equity index benchmark derivatives products and offers options on all major U.S. and European companies. Currently, ISE and Eurex distribute their products to approximately 560 direct exchange members
Business address ISEROUTE is 194 Nassau Street Princeton NJ 08542 Phone 609 430-0100
PHILADELPHIA (AP) -- Shares of Sirius XM Radio Inc. fell on Tuesday after an analyst reduced his subscriber and cash flow forecasts for the satellite radio provider and maintained a "Sell" recommendation on the stock.
Wienkes believes the company will reduce or miss its subscriber projections as demand erodes.
He also noted that Sirius' revenue isn't enough to cover operating and capital expenses, leading to negative free cash flow while the company continues to be dependent upon outside financing in a tight credit market.
IF YOU ARE NOT UP TO THE JOB YOURSELF, I ASSURE YOU IT WILL BE DONE FOR YOU
May 8, 2007
Mel Karmazin
Sirius Satellite Radio, Inc.
1221 Avenue of the Americas
36th Floor
New York, NY 10020
Dear Mr. Karmazin:
As a long time shareholder of, and an advocate for Sirius Satellite Radio, I would like to start by saying I believe in the Company, its model, the potential of the sector, and your leadership.
After nearly eighteen months of research and with great consideration for the chain of command, I now find it necessary to direct my concerns to you and respectfully ask for your involvement. That being said, my desire is not to do anything that would jeopardize the prospects of the merger and/or the Company in general.
I have obtained information through the Freedom of Information Act issued by the S.E.C. and other sources, that strongly suggests manipulation in Sirius shares and violations of Federal Securities Law. In speaking with Investor Relations, I have been told it is not the Company’s responsibility to monitor the trading of the Company shares but instead, is the responsibility of the regulators. I disagree and believe the Company has a fiduciary responsibility to protect the interest of its shareholders. I cite the pending Overstock.com, Inc. et al v Morgan Stanley & Co, Incorporated et al litigation filed on behalf of Overstock and its shareholders (Superior Court of the State of California – Case #CGC-07-460147). I believe this case sets a precedent for companies such as Overstock to protect their shareholders and preserve the integrity of their shares. Overstock and its shareholders have seen nearly a forty percent increase in share price since the Complaint was filed.
Page 2
Mel Karmazin
May 8, 2007
After the alignment of XM and Sirius enterprise values and the announcement of the merger agreement, I expected the companies would trade on their merits and the constant borage of factually incorrect and/or misleading commentary would end.
With the stock at these levels, I am fearful of an unsolicited bid or private equity acquiring the Company for a nominal premium at the shareholders’ expense.
I have had conversations with Wesley Christian, the lead counsel for the Overstock suit, and other counsel who are interested in filing a similar suit on behalf of Sirius shareholders against the financial institutions that facilitated these illicit trades. Before proceeding, I am requesting a face-to-face meeting with you to ensure that the shareholders’ interest and the Company’s interest are aligned.
Very truly yours,
Michael Hartleib
MH/th
HMMM . . . DOES THIS SOUND LIKE THE RAMBLINGS OF A "NUT" "CRAZY UNCLE" "NUT BALL" ETC. ETC.?
(private note to Mel's screeners: Forget the termination clause Mel; ain't gonna happen on our watch. You will be reassigned to the mail-room before shareholders will permit that. Thanks for the mandarin-chinese reference; good to know you are getting the messages . . . now, a little less "knocking-on-wood... and a little more taking care of business)
Mike H. on the ball!
I suggest that all members of our group call ISE and their counsel and let them know that we are watching! Please note attachment.
Strictly a coincidence or have we narrowed down where all the illicit (?) trades are coming from? I and others have been doing some research and it appears as though many of the shorts on Sirius have been routed through a company formally known as Morizio Associates LLC, also known as ISEG, now reregistered with the DTCC clearing Corp. as ISEROUTE. On Thursday October 23rd I made a phone call to them and let them know that there is a group investigating all of the Sirius short sales, many of which appear to be naked, and were being placed through ISEROUTE, their company.
The gentleman I spoke with wanted to know who I was. I told him that was unimportant. I told him that Racketeering charges were going to be filled against several companies for facilitating these illicit trades. He seemed quite uncomfortable and did not want to answer many questions and suggested I talk to their compliance officer which happens to be in Los Angeles Ca. Phone Number 213- 250- 1406. I left 2 messages to please contact me. He did attempt to reach me on Friday but I was on other call and didn’t answer. I returned his call and he didn’t answer so I left a voicemail and gave more details about my concerns as to all of the short sales on Sirius being routed through their company. Within 30 min I received an incoming call from phone no.312- 902- 5438. The gentleman calling let me know that he was calling me about my concerns with ISEROUTE. I informed him that there is an investigation on going that shows on level two that millions upon millions of Sirius shares shorted are being routed thru them.
I suggested that many of these shorts were illegal and the racketeering charges would be brought forth against several companies and that ISE may be included. I explained that it has been known for quite some time that off shore hedge funds have stolen millions of dollars from Sirius share holders by nakedly shorting Sirius stock. I informed him that this was in violation of regulation. SHO which require shares shorted be borrowed from actual shares owned in brokerage accounts. His response was that they were a routing company. A pipe line to route and facilitate trades. It wasn’t their responsibility but the broker placing the trades, to insure that the trades are in compliance with regulation SHO. I informed him that this was unacceptable and amounts to nothing more than their clients robbing a bank and that they being the driver of the get away car. It wasn’t until the end of this call that he informed me that he was an attorney from the law firm of Katten Muchin and he was calling on behalf of his client ISEROUTE. So, the compliance officer never spoke with me and immediately contacted a law firm in Chicago.
Share prices up on Friday in a down market and share prices up today. Is it just a coincidence ?
Phone 609 430-0100
I suggest that every party in our group contact ISE and let them know that we will be holding them responsible for all of the illegal short sales and that they are just as responsible as the off shore hedge funds in a conspiracy to defraud shareholders and steal billions of dollars.
The ISE Stock Exchange is a part of the International Securities Exchange (ISE), a family of innovative securities markets. ISE/Eurex Announcement
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
This Blue Dog Don’t Hunt
It has Fleas
And it chases it’s tail
Eat Shi$ and Die Mel !
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
I origionally bought around $1.60..... And just last week while SIRI was in the low .30's I quickly averaged down..... and now I hold an average around .85
You on the other hand..... Just threw away a %100 gain .... Which if you truthfully told us how many shares you bought and at what price would be around $30,000..... and are calling us retarded... Haha...
I think I have justified myself when I say....
You are looking at us through the window of a shorter bus.... lol
Ignore the Pig he was removed for being a jerk and now he is back with a slightly changed name. Hit the “Report Abuse” and let Abby deal with him.
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
How is it the Wienkes is privy to information that none of us are? He states the facts as if he is certain and has inside information." further erosion of satellite radio industry demand" He contends that 2008 subscriber forecasts will be cut or missed. Sac cost higher Arpu and churn quote are moving in the wrong direction, and that the company can not even generate enough revenue to cover operating and Capitol expenses. Although Mr. Karmazin two days ago on a video interview with Autoline states he sees no evidence of increased churn or SAC. I suggest that all members of or group contact IR and Mr. Patrick Riely in PR and demand a retraction or provide a satisfactory explanation!!!! So we do not even know when Q-3 results will be released , but Wienies seems to have more info than our CEO.
CALL THEM TODAY AS I HAVE AND DEMAND AN ANSWERS. CALL THEM , CALL THEM, AND CALL THEM!!!!
212 584-5100
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
the pig is ignored. Hit Report Abuse on all of his Posts
SPELLING?
No man, I can't spell either. If you can understand what I post that is all I need. It jerks my chain when people on boards bash about spelling. I have a BA and still can't spell. But, I can change a light bulb. LOL...
VOTE NO REV SPLIT!
"White House tells banks to stop hoarding money"
Now that is funny!
Vote no Rev Split
have previously refinanced its capital structure “is now unlikely to preserve much, if any, equity value.”
Wienkes says that equity holders “are facing near-certain dilution via either higher interest charges or new share issuance,” as seen with the recently authorized 67 million share exchange for $30 million of the company’s $300 million convert - 3% of the debt set to mature next year. If the company were refinance just its remaining $670 million convert with stock, it would imply 1.47 billion more shares, or about 50% equity dilution, he notes
FOR THE LOVE OF GOD PLEASE!
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
FOR THE LOVE OF GOD PLEASE!
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
RING, RING.
Operator: "Hello. ISE, how can I help you?"
Gekko13: "Is this ISE?"
Op: "Yes it is. How can I help you?"
(A long and ugly silence)
Op: "Hello?"
(Music intensifies)
G13: "I'm watching you."
Op: "Que?"
G13: "WE...are watching you."
Op: "Who is this?"
G13: "Gekko."
Op: "Can you give me your full name please?"
G13: "No maam. Just Gekko. Gekko13 to be exact."
Op: "One moment please..."
(Dial tone; music fades...)
And the plot thickens!
Good job on the phone call. I have said that since we can't do anything else, the pressure should be put on the SEC to start monitoring this situation. I do believe the guy was right when he said that the burden was on the broker to locate the shares. At least that's what I have read. I don't think RICO laws would come into play here though, as those laws were put into play to target Cosa Nostra and their ongoing multi-crime activities as part of an enterprise. Also, you keep mentioning about the hedge funds and the shorts "stealing money from the stockholders." The reason they are making money is that weak stockholders VOLUNTARILY give up their shares, even at these ridiculous levels. The brokers are more responsible because they are the ones who are actually not following procedures. If I want to short 500,000 shares and my order goes through, I don't know if it is naked or not. All I know is that my order executed. If the broker filled it illegally, then it is on them.
did not mean to belittle the masses, your right in that spelling is no indicator of anything...but in that obnoxious guys case, I had to reach for something to "deleverage" his attitude....
Mike H. requested clarity and a retraction of the bad report from Wienke. Mike requested if the information is a lie Sirius should push for a retraction.
What does Sirius do? Defend Wienke
This tells us one of two things.
1. If the information is true, Mel Lied about being on track in his auto interview Monday.
2. Sirius is allowing the stock to be manipulated and will not even defend against untrue news.
--------------
From: Blalock, Paul [mailto:PBlalock@siriu...
Sent: Tuesday, October 28, 2008 11:55 AM
To: Michael Hartleib
Subject: GS
On the 3rd line of the report it says "our belief…"
Paul Blalock
SVP, Investor Relations
SIRIUS SATELLITE RADIO
1221 Ave of the Americas
New York, NY 10020
Mel has NO CONTROL over the stock price. He doesn't own enough shares. The control is in the hands of the secondary market; it is the puppeteer, the stock price is the puppet, and we idiots are the audience.
And the company DOES NOT have a legal duty to monitor or baby-sit the trading action in its stock. When a company goes public, its shares are bought in the PRIMARY MARKET by underwriters, brokers, investment bankers, et al, who then start to sell to the retail market (SECONDARY MARKET). Once the shares are out of the hands of the underlying corporation, it is now in the hands of the public.
This is Investing in Stocks 101 and whoever does not know this has no business being in the market, much less belly-aching.
"...and you know what happens to sheep? They get slaughtered."
--Gekko the Great, "Wall Street"
I don’t think Sirius Roderick matters much any longer.
IMO, no active investor or day trader has any confidence in Sirius or Mel and Company. People are not as stupid as Mel believes. Yes, Bush has shown us that people can be misled. But eventually the evil is uncovered.
The Sirius Goons being disruptive and positive double speak on Sirius only makes them transparent. People, even stupid people like me eventually see who is real and who is the “propagandizing Sirius Employee Goon”.
Mel and Company have done some very evil things. There is so much evil news about Mel that even if 3 things are true, we have been manipulated and cheated. It is all being uncovered now. We may never have justice. But, we will know all the truth.
This all makes me very sad…
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
Sorry there was a lot of Pig Swill I had to browse through...... Depending on the broker you use, most online accounts require you to switch the feature on, in the customer preference section. A quick call to cust. serv. will let you know if you can do it. Most IRA, SEP IRA, have some restrictions and want your to meet quarterly trade requirements, or pay to upgrade your service level to get features like pre & post or Level ll and Real Time quotes. Retirement accounts are usually employer group accounts, so administrative fees are lower an the service levels are the only way, other than trading, that they make any money on them. Call and find out, certainly opens up a whole new window of information not now available if you don't have it. Also be careful trading in these extended markets because liquidity and volume are tight and direction can change quickly. I have Ameritrade and Etrade and they make it available. Scottrade, when I was with them didn't, but that have changed. Hope this helps.
Shure46...
I didn't buy any GM, probably should but still don't trust the direction yet, but they are a primary retailer to Sirius' success. Good news for the automakers is good news for Sat Rad was my point. Good luck.
Connorport and 163888
I did get in on NM today at 2.71 and DSX at 14.16. Not a lot but starting the position building process. No matter what it does until it reports, it generally pops on the dividend announcement until the ex-dividend date, so I thought....
Why not now....?
1. You guys want to know why the stock makes these minor erratic moves? Just read the postings on this board. People are DAY TRADING it for a few pennies. This board is a self-fulfilling prophesy. Now imagine how many more are out there doing the same thing.
2. The stock was up 40% on good volume yesterday. Today it was down a couple of pennies on very low volume. GOOD SIGN. Why? The negative reports that just came out (right on schedule I might add) had NO EFFECT on the volume. In other words, the smart money is not falling for the BS.
3. Weinkes put a SELL on the stock. And there are idiots out there (sheep) who will listen. ANYONE who gets out at this level, if they are heavily underwater and originally in for the long-haul, deserves to be shot on principle alone. Anyone who puts a SELL on this stock at this level, considering the upside potential, DOES NOT have your best interest at heart. If you are day trading it, then thats a different matter.
4. Pig Farmer is just having fun with you boys, and you're letting him! He is getting the exact reactions that he wants. Pretty funny actually.
5. So last nite I'm sitting in my local watering hole across the street here on beautiful Miami Beach, a bar I affectionately named the Pig Pen. But don't get the wrong idea...this bar makes a real pig pen look like the Saudi Royal Palace! So the off-duty bartender comes up to me and says, "John, I got a joke." Now I have a very low tolerance for drunks (especially when I'm sober), so I cringe and say, "What is it?" So as I prepare my best fake laugh he begins:
"Obama dies and goes to heaven. He starts knocking on the gate and old St. Pete answers. 'Who the hell are you?' he asks.
Obama replies, 'I'm Barack Obama.'
St. Pete responds, 'So what? What have you done to deserve a place in heaven?'
'Well, I was President of the United States of America.'
'What! The U.S has never had a black president,' St. Pete declares. 'When were you elected?'
'About two minutes ago...' replied a teary-eyed Obama."
I think Mark and pig farmer are plants. No sain person would show up out of no where and then spend day after day pounding the same message over and over just for the hell of it.
It's obvious what Mark's message is and it's also obvious that he's more involved than someone who just happen to run accross Hartlieb and thinks he's a smart guy......
Who knows what pig farmers mo is. He's obviously got a mission to piss off long SIRI holders. I don't think he's trying to get us to dump shares because he thinks it's going to a dollar. Maybe he's trying to get everyone to buy more at these lows.????
What I do know, is that folks like cos1000, sl62, & 163888 are no where to be found today...........The ones that may have had different opinions but were the smartest guys here (no offense to anyone else)......
Maybe the mission of the plants was to break up this board?????????
As I'm typing that message he walks in the door............
Welcome sir.......
Gekko13 being in Miami across from the beach had me in 'Lauderdale at the Elbow Room..... with the Salt drenched speakers blasting some old rocker as I let the sun wash over my face..... just took my first sip of frosty beer... to take the edge of the day off...... the wind is about 8 knots and steady..... and the Girls are simply lovely.... that was 1981 and I still had a little hair. Been back but it just isn't the same.....
I am trying to put a time line together that ties Mark Weinkes pronouncement to the downside to the Sirius' Stock Price. I know pre-merger in June, 08 he was at around 2.25, then in July, 08 he proclaimed 1.50 and we thought how absurd but the stock went to 1.85 and then rebounded to 2.68 right before merger approval. Then merger is approved by FCC, on a Thursday/Friday, 7/31-8/1, last minute negotiations (ugly financing deal) over the weekend and 8/5 FCC issues official reports, we get details of the deal and the Stocks lent are at the exact price of Weinkes target at 1.50. The stock bounces around 1.30 and 1.53 for a couple of weeks and while all these new shares to be shorted need to make money, Weinkes 1.50 target being reached, readjusts to 1.00, and says he as easily could have said .50. Stock Price nose dives to .85 - 90, we wait for Mel, Mel speaks and the stock goes to .70 and then to .60, and Weinkes confirms new target of .50 and we are all F**k'd. Now after feeling BK Fears, Proxy Statement with a RS and Dilution of shares (all shareholders feeling betrayed by Mel), a retrace approaching his old target of .50 as we see a marketing video saying again we're working on it, what does Weinkes do????? Announces a new target of .25 and questions everything without any real changes in the company's execution.
I really would like to put shorting activity details, what companies and who and what clearing house were the trade cleared through, to the dates of each Weinkes announcement date of his new target. No one has adjusted their targets with this kind of accuracy period ever in the history of trading without insider information and spending time in jail.
Where I find myself often is wishing for the simplicity of those days..... and that simplicity for my children and grandchildren, but for me there is still work to be done....... The good news is, the generation behind us is a smart and stout bunch of guys and gals.... And the one before us saved the World..... and we are the bridge builders between the two....
I think its time for another sip of that Frosty Cold Beer..... SOBE does have that great view.... all Art Deco and stuff... visited regularly by "the up and coming" ...... on that great stretch of the sand where scantily clad "hard bodies" are awash.... I hear the fishing has something to offer too.....
I am so happy for you. Congratulations on your new found wealth and I mean that.
Gekko13
And So: Back to my Illusion of being on the Beach where their are only beautiful people, great music, warm breezes and a shared euphoria....... Check this Out: Its all I could find with SoBe and GEKKO's in the same place at the same time....
.........................www.thrillicious.com/
Mark a plant? LOL, now that is funny.
I am about as much of a plant as Obama is a Natural Born Citizen, and IMO he is not.
But don’t anyone worry about Obama being Constitutional eligible to be President. A PA Fed Judge HONORABLE R. BARCLAY SURRICK Dismissed the case.
He ruled, “Defrauding the American Public is not a Cause of Action for witch reliff can be granted”.
The appeal is already at the Supreme Court. Can the president order his own Birth Certificate be forged?
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
I do have a question though..... Why would Weinkes still be following this stock down into $0.25 land???? Seems to me like there would be bigger fish to fry in the sea for an analyst at GS.....
Another is.... How long do you think GS can get away with this manipulation (And not only GS, others too)
HONORABLE R. BARCLAY SURRICK
BERG v. OBAMA et al
dockets.justia.com/doc.../
Vote No Rev Split
Vote no More Share Issue
Kick Mel out
And as you said in your own words
"You have been awarded the honorary driver of the short bus today."
Please note the number of comments I have made is way more than 2.
I eamiled webmaster already...
Vote YES Rev Split
Vote YES More Share Issue
Nothing like 100 people all praying for somthing bad to happen to you.
People like you always get what is comming...
Mel has already stated the plan to do this..... Distibute shares... Raise cash.... Pay Off Debt...... VOILA...... Now SIRI is cash flow positive... growing Subs...a la carte.....BOB...... And that's when the shorts will be heading for the hills.....
GS would not be able to say "SIRI will have a tough time traversing through the Feb converts coming due" anymore........
That's the plan i'm voting yes for......
And for those of you who are in this long and deep ( LoL )....... Average down when the shares are diluted and below $0.10....... If you want to protect your original investment.... that's the only way to do it......
"THEY CAN'T KEEP DUMPING THIS ON SHAREHOLDERS"......
When a company goes public and distributes common shares of it's company..... It's only to be able to raise capital when needed..... In exchange you (the shareholder) get a small say in what the company does.......
And that's exactly what SIRI is trying to do Raise Capitol to pay off debt......
I'm with you! I'm losing my cojones but I am prepared to go down with the ship. If this thing does go bellyup, I'll get up, dust myself off, then get back to work so I can finance my next blunder!
Sensitivity: Confidential
savesirius@gmail.com
Sirius and XM have colluded and conspired to consolidate all of the SDARS spectrum. I and other share holders (numbers exceeding 500) have filed an action against Sirius/XM's management and board of directors for racketeering.
Mr. Karmazin was brought out of retirement by Mr. Leon Black from Apollo for the purpose of consolidating and gaining control of all of the satellite radio spectrum. He has made it clear that his own self interests and the interest of the other board members, including Mr. Leon Black, is opposed to that of the individual shareholders. Mr. Karmazin should have walked away from this merger many many months ago and should have commercially introduced interoperable radios into the market place. This would have given consumers the choice the FCC Federal Licensing Mandate required as well as Sirius XM's Joint Development Agreement.
If Mr. Karmazin would have been able to put his ego and self interest aside he would not have held his shareholders hostage during the longest delay in merger history and wait till the last minute to obtain the necessary financing for XM's debt. How does a CEO of Mr.. Karmazin's stature not have back up plans A, B and C and be forced into financing terms in the 11th hour that causes his company shareholders to lose 80% of their value in a matter of days following consummation of this merger?
Mr. Karmazin has not done anything to enhance shareholder value. On the contrary, he destroyed it. He's damaged his shareholders to the tune of billions of dollars.
The final chapter in this multi-year conspiracy will be to steal the combined company from its shareholders. The table has been set. Mr. Karmazin has publicly stated to Sarah McBride of the Wall street Journal, not more than three weeks ago, that he would "love to take the company private at these levels". Mr. Karmazin publicly admits that he would steal this company from its true owners at pennies a share if given the opportunity. Now, the Board of Directors are suggesting a 1 for 50 reverse split and massive amounts of dilution to a number of shares totaling 8 billion in the fully diluted float. I predict that after a say 1 for 40 reverse split that will give the 20cent share price a post reverse split price of $8 a share. Then what will happen the executives will pay themselves hundreds of millions of dollars in new shares, capital will be raised by issuance of these shares and then at some point in the not so distant future an offer will be made at a substantial premium to take this company private. What people will forget is that $8 a share is really 20cents to the current owners of this company (ie: the shareholders) and even at a 100%premium at $16 a share they would be stealing the company from it shareholders for a mere 40 cents a share. I and other shareholders will not stand for this. We intend to prevent this from happening by any means possible. We are going to demand Mr. Karmazin and other board members be held accountable.
savesirius@gmail.com
I called SIRI IR yesterday and actually got a call back........
The answers to all of my questions were dry and toted the company line.
One noteable answer,,,,,,,,I did ask if they were looking to handle the 2009 debt all at once or in stages. He quickly answered that they were focusing on the FEB debt at this time........
Maybe were giving too much credit to the idea of clearing it all at once??????????