Sirius XM: There’s an App for That 93 comments
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By Brandon Matthews
The XM SkyDock has begun to receive the accolades that I have been reporting would come. Rave reviews of the revolutionary new satellite radio offering are beginning to pour in, as more and more Apple (AAPL) iPhone and iPod Touch owners are coming to the realization that yes……There’s an app for that!
Out of the box, and with a basic XM monthly subscription the SkyDock brings iPhone and iPod Touch owners everything XM offers including CNBC, Major League Baseball, Oprah Winfrey, Opie and Anthony, Mad Dog Radio and all the rest of the exclusive XM lineup including its extensive commercial free music offerings to Apple Devices. Adding the “Best of Sirius” package will add the NFL, Martha Stewart, Howard Stern and lots more! A new marketing campaign dubbed Rock ‘N’ Rewards offers a cash reward for new subscribers of up to $100.00 which will actually pay for the upgrade, although the cash reward can be used for any purpose.
From a consumer standpoint, this is big news. From an investment standpoint, it’s even bigger. It has been no secret that Sirius XM Radio (SIRI) relied heavily on new car sales for far too long. Looking at the numbers that Apple reported just two days ago, it is clear that this new market represents a growth opportunity that dwarfs both the new and preowned auto markets.
Consider that out of 10 million new cars sold annually, approximately half of them are not equipped with Satellite Radio, and the “take rate” of those that are equipped stands at less than 50%. As 100% penetration comes at a snail’s pace through all the major auto manufacturers, subscriber growth will keep a similar pace.
Every new car radio carries with it a cost to Sirius XM whether or not the service is ever subscribed to. There are also issues of revenue share agreements with the automakers that cut into Sirius XM’s earnings and profit potential. All in all, new car sales have created growth and awareness of satellite radio, but that growth, as 2009 has demonstrated, has slowed as auto sales declined sharply.
According to Apple’s press release, the company sold 10.2 million iPods and 7.4 million iPhones in Q3. No number was given regarding iPod Touch devices, but the picture is clear. The company during its press conference also admitted to pent up demand heading into Q4 for the iPhone, due to supply problems that Apple has just recently begun to overcome.
With nearly 30 million iPhones alone being sold annually, the new car sales annual rate of 9-10 million vehicles can potentially be rendered a second tier market for Sirius XM Radio. This quarter may prove to be a historic quarter for Sirius XM Radio, if it can capitalize on this new market of Apple consumers. It may just be as simple as letting Apple consumers know that — “Yes…There’s an app for that!”
Position: Long SIRI
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This article has 93 comments:
WHY ARE WE WAITING FOR QUARTER THREE FOR SIRIUS????
QUARTER THREE-- PER MY GOV TAXES DEADLINE WAS SEPT 15TH!!!!!!!
WHATS THE DEAL HERE???
July + August + September = Qtr 3
October + November + December = Qtr 4
On Oct 22 10:17 AM dead elvis wrote:
> DIDNT APPLE JUST RELEASE QUARTER FOUR?
On October 14, it was announced that the employment contract of James E. Meyer, President, Operations and Sales, was extended through May, 1, 2013 at an initial base salary of $950,000 - along with an option grant of 25,184,984 shares at .5752 per share, vesting in 4 equal installments (10/14/2010, 11, 12, and 13).
I interpret this as a vote of confidence by the President of Operations and Sales and an action that places his interests alongside those of all investors in Sirius XM. Keep in mind, the timing of this action and the direct involvement he has with all current developments (positive and improving within Sirius).
Also recognize that virtually all stock option plans automatically adjust for any splits that may occur in the future. Typical language follows: "Recapitalization: Subject to any required action by shareholders, if any, the number of shares to which options [and Stock Appreciation Rights have been or] may be granted under this Plan will be adjusted proportionately for any increase or decrease in the number of outstanding shares resulting from stock splits and reverse splits. The number of shares will be adjusted to the nearest whole share."
Clearly, the actions of the President of Operations and Sales reflect a confidence in the longer term fortunes of the company that are in alignment with those of the company's shareholders.
On Oct 22 10:17 AM dead elvis wrote:
> DIDNT APPLE JUST RELEASE QUARTER FOUR?
>
> WHY ARE WE WAITING FOR QUARTER THREE FOR SIRIUS????
>
> QUARTER THREE-- PER MY GOV TAXES DEADLINE WAS SEPT 15TH!!!!!!!<br/>
>
>
> WHATS THE DEAL HERE???
Sirius Long who is crying for someone in here to get the need for r/s after 3Q results are positive (Hopefully).
Beside international money, corporate money, 401K money, Pension money etc are going to begin (if not already) pouring back into US stock market; and we are missing good long term investors.
WHY DOESN'T ANYONE IN HERE GET THAT SIMPLE LOGIC? Look at the increase in the DOW and S& P in the last few of months. Us Siri longers are missing real investors.
On Oct 22 11:57 AM PROTECT AND SERVE 0310 wrote:
> There you go again Brandon, you talk and the stock drops!!! Stop
> talking so much we know what Siri/Xm is and isn't.
either by car sales, apple, retail or whatever. They subtract churn and come up with a number for new subs and rev. growth. It doesn't matter how one speculates where they come from , but a number
is estimated for growth. Say, 500,000 or 700,000 for 2010 or whatever.
At average $12 a pop there could added $500,000 mil or $700,000
mil in. rev growth. The problem is how management handles it.
No one wants to really look at management's competence. When ever there is criticism some people start defending and
spinning for Mel and Co. It looks like some people are shills for management. Looking at management's role in handling a company
is a part of analysis. Whether it's Lewis at B of A, or Mozilla at
Countrywide, or Greenberg at AIG, or even Bernacke and Geithner.
Management is studied.
The point being even if SIRI grows it's income it comes down to how they manage it. They can blow it on high talent fee's, wasteful
overhead and operating expenses, high salaries and bonuses, and spend it away on bad advertising. This management has shown
a direction to mis-handle the budget and skim off the top for themselves and high cost talent, and maybe corruption. Some of Mel and his team supporters on this blog say go to the SEC with eveidence. If the SEC couldn't get eveidence on Madoff what makes anyone think they could get eveidence on SIRI.
Something fishy is up with SIRI. When ever the p/s gets a boost
something knocks it down. Day traders or shorters, maybe. But
there's something else going on here.
How many people here new Liberty/Malone was in a back room deal? So what makes people think some other back room deal isn't going on now?
Think about it. Why would Liberty put up the money. Were they planning to get there money back when the future profis roll in?
If that's the case that the future profits look strong wouldn't the market see that and realize the p/s and p/e will grow and now's the time to buy stock. But they don't. And when there is up momentum the p/s gets knocked down.
I still contend that the back room play between Mel and Co. and Liberty is to play the leverage game. That is to force a r/s by
keeping p/s down and then when new shares become available sell at a higher price and leverage SIRI again. This way Liberty gets its big payout and Mel gets funds from the selling of shares again.
I know people are going to attack this idea and support Mel etc., but there has to be an explanation for the way p/s moves on SIRI.
Because it's pretty obvious there will be rev. growth with new subs.
It depends how management handles it. P/s should rise unless there is something else going on. And I think there is.
Now watch I'm going to get blasted by certain people who want to shoot this down. Mel supporters I guess.
Also people should stop throwing s--t back and forth at each other
on this blog. It adds nothing to the discussion. Also, Siri-doom wants attention and why do some people give it to him.
All we need if for SiriXM to start to look out for its shareholders. I feel the same Jerrold, this is getting old. No common sense here just blah blah blah about selling this and that.
We need management to make moves that benefit the shareholders, new products are nice and of course especially when they are an accessory for a hot product. But it is not going to turn the company around, just give it a little more PR.
People want Sirius Radio, its a great product at a very affordable price. Now get this stock out of penny status!
On Oct 22 12:41 PM Jerrold Williams wrote:
> I think all credibility with this blog has been lost at this point.
> For this guy to say that this SKYDOCK opens up a new market of over
> 30 million a year iphone alone users is ridiculous!!! These people,
> assuming they have cars, have always been in the market for satelite
> radio!!!If they wanted SIRIUS XM they could have gotten it with or
> without an ipod touch/iphone and SKYDOCK! ...In fact you can get
> a better less expensive dock and play if you don't own an ipod touch/iphone...This
> whole deluded article seems to make the assumption that you get SIRIUS
> XM with a new vehicle...or now you can get it with your apple device.
> Retail (skydock included) has been dead because people need to have
> a trial of this service before they are willing to spend money on
> a monthly premium. Most people don't want to buy the device and then
> spend monthly...SKYDOCK is $119.00 and dropping. Cell phone, you
> get free or low cost, SIRIUS XM device with new car is free , cable
> tv converter is free when you pay monthly, satelite tv free....etc.....Now
> this Skydock millions are going to pay over $100.00 for the priveledge
> of paying a subscription for radio? No!!!A few will, but not nearly
> as many as would pay a subscription because hardware was included
> in new or used car and then given a free trial....All this crazy
> talk while the stock keeps tanking.....I understand you are long
> SIRI....but at least show some responsiblity to talk sense!!! This
> same author wrote in an article that this SKYDOCK will be in big
> demand worldwide including China and Switzerland!! even with no satelite
> signal!!!Totally irresponsible journalism..
On Oct 22 01:10 PM dayworker wrote:
> Everyone always speculates on how many new subs will be added
> either by car sales, apple, retail or whatever. They subtract churn
> and come up with a number for new subs and rev. growth. It doesn't
> matter how one speculates where they come from , but a number
> is estimated for growth. Say, 500,000 or 700,000 for 2010 or whatever.
>
> At average $12 a pop there could added $500,000 mil or $700,000<br/>mil
> in. rev growth. The problem is how management handles it.
> No one wants to really look at management's competence. When ever
> there is criticism some people start defending and
> spinning for Mel and Co. It looks like some people are shills for
> management. Looking at management's role in handling a company<br/>is
> a part of analysis. Whether it's Lewis at B of A, or Mozilla at
>
> Countrywide, or Greenberg at AIG, or even Bernacke and Geithner.
>
> Management is studied.
> The point being even if SIRI grows it's income it comes down to how
> they manage it. They can blow it on high talent fee's, wasteful<br/>ove...
> and operating expenses, high salaries and bonuses, and spend it away
> on bad advertising. This management has shown
> a direction to mis-handle the budget and skim off the top for themselves
> and high cost talent, and maybe corruption. Some of Mel and his team
> supporters on this blog say go to the SEC with eveidence. If the
> SEC couldn't get eveidence on Madoff what makes anyone think they
> could get eveidence on SIRI.
> Something fishy is up with SIRI. When ever the p/s gets a boost<br/>something
> knocks it down. Day traders or shorters, maybe. But
> there's something else going on here.
> How many people here new Liberty/Malone was in a back room deal?
> So what makes people think some other back room deal isn't going
> on now?
> Think about it. Why would Liberty put up the money. Were they planning
> to get there money back when the future profis roll in?
> If that's the case that the future profits look strong wouldn't the
> market see that and realize the p/s and p/e will grow and now's the
> time to buy stock. But they don't. And when there is up momentum
> the p/s gets knocked down.
> I still contend that the back room play between Mel and Co. and Liberty
> is to play the leverage game. That is to force a r/s by
> keeping p/s down and then when new shares become available sell at
> a higher price and leverage SIRI again. This way Liberty gets its
> big payout and Mel gets funds from the selling of shares again.<br/>I
> know people are going to attack this idea and support Mel etc., but
> there has to be an explanation for the way p/s moves on SIRI.
> Because it's pretty obvious there will be rev. growth with new subs.
>
> It depends how management handles it. P/s should rise unless there
> is something else going on. And I think there is.
> Now watch I'm going to get blasted by certain people who want to
> shoot this down. Mel supporters I guess.
> Also people should stop throwing s--t back and forth at each other
>
> on this blog. It adds nothing to the discussion. Also, Siri-doom
> wants attention and why do some people give it to him.
"Said woman take it slow
It'll work itself out fine
All we need is just a little patience
Said sugar make it slow
And we'll come together fine
All we need is just a little patience.
Patience...
oh yeah yeah
just a little patience"
On Oct 22 09:59 AM ScroogeMcduck wrote:
> There's been an app for that. What Sirius needs is an additional
> source of income. Perhaps a radio with a bigger screen offering visual
> advertising the way pandora does.
On Oct 22 11:57 AM PROTECT AND SERVE 0310 wrote:
> There you go again Brandon, you talk and the stock drops!!! Stop
> talking so much we know what Siri/Xm is and isn't.
1) allow other companies to integrate satelite in their products. Other companies could make SIRIUS XM devices and then SIRIUS XM would be the content provider.
2) Give customers A La Carte option.
3) Don't raise prices for 3 years...
Now, more than a year later, they haven't opened up their technology so other companies can create devices.........
The A la carte is only available on select radios and is very limited..
They weren't suppose to raise prices...yet additional radios increased $2.00 each, they put on a "music royalty fee" for each radio. They added charges for "premium internet"....I just replaced a radio and was charged a $15.00 "swap fee"!!! I paid it due to getting the radio at a great price..(xmp3 for $70.00...thanks Oprah!)...But they insist on nickel and diming current customers...and up to this point they are neglecting reaching out to new customers!!!Practically no advertising has been done!! This skydock is not the savior of the company.....!!IThere are many more millions of people without apple devices that drive than have an apple device!!!
For example....A friend of mines' mother loves gospel music and christian talk. She drives an old car and willl never have an ipod...she is over 55 years old. This age group and vehicle type is a prime prospect. Promote to them a product like the STRATUS 6, with A la carte....In this case she would get her Gospel channels, Religous talk, etc..with a $69.99 device...and only $6.99 per month....Good deal!!!!Yet no promotion of this type of deal to "average" drivers, with average cars... People focus on a $119.00 dock that requires a minum $12-$15.00 subscription, along with a $200+ apple device!!!We are in a recession!!!Market to these underserved "niche" markets! We are still in the Paradigm that you have to have a new or certified used car, You have to have a $200+ ipod and then a $100.00 dock...I have a 1995 buick, no Ipod and I have a great XM radio installed...beats any dock or pre-installed radio in any luxury car! (XMP3)...This is not a luxury item...It is radio!!very affordable to everyone if marketed correctly...Do they have a marketing department? Mel K, get out of the device business and focus on content and promoting that content to everyone who likes to be entertained away from the tv!!!Let other companies research and develop devices to use your content!!
Will we see more major technology firms following the lead of Apple in building a business model around the development of numerous Apps that appeal to consumers - in effect - an expanding universe of Apps that appear on more networks and devices?
If so - as I believe will happen rather rapidly in coming years - what will this mean for Sirius XM, in terms of opportunity for expansion?
What do you think the potential will be for Sirius
XM to work hand-in-hand with these new Apps and devices?
And get out of penny stock status!
Sirius Longer again being the voice of reason.
The other day Pell griped at me about daytrading and how you can't do it without buying 5 million shares of some high $ stock- the example was Apple.... Anyway- I went looking at APPL and reading news, and numbers etc. and came across a story with Amazon mentioned. After twenty minutes of looking at old numbers and news- I decided to play the AMZN earning report. Missed the bid on Wednesday but after watching the bid support yesterday afternoon- I played 55 shares of AMZN- in at $92.01 It sold this morning on a pre-set at 112.00- Yeah 21%- profit $1,100....
Now I can get 1800 more sahres of SIRI...
Gattalovit! Green trades - PEACE
Good try though and congrats I truly love to see others make money.
On Oct 23 10:06 AM 1more4me wrote:
> Sorry- I gotta put this out there...
>
> The other day Pell griped at me about daytrading and how you can't
> do it without buying 5 million shares of some high $ stock- the example
> was Apple.... Anyway- I went looking at APPL and reading news, and
> numbers etc. and came across a story with Amazon mentioned. After
> twenty minutes of looking at old numbers and news- I decided to play
> the AMZN earning report. Missed the bid on Wednesday but after watching
> the bid support yesterday afternoon- I played 55 shares of AMZN-
> in at $92.01 It sold this morning on a pre-set at 112.00- Yeah 21%-
> profit $1,100....
> Now I can get 1800 more sahres of SIRI...
> Gattalovit! Green trades - PEACE
that product, they should use pr, advertise here or there, develop
this or that program. AND WHY THE F--K DON'T YOU THINK
ANY OF THAT HAPPENS. IT'S THE MANAGEMENT. DON'T ANY
OF YOU GET THAT YET.
Sure there's a lot that could be done but management is not playing
that game. We had a little pop and the p/s should slowly keep
going up. Nope, knocked down again.
There will be sub growth and rev. growth and so why doesn't the
street and investors buy in. Liberty/Malone didn't put up the money
to get it back on profits. If he knew there were going to be gang buster
profits to pay him back then everyone would figure to make money
on the future profits.
The way the p/s is played the forces are going to force a r/s so
Mel can leverage SIRI again at higher p/s, no matter what Mel says
about no r/s now. There is no other scenario. Their not going to let
p/s rise.
No matter how you guys talk about new products, and promotions
etc., because that's all true. BUT THEIR NOT GOING TO DO IT.
THAT'S NOT THEIR GAME. THE GAME IS LEVERAGE, LEVERAGE, LEVERAGE.
On Oct 23 11:59 AM dayworker wrote:
> People wake up. You talk about how they should add this product or
>
> that product, they should use pr, advertise here or there, develop
>
> this or that program. AND WHY THE F--K DON'T YOU THINK
> ANY OF THAT HAPPENS. IT'S THE MANAGEMENT. DON'T ANY
> OF YOU GET THAT YET.
> Sure there's a lot that could be done but management is not playing
>
> that game. We had a little pop and the p/s should slowly keep<br/>going
> up. Nope, knocked down again.
> There will be sub growth and rev. growth and so why doesn't the<br/>street
> and investors buy in. Liberty/Malone didn't put up the money
> to get it back on profits. If he knew there were going to be gang
> buster
> profits to pay him back then everyone would figure to make money
>
> on the future profits.
> The way the p/s is played the forces are going to force a r/s so
>
> Mel can leverage SIRI again at higher p/s, no matter what Mel says
>
> about no r/s now. There is no other scenario. Their not going to
> let
> p/s rise.
> No matter how you guys talk about new products, and promotions<br/>e...
> because that's all true. BUT THEIR NOT GOING TO DO IT.
> THAT'S NOT THEIR GAME. THE GAME IS LEVERAGE, LEVERAGE, LEVERAGE.
Until the r/s happens (And it will) which will probably be after a good 3Q report (hopefully) this stock is not on their radar. Maybe it hits a $1 after 3Q results and the split gets them to $10. That will be a news making event on the Street and interest and evaluation will then be appropriate.
Our long term investment days are coming if and when the news making announcement which will lower the availabilty of shares from 3.9 billion to 390 million gets attention on Wall Street.
SIRI Long the voice of reason.
On Oct 23 11:59 AM dayworker wrote:
> People wake up. You talk about how they should add this product or
>
> that product, they should use pr, advertise here or there, develop
>
> this or that program. AND WHY THE F--K DON'T YOU THINK
> ANY OF THAT HAPPENS. IT'S THE MANAGEMENT. DON'T ANY
> OF YOU GET THAT YET.
> Sure there's a lot that could be done but management is not playing
>
> that game. We had a little pop and the p/s should slowly keep
> going up. Nope, knocked down again.
> There will be sub growth and rev. growth and so why doesn't the<br/>street
> and investors buy in. Liberty/Malone didn't put up the money
> to get it back on profits. If he knew there were going to be gang
> buster
> profits to pay him back then everyone would figure to make money
>
> on the future profits.
> The way the p/s is played the forces are going to force a r/s so
>
> Mel can leverage SIRI again at higher p/s, no matter what Mel says
>
> about no r/s now. There is no other scenario. Their not going to
> let
> p/s rise.
> No matter how you guys talk about new products, and promotions<br/>e...
> because that's all true. BUT THEIR NOT GOING TO DO IT.
> THAT'S NOT THEIR GAME. THE GAME IS LEVERAGE, LEVERAGE, LEVERAGE.
shares at a new trading price per share. Now what do you think happens with those shares that are now brought back to SIRI after
the r/s. The shares can be issued again at the higher new share price.
The new shares give SIRI a new fund source to both pay off Liberty/Malone. How else are they going to pay Liberty the 10% interest? Not out of future profits.
When they again issue the new shares that became available after the r/s they will leverage SIRI again and dilute the shares.
It's a win win for them. They have a new fund source. Liberty makes a killing. Management has new money to blow on themselves in salary and bonuses, pay high talent fees and not
worry about their other expenses.
Again it's the shareholder who gets screwed because they are not concerned about share price for the options. They take their money upfront in salary and bonuses.
I refer anyone interested in the NY Times article about the Simmons
Matteress Co. What the management's do does not relate to the
product. The assets are leveraged. I hope no one here thinks
Mel is above just using leverage to keep SIRI going (which is the price shareholders pay) while management pays itself upfront. That's how they benefit to answer the question. They are not thinking about getting the p/s higher to cash in on options. If that does happen they get a double play. Upfront money and back end money if the p/s rises and they cash the options.
A bird in the hand is worth 2 in the bush. If they leverage and pay themselves they have a bird in the hand no matter what they can
cash in options later.
I only offer this because when it's analyized why Liberty put up the
money there must have been a strategy how to get repaid. Malone is to sharp to think they would get it back in future profits. He would
want a guarantee. The guarantee is funds from selling the new shares back to the market at a higher p/s. Otherwise, think about
it. If he did it because he was sure there would be big enough profits
to repay him, then they are signalling that SIRI is going to go thru the
roof. In which case the investors would be buying like crazy.
Repeatedly Mel and Co. did not show management for shareholders interest. As many have said here there are good ideas
for new products and promotions. But management never advances the product in a strong enough way to really show SIRI is a product that will give a good return. Yet they keep rolling in debt.
That is the new wall street model. Managements want to leverage
to take out the upfront money. Unless we're talking about Apple management does not look to the product's profit to make their money. They make it on leverage.
I know everyone is thinking SIRI is a great product and I do to. And
we think if only it could just catch on with some new additions and promotions. But again I'm suggesting that Mel and Co. want a bird
in hand for themselves. And if SIRI also comes in some day with product profit they win twice.
The money for the owners is in share price. And I'm not sure but I do not believe companies can arbitrarily issue new shares without SEC and shareholder approval.
Its just not that easy.
On Oct 23 02:41 PM dayworker wrote:
> You got it. Exactly my point, The 3.9 billion shares become 390 mil
>
> shares at a new trading price per share. Now what do you think happens
> with those shares that are now brought back to SIRI after
> the r/s. The shares can be issued again at the higher new share price.
>
> The new shares give SIRI a new fund source to both pay off Liberty/Malone.
> How else are they going to pay Liberty the 10% interest? Not out
> of future profits.
> When they again issue the new shares that became available after
> the r/s they will leverage SIRI again and dilute the shares.
> It's a win win for them. They have a new fund source. Liberty makes
> a killing. Management has new money to blow on themselves in salary
> and bonuses, pay high talent fees and not
> worry about their other expenses.
> Again it's the shareholder who gets screwed because they are not
> concerned about share price for the options. They take their money
> upfront in salary and bonuses.
> I refer anyone interested in the NY Times article about the Simmons
>
> Matteress Co. What the management's do does not relate to the
> product. The assets are leveraged. I hope no one here thinks
> Mel is above just using leverage to keep SIRI going (which is the
> price shareholders pay) while management pays itself upfront. That's
> how they benefit to answer the question. They are not thinking about
> getting the p/s higher to cash in on options. If that does happen
> they get a double play. Upfront money and back end money if the p/s
> rises and they cash the options.
> A bird in the hand is worth 2 in the bush. If they leverage and pay
> themselves they have a bird in the hand no matter what they can
>
> cash in options later.
> I only offer this because when it's analyized why Liberty put up
> the
> money there must have been a strategy how to get repaid. Malone is
> to sharp to think they would get it back in future profits. He would
>
> want a guarantee. The guarantee is funds from selling the new shares
> back to the market at a higher p/s. Otherwise, think about
> it. If he did it because he was sure there would be big enough profits
>
> to repay him, then they are signalling that SIRI is going to go thru
> the
> roof. In which case the investors would be buying like crazy.
> Repeatedly Mel and Co. did not show management for shareholders interest.
> As many have said here there are good ideas
> for new products and promotions. But management never advances the
> product in a strong enough way to really show SIRI is a product that
> will give a good return. Yet they keep rolling in debt.
> That is the new wall street model. Managements want to leverage<br/>to
> take out the upfront money. Unless we're talking about Apple management
> does not look to the product's profit to make their money. They make
> it on leverage.
> I know everyone is thinking SIRI is a great product and I do to.
> And
> we think if only it could just catch on with some new additions and
> promotions. But again I'm suggesting that Mel and Co. want a bird
>
> in hand for themselves. And if SIRI also comes in some day with product
> profit they win twice.
Bad Friday
go higher. I could get back what I lost like so many others. I say
my scenario will happen. P/S will continue to get knocked everytime
it gets a pop. They're are going to force a r/s.
I'm sure Malone wants to own SIRI but Mel's not giving it up. Especially since r/s split saves it for Mel. There is no problem with the
SEC to issue shares again.
In the old days owners did want their money out of price shares. But the game has changed. Why wait for p/s when you can get out
of leveraging.
You're right that Malone will get his interest on the debt. But how?
Where is money going to come from? Profits. Exactly my point. If there are going to be these big profits then the investors are going to buy stock. But it's not going to happen because the stock keeps
getting knocked down and r/s is hanging out there. So where is
Malone going to get his interest and debt repaid? With what money?
The term which has been paying the debt is EBITDA plus Goodwill. Not profits.
And the shareholders if their proxy is used can vote on the issuance of shares. We as stockholders need to keep a check on management if we don't trust them. In my case I trust them. Mel's ultimate goal is to destroy free radio. He has a giant ego!
On Oct 23 03:33 PM dayworker wrote:
> Ok, well we'll see what happens. I would love to see share price
>
> go higher. I could get back what I lost like so many others. I say
>
> my scenario will happen. P/S will continue to get knocked everytime
>
> it gets a pop. They're are going to force a r/s.
> I'm sure Malone wants to own SIRI but Mel's not giving it up. Especially
> since r/s split saves it for Mel. There is no problem with the <br/>SEC
> to issue shares again.
> In the old days owners did want their money out of price shares.
> But the game has changed. Why wait for p/s when you can get out<br/>of
> leveraging.
> You're right that Malone will get his interest on the debt. But how?
>
> Where is money going to come from? Profits. Exactly my point. If
> there are going to be these big profits then the investors are going
> to buy stock. But it's not going to happen because the stock keeps
>
> getting knocked down and r/s is hanging out there. So where is<br/>Malone
> going to get his interest and debt repaid? With what money?
money for the owners is in the price share. Isn't price share a part
of P/E. Isn't that based on after tax rev. and profit p/s and won't
ebitda eat up any price share which you said is where the owners get their money. Isn't that basically a form of leveraging? Malone gets his
money on what Mel has leveraged to him at high interest. The point is
you didn't answer where and how Malone is going to get his principal and interest from. If it's revenue stream in general then SIRI has to bring in a lot more money. If that doesn't happen soon
then Malone has to wait years. Which brings SIRI into the next phase of debt schedule. Malone wanted a stronger guarantee.
His payout will come thru leveraging not ebitda.
I'm sure you are a moral person, honorable and have integrity. I
wouldn't project that to other wall street people. Put on a amoral
hat for looking at things dishonorably. You might see that someone
might not play it straight for the share holder. I think Mel and Co. is
amoral and will play it for themselves by leveraging.
Okay never mind I am probably insulting other people here and maybe even dayworker.
Just read a book.
On Oct 23 06:39 PM dayworker wrote:
> I'm not arguing. Apples and apples. Didn't you just say that the
>
> money for the owners is in the price share. Isn't price share a part
>
> of P/E. Isn't that based on after tax rev. and profit p/s and won't
>
> ebitda eat up any price share which you said is where the owners
> get their money. Isn't that basically a form of leveraging? Malone
> gets his
> money on what Mel has leveraged to him at high interest. The point
> is
> you didn't answer where and how Malone is going to get his principal
> and interest from. If it's revenue stream in general then SIRI has
> to bring in a lot more money. If that doesn't happen soon
> then Malone has to wait years. Which brings SIRI into the next phase
> of debt schedule. Malone wanted a stronger guarantee.
> His payout will come thru leveraging not ebitda.
> I'm sure you are a moral person, honorable and have integrity. I
>
> wouldn't project that to other wall street people. Put on a amoral
>
> hat for looking at things dishonorably. You might see that someone
>
> might not play it straight for the share holder. I think Mel and
> Co. is
> amoral and will play it for themselves by leveraging.
And yes there are many forms of DSCR that would probably work better with this corporate structre..
Just giving the basic response in fact maybe I'll pull up theu BS again and run a couple more ratios. But that wouldn't matter because the stock continues to be played like a penny stock.
Siri Longer and voice of reason
On Oct 22 11:57 AM PROTECT AND SERVE 0310 wrote:
> There you go again Brandon, you talk and the stock drops!!! Stop
> talking so much we know what Siri/Xm is and isn't.
The bottom line is still the same. Thers is a rev. stream from paying subs. There is churn and there are subs addition. There can be
estimations about what the rev. stream will be from total average of
paying subs.
Obviously all expenses have to be paid out of the rev. stream. Can
anyone answer how Malone will get paid his principal and interest?
Handling the budget is managements obligation. They have put SIRI in debt. Are they going to increase rev. stream enough to pay debts and all expenses? How many new subs in total do they have to get? And then will they be able to budget in such a way as to move SIRI into the black? Or are they going to keep taking money
for themselves and the high talent fees? That's why they are amoral.
No matter from what angle you look at the structure I don't see a scenario how Malone can get his money with out selling the shares again after a r/s. In other words Mel and Co. will keep the debt flowing while all time taking out the upfront money. That's just how
it has to play out. There won't be enough rev. stream to handle the budget otherwise. I'm open to other scenarios if anyon has one.
On Oct 24 05:19 PM dayworker wrote:
> We'll all wait and see what happens. Understanding the nuances of
> leveraging is also important.
> The bottom line is still the same. Thers is a rev. stream from paying
> subs. There is churn and there are subs addition. There can be
>
> estimations about what the rev. stream will be from total average
> of
> paying subs.
> Obviously all expenses have to be paid out of the rev. stream. Can
>
> anyone answer how Malone will get paid his principal and interest?
>
> Handling the budget is managements obligation. They have put SIRI
> in debt. Are they going to increase rev. stream enough to pay debts
> and all expenses? How many new subs in total do they have to get?
> And then will they be able to budget in such a way as to move SIRI
> into the black? Or are they going to keep taking money
> for themselves and the high talent fees? That's why they are amoral.
>
> No matter from what angle you look at the structure I don't see a
> scenario how Malone can get his money with out selling the shares
> again after a r/s. In other words Mel and Co. will keep the debt
> flowing while all time taking out the upfront money. That's just
> how
> it has to play out. There won't be enough rev. stream to handle the
> budget otherwise. I'm open to other scenarios if anyon has one.<br/>
U definately bought high prior to merger because you had no clue on how to read a balance shet and income statement. Plus you never considered the amount of money it would take to fight the free radio lobbyisst.
All you comments sound as if you learned them after your bad investment, but they do not hold water now with a merged company that no longer competes against each other for subs, talent etc.
On Oct 24 05:19 PM dayworker wrote:
> We'll all wait and see what happens. Understanding the nuances of
> leveraging is also important.
> The bottom line is still the same. Thers is a rev. stream from paying
> subs. There is churn and there are subs addition. There can be <br/>estimations
> about what the rev. stream will be from total average of
> paying subs.
> Obviously all expenses have to be paid out of the rev. stream. Can
>
> anyone answer how Malone will get paid his principal and interest?
>
> Handling the budget is managements obligation. They have put SIRI
> in debt. Are they going to increase rev. stream enough to pay debts
> and all expenses? How many new subs in total do they have to get?
> And then will they be able to budget in such a way as to move SIRI
> into the black? Or are they going to keep taking money
> for themselves and the high talent fees? That's why they are amoral.
>
> No matter from what angle you look at the structure I don't see a
> scenario how Malone can get his money with out selling the shares
> again after a r/s. In other words Mel and Co. will keep the debt
> flowing while all time taking out the upfront money. That's just
> how
> it has to play out. There won't be enough rev. stream to handle the
> budget otherwise. I'm open to other scenarios if anyon has one.<br/>
Siri earnings date 11/5 Liberty 11/3 and Dish 11/11. As we all know there was a big fight on who would bail Sirius out from bankruptcy. Liberty and Dish went head to head with Liberty winning because Malone allowed Mel to call the shots (At least in front of the scenes).
Liberty or Dish would benefit immensely from owning Sirius. In fact they would have upper hand in dealing especially with major sports contracts moving forward. They would bid on not only exclusive radio use by also television. In fact the advantages overall would be great.
Right now Liberty has 495M shares outstanding and Dish 447M shares, but yet Sirius still has 3.9 Billion shares.
After SIRIXM 3Q results reflect some future hope and the stock climbs close to a $1 the 1 to 10 r/s result in an approximate $9 to $10 share price and outstandings of 390M. Starting to get clear?
People are always asking questions on why why why? Well with (I think Liberty will win bid) the money and markets opening for Sirius threw the purchase the sky (literally) is the limit.
Liberty would purchase at a slight premium of around 1 Liberty for every 3 Sirius. The packages that can be offered would allow Liberty to crush Direct TV and give Comcast and Verizon a run for their money. New product development for home, mobile and auto use for Sirius radio (Which is already vaulted with no money to develop) would come to forefront. It makes sense. Negotiations for keeping radio talent on board would include TV programming as well. The loser which will probably be Dish would lose subs and Liberty would grow. In fact some loyal Comcast and Verizon cable subs may consider changing because of packages offered at a more reasonable price. Many of us have been looking to dump Comcast anyway because they over charge for the product.
That is why the 1 for 10 happens in November.
The voice of reason..
a 10 round bout
at the siri bell
karmazin wins first 2 rounds easily
Goldman comes back round 3-4-5-and 6
Karmazin reach down to is pride and delivers round 7 and 8
goldman goes back to the corner and gets a pep talk
from the trainer Jim cramer, the water boy motley fools, and 24/7 side doctor,
the bell ring for round 9
goldman come out from is corner and delivers a barrage of low blows to karmazin wen the referee malone was not looking, the bell rings and goldman steals round 9 the crowd stands on is feet and boos the referee,
karmazin stumble balk to is corner and gets a new set of balls
the bell rings for the last and 10 final round,
goldman seems to run out of steam but is sticking to a steady jab,
Karmazin is bleeding from is left eye cut by a had bunt from goldman, the referee malone, calls the fight doctor to takes a close look at karmazin eye, the doctor allows the fight to continue,
59 seconds left to the last and final round, karmazin takes straight jab from goldman on is bleeding left eye and goes down for the count, karmazin gets up at count of 9 karmazin switch's to a left hand, and delivers a thunder uppercut flush to goldman jaws that knocks goldman of is feet and out of the ring, the referee malone stops the fight
Karmazin wins by KO,
and the crowd chanting free cash flow, free cash flow, free cash flow.
a 10 round bout
at the siri bell
karmazin wins first 2 rounds easily
Goldman comes back round 3-4-5-and 6,
Karmazin reach down to is pride and delivers round 7 and 8,
goldman goes back to the corner and gets a pep talk
from the trainer Jim cramer, the water boy motley fools, and 24/7 side doctor,
the bell ring for round 9,
goldman comes out from is corner and delivers a barrage of low blows to karmazin wen the referee malone was not looking, the bell rings and goldman steals round 9 the crowd stands on is feet and boos the referee,
karmazin stumble back to is corner and gets a new set of balls
the bell rings for the last and 10 final round,
goldman seems to run out of steam but is sticking to a steady jab,
Karmazin is bleeding from is left eye cut by a had bunt from goldman, the referee malone calls the fight doctor to take a close look at karmazin eye, the doctor allows the fight to continue,
59 seconds left to the last and final round, karmazin takes straight jab from goldman on is bleeding left eye and goes down for the count, karmazin gets up at count of 9 karmazin switch's to a left hand, and delivers a thunder uppercut flush to goldman jaws that knocks goldman off is feet and out of the ring, the referee malone stops the fight
Karmazin wins by KO,
and the crowd chanting free cash flow, free cash flow, free cash flow.
trashing any comment. So juvenile. Pathetic.
Now the two are contradicting themselves and the in fighting begins.
All that you have said are if scenarios. The r/s happens one says,
then the other says later. Then there will be this turn around or this buyout. They both know diddly. They are only here to try and talk down any one who brings in an objective picture and criticizes Mel and Co. I told you in an earlier blog comment that they would eventually do this. Their whole point is to create diversion to keep people from seeing what's going on. They work for management and want to blind everyone to the fact that on the r/s everyone gets
screwed and that the there will be new shares issued at the higher
price to create a new fund source. If they knew anything about leveraging they wouldn't be talking so foolish about the stock price will do this or that. Because if their rosy scenarios were going to happen the street would be all over SIRI.
People don't be fooled by their denials and promise of this great
uptick. It ain't going to happen. The management will take the funds out before it comes back to share holders with higher price share.
That's just who they are.
Now one says the r/s will happen in Nov. Here's how stock holders get screwed.
If one bought 25 k shares at $2 they are in $50 k
At $.60 they have now $15,000 in equity.
After r/s they will have 2,500 at $6.
To get there $50,000 back the share price has to $20. Just to break even. From $6 to $20 with all that debt and Liberty stake. Ain't going to happen. Their just bull sh----g you.
With no r/s split the share price has back to $2. Reasonable.
But the r/s will happen some time happen and they will again sell new shares and leverage SIRI back into debt while taking the upfront money. They doth protest to much. They want to attack me and demean me. HA,HaHA.
First off they don't really know who they are blogging with and secondly their bolstering of their corporate knowledge and understanding of debt structure is pretty remedial. But they want you to believe they are above the rest of us. A joke. Corporate lackey's spinning to divert you from seeing how everyone is going to get ripped again.
I talk in easy terms because it's a blog and getting into legalese is
not required. There's no point in bothering with them because they will always divert you from how management will screw the shareholder again with the r/s and leverage. They are only here to defend the money grab by management. Ha, Ha, ha.
Maybe they want to go toe to toe with a Harvard grad and a first
rate legal mind. I can raise it a few notches if they want. OK by me.
It's easy to put them to the test. Just drop a few cases on them, some esoteric corporate legal writings, a few obscure SEC rules and we can put the whole thing into perspective. Choose your weapon of battle gentlemen. Ha, Ha, Ha.
On Oct 25 04:49 PM dayworker wrote:
> Ha, Ha, Ha. Unbelievable. You see how RAF and Pell are doing the
> same thing. Instead of keeping to a discussion they start to engage
> in these off handed remarks and demeaning statements. It really only
> shows how they are plants for Mel and Co. They want to use the typical
> Republican attack machine to try and deflate an arguement by
> trashing any comment. So juvenile. Pathetic.
> Now the two are contradicting themselves and the in fighting begins.
>
> All that you have said are if scenarios. The r/s happens one says,
>
> then the other says later. Then there will be this turn around or
> this buyout. They both know diddly. They are only here to try and
> talk down any one who brings in an objective picture and criticizes
> Mel and Co. I told you in an earlier blog comment that they would
> eventually do this. Their whole point is to create diversion to keep
> people from seeing what's going on. They work for management and
> want to blind everyone to the fact that on the r/s everyone gets
>
> screwed and that the there will be new shares issued at the higher
>
> price to create a new fund source. If they knew anything about leveraging
> they wouldn't be talking so foolish about the stock price will do
> this or that. Because if their rosy scenarios were going to happen
> the street would be all over SIRI.
> People don't be fooled by their denials and promise of this great
>
> uptick. It ain't going to happen. The management will take the funds
> out before it comes back to share holders with higher price share.
>
> That's just who they are.
> Now one says the r/s will happen in Nov. Here's how stock holders
> get screwed.
> If one bought 25 k shares at $2 they are in $50 k
> At $.60 they have now $15,000 in equity.
> After r/s they will have 2,500 at $6.
> To get there $50,000 back the share price has to $20. Just to break
> even. From $6 to $20 with all that debt and Liberty stake. Ain't
> going to happen. Their just bull sh----g you.
> With no r/s split the share price has back to $2. Reasonable. <br/>But
> the r/s will happen some time happen and they will again sell new
> shares and leverage SIRI back into debt while taking the upfront
> money. They doth protest to much. They want to attack me and demean
> me. HA,HaHA.
> First off they don't really know who they are blogging with and secondly
> their bolstering of their corporate knowledge and understanding of
> debt structure is pretty remedial. But they want you to believe they
> are above the rest of us. A joke. Corporate lackey's spinning to
> divert you from seeing how everyone is going to get ripped again.
>
> I talk in easy terms because it's a blog and getting into legalese
> is
> not required. There's no point in bothering with them because they
> will always divert you from how management will screw the shareholder
> again with the r/s and leverage. They are only here to defend the
> money grab by management. Ha, Ha, ha.
> Maybe they want to go toe to toe with a Harvard grad and a first
>
> rate legal mind. I can raise it a few notches if they want. OK by
> me.
> It's easy to put them to the test. Just drop a few cases on them,
> some esoteric corporate legal writings, a few obscure SEC rules and
> we can put the whole thing into perspective. Choose your weapon of
> battle gentlemen. Ha, Ha, Ha.
You are embarrassing Harvard...
education is point in fact to expose those who would harm others.
By challenging ,criticizing and talking truth to power is as noble a
tradition as the great institution would hope for.
As everyone can see the barbs and demeaning comments is all some have to say. They don't answer on the merits. They want only
one position , their own. They want to attack and tell people to cool it because they don't anyone to examine closely the actual inner workings of SIRI. They want people diverted away into some kind of
fantasy about the pie in the sky scenarios to keep people from facing the reality.
The reality is, yes, SIRI has a good product and a potential for some growth. But it could be in the wrong management's hands.
That's a fact and needs to be looked at. Studying the management
team of any Corporation is Bus. 101. But when ever anyone approaches a good look at Mel and Co. performance they start with
their attacks. And as you notice they haven't denied it. It really could be they are here to fend off any mobilization against management.
The bottom line is that what are the actual contractual terms under which Liberty/Malone get their money back? When and how will
SIRI get the money to pay off what they leveraged to Malone?
The fact that this was a backroom deal that no one knew about
tells us that there may be other deals going on we don't know about.
Sure some want to pump the good prospects of SIRI, the new products, auto recovery, some p/s uptick and all the rest that bodes well under a good management for good product recovery, but the fact that this management has sunk SIRI into tremendous debt, and while on the brink of BK showed very interest in cutting
their own pay and bonuses, as well as high priced talent, indicates
that management is willing to sacrifice the shareholder for their gain.
There is a philosophy in law that says false in one false in all.
In otherwords Mel and Co have shown that by paying themselves
off when the ship was going down means that the Captain, in their eyes, gets off the ship first. The share holders who put up the equity
to keep SIRI afloat have been thrown overboard. That's a fact.
And those who sing for management, always bashing any criticism
as they have been hired to do, are not willing to face up to what the
facts show.
Sure SIRI shows promise and there is some movement, but they were saved all along by equity share buyers. And those who say
people who bought shouldn't whine are singing for management
because those shareholders who saved the Corp. are getting
ripped because of greed. And when SIRI went to the edge of the abyss Mel pushed everyone over when he leaveraged what he had
left to Liberty/Malone and pretty much sold out the equity who kept it afloat.
So now ask the question, what is in the contract with Malone, the terms on when and how he will get his money? What was the guarantee?
The fact is, the equity that saved the shipped was sold out from under them. And shareholders have a legal right to know what management is doing to protect their investment. Harvard would be
very proud.
The fantasy SIRI will be $1 in Nov. is a way for them to string you along. The fantasy that after a r/s they won't sell new shares at a
higher p/s is how they keep equity holding SIRI together while they
patch the new debt leaks.
Again it has nothing to do with SIRI as product and it's potential.
The money play with Malone, the leverage play, and the fact Mel
and co. are taking for themselves is the outside backroom game.
Don't give up on the product, just realize who the Captain is.
False in one false in all.
(Harvard translation; Sir, begging your pardon, but we are woefully disinterested in your babble. Good-day Governor.)
On Oct 26 12:30 PM dayworker wrote:
> Blah, blah, blah. Blah, blah, blah, blah, blah... I'm Siridooms boy friend. Blah, blah, blah. And blahblahhha blah blah....
Wow, what intelligence and imagination. Is that all you have is to
tell people to go away? Call them stupid? What are you in grade school. Have something to say on the merits. Have something to say that shows your knowledgeable about the market direction for SIRI.
Come up something intelligent about Corporation function to pay off it's debts without pie in the sky if this or if that. Tell investor's something significant about how the p/s is going to recover and
how r/s is going to be good for SIRI.
Some peoples level of blogging is to just drool on themselves like the ignorant children they are. Say something, just something intelligent about SIRI. Don't waste your time with little school boy
rants and then run away. Say something of merit about SIRI.
We're all waiting and listening.
who gets the star and who doesn't. You need to keep on your grade school grades and check list, otherwise you wouldn't know if your in the front of the line or in the back of the line.
On Oct 26 02:56 PM dayworker wrote:
> Same old, same old from those who can't stand the truth. You can';t
> handle the truth. All you guys come up with is tell people to go
> away.
> Wow, what intelligence and imagination. Is that all you have is to
>
> tell people to go away? Call them stupid? What are you in grade school.
> Have something to say on the merits. Have something to say that shows
> your knowledgeable about the market direction for SIRI.
> Come up something intelligent about Corporation function to pay off
> it's debts without pie in the sky if this or if that. Tell investor's
> something significant about how the p/s is going to recover and<br/>how
> r/s is going to be good for SIRI.
> Some peoples level of blogging is to just drool on themselves like
> the ignorant children they are. Say something, just something intelligent
> about SIRI. Don't waste your time with little school boy
> rants and then run away. Say something of merit about SIRI.
> We're all waiting and listening.
Back the shit up, or shut the fuck up. Nuff said.
The fact is, to directly challenge your assertions; Mel Karmazin is at least a decent CEO considering he helmed the ship through a difficult merger of equals whilst the FCC dragged their feet on the longest merger decision in history. Only to be left with a monuments financial hurdle at the very onslaught of the worst economic strife since the great depression. Yet the man was able to secure financing when a multitude of others business could not. Emerging at that end with a company poised to take advantage of improving markets with a more diverse product mix and enhanced revenue streams all the while reducing cost and improving numbers across a very problematic balance sheet in percentages that rival the most successful tickers on the market.
Debt; yes it is horribly out of kilter. Thank you kindly for pointing that out as we may have missed that trivial fact over the last 2 years... Did you notice the debt retirements and refinancing for better interest rates and later dates in the last couple quarters? I believe they may be looking into that and actually working on it- so give that one a rest and lets just see if they can figure out how to get some of that 2.4 BILLION in revenue per YEAR in pocket change pushed over from operating expenses and into that bucket... I have just a tad bit of faith it will work out...
Oh- and lets not forget the fearmongers most overrated tools of late- Bankruptcy and the Reverse Split. NOT GOING TO HAPPEN! Trying to call BK on the horizon for SIRI is not even up for logical discussion anymore. So, you turn to the RS. I guess you got us there. Since no one on the planet is ethical, you probably won't believe Mel when he said in the last CC that he had options to avoiding it, wrote a letter to Nasdaq arguing that market cap should be a consideration, and even hinted to the availability of extensions to the time line. I'll assume, like most rational investors, that he doesn't particularly want the RS. Outside of that- we must all wait for the Nov 5th call to know his intentions once again if they have in fact changed.
And in closing, it is very annoying when some basher, harvard educated or not, comes along pledging Sirius's pending doom. It would be extremely prejudice of you to assume we all bought in high and rode this to the deck. In fact, there are a number of these old posters (relmor, connorport, neal barkett, cos) like myself, that have been here since the lows in February, holding 500%- 700% gains. Your preached doom won't hurt us for another 45 cents in sp decline. You might be well served to pay utmost attention to their calls re-evaluate your illogical and unsubstantiated horse hockey.
PEACE!
On Oct 26 02:56 PM dayworker wrote:
Same old, same old from those who can't stand the truth. You can';t handle the truth. All you guys come up with is tell people to go away. Wow, what intelligence and imagination. Is that all you have is to tell people to go away? Call them stupid?
Obviously, the covering of these short positions as SIRI rallied from the lows of March has been a painful process - accomplished only at losses along the way - and this is a testimony to the changing psychology of the "pro's": They would only be paying up in this manner if they wanted to prevent further losses into the future as the fundamental position of Sirius XM improved. Given the positive developments for Sirius XM that have been announced in recent weeks, this shift in psychology is rational and it explains the continuing decline in short interest.
to the salary and bonuses they pay themselves. At a time when a company is on verge of bankruptcy good management is not taking high salaries and paying out high talent fees. They showed nothing in terms of credibility that they would sacrifice to help get funds into the budget.
Second, if you are familiar with how leveraging works, then you understand that assets are used to raise funds. In this case, management raised assets by leveraging the equity of SIRI.
This again does not help shareholders. It further means the future
income from rev stream has to be committed to debt service and that is again negative to any price share earnings, hence downside
for price share.
This creates a scenario SIRI is now in. They will probably not make the delisting rule schedule and the r/s is most likely.
Again the r/s is not a plus for equity holders. The only way people
speculate it's a plus if they create rosy scenarios that after r/s it's no longer a penny stock and then new investors will jump in and raise the p/s. Why would that happen? Just because the shorters are out but the fundamentals of p/s earnings remain the same and debt obligations and service eat up the revenue.
This is all due to management's financial planning. I know everyone
wants to go back to the merger delay and financial crisis, etc. But
the fact remains that management has not sacrificed. They have still cut themselves a big piece of the pie.
Now all you have to do is reveal in writing, say this blog , your relationship to the corporation. Are you or are you not here to defend them and attack any contrary views.
When I ask the question about what is the contractual obligation
to Liberty/Malone you always avoid answering. Explain how you view SIRI is going to meet those contract obligations.
The scenario it still seems is sell shares again after the r/s at the higher price to raise funds and again dilute shares. Are you, in
writing on this blog , denying this as their motive? I'm saying that
seems like the most probable scenario. I';ve made my stand.
Again, the evidence you are looking for can only be found by being inside the board room. They keep everything basically secret.
That's why you are asking me to come up with actual facts. You want to be
able to say, see I have no specifics therefore my position is not credible. That's one of the oldest prosecutorial tricks. Show you the
evidence or I should back off.
Sometimes good investigations are based on good hunches and interpretations of past behavior. Sometimes the evidence is circumstantial. I still contend the fact they were willing to pay themselves and the high talent fees as an indication that their motives are to get their money regardless of imminent bk.
It shows, circumstantially, their self interest. If you have a scenario that you see playing out, tell us. If it's the $1 in Nov. scenario and then r/s with $9 p/s and then with sub
growth the p/s is going to go higher, then we disagree.
The fact that you want to aggressively protect them and shout out, "put up the evidence", I think pretty clearly shows you are working for them to try and put down anything said against them. This is all so old corporation spin. I'm suggesting they are hiding what they plan to do
after the r/s and that possibly has something to do with the
Malone deal. All you have to do to prove me wrong is give out the details of what the deal is and how they are going to
pay Malone.
Just because Mel came out and said, no plans for r/s, does that mean that's what he is going to do. He has to say that. Who would buy equity with a r/s on the doorstep. But
he has to get p/s higher by denying so your scenario of a $1 can happen and then get a little bigger bang for the buck for the r/s. None of this is rocket science.
I'm not blaming you for going after a contrary view or defending management as you are suppose to do, or the fact I may be pulling off the curtain to expose the wizard of oz, it's just that I want all the cards on the table. Go ahead
disagree and try and stop me from expressing my view.
In today's financial climate there are many underhanded
things going on. Many of them are the hedge fund and leveraging type. Because there is so much written now about managers who are using leveraging to reap rewards at the expense of the product and shareholders it gives investors signs to watch for. SIRI management shows those
signs and m.o. by the debt and leveraging to Malone.
Again this doesn't mean the SIRI product isn't good, it's that there is another financial game going separate from
the product. And if you are with management and don't want that exposed then it is your job to go after me. Understood.
As far everyone else who thinks it's SIRI product bashing or being negative, I understand. It's not. I'm drawing the distinction between behind the scenes money play and the
product. It's uphill for the product if there are back room deals and leveraging going on. The money play is for the managers and not the share holders.
On Oct 26 06:19 PM dayworker wrote:
> First we're looking at overall performance in terms of debt structuring
>
> to the salary and bonuses they pay themselves. At a time when a company
> is on verge of bankruptcy good management is not taking high salaries
> and paying out high talent fees. They showed nothing in terms of
> credibility that they would sacrifice to help get funds into the
> budget.
> Second, if you are familiar with how leveraging works, then you understand
> that assets are used to raise funds. In this case, management raised
> assets by leveraging the equity of SIRI.
> This again does not help shareholders. It further means the future
>
> income from rev stream has to be committed to debt service and that
> is again negative to any price share earnings, hence downside
> for price share.
> This creates a scenario SIRI is now in. They will probably not make
> the delisting rule schedule and the r/s is most likely.
> Again the r/s is not a plus for equity holders. The only way people
>
> speculate it's a plus if they create rosy scenarios that after r/s
> it's no longer a penny stock and then new investors will jump in
> and raise the p/s. Why would that happen? Just because the shorters
> are out but the fundamentals of p/s earnings remain the same and
> debt obligations and service eat up the revenue.
> This is all due to management's financial planning. I know everyone
>
> wants to go back to the merger delay and financial crisis, etc. But
>
> the fact remains that management has not sacrificed. They have still
> cut themselves a big piece of the pie.
> Now all you have to do is reveal in writing, say this blog , your
> relationship to the corporation. Are you or are you not here to defend
> them and attack any contrary views.
> When I ask the question about what is the contractual obligation
>
> to Liberty/Malone you always avoid answering. Explain how you view
> SIRI is going to meet those contract obligations.
> The scenario it still seems is sell shares again after the r/s at
> the higher price to raise funds and again dilute shares. Are you,
> in
> writing on this blog , denying this as their motive? I'm saying that
>
> seems like the most probable scenario. I';ve made my stand.
> Again, the evidence you are looking for can only be found by being
> inside the board room. They keep everything basically secret.
> That's why you are asking me to come up with actual facts. You want
> to be
> able to say, see I have no specifics therefore my position is not
> credible. That's one of the oldest prosecutorial tricks. Show you
> the
> evidence or I should back off.
> Sometimes good investigations are based on good hunches and interpretations
> of past behavior. Sometimes the evidence is circumstantial. I still
> contend the fact they were willing to pay themselves and the high
> talent fees as an indication that their motives are to get their
> money regardless of imminent bk.
> It shows, circumstantially, their self interest. If you have a scenario
> that you see playing out, tell us. If it's the $1 in Nov. scenario
> and then r/s with $9 p/s and then with sub
> growth the p/s is going to go higher, then we disagree.
> The fact that you want to aggressively protect them and shout out,
> "put up the evidence", I think pretty clearly shows you are working
> for them to try and put down anything said against them. This is
> all so old corporation spin. I'm suggesting they are hiding what
> they plan to do
> after the r/s and that possibly has something to do with the
> Malone deal. All you have to do to prove me wrong is give out the
> details of what the deal is and how they are going to
> pay Malone.
> Just because Mel came out and said, no plans for r/s, does that mean
> that's what he is going to do. He has to say that. Who would buy
> equity with a r/s on the doorstep. But
> he has to get p/s higher by denying so your scenario of a $1 can
> happen and then get a little bigger bang for the buck for the r/s.
> None of this is rocket science.
> I'm not blaming you for going after a contrary view or defending
> management as you are suppose to do, or the fact I may be pulling
> off the curtain to expose the wizard of oz, it's just that I want
> all the cards on the table. Go ahead
> disagree and try and stop me from expressing my view.
> In today's financial climate there are many underhanded
> things going on. Many of them are the hedge fund and leveraging type.
> Because there is so much written now about managers who are using
> leveraging to reap rewards at the expense of the product and shareholders
> it gives investors signs to watch for. SIRI management shows those
>
> signs and m.o. by the debt and leveraging to Malone.
> Again this doesn't mean the SIRI product isn't good, it's that there
> is another financial game going separate from
> the product. And if you are with management and don't want that exposed
> then it is your job to go after me. Understood.
> As far everyone else who thinks it's SIRI product bashing or being
> negative, I understand. It's not. I'm drawing the distinction between
> behind the scenes money play and the
> product. It's uphill for the product if there are back room deals
> and leveraging going on. The money play is for the managers and not
> the share holders.
Just like you project based on your trust in them. I'm using the method
of pattern of past behavior. Your theory they want to protect their options is exactly the point of why the leverage play is so devastating
to a company. I'll say it again. They make their money on the salaries , fees and bonuses not on the redemption of the options. If the options come in the money they win a double.
Again you say I don't provide the facts. I explained that.
I'm not in the board room. I do know how the leverage game is played.
You also avoid answering my two questions. Say it on this blog in writing. Do you or don't any of you work for SIRI and your job here is to
defend the management? Also, expalin the contract deal with Malone. Do you know the contractual obligations as to when and how Liberty/Malone get their money under the contract?
You want me to provide facts and I expressed my view. But you
still avoid my questions. Why is that I wonder.
Also, are you denying that they will not sell new shares after the r/s?
The point is that with knowledge of how management works leverage the issue is not price share or their accumalated
interest on the leverage. The leverage and the product are two separate entirely different financial plays. That is my basic point. Watch out for the leverage. It's not related to your issues of future equity in options. That is the product p/e ratio translated to p/s as traded and valued in the market. The leverage play is separate and
traded among the players in on the leverage play. It does not translate to p/s and has little to do with future options. Management wants the p/s high before r/s in order to creat enough capital for the new shares to play a part in the leverage. That's probably where you come in to challenge anyone who calls out their game and you squash anyone who might effect p/s going higher by revealing their
leverage game. That's how I see it.
Bottom line, if anyone is still reading this blog thread, Malone has to get his money from somewhere. If it's rev. stream then SIRI budget stays depressed for a long time. Otherwise, they have worked out
another scenario. Not good for SIRI.
Will see if anyone answers whether they admit to working for SIRI and if they can tell us what is the Malone contract.
The repeated allegations by SIRI-Doom and his lookalikes that I - and other investors with positive views commenting on this site are "paid employees" or "working for SIRI" - are laughable and totally without merit.
SiriusXM has way too many shares outstanding. Fact not fiction. I also believe the R/S will benefit us as shareholders and longers on this investment. Your blanket statement concerning a R/S as always a bad situation is unfounded and incorrect. And "most rational" investors understand that the amount of shares outstanding hurts the company and devalues the common shareholders ownership interest in eps. Of course "most rational" institutional and international investors frown on 3.9M shares outstanding. Only a day trader benefits from this current situation.
As soon as this stock hits over a $1 the r/s will happen. And you can Quote me on that.
Overall loved your comments just thought some statements were too strong.
RAF ignore that guy who I will not mention the name (names).
On Oct 26 05:35 PM 1more4me wrote:
> Because, goofball, where many have tried to meaningfully discuss
> one point or another with you- your replies are typical of an inferior
> investor/trader with little or no useful information to merit consideration
> within the context of deciding to buy or sell the security. You simply
> re-puke the same vomit to the assertion that management is corrupt,
> debt is too large, destiny of SIRI is bankruptcy, and we are all
> doomed to own it...
>
> The fact is, to directly challenge your assertions; Mel Karmazin
> is at least a decent CEO considering he helmed the ship through a
> difficult merger of equals whilst the FCC dragged their feet on the
> longest merger decision in history. Only to be left with a monuments
> financial hurdle at the very onslaught of the worst economic strife
> since the great depression. Yet the man was able to secure financing
> when a multitude of others business could not. Emerging at that end
> with a company poised to take advantage of improving markets with
> a more diverse product mix and enhanced revenue streams all the while
> reducing cost and improving numbers across a very problematic balance
> sheet in percentages that rival the most successful tickers on the
> market.
>
> Debt; yes it is horribly out of kilter. Thank you kindly for pointing
> that out as we may have missed that trivial fact over the last 2
> years... Did you notice the debt retirements and refinancing for
> better interest rates and later dates in the last couple quarters?
> I believe they may be looking into that and actually working on it-
> so give that one a rest and lets just see if they can figure out
> how to get some of that 2.4 BILLION in revenue per YEAR in pocket
> change pushed over from operating expenses and into that bucket...
> I have just a tad bit of faith it will work out...
>
> Oh- and lets not forget the fearmongers most overrated tools of late-
> Bankruptcy and the Reverse Split. NOT GOING TO HAPPEN! Trying to
> call BK on the horizon for SIRI is not even up for logical discussion
> anymore. So, you turn to the RS. I guess you got us there. Since
> no one on the planet is ethical, you probably won't believe Mel when
> he said in the last CC that he had options to avoiding it, wrote
> a letter to Nasdaq arguing that market cap should be a consideration,
> and even hinted to the availability of extensions to the time line.
> I'll assume, like most rational investors, that he doesn't particularly
> want the RS. Outside of that- we must all wait for the Nov 5th call
> to know his intentions once again if they have in fact changed.<br/>
>
> And in closing, it is very annoying when some basher, harvard educated
> or not, comes along pledging Sirius's pending doom. It would be extremely
> prejudice of you to assume we all bought in high and rode this to
> the deck. In fact, there are a number of these old posters (relmor,
> connorport, neal barkett, cos) like myself, that have been here since
> the lows in February, holding 500%- 700% gains. Your preached doom
> won't hurt us for another 45 cents in sp decline. You might be well
> served to pay utmost attention to their calls re-evaluate your illogical
> and unsubstantiated horse hockey.
>
> PEACE!
> Same old, same old from those who can't stand the truth. You can';t
> handle the truth. All you guys come up with is tell people to go
> away. Wow, what intelligence and imagination. Is that all you have
> is to tell people to go away? Call them stupid?
I'll agree that it works sometimes... It was a bit strong and long as I was venting against unadulturated ignorance. But- in Siri's case, I'd really be wary of it working out unless it occurs upon exceptional strength- i.e. mid to late next year @ $1.50-2.00 range or better and not a forced Nasdaq compliance issue. Buy-back would certainly be preffered, and frankly, I think the strength that will get them to the "okay to R/S" level would also be enough to get them to a buy-back level as well. (That strength would be a penny profit rather than international investors imho.)
I'm sure we'll know more in 9 days on the confrence call.
I like you- so I won't hold you to the Quote just yet....
Green trades- PEACE
On Oct 27 09:33 AM Pell wrote:
Loved your comments 1more4me, but totally disagree with "NOT GOING TO HAPPEN" on the R/S. Research some of the companies doing this recently. UIS is one. As soon as this stock hits over a $1 the r/s will happen. And you can Quote me on that.
But I'd rather see them invest any extra capital into RD instead of buying back shares. This company needs to come up with products that define their brand name, not accessories to others.
Hey I am coming up with a mighty mouse ipod/iphone holder. Wanna invest in my company. Just a joke but its shows how much Sirius needs RD capital for unique products for their subscribers. Hence my call on the Liberty Media eventual buyout, but not with 3.9M shares outstanding.
I am the voice of reason and SIRI Longer.
delisting deadline looms in March.
They r/s at around $.48-..52. New price will be around $5.
Then it drops after r/s to about $3.40-3.60 with lows around $3.20.
Next they will try to pop out some shares as soon as it gets back to
around $3.80-$4.00. After that with slow growth and debt service
coming on the horizon it will eventually settle around $1.75 after
being diluted again. Management does take out their share for salaries and fees.
Again the voice of reason stating why this stock can never sustain value without the r/s after what we all hope will be good 3Q numbers. Close to a $1 then split.
SIRI LONG
Has anyone come to my darkside on the r/s happening after the 3Q report yet? C'mon admit it. Us longers aren't gone anywhere until the 3.9Billion shares are reduced to 390 million with a higher trading value.
Even though I am Sirius long I can respect the profits the daytraders are making on this stock.
Voice of Reason!
Sorry RAF but your mind is fixed in one position and sometimes not open to the actual reality.
Siri longer and th Voice of Reason.
On Oct 28 11:57 AM R A F wrote:
> Assume 95% of all trading now is only high speed computer generated
> crossing (in-house, between desks) by major institutions capable
> of this type activity. Daily ranges are too tight for individual
> day traders to move in and out profitably, as the probability of
> buying low and selling high when daily ranges are a fraction of one
> cent is virtually non existent. This leaves the markets generally
> treading water and subject to the usual manipulation by the institutions
> mentioned above - as it is quite certain that all legitimate investors
> are now sitting on the positions they have acquired in past weeks
> and months. As the markets have remained within this lateral holding
> pattern since August (within .50 to .70 about 90% of the time), legitimate
> investors have had ample opportunity to initiate and adjust positions
> while this range was being was being worked over repeatedly. In the
> absence of any meaningful news, it is unlikely there will be any
> material buying or selling by these investors now that we are only
> a few days from the 3rd Qtr. release of earnings and guidance due
> next Thursday. Assume the "die is cast" and positions are now on
> hold while awaiting the meaningful news of next Thursday - and all
> the speculation seen in comments by posters above should now be seen
> to be just that - merely speculation, and subject to revision once
> the actual data and guidance is released.
influenced by manipulation via the use of high speed computer generated activity so give up your premise that this is a "day trader's stock" due to current share price levels. There are plenty of long term institutional holders now also aboard and perfectly willing to remain invested for the long term potential that is projected. Share price has not been an impediment to those willing to take such a stand.
On Oct 28 12:09 PM Pell wrote:
> How do you explain the more than 23 million shares traded daily on
> average? And the fractional difference in price you mentioned is
> more from beginning of day to end. However during the course of the
> day the change has been more like 1 to 2 cents and recently almost
> 3 cents, this is not even considering some of the after hour fluctuations.
>
>
> Sorry RAF but your mind is fixed in one position and sometimes not
> open to the actual reality.
>
> Siri longer and th Voice of Reason.
Again open your mind, this sort of activity does take place. Plus top institutional holders only make up 15% of the shareholders as of 6/2009 and they are in hold mode because I guaranty they didn't buy as a penny stock. And top mutual fund holders make up 7% of outstandings as of 6/2009.
So why don't you enlighten all of us and define what high speed computer generated trading is? Maybe I need to be educated and if so it would be aprreciated, honestly.
I have no motive but to protect my long postion against others who definately have alternative motives.
On Oct 28 12:28 PM R A F wrote:
> Do you really think you can pick entry and exit points profitably
> within these extremely narrow ranges? Not a chance, Pell - you would
> go broke on execution charges trying to outsmart the high speed computer
> network. Give it up, Pell - the vast majority (probably 95% of all
> daily activity) is high speed computer generated trading - and NOT
> day trading by individuals. I don't know what your agenda is, but
> it clearly is not an accurate view that SIRI is being ruled by day
> traders - this stock is being heavily
> influenced by manipulation via the use of high speed computer generated
> activity so give up your premise that this is a "day trader's stock"
> due to current share price levels. There are plenty of long term
> institutional holders now also aboard and perfectly willing to remain
> invested for the long term potential that is projected. Share price
> has not been an impediment to those willing to take such a stand.
>
"In electronic financial markets, algorithmic trading or automated trading, also known as algo trading, black-box trading or robo trading, is the use of computer programs for entering trading ORDERS with the computer algorithm deciding on aspects of the order such as the timing, price, or quantity of the order, or in many cases initiating the order without human intervention. Algorithmic Trading is widely used by pension funds, mutual funds, and other BUY SIDE(investor driven) institutional traders, to divide large trades into several smaller trades in order to manage market impact, and risk.[1][2] SELL SIDE traders, such as market makers and some hedge funds, provide liquidity to the market, generating and executing orders automatically. In this "high frequency trading" computers make the decision to initiate orders based on information that is received electronically, before human traders are even aware of the information.
Algorithmic trading may be used in any investment strategy, including market making, inter-market spreading, arbitrage, or pure speculation (including trend following). The investment decision and implementation may be augmented at any stage with algorithmic support or may operate completely automatically ("on auto-pilot").
A third of all EU and US stock trades in 2006 were driven by automatic programs, or algorithms, according to Boston-based consulting firm Aite Group LLC.[3] As of 2009, high frequency trading firms account for 73% of all US equity trading volume."
Go to Google, Pell, and input high speed computer trading
and also trading manipulation by high speed computer
You don't need me to enlighten you if you have been doing the proper reading on all this in recent months, but - just in case you have missed all of this - you will find substantial information to answer your query in the Google searches I have suggested.
On Oct 28 01:20 PM Pell wrote:
> Who says the definition a "day trader" is purely individuals? Again
> RAF one set mind. Again is the term Boiler Room absent from your
> thought process. Although highly illegal it still goes on, and with
> the SEC still elbows deep in other illegal activities they probably
> can't even worry about penny stocks at this point. Hell they missed
> Madoff for over a decade.
>
> Again open your mind, this sort of activity does take place. Plus
> top institutional holders only make up 15% of the shareholders as
> of 6/2009 and they are in hold mode because I guaranty they didn't
> buy as a penny stock. And top mutual fund holders make up 7% of outstandings
> as of 6/2009.
>
> So why don't you enlighten all of us and define what high speed computer
> generated trading is? Maybe I need to be educated and if so it would
> be aprreciated, honestly.
>
> I have no motive but to protect my long postion against others who
> definately have alternative motives.
Maybe your cronies will stop clicking a thumbs up everytime you comment. Obviously you did not quite understand High speed trading.
It is done to minimize risk, increase liquidity and maximize return and makes up 73% of trading daily.
So why doesn't it affect every other company? Oh yeah because not every company is a penny stock.
Again a Sirius Longer and voice of reason.
Now everyone could just click on thumbs up when they see my name.
Do you work for Satwaves?
Again the blackberry has other applications that compete with SiriusXM. This has no "real" affect on subscribers.
Please stop with this stuff. SiriusXM needs to come up with unique products that enhances their own brand name. An accessory is nice for PR. A mobile Siri Radio that a subscriber can walk around with would be great. A siri walkman if you please. No that would be earth shattering to the amount of new subscribers.
Sirius Long and voice of reason.
On Oct 29 11:46 AM R A F wrote:
> There's a very interesting article on Satwaves.com today: "Blackberry
> Finally Getting Sirius". Also - a lot of information in the comments
> section of that article. Well worth reading for all investors in
> SIRI.
On Oct 29 12:56 PM Pell wrote:
> No creditability anymore!
>
> Do you work for Satwaves?
>
> Again the blackberry has other applications that compete with SiriusXM.
> This has no "real" affect on subscribers.
>
> Please stop with this stuff. SiriusXM needs to come up with unique
> products that enhances their own brand name. An accessory is nice
> for PR. A mobile Siri Radio that a subscriber can walk around with
> would be great. A siri walkman if you please. No that would be earth
> shattering to the amount of new subscribers.
>
> Sirius Long and voice of reason.
Still mad you were called out on your incorrect observation of high speed trading? Do you work for Satwaves?
What are your motives RAF, hard to figure out.
Siri Long and still the voice of reason.
On Oct 29 01:05 PM R A F wrote:
> Add Pell to your list of SIRI-Doom lookalikes.
The ability to route trades among in-house desks - in effect, "painting the tape" - is inherent in this form of high speed trading.
The party line of those wishing to defend this practice is that "it adds to liquidity and efficiency, etc." - which is only partially true. To ignore the ability of institutions to manipulate markets through high speed computer generated trading indicates a certain level of naivete, Pell - which is seen in your interpretation, above.
To quote Quint from Jaws. "It just proves you highly educated fellers don't have the education to admit your wrong"!
That was my point there are other ways day trading affects this penny stock. So thanks for telling me I was right.
Is there something wrong with you? And you still didn't answer if you work for Satwaves.
By the way below average volume and stock price is up.
Sorry pal you met your match.
Siri Long and voice of reason.
On Oct 29 01:30 PM R A F wrote:
> To all who want to understand the manipulation going on via high
> speed computer trading, go to Google and search: "trading manipulation
> by high speed computer".
>
> The ability to route trades among in-house desks - in effect, "painting
> the tape" - is inherent in this form of high speed trading.
>
> The party line of those wishing to defend this practice is that "it
> adds to liquidity and efficiency, etc." - which is only partially
> true. To ignore the ability of institutions to manipulate markets
> through high speed computer generated trading indicates a certain
> level of naivete, Pell - which is seen in your interpretation, above.
>
You need a bigger boat.
We need some new info from the company.
If he disagrees ,supply us your 1040 Perhaps his compensation is MOT or various sirius products including lifetime subscriptions and spots on the Martha show.
You guys need to come clean.
On Oct 29 12:56 PM Pell wrote:
> No creditability anymore!
>
> Do you work for Satwaves?
>
> Again the blackberry has other applications that compete with SiriusXM.
> This has no "real" affect on subscribers.
>
> Please stop with this stuff. SiriusXM needs to come up with unique
> products that enhances their own brand name. An accessory is nice
> for PR. A mobile Siri Radio that a subscriber can walk around with
> would be great. A siri walkman if you please. No that would be earth
> shattering to the amount of new subscribers.
>
> Sirius Long and voice of reason.
And you are right on.
RAF has hidden agenda though and it is getting clearer and clearer every day. Can't fool a city guy for too long before you get caught. And RAF you have been snagged.
Your long winded with a greater than thou undertone has been questioned. And the answer was back tracking and manipulation of the original thought.
SiriXM needs to do the r/s at the first sign of strength which hopefully is 3Q results.
It will work out just like it is working out for UIS. If the numbers are good the real investor understands the advantage of a r/s. And UIS did the r/s days before the 3Q report.
Siri Longer and voice of reason.
Hey Pell ....to quite you
mobile Siri Radio that a subscriber can walk around with
> would be great. A siri walkman if you please
like your shoes- ever heard of siletto and stiletto2
walkman/jaws? a bit dated perhaps
you are my guess about 56 years young been thru 2 divorces read the personals and hang out on e harmony
To quote Rip Torn-
bye bye now-"Dodge Ball"
You'll be "Swimming with the Fishes"!
Laughing.
I like your humor.
In all seriousness RAF definately works for SATwaves I believe that.
Go Phillies!
On Oct 29 03:09 PM dead elvis wrote:
> Lunch is over as is all credibility.
>
> Hey Pell ....to quite you
> mobile Siri Radio that a subscriber can walk around with