WeThePeople

Sirius XM: A More than Viable Stock

I have waited over 1200 days. What's another 180.


On Aug 31 05:12 PM SIRI-Doom wrote:

> For all the newbies
>
> Wait. Wait. Wait.
>
> That is what we will be doing after September 12. We will be waiting
> forever with frustration for any news of what Mel is going to do.
>
>
> 180 days of wait...
>
> The old pre-merger longs know the story and hopless frustrating feeling
> of waiting on Mel for news...
>
> It is going to be fun...

Stock Shock: Documentary on Sirius XM Radio Manipulation Coming Soon

Will there be enough evidence to prosecute those who have destroyed the value of the company? I want heads to roll....literally, for the pain and suffering we have endured over the past several years.

6 Key Points from the Liberty / Sirius XM Deal - Merrill

Rel.

I suggest you join Hartlieb's cause. This is exactly why we are fighting Mel. All what you site above is criminal.


On Feb 19 07:22 AM relmar2003 wrote:

> After reading the Deep Capture tail told by CEO of Overstock.com,
> Patrick Byrne, decided to go back and look over everythign again,
> in case I missed something. His story is fascinating, and I implore
> everyone here to read what he has to say.
> I spent all night(no sleep) collecting data and researching what
> might be at play here. I think you will find I have made some startling
> discoveries. I reread every article from Thursday the 5th of Feb.
> till now. I read the SEC filing on the deal in its entirety. And
> I read it again. Heres what I discovered. Bare with me, this is going
> to be one hell of a long post, in fact I pretyped it out in word.
> HEHE Here goes.
> I will provide all articles I comment on with links, as well credit
> the author.
> Im going to start with the beginning and work my way forward. I will
> then post a conclusion and a summary of points.
> As a motif, I will bold face(if it transfers, otherwise I will try
> to increase the font) all points of interest, and key words. I may
> discuss them after the quote or the paragraph topic comments after.
>
>
> 1. Wall Street Journal, through an unnamed leaked source close to
> the negotiations, leaked that ECHOSTAR CEO and DISH front man Charles
> Ergen had been SECRETLY buying Sirius XM debt on the open market.
> There were many news sources who picked up the article, all naming
> it as the SOLE provider of information.
> Robert Holmes of marketwatch.com summarizes the article. Posted 12:21
> pm off the original article that broke late that night.
> www.thestreet.com/_yah...;cm_cat=FREE&c...
>
> Article takes one fact, we now know this is a true fact, and talks
> about what it may mean to Sirius. It is hinted that Ergen is seaking
> to acquire assets, or force bk. Stock soars this day. First time
> BK is a huge issue for this stock, one of the first mentions of it
> as a problem. Assumes Ergen might want assets on the cheap. Mention
> also that this deal would be terrible for stockholders. There is
> talk that he would use satellites XM has for his business.(I don’t
> think so, not compatible, a lie here) He could be after Sirius as
> simple any investment. 3 or so options are discussed. These same
> options are later discussed in later articles in the future.
> Not much good news for stockholders really. Seems to be a hostile
> takeover attempt by acquiring debt, and forcing bk. Also speculated
> it could just me a “good investment” for Ergen, as he knows Sirius
> can pay the debt, which he bought for cheap.
> So Day1. Heres what me know so far….
> Ergen has acquired some of Sirius XM outstanding debt, don’t know
> how much, or what due dates, etc.. Don’t know his intentions either.
> Also didn’t know Sirius was worried about making their Feb. payment.
> Since no word, investors were left to wonder.
> Key points in the article. He contradicts himself. First he will
> try to make Sirius appear like a failure, and in desperate need of
> help. Business model sucks, etc…
> Then he will paint a much different picture.
> Contrast.
> “..Additionally, a sharp tail-off in U.S. automobile sales, which
> is the bread and butter of Sirius XM's business, has investors worrying
> about the company's viability. Sirius XM has still yet to post a
> quarterly profit, and during its third-quarter earnings report, several
> key metrics for the company weakened, including net subscriber additions,
> the conversion rate of auto installations, and monthly churn. “…Holmes…
>
> This was the BK scare support. Written here.
> …”EchoStar's investment further complicates matters for the company.
> The Journal reported that EchoStar could acquire up to 51% or more
> of Sirius XM's bank debt, force it into bankruptcy, and then take
> control of the company in the bankruptcy process. That is potentially
> very bad news for Sirius XM shareholders who have already owned the
> stock through a roughly 90% decline since the July merger…”
> Heres an about face, and conjecture on why Ergen would want Sirius.
>
> ….is potentially a very attractive franchise on the cheap." … <br/>…Moffett
> said that Sirius XM is a perfect candidate for a takeover by Ergen,
> who has targeted several high-growth businesses in the past…. <br/>Here
> are glowing words about Sirius, used only in context to support why
> Ergen would want Sirius. Yes, this author is assuming your stupid,
> because most of us are. They don’t mind not pulling a fast one on
> the few smart people out there. They probably wouldn’t invest on
> his opinion in the first place.
> So here you have an interesting start to the news..Remember Sirius
> is taking off right now in trading. It gets as high as .25 cent premarket
> and ends up .03 cents higher for the day. This is HOURS NOW after
> this news has been out. More than one article picking up the story.
> In fact its everywhere.
> All things Digital reports is the end of Sirius, or a new beginning.
> John Paczkowski
> digitaldaily.allthings...
>
> BK scare starts. Stock hasn’t even been trading yet this day. <br/>Stock
> closes at .17 cents.
> Feb. 6th. Friday…
> Articles come out with more conjecture, but no new information.
>
> Rueters and Wall Street Journal feel he is either trying to acquire
> assets on the cheap, or attempting to force Sirius into bk, to get
> control of the company. Or he is just looking to take control of
> the company. The amount of how much debt he holds is still unknown
> at this time.
> I think it would be safe to say, no new information is given this
> day about what the deal specifics are. No fact day.
> Stock goes back to .13 cents.
> Saturday is a no news day. Basically we go into the weekend knowing
> only a couple things.
> 1. Ergen is buying Sirius debt.
> 2. Sirius MIGHT not have cash on hand to pay debt. BK word is first
> brought up to the main media readers.
> Monday, 9th of Feb.
> We find out, again no names, that Ergen offered Mel a deal IN DECEMBER.
> Yes, 2 months ago. Apparently it was a buy out offer that didn’t
> involve the common. More on that later.
> It was a take over attempt only. Would have WIPEOUT COMMONSTOCKHOLDERS
> WE ARE TOLD.
> www.thestreet.com/_yah...;cm_cat=FREE&amp;c...
>
> …Ergen has offered to inject about $500 million into Sirius and restructure
> the roughly $375 million in short-term debt he holds in return for
> control of the company. Sirius rejected the offer. …
> Ok, I take this as the offer….See if you agree with me.
> $500 million.. CASH. All the bonds from Feb. and Dec. he will rework,
> and extend. In return he is asking for control of the company. Sirius
> said no. Ok fine. Well get back to this later. Just doing the timeline
> and facts for now. Lets move on.
> More on the deal.
> …While Sirius Chief Executive Mel Karmazin had boasted that the company
> would meet its debt obligations, given the existing tight credit
> market, "banks will obviously be gun shy," Moran said, adding that
> there remains a chance that Sirius could engage in equity-for-debt
> swaps, or compromise with its bondholders, "but its options are dwindling
> and a bankruptcy is looking increasingly likely."…
>
> Notice the diction in this sentence.
>
> Bankruptcy could put pressure on Charles Ergen's EchoStar (nasdaq:
> SATS - news - people ) which has been buying a substantial amount
> of Sirius XM bank debt, possibly looking to take control of the company
> during bankruptcy proceedings. (See "Confirmed: Echostar Is Buying
> Sirius' Bank Debt, Not Convertible Debt; Aiming For Control?") <br/>This
> paragraph is confusing. First they say bk will put pressure on Ergen,
> while later is says he is trying to force bk.
> This claims he didn’t even have bonds too.
> www.forbes.com/2009/02...-
>
> Story is from Forbes.com Miriam Marcus.
> She wrote back to back articles on Sirius with very negative, and
> now we know wrong information.
>
> She uses an interesting analyst too. Check out the company she is
> quoting from…
>
> www.forbes.com/2009/02...
>
>
> Stanford Group used to bash Sirius stock. Fraudelent company with
> no reputable business.
> www.iht.com/articles/2... <br/>
>
> That’s right…Our FRIENDS FROM THE STANFORD GROUP. That’s right, of
> all the companies to pull quotes from, isnt that fun stuff. Back
> to it….
>
> Then we get the BK report about the working with bk lawyers.
>
> Ok, the Stanford group thing was very interesting, but this is even
> more interesting.
> Ok, now lets take a look at the SEC filing…
> Here is a summary..
> ….”In connection with this second loan, Liberty is receiving a 40
> percent interest in Sirius. Here, I was surprised that no mention
> of a shareholder vote was in the press release or the Form 8-K. Nasdaq
> MarketPlace Rule 4350(i) requires a shareholder vote when a Nasdaq-listed
> company issues common stock or securities convertible into common
> stock with a 20 percent or greater voting power.
>
> But there is an exception that was used in the Bear Stearns and Wachovia
> deals under a similar New York Stock Exchange rule. A company can
> forgo this shareholder vote if “the delay in securing stockholder
> approval would seriously jeopardize the financial viability of the
> enterprise.” I assume Sirius is relying on this exception, but if
> the company is going this route it is not highlighting it.
>
> In addition, there is no explanation for why 40 percent, but I assume
> that it had to be below a controlling stake in order to avoid violating
> covenants on Sirius’s other debt.
>
> The mechanics of the issuance of the 40 percent stake in Sirius is
> where it gets interesting. Liberty Media is receiving 12.5 million
> shares of convertible preferred stock in Sirius in connection with
> the loans. Upon antitrust clearance, the stock becomes convertible
> into common stock of Sirius….”
>
>
> Miriam Marcus-Forbes.com
> Has other Sirius articles..
> Story is Sirius Serious Debt.
> www.forbes.com/2009/02...
>
> Now, NASDAQ listing rules require a stockholder vote when deciding
> to sell more than 20% of voting shares to any one party(or even shares
> that can be converted to voting shares(preferred)). Mel sold 40%.
> How did he get away with this? There is a special exception that
> if there isnt time for a vote, and the company is under “dirress”,
> it is allowed.
>
> Timeline of the news is what gave it away.
> 1. Echostar buying debt.
> 2. Echostar talked to Mel in Dec.
> WOWOWOWHWOO waaaiittt a minute. Really? Hmmmmmm. Doesn’t that mean
> Malone was called 2 seconds later. They turned down Ergens deal WHICH
> WAS PROBBALY BETTER THAN MALONES. Look at what he would have given.
> Cash, and reworked all debt. All debt of 09 paid off with less loaned
> than Malone was demanding. Only difference, maybe Mel keeps his job,
> and Malone is someone theyd rather work with. Forget the stockholders,
> we will railroad another screw you right up there as**s. If we fake
> bk, then we wont have to get approval, they wont find out about the
> specifics of the Ergen deal, and we can take the Malone deal. Who
> cares that stockholders would have jumped at the Ergen deal. They
> didn’t want it. So they took it from us, and sold the company out
> from under us.
>
> Tactics used by market manipulators.
> Media.
> Lawsuits(I now feel Harleib works for a hedge fund shorting this
> stock)
> Other points..
> If you read the article about CEO of overstock.com, you will notice
> Mark Cuban is not a fan with these people, and went up against them.
> Guess who is under SEC investigation? You guessed it…
> Mark Cuban.
> Coincidence? Ya right.
> Cramer bashes this stock daily now.
> Its “worthless”
> Cramer is a notorious short seller with massive hedge fund ties.
>
> Shotgun barrel financing…
> Merger agreement is a suicide contract. Id say risk court with the
> NAB over signing that piece of sh**. They over paid of XM. This is
> how they start the short…
> Give a desperate company bad financing, and know about the deal before
> the street does.
> They were well trenched into their short way before the merger was
> complete.
> I don’t know if there is massive naked short selling on this stock,
> or its just from the normal short, but it doesn’t trade right, Ive
> always stated that from the beginning.
> NITE was named by Cramer as “setting the market for Sirius”. NITE
> is handling the shorting obviously. Cramer is bold, and in your face.
> He marked up a subena from the SEC, do you think he cares about the
> stockholder of Sirius? Ya right.
> These are all tactics described by Patrick, and I see them all in
> play here. Not saying its why its at .14 cents, but I would believe
> it if it were true,and it explains a lot.
>
> Media bad mouths Sirius and Mel and loves Malone. Stock is worthless
> and Sirius has a bad business model, but Malone is a smart investor.
> The contradictions in the media is mindnumbing.
> And the Cramer video, and more good stuff…
>
> Jim Cramer – marketwatch…stock is worthless comment
> www.thestreet.com/_yah...;cm_cat=FREE&amp;c...
>
> Points of interest. If this is a stock show, and the common is worthless,
> why is Cramer covering it?
> Take a shot at Mel, then laughs how NITE is controlling the stock.
> I almost puked when I see his face saying those words so smugly.
> Techincally admitting manipulation.
> Douglas McIntyre - Claims the stock will be zero in a few weeks.(From
> last week.)
>
> Another point..
> Why did Sirius go up with all the “bad news”..
> Maybe real investors know, if there a buyout offer, it might be a
> good deal for stockholders. Nope. We were left with the bag again.
>
> Im tired, why the ending is less organized. I tried to get this out
> in time with more order, but I think Ive made my points. There are
> some startling things I found.
> 1. Mel faked the BK scare to bypass the rules.
> 2. Media contradicted itself its its own articles, lines away. Proves
> lies, and the author is not stating his convictions, just playing
> angles.
> 3. Naked short selling might be going on here.
> 4. One of the most corrupte companies is giving analyst opinion on
> YOUR stock.
> 5. NITE is not our friend, and is responsible for where we are now,
> geez Cramer is laughing to us for admitting this. SEC cant touch
> him, and he knows it. It’s a big joke to him, watching us lose money.
>
> 6. Echostar deal was probably better for stockholders
> 7. Malone and Sirius have been talking since December.
>
> Thank you for reading my research, I hope it helped. My position
> now is VERY CAUTIOUS LONG. Im not buying anything there selling on
> this one.
>
> Still think the end game for this stock will give an out, just not
> sure how high now. Keep up the faith, stay strong, and don’t let
> them get you down!!!!

Which Banks Are Left to Help with Sirius's Financing Needs?

Why are we down 5%????????????????????...

What to Expect in Tuesday's Sirius XM Radio Conference

Answer to topic heading:

NOTHING!!!!!!!!!!!!!

See ya under a buck.

Sirius XM Merger Appeal Looks Groundless

It doesn't look groundless, my friend, it is groundless.

Why the Panic over Fannie and Freddie?

Allow me to inform you of the top three market manipulators in the world:

1. Bill Gross
2. Goldman Sachs
3. Art Cashin, UBS

A Penny Saved: Sirius Tops Street by 1¢

i cannot get access to siriusbuzz website either.

Lehman, JP Morgan Weigh in on Newly-Formed Sirius XM Radio

Tyler,

Is your website down...I have been getting the white page since about 3PM?

What the Sirius XM Radio Future May Hold

Very simple solution on the retail new car end. Most dealerships are always offering a cash back incentive, usually $2000. They drop their $2000 offer to $1500 and advertise it as $1500 cash back and FREE sat radio for 5 years.

Why Did Adelstein Reverse His Position on the SIRI-XM Merger?

Right on, Gino. The entire process was a disgrace including Goldman's hatchet people like Morgan Joseph this morning. Those AG's and Senators should be concentrating their efforts on the daily manipulation of stocks and the entire markets. If you can manipulate oil, you can manipulate any stock that trades.

Has the FCC Gone Communist?

The question we should be seeking to answer is what can we do as subscribers, consumers and investors to fight the FCC on this merger debacle? They are out of control and a politically run agency.

Arbitrage Spread Between Sirius and XM “Abnormally High” - Stifel

Goldman hides their trades via the Nasdaq and the Cincinnati. They are cowards. They are the one's who are taking down this market.

Arbitrage Spread Between Sirius and XM “Abnormally High” - Stifel

It is the firms themselves who are shorting SIRI. Wake-up people. Goldman is shorting SIRI.

Radio Merger Anniversary Comes and Goes with No Decision

We will find out the real story on why there has been NO merger decision tonight on Mad Money. Cramer intends to expose those, by naming names, who have been preventing this merger.