mlongj

Five Key Quotes from Sirius on Satellite Radio and Automakers

Never a dull moment on this one. Looks like Mel is proceeding in the right direction. I had suspected the reverse split was for the SEC levels just in case. I also understood the additional share to be the "cushion" necessary for backup. I would guess that the SEC will continue its suspension of the 1.00 beyond the deadline already in play as Sirius will not be the only one in the debt boat needing this kind of consideration. Overall, it was a positive call and things will be much better when the debt gets refinanced "in short order". As for voting on the proxy, I think it is already a done deal as there are not enough individual shareholders to stop it. Nevertheless, it is what is necessary moving forward. As long as there is no bankruptcy, everything will fall into place. The auto makers will get help and they will produce economical models. This will be part of the governments aid package/ownership play. Time is the greatest commodity, and Sirius will get the time it needs to make the merger work.

Long Sirius