gekko13's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/165565/comments http://seekingalpha.com/article/154252-blackberry-price-study-comparing-cellular-carriers?source=feed#comment-617651 617651 Thu, 06 Aug 2009 08:37:46 -0400 http://seekingalpha.com/article/103855-analysts-see-weak-auto-sales-as-real-challenge-for-sirius-xm?source=feed#comment-298841 298841 Wed, 05 Nov 2008 14:20:33 -0500 http://seekingalpha.com/article/103855-analysts-see-weak-auto-sales-as-real-challenge-for-sirius-xm?source=feed#comment-298506 298506 Wed, 05 Nov 2008 07:34:45 -0500 http://seekingalpha.com/article/103855-analysts-see-weak-auto-sales-as-real-challenge-for-sirius-xm?source=feed#comment-298504 298504 RICO) are law enforcement officials such as district attorney generals. And while the company may have done some bonehead moves, that does not make them illegal. The purpose of the board of directors is to make the decisions, no matter how smart or stupid. Calling for a reverse split is not illegal. Arranging bad financing is not illegal. Lavish spending is not illegal. Whether you agree with the system or not (I don't), it is what it is. That's the beauty of hiding behind the corporate veil. It is The Great American Sham. And the stock market is The World's Biggest Ponzi Scheme. The only way to fight is through a majority vote. Anyone here a 5% owner? Anyone here own Oppenheimer? No, I didn't think so. Next case please.]]> Wed, 05 Nov 2008 07:29:54 -0500 RICO) are law enforcement officials such as district attorney generals. And while the company may have done some bonehead moves, that does not make them illegal. The purpose of the board of directors is to make the decisions, no matter how smart or stupid. Calling for a reverse split is not illegal. Arranging bad financing is not illegal. Lavish spending is not illegal. Whether you agree with the system or not (I don't), it is what it is. That's the beauty of hiding behind the corporate veil. It is The Great American Sham. And the stock market is The World's Biggest Ponzi Scheme. The only way to fight is through a majority vote. Anyone here a 5% owner? Anyone here own Oppenheimer? No, I didn't think so. Next case please.]]> http://seekingalpha.com/article/103170-barrington-stays-positive-on-sirius?source=feed#comment-294903 294903 Fri, 31 Oct 2008 06:02:03 -0400 http://seekingalpha.com/article/102884-stifel-lowers-sirius-estimates-on-weak-auto-sales?source=feed#comment-294862 294862 Fri, 31 Oct 2008 02:31:52 -0400 http://seekingalpha.com/article/102607-is-wienkes-hobbling-sirius-xm?source=feed#comment-294815 294815 Thu, 30 Oct 2008 23:18:21 -0400 http://seekingalpha.com/article/102607-is-wienkes-hobbling-sirius-xm?source=feed#comment-294813 294813
I have a problem with "lending" the company money when the CEO is worth hundreds of millions, and the rest of the board of directors are multi-millionaires. If I have to take it up the ass I will. But I'm not gonna lube it up for them beforehand.]]> Thu, 30 Oct 2008 23:11:35 -0400
I have a problem with "lending" the company money when the CEO is worth hundreds of millions, and the rest of the board of directors are multi-millionaires. If I have to take it up the ass I will. But I'm not gonna lube it up for them beforehand.]]> http://seekingalpha.com/article/102607-is-wienkes-hobbling-sirius-xm?source=feed#comment-294035 294035
I have been a staunch defender of the company and remain bullish. But I see this move, though not necessarily negative, as a reluctant last stand. Why? Because if they didn't do this a month ago when the stock was worth much more, why now? Granted, the global economy has been derailed recently and they didn't expect this outcome. But this is their last card of the deck, unless they get the proxy approved. Again, not necessarily negative because the balance sheet will improve.]]> Thu, 30 Oct 2008 03:07:24 -0400
I have been a staunch defender of the company and remain bullish. But I see this move, though not necessarily negative, as a reluctant last stand. Why? Because if they didn't do this a month ago when the stock was worth much more, why now? Granted, the global economy has been derailed recently and they didn't expect this outcome. But this is their last card of the deck, unless they get the proxy approved. Again, not necessarily negative because the balance sheet will improve.]]> http://seekingalpha.com/article/102283-what-s-behind-sirius-big-gain?source=feed#comment-293219 293219
I'm with you! I'm losing my cojones but I am prepared to go down with the ship. If this thing does go bellyup, I'll get up, dust myself off, then get back to work so I can finance my next blunder!]]> Wed, 29 Oct 2008 04:32:39 -0400
I'm with you! I'm losing my cojones but I am prepared to go down with the ship. If this thing does go bellyup, I'll get up, dust myself off, then get back to work so I can finance my next blunder!]]> http://seekingalpha.com/article/102283-what-s-behind-sirius-big-gain?source=feed#comment-292847 292847 Tue, 28 Oct 2008 17:36:13 -0400 http://seekingalpha.com/article/102283-what-s-behind-sirius-big-gain?source=feed#comment-292807 292807
1. You guys want to know why the stock makes these minor erratic moves? Just read the postings on this board. People are DAY TRADING it for a few pennies. This board is a self-fulfilling prophesy. Now imagine how many more are out there doing the same thing.

2. The stock was up 40% on good volume yesterday. Today it was down a couple of pennies on very low volume. GOOD SIGN. Why? The negative reports that just came out (right on schedule I might add) had NO EFFECT on the volume. In other words, the smart money is not falling for the BS.

3. Weinkes put a SELL on the stock. And there are idiots out there (sheep) who will listen. ANYONE who gets out at this level, if they are heavily underwater and originally in for the long-haul, deserves to be shot on principle alone. Anyone who puts a SELL on this stock at this level, considering the upside potential, DOES NOT have your best interest at heart. If you are day trading it, then thats a different matter.

4. Pig Farmer is just having fun with you boys, and you're letting him! He is getting the exact reactions that he wants. Pretty funny actually.

5. So last nite I'm sitting in my local watering hole across the street here on beautiful Miami Beach, a bar I affectionately named the Pig Pen. But don't get the wrong idea...this bar makes a real pig pen look like the Saudi Royal Palace! So the off-duty bartender comes up to me and says, "John, I got a joke." Now I have a very low tolerance for drunks (especially when I'm sober), so I cringe and say, "What is it?" So as I prepare my best fake laugh he begins:

"Obama dies and goes to heaven. He starts knocking on the gate and old St. Pete answers. 'Who the hell are you?' he asks.

Obama replies, 'I'm Barack Obama.'

St. Pete responds, 'So what? What have you done to deserve a place in heaven?'

'Well, I was President of the United States of America.'

'What! The U.S has never had a black president,' St. Pete declares. 'When were you elected?'

'About two minutes ago...' replied a teary-eyed Obama."]]> Tue, 28 Oct 2008 16:36:43 -0400
1. You guys want to know why the stock makes these minor erratic moves? Just read the postings on this board. People are DAY TRADING it for a few pennies. This board is a self-fulfilling prophesy. Now imagine how many more are out there doing the same thing.

2. The stock was up 40% on good volume yesterday. Today it was down a couple of pennies on very low volume. GOOD SIGN. Why? The negative reports that just came out (right on schedule I might add) had NO EFFECT on the volume. In other words, the smart money is not falling for the BS.

3. Weinkes put a SELL on the stock. And there are idiots out there (sheep) who will listen. ANYONE who gets out at this level, if they are heavily underwater and originally in for the long-haul, deserves to be shot on principle alone. Anyone who puts a SELL on this stock at this level, considering the upside potential, DOES NOT have your best interest at heart. If you are day trading it, then thats a different matter.

4. Pig Farmer is just having fun with you boys, and you're letting him! He is getting the exact reactions that he wants. Pretty funny actually.

5. So last nite I'm sitting in my local watering hole across the street here on beautiful Miami Beach, a bar I affectionately named the Pig Pen. But don't get the wrong idea...this bar makes a real pig pen look like the Saudi Royal Palace! So the off-duty bartender comes up to me and says, "John, I got a joke." Now I have a very low tolerance for drunks (especially when I'm sober), so I cringe and say, "What is it?" So as I prepare my best fake laugh he begins:

"Obama dies and goes to heaven. He starts knocking on the gate and old St. Pete answers. 'Who the hell are you?' he asks.

Obama replies, 'I'm Barack Obama.'

St. Pete responds, 'So what? What have you done to deserve a place in heaven?'

'Well, I was President of the United States of America.'

'What! The U.S has never had a black president,' St. Pete declares. 'When were you elected?'

'About two minutes ago...' replied a teary-eyed Obama."]]> http://seekingalpha.com/article/102283-what-s-behind-sirius-big-gain?source=feed#comment-292773 292773
Mel has NO CONTROL over the stock price. He doesn't own enough shares. The control is in the hands of the secondary market; it is the puppeteer, the stock price is the puppet, and we idiots are the audience.

And the company DOES NOT have a legal duty to monitor or baby-sit the trading action in its stock. When a company goes public, its shares are bought in the PRIMARY MARKET by underwriters, brokers, investment bankers, et al, who then start to sell to the retail market (SECONDARY MARKET). Once the shares are out of the hands of the underlying corporation, it is now in the hands of the public.

This is Investing in Stocks 101 and whoever does not know this has no business being in the market, much less belly-aching.

"...and you know what happens to sheep? They get slaughtered."
--Gekko the Great, "Wall Street"]]> Tue, 28 Oct 2008 16:00:33 -0400
Mel has NO CONTROL over the stock price. He doesn't own enough shares. The control is in the hands of the secondary market; it is the puppeteer, the stock price is the puppet, and we idiots are the audience.

And the company DOES NOT have a legal duty to monitor or baby-sit the trading action in its stock. When a company goes public, its shares are bought in the PRIMARY MARKET by underwriters, brokers, investment bankers, et al, who then start to sell to the retail market (SECONDARY MARKET). Once the shares are out of the hands of the underlying corporation, it is now in the hands of the public.

This is Investing in Stocks 101 and whoever does not know this has no business being in the market, much less belly-aching.

"...and you know what happens to sheep? They get slaughtered."
--Gekko the Great, "Wall Street"]]> http://seekingalpha.com/article/102283-what-s-behind-sirius-big-gain?source=feed#comment-292757 292757
Good job on the phone call. I have said that since we can't do anything else, the pressure should be put on the SEC to start monitoring this situation. I do believe the guy was right when he said that the burden was on the broker to locate the shares. At least that's what I have read. I don't think RICO laws would come into play here though, as those laws were put into play to target Cosa Nostra and their ongoing multi-crime activities as part of an enterprise. Also, you keep mentioning about the hedge funds and the shorts "stealing money from the stockholders." The reason they are making money is that weak stockholders VOLUNTARILY give up their shares, even at these ridiculous levels. The brokers are more responsible because they are the ones who are actually not following procedures. If I want to short 500,000 shares and my order goes through, I don't know if it is naked or not. All I know is that my order executed. If the broker filled it illegally, then it is on them.]]> Tue, 28 Oct 2008 15:48:06 -0400
Good job on the phone call. I have said that since we can't do anything else, the pressure should be put on the SEC to start monitoring this situation. I do believe the guy was right when he said that the burden was on the broker to locate the shares. At least that's what I have read. I don't think RICO laws would come into play here though, as those laws were put into play to target Cosa Nostra and their ongoing multi-crime activities as part of an enterprise. Also, you keep mentioning about the hedge funds and the shorts "stealing money from the stockholders." The reason they are making money is that weak stockholders VOLUNTARILY give up their shares, even at these ridiculous levels. The brokers are more responsible because they are the ones who are actually not following procedures. If I want to short 500,000 shares and my order goes through, I don't know if it is naked or not. All I know is that my order executed. If the broker filled it illegally, then it is on them.]]> http://seekingalpha.com/article/102283-what-s-behind-sirius-big-gain?source=feed#comment-292755 292755
RING, RING.

Operator: "Hello. ISE, how can I help you?"

Gekko13: "Is this ISE?"

Op: "Yes it is. How can I help you?"

(A long and ugly silence)

Op: "Hello?"

(Music intensifies)

G13: "I'm watching you."

Op: "Que?"

G13: "WE...are watching you."

Op: "Who is this?"

G13: "Gekko."

Op: "Can you give me your full name please?"

G13: "No maam. Just Gekko. Gekko13 to be exact."

Op: "One moment please..."

(Dial tone; music fades...)

And the plot thickens! ]]> Tue, 28 Oct 2008 15:46:50 -0400
RING, RING.

Operator: "Hello. ISE, how can I help you?"

Gekko13: "Is this ISE?"

Op: "Yes it is. How can I help you?"

(A long and ugly silence)

Op: "Hello?"

(Music intensifies)

G13: "I'm watching you."

Op: "Que?"

G13: "WE...are watching you."

Op: "Who is this?"

G13: "Gekko."

Op: "Can you give me your full name please?"

G13: "No maam. Just Gekko. Gekko13 to be exact."

Op: "One moment please..."

(Dial tone; music fades...)

And the plot thickens! ]]> http://seekingalpha.com/article/102017-karmazin-video-provides-some-sirius-answers?source=feed#comment-292182 292182
Good job on the phone call. I have said that since we can't do anything else, the pressure should be put on the SEC to start monitoring this situation. I do believe the guy was right when he said that the burden was on the broker to locate the shares. At least that's what I have read. I don't think RICO laws would come into play here though, as those laws were put into play to target Cosa Nostra and their ongoing multi-crime activities as part of an enterprise. Also, you keep mentioning about the hedge funds and the shorts "stealing money from the stockholders." The reason they are making money is that weak stockholders VOLUNTARILY give up their shares, even at these ridiculous levels. The brokers are more responsible because they are the ones who are actually not following procedures. If I want to short 500,000 shares and my order goes through, I don't know if it is naked or not. All I know is that my order executed. If the broker filled it illegally, then it is on them.]]> Tue, 28 Oct 2008 03:55:37 -0400
Good job on the phone call. I have said that since we can't do anything else, the pressure should be put on the SEC to start monitoring this situation. I do believe the guy was right when he said that the burden was on the broker to locate the shares. At least that's what I have read. I don't think RICO laws would come into play here though, as those laws were put into play to target Cosa Nostra and their ongoing multi-crime activities as part of an enterprise. Also, you keep mentioning about the hedge funds and the shorts "stealing money from the stockholders." The reason they are making money is that weak stockholders VOLUNTARILY give up their shares, even at these ridiculous levels. The brokers are more responsible because they are the ones who are actually not following procedures. If I want to short 500,000 shares and my order goes through, I don't know if it is naked or not. All I know is that my order executed. If the broker filled it illegally, then it is on them.]]> http://seekingalpha.com/article/102017-karmazin-video-provides-some-sirius-answers?source=feed#comment-292180 292180
RING, RING.

Operator: "Hello. ISE, how can I help you?"

Gekko13: "Is this ISE?"

Op: "Yes it is. How can I help you?"

(A long and ugly silence)

Op: "Hello?"

(Music intensifies)

G13: "I'm watching you."

Op: "Que?"

G13: "WE...are watching you."

Op: "Who is this?"

G13: "Gekko."

Op: "Can you give me your full name please?"

G13: "No maam. Just Gekko. Gekko13 to be exact."

Op: "One moment please..."

(Dial tone; music fades...)

And the plot thickens!]]> Tue, 28 Oct 2008 03:33:25 -0400
RING, RING.

Operator: "Hello. ISE, how can I help you?"

Gekko13: "Is this ISE?"

Op: "Yes it is. How can I help you?"

(A long and ugly silence)

Op: "Hello?"

(Music intensifies)

G13: "I'm watching you."

Op: "Que?"

G13: "WE...are watching you."

Op: "Who is this?"

G13: "Gekko."

Op: "Can you give me your full name please?"

G13: "No maam. Just Gekko. Gekko13 to be exact."

Op: "One moment please..."

(Dial tone; music fades...)

And the plot thickens!]]> http://seekingalpha.com/article/102017-karmazin-video-provides-some-sirius-answers?source=feed#comment-292178 292178
Dude you need to take some Happy Pills or Prozac or whatever because I think you are starting to lose it. I suppose Mel was secretly behind 9/11 and was childhood friends with Bin Laden!

Mel has NO CONTROL over the stock price. He doesn't own enough shares. The control is in the hands of the secondary market; it is the puppeteer, the stock price is the puppet, and we idiots are the audience.

GET IT?]]> Tue, 28 Oct 2008 03:14:55 -0400
Dude you need to take some Happy Pills or Prozac or whatever because I think you are starting to lose it. I suppose Mel was secretly behind 9/11 and was childhood friends with Bin Laden!

Mel has NO CONTROL over the stock price. He doesn't own enough shares. The control is in the hands of the secondary market; it is the puppeteer, the stock price is the puppet, and we idiots are the audience.

GET IT?]]> http://seekingalpha.com/article/102017-karmazin-video-provides-some-sirius-answers?source=feed#comment-291820 291820
Cos, I think you are playing with fire. Why do you want to do that to yourself? You've suffered long with the rest of us and I would hate for you to be on the outside if this thing pops. If you must gamble, don't do it with your whole position, do it with half or thirds.

Siri Depressed, in a lot of interviews, the interviewers give the interviewees a preview of questions to better prepare the subject. After all, it would be better for the principal, the subject, the interviewers, and the audience to have a smooth interview. I think this was done more as a PR move by Mel to set his stockholders at ease, and to maybe attract some new investors.]]> Mon, 27 Oct 2008 16:38:27 -0400
Cos, I think you are playing with fire. Why do you want to do that to yourself? You've suffered long with the rest of us and I would hate for you to be on the outside if this thing pops. If you must gamble, don't do it with your whole position, do it with half or thirds.

Siri Depressed, in a lot of interviews, the interviewers give the interviewees a preview of questions to better prepare the subject. After all, it would be better for the principal, the subject, the interviewers, and the audience to have a smooth interview. I think this was done more as a PR move by Mel to set his stockholders at ease, and to maybe attract some new investors.]]> http://seekingalpha.com/article/101407-finally-some-good-news-for-sirius-shareholders?source=feed#comment-291759 291759
1. The auto industry is slumping, but the company now has about a 50% penetration rate, the highest its ever been.

2. The lackluster sales of cars is going to fuel PENT-UP DEMAND which will kick in as conditions improve. The low sales now will trigger higher sales later.

I agree that it is a short-term obstacle but it will be rectified.]]> Mon, 27 Oct 2008 15:13:31 -0400
1. The auto industry is slumping, but the company now has about a 50% penetration rate, the highest its ever been.

2. The lackluster sales of cars is going to fuel PENT-UP DEMAND which will kick in as conditions improve. The low sales now will trigger higher sales later.

I agree that it is a short-term obstacle but it will be rectified.]]> http://seekingalpha.com/article/101407-finally-some-good-news-for-sirius-shareholders?source=feed#comment-291214 291214 Mon, 27 Oct 2008 01:33:17 -0400 http://seekingalpha.com/article/101407-finally-some-good-news-for-sirius-shareholders?source=feed#comment-291111 291111
The world does not revolve around SiriusXM or Mel. There are thousands of stocks worldwide that have plummeted so our situation is not unique. It is a GENERAL CONDITION of the current market. For now we just need to sit tight and wait. If the stock keeps dropping and I have extra cash to flush down the toilet, I might decide to take a little flyer on it, but expecting the worst so I won't be disappointed. But I won't blame Mel or anyone else if the worst does happen; I'll blame MYSELF.]]> Sun, 26 Oct 2008 20:57:11 -0400
The world does not revolve around SiriusXM or Mel. There are thousands of stocks worldwide that have plummeted so our situation is not unique. It is a GENERAL CONDITION of the current market. For now we just need to sit tight and wait. If the stock keeps dropping and I have extra cash to flush down the toilet, I might decide to take a little flyer on it, but expecting the worst so I won't be disappointed. But I won't blame Mel or anyone else if the worst does happen; I'll blame MYSELF.]]> http://seekingalpha.com/article/101407-finally-some-good-news-for-sirius-shareholders?source=feed#comment-290629 290629
They are doing the same thing that they did to WAMU. They are feeding the frenzy, and people are reacting. It is their hidden agenda. Otherwise, why the same articles? Why not a different angle? If there is no agenda then I as a news supplier would start finding some new writers because the ones I have keep coming up with the same garbage. I have lost so much respect for Munnariz and for Motley Fool in general that I no longer read any of their pieces. When all is said and done, all they are always trying to do is to hustle their service.

How about it Relmor? Is the news being manipulated or what?]]> Sun, 26 Oct 2008 04:36:24 -0400
They are doing the same thing that they did to WAMU. They are feeding the frenzy, and people are reacting. It is their hidden agenda. Otherwise, why the same articles? Why not a different angle? If there is no agenda then I as a news supplier would start finding some new writers because the ones I have keep coming up with the same garbage. I have lost so much respect for Munnariz and for Motley Fool in general that I no longer read any of their pieces. When all is said and done, all they are always trying to do is to hustle their service.

How about it Relmor? Is the news being manipulated or what?]]> http://seekingalpha.com/article/101407-finally-some-good-news-for-sirius-shareholders?source=feed#comment-290628 290628
Folks, I don't know where to begin, there are so many ridiculous notions and ideas floating around, so I'll just talk about them randomly and in no particular order to alleviate a cluttered mind...

1- Mel is manipulating the stock price.
Really?! When a company is formed and issues its shares in the PRIMARY MARKET, they basically have no control over them anymore, unless there is a limited float and heavy insider ownership. If that is the case, then management can affect the stock price by moving large blocks. The control is transferred to the market makers, institutions, and whatever other entity there is that holds a significant stake. The less mangement owns, the less control they have. Siri management does not hold a significant stake, and there is no substantial insider buying or selling going on. The price is going down simply because THERE ARE MORE SELLERS THAN BUYERS AT THE MOMENT. The combination of negative press, a bad economy that has caused general capitulation, short-selling, and rumor-mongering has basically caused people to shit their pants and sell, even at these ridiculous levels. The same thing happened when WAMU was taken out. Only in that case, the same factors I just mentioned caused a run on the bank in the last ten days of its life. This brought their deposits down to unacceptable levels (it was planned) so the feds had the excuse to gift-wrap the bank and hand it over to J.P. Morgan and friends, and to basically put a gun to congress' head and force them to pass the bailout (another sham). So in our case, the weaklings are causing the run on Siri by selling. And because the float is so big and the percentage of insider, institutional, and 5% ownership is so small with respect to the float, price stability is in the hands of the general public, who are more susceptible to external noises just mentioned. More reason to reverse split.

2. Mel is screwing the stockholders and we should do something.
There are 300 institutions that have a stake in Siri. They are much bigger fish than us. Don't you people think that they would have taken action if something really fishy was in the works? So far, I haven't heard a peep from anyone. And these are players that have scores of employees that monitor their investments constantly. They are not just going to sit there and let the company go bankrupt, especially when the company makes so much revenue. Yeah, maybe Mel has done some questionable moves, maybe not. I for one would have handled the Cramer interview differently.

3. Siri should ask their subscribers for loans!
One of my favorites. What makes some of you think that just because someone has a subscription that they are an investor? And what makes you think that the average Joe Subscriber has enough discretionary income, especially in these tiimes, to undertake a risky investment? And what makes you think that a subscriber really gives a sh*t about another corporation's financial crisis in a time where people are angry at Corporate America? If someone that I did business with came to me for a handout, bells would go off in my head and I would start to keep my eyes open.

3. Let's all cancel our subscriptions!
You mean go back to listening to the terrestial crap? Go ahead. I bet you can't last a week! Everyone knows that if you've been eating turnips your whole life and then you taste a steak, it's gonna be pretty damn hard to go back to turnips. And even if all 100 or so of us did cancel, what would that accomplish? The company would lose $1400 a month in revenue. Yeah, they will definitely have to file for bankruptcy then.

4. The company should make a special stock offer to the current stockholders.
If I want more stock, I'll go and buy more stock in the open market. Why would I pay .45 when I can get it for .25? And why would the company sell me stock at .15 when they can sell it on the open market for .25? And won't that cause further dilution, which is what most people here are crying about?

5. The company is going to dump another 3.5 billion shares on us.
At the current price, it would be idiotic! If they get the approval there is no way they would sell them on the open market. What would they get, .10? They most likely will sell the stock in a closed sale or reverse first then sell at the higher price. The latter option is the one I favor as it will enable them to liquidate their complete debt, diminish the float, and add stability to the stock price. Shorting will not be an issue anymore, as a 1:20 split will bring the float down to 400 million. Shorts will not touch a company with a 400 million share float because a stock can pop or drop dramatically on any news or change in fundamentals. And with a debt-free Sirius and revenues approaching 2.5 billion, those fundamentals and news releases will be nothing but positive.

If we need to place blame, there are two entities which we can blame more than Mel: The FCC and the SEC. The FCC for obvious reasons. But the SEC is not enforcing the naked shorting rule, which constitutes negligence in my eyes. We should be concentrating our efforts on being a royal pain in the SEC's ass.

In closing, I feel that if the proxy proposals are not in our best interest, then the big boys will vote against it, and they are better at this than us. For now, we need to stop panicking and hold on to our shares. What would saving a measly .23 mean to us, who are averaged at much higher prices? We should just think of it as money lost, a lesson learned, and go down with the ship. And for those who do not have a margin account, contact your broker and specifically state that you DO NOT want your Siri shares lent out for shorting purposes.

Capitulation is irrational selling. It's when people are in an emotional frenzy and panic. It's when they don't care anymore. It's when they SHIT THEIR PANTS.

That's what is happening on this board...people have shit their pants. ]]> Sun, 26 Oct 2008 04:19:10 -0400
Folks, I don't know where to begin, there are so many ridiculous notions and ideas floating around, so I'll just talk about them randomly and in no particular order to alleviate a cluttered mind...

1- Mel is manipulating the stock price.
Really?! When a company is formed and issues its shares in the PRIMARY MARKET, they basically have no control over them anymore, unless there is a limited float and heavy insider ownership. If that is the case, then management can affect the stock price by moving large blocks. The control is transferred to the market makers, institutions, and whatever other entity there is that holds a significant stake. The less mangement owns, the less control they have. Siri management does not hold a significant stake, and there is no substantial insider buying or selling going on. The price is going down simply because THERE ARE MORE SELLERS THAN BUYERS AT THE MOMENT. The combination of negative press, a bad economy that has caused general capitulation, short-selling, and rumor-mongering has basically caused people to shit their pants and sell, even at these ridiculous levels. The same thing happened when WAMU was taken out. Only in that case, the same factors I just mentioned caused a run on the bank in the last ten days of its life. This brought their deposits down to unacceptable levels (it was planned) so the feds had the excuse to gift-wrap the bank and hand it over to J.P. Morgan and friends, and to basically put a gun to congress' head and force them to pass the bailout (another sham). So in our case, the weaklings are causing the run on Siri by selling. And because the float is so big and the percentage of insider, institutional, and 5% ownership is so small with respect to the float, price stability is in the hands of the general public, who are more susceptible to external noises just mentioned. More reason to reverse split.

2. Mel is screwing the stockholders and we should do something.
There are 300 institutions that have a stake in Siri. They are much bigger fish than us. Don't you people think that they would have taken action if something really fishy was in the works? So far, I haven't heard a peep from anyone. And these are players that have scores of employees that monitor their investments constantly. They are not just going to sit there and let the company go bankrupt, especially when the company makes so much revenue. Yeah, maybe Mel has done some questionable moves, maybe not. I for one would have handled the Cramer interview differently.

3. Siri should ask their subscribers for loans!
One of my favorites. What makes some of you think that just because someone has a subscription that they are an investor? And what makes you think that the average Joe Subscriber has enough discretionary income, especially in these tiimes, to undertake a risky investment? And what makes you think that a subscriber really gives a sh*t about another corporation's financial crisis in a time where people are angry at Corporate America? If someone that I did business with came to me for a handout, bells would go off in my head and I would start to keep my eyes open.

3. Let's all cancel our subscriptions!
You mean go back to listening to the terrestial crap? Go ahead. I bet you can't last a week! Everyone knows that if you've been eating turnips your whole life and then you taste a steak, it's gonna be pretty damn hard to go back to turnips. And even if all 100 or so of us did cancel, what would that accomplish? The company would lose $1400 a month in revenue. Yeah, they will definitely have to file for bankruptcy then.

4. The company should make a special stock offer to the current stockholders.
If I want more stock, I'll go and buy more stock in the open market. Why would I pay .45 when I can get it for .25? And why would the company sell me stock at .15 when they can sell it on the open market for .25? And won't that cause further dilution, which is what most people here are crying about?

5. The company is going to dump another 3.5 billion shares on us.
At the current price, it would be idiotic! If they get the approval there is no way they would sell them on the open market. What would they get, .10? They most likely will sell the stock in a closed sale or reverse first then sell at the higher price. The latter option is the one I favor as it will enable them to liquidate their complete debt, diminish the float, and add stability to the stock price. Shorting will not be an issue anymore, as a 1:20 split will bring the float down to 400 million. Shorts will not touch a company with a 400 million share float because a stock can pop or drop dramatically on any news or change in fundamentals. And with a debt-free Sirius and revenues approaching 2.5 billion, those fundamentals and news releases will be nothing but positive.

If we need to place blame, there are two entities which we can blame more than Mel: The FCC and the SEC. The FCC for obvious reasons. But the SEC is not enforcing the naked shorting rule, which constitutes negligence in my eyes. We should be concentrating our efforts on being a royal pain in the SEC's ass.

In closing, I feel that if the proxy proposals are not in our best interest, then the big boys will vote against it, and they are better at this than us. For now, we need to stop panicking and hold on to our shares. What would saving a measly .23 mean to us, who are averaged at much higher prices? We should just think of it as money lost, a lesson learned, and go down with the ship. And for those who do not have a margin account, contact your broker and specifically state that you DO NOT want your Siri shares lent out for shorting purposes.

Capitulation is irrational selling. It's when people are in an emotional frenzy and panic. It's when they don't care anymore. It's when they SHIT THEIR PANTS.

That's what is happening on this board...people have shit their pants. ]]> http://seekingalpha.com/article/100817-sirius-xm-issues-67-million-shares-to-gain-breathing-room?source=feed#comment-287606 287606
If they approve the share increase, there will be a total of 8 billion shares. The 1:20 reversal will bring that amount down to 400 million. 160 million are already spoken for (by us for example) at the new price of roughly $7.20. Now they can bring the new shares to the institutions in large chunks and at discount. No one is saying that the remaining shares will be dumped on the open market; that would be idiotic. Institutions buy for the long-haul. Why would they be interested in buying? Simple. You now have a debt-free company with a small float which will be making 2.4 billion in revenue (by today's conservative estimates). Keep in mind that this revenue number will be much higher when the auto market rebounds, the economy improves, satellite radio catches fire, and the merger synergies start to blossom. At six dollars and change this is a no-brainer for the institutions.]]> Wed, 22 Oct 2008 05:59:56 -0400
If they approve the share increase, there will be a total of 8 billion shares. The 1:20 reversal will bring that amount down to 400 million. 160 million are already spoken for (by us for example) at the new price of roughly $7.20. Now they can bring the new shares to the institutions in large chunks and at discount. No one is saying that the remaining shares will be dumped on the open market; that would be idiotic. Institutions buy for the long-haul. Why would they be interested in buying? Simple. You now have a debt-free company with a small float which will be making 2.4 billion in revenue (by today's conservative estimates). Keep in mind that this revenue number will be much higher when the auto market rebounds, the economy improves, satellite radio catches fire, and the merger synergies start to blossom. At six dollars and change this is a no-brainer for the institutions.]]> http://seekingalpha.com/article/100817-sirius-xm-issues-67-million-shares-to-gain-breathing-room?source=feed#comment-287605 287605 Wed, 22 Oct 2008 05:51:33 -0400 http://seekingalpha.com/article/100371-is-a-reverse-split-in-the-cards-for-sirius?source=feed#comment-286926 286926
Cramer's Revelations:

1. "Company has never been profitable in 16 years."

Gee, thanks for that revelation! None of us here were aware of that fact. Did you bribe someone in the SEC or the FBI for that info? What would we do without your insight on this board? Guess what? I have a secret for you: "Past results are not indicative of future performance."

2. "Overpriced, unproductive talent like the Mad Dog."

Here is my take on that signing from two months ago on this website:

"NYGiants58, you are missing the point...whether Russo knows his stuff or doesn't, DOESN'T MATTER. He can be the biggest fake or ignorant in the world, or he can be a sports genious. DOESN'T MATTER. He has a devoted audience and will bring in new listeners.

To give you an idea of how much money he will generate...he signed a $15,000,000 five-year contract, which comes out to $250,000 a month in salary. If the average plan is $12.95 per month, then Russo only needs bring in roughly 19,305 new subscribers to Sirius XM for them to cover his salary. That is just the beginning. It doesn't take into effect the additional ad revenue he will generate. If it is true what another poster said that he is expected to bring in 1 million to 2 million new subscribers, then we are talking about a monthly revenue increase of roughly $13,000,000 to $26,000,000. This again is not taking into account additional ad revenue.

So you see, it doesn't matter if the Mad Dog is a deaf-mute...he is a valuable addition to the team."

By the way, I'm not a Russo fan. I had never heard of him before he signed with Sirius.

3. "Shares reaching the 8 billion mark."

Really? Last I checked they had authorization for 4.5 billion. Oh, you mean the new 3.5 billion that they are asking for? Along with the reverse split that will go hand-in-hand with the issuance?

4. "Wireless internet increasingly available everywhere."

WOW! Another startling revelation we weren't aware of. You are on fire.
I suppose Netflix and all the cable companies should all pack it in too, since movies can now be streamed on the computer. Wireless internet will not work well in cars. The two mediums will not compete with each other, at least not in the auto market.

If you are going to keep bashing, at least support your arguments with some facts. We are still waiting for your theory on the recent filings since none of ours seem to meet your standards.

We do agree on one thing though: Sirius does seem to spend a lot of money on frivolous PR releases.]]> Tue, 21 Oct 2008 05:10:25 -0400
Cramer's Revelations:

1. "Company has never been profitable in 16 years."

Gee, thanks for that revelation! None of us here were aware of that fact. Did you bribe someone in the SEC or the FBI for that info? What would we do without your insight on this board? Guess what? I have a secret for you: "Past results are not indicative of future performance."

2. "Overpriced, unproductive talent like the Mad Dog."

Here is my take on that signing from two months ago on this website:

"NYGiants58, you are missing the point...whether Russo knows his stuff or doesn't, DOESN'T MATTER. He can be the biggest fake or ignorant in the world, or he can be a sports genious. DOESN'T MATTER. He has a devoted audience and will bring in new listeners.

To give you an idea of how much money he will generate...he signed a $15,000,000 five-year contract, which comes out to $250,000 a month in salary. If the average plan is $12.95 per month, then Russo only needs bring in roughly 19,305 new subscribers to Sirius XM for them to cover his salary. That is just the beginning. It doesn't take into effect the additional ad revenue he will generate. If it is true what another poster said that he is expected to bring in 1 million to 2 million new subscribers, then we are talking about a monthly revenue increase of roughly $13,000,000 to $26,000,000. This again is not taking into account additional ad revenue.

So you see, it doesn't matter if the Mad Dog is a deaf-mute...he is a valuable addition to the team."

By the way, I'm not a Russo fan. I had never heard of him before he signed with Sirius.

3. "Shares reaching the 8 billion mark."

Really? Last I checked they had authorization for 4.5 billion. Oh, you mean the new 3.5 billion that they are asking for? Along with the reverse split that will go hand-in-hand with the issuance?

4. "Wireless internet increasingly available everywhere."

WOW! Another startling revelation we weren't aware of. You are on fire.
I suppose Netflix and all the cable companies should all pack it in too, since movies can now be streamed on the computer. Wireless internet will not work well in cars. The two mediums will not compete with each other, at least not in the auto market.

If you are going to keep bashing, at least support your arguments with some facts. We are still waiting for your theory on the recent filings since none of ours seem to meet your standards.

We do agree on one thing though: Sirius does seem to spend a lot of money on frivolous PR releases.]]> http://seekingalpha.com/article/100371-is-a-reverse-split-in-the-cards-for-sirius?source=feed#comment-286096 286096
Killer, everything I am saying is hypothetical; I don't know any more than the local bus driver. I am just speculating because I see no other logical explanation.

I'm Not Jim Cramer, are you a total moron or what? Give me YOUR theory then if you know so much. Have you not read my whole post? SIRI's short position has diminished and as far as naked shorting, I feel with all the scrutiny, it won't be as easy. Try to naked short with Schwab and see what they tell you. I was shorting housing and covering for the past 3 months and it's not as easy anymore, at least not with Schwab. You sound a little testy and panicky, trying to poke holes in my thoery and pointing out the company's PAST pitfalls. Have I struck a nerve there, Shorty? And what the hell does Icahn and Yahoo have to do with Icahn and SIRI? Icahn had to overcome 20% insider ownership and 63% institutional ownership at Yahoo as opposed to 4% and 13% respectively at SIRI. Why didn't Mel do this at $1.20? Maybe because of the NASDAQ delisting requirements being under $1? Who the hell knows? That's not important.

Give us your logical explanation since you seem to know it all.]]> Mon, 20 Oct 2008 06:51:41 -0400
Killer, everything I am saying is hypothetical; I don't know any more than the local bus driver. I am just speculating because I see no other logical explanation.

I'm Not Jim Cramer, are you a total moron or what? Give me YOUR theory then if you know so much. Have you not read my whole post? SIRI's short position has diminished and as far as naked shorting, I feel with all the scrutiny, it won't be as easy. Try to naked short with Schwab and see what they tell you. I was shorting housing and covering for the past 3 months and it's not as easy anymore, at least not with Schwab. You sound a little testy and panicky, trying to poke holes in my thoery and pointing out the company's PAST pitfalls. Have I struck a nerve there, Shorty? And what the hell does Icahn and Yahoo have to do with Icahn and SIRI? Icahn had to overcome 20% insider ownership and 63% institutional ownership at Yahoo as opposed to 4% and 13% respectively at SIRI. Why didn't Mel do this at $1.20? Maybe because of the NASDAQ delisting requirements being under $1? Who the hell knows? That's not important.

Give us your logical explanation since you seem to know it all.]]> http://seekingalpha.com/article/100371-is-a-reverse-split-in-the-cards-for-sirius?source=feed#comment-285939 285939
We will not be diluted back to .37. If they approve the share increase, there will be a total of 8 billion shares. The 1:20 reversal will bring that amount down to 400 million. 160 million are already spoken for (by us for example) at the new price of roughly $7.20. Now they can bring the new shares to the institutions in large chunks and at discount. No one is saying that the remaining shares will be dumped on the open market; that would be idiotic. Institutions buy for the long-haul. Why would they be interested in buying? Simple. You now have a debt-free company with a small float which will be making 2.4 billion in revenue (by today's conservative estimates). Keep in mind that this revenue number will be much higher when the auto market rebounds, the economy improves, satellite radio catches fire, and the merger synergies start to blossom. At six dollars and change this is a no-brainer for the institutions.]]> Sun, 19 Oct 2008 21:09:24 -0400
We will not be diluted back to .37. If they approve the share increase, there will be a total of 8 billion shares. The 1:20 reversal will bring that amount down to 400 million. 160 million are already spoken for (by us for example) at the new price of roughly $7.20. Now they can bring the new shares to the institutions in large chunks and at discount. No one is saying that the remaining shares will be dumped on the open market; that would be idiotic. Institutions buy for the long-haul. Why would they be interested in buying? Simple. You now have a debt-free company with a small float which will be making 2.4 billion in revenue (by today's conservative estimates). Keep in mind that this revenue number will be much higher when the auto market rebounds, the economy improves, satellite radio catches fire, and the merger synergies start to blossom. At six dollars and change this is a no-brainer for the institutions.]]> http://seekingalpha.com/article/100371-is-a-reverse-split-in-the-cards-for-sirius?source=feed#comment-285855 285855
COS, thanks for the backup but I'm far from being a genius; some of you guys are much better informed than me. I'm just trying to figure out the "why's" and came up with the most logical "because." That is the route I would take as a CEO. So let's rehash now that you supplied the numbers...but first let me reply to Cramer. Cramer, I never said that dumping millions of shares on the market was an option, as a matter of fact, I said that would be stupid at these price levels. And the new cash infusion would probably come at a slight discounted offering to institutions. The bottom line is that the "bottom line" of the company is improving every quarter from here on out. A $6 or $7 stock is much more palatable than a .36 stock you ninny! The market cap won't change. As for the manipulation...which shares are they going to manipulate? There are now less shares to short after the reverse. Even now the shares are hard to locate.

COS, I was assuming (and hoping) that the newly authorized shares would come into play AFTER the reversal. But we'll take your scenario:

We now have 8 billion shares which revert to 400 million because of the 1:20 split. Out of these 400 mill, 160 mill are already spoken for, and the remaining 240 mill is what we have to work with to raise new capital. Assuming that the shares are now trading at $7.20, that gives SIRI the potential to raise $1.728 Billion! More than enough to take care of ALL the debt!

But let's not look at the world through rosy-colored glasses. Let's look at the situation through the eyes of Dr. Doom (I'm Not Jim Cramer). After the reverse, the stock plummets from $7.20 down to $6.50. SIRI now goes to Dubai, Singapore, Goldman, JP Morgan, Buffet, Gates, Oppenheimer, Oprah, Mickey and Minnie...awh hell, pick whoever you want. They are offering the 240 million shares at a 10% discount of $5.85 which results in a windfall of $1.4 billion! Still more than enough to liquidate the debt. So the net result of my fantasy?

Instead of a penny stock with 4.5 billion potential shares and a billion in debt, we now have a debt-free company trading at marginable price levels with only 400 million shares outstanding! The market cap has not changed and when the company reports 2.5 billion in revenue with only a 400 million share float, where do you think the stock price will end up?

]]> Sun, 19 Oct 2008 18:31:01 -0400
COS, thanks for the backup but I'm far from being a genius; some of you guys are much better informed than me. I'm just trying to figure out the "why's" and came up with the most logical "because." That is the route I would take as a CEO. So let's rehash now that you supplied the numbers...but first let me reply to Cramer. Cramer, I never said that dumping millions of shares on the market was an option, as a matter of fact, I said that would be stupid at these price levels. And the new cash infusion would probably come at a slight discounted offering to institutions. The bottom line is that the "bottom line" of the company is improving every quarter from here on out. A $6 or $7 stock is much more palatable than a .36 stock you ninny! The market cap won't change. As for the manipulation...which shares are they going to manipulate? There are now less shares to short after the reverse. Even now the shares are hard to locate.

COS, I was assuming (and hoping) that the newly authorized shares would come into play AFTER the reversal. But we'll take your scenario:

We now have 8 billion shares which revert to 400 million because of the 1:20 split. Out of these 400 mill, 160 mill are already spoken for, and the remaining 240 mill is what we have to work with to raise new capital. Assuming that the shares are now trading at $7.20, that gives SIRI the potential to raise $1.728 Billion! More than enough to take care of ALL the debt!

But let's not look at the world through rosy-colored glasses. Let's look at the situation through the eyes of Dr. Doom (I'm Not Jim Cramer). After the reverse, the stock plummets from $7.20 down to $6.50. SIRI now goes to Dubai, Singapore, Goldman, JP Morgan, Buffet, Gates, Oppenheimer, Oprah, Mickey and Minnie...awh hell, pick whoever you want. They are offering the 240 million shares at a 10% discount of $5.85 which results in a windfall of $1.4 billion! Still more than enough to liquidate the debt. So the net result of my fantasy?

Instead of a penny stock with 4.5 billion potential shares and a billion in debt, we now have a debt-free company trading at marginable price levels with only 400 million shares outstanding! The market cap has not changed and when the company reports 2.5 billion in revenue with only a 400 million share float, where do you think the stock price will end up?

]]>