cos1000

Sirius Investors Face Difficult Decisions: It All Boils Down to Faith

Faith does not have a place hear in running a business.... Trust and respect for a company's management and business plan, and their ability to execute that plan may be more appropriate. Why, at this point, would Sirius Xm's management need a RS authorization. Delisting? Not now, or until Sept 2009 at the earliest, per current Nasdaq rule suspension should this even be considered. Without Mel explaining why he still needs the RS, why have Blind Faith in granting that authority? I am voting NO on the reverse split even after originally thinking that it was OK. Mel's avoidance of explaining why he needs it now, and simply brushing it off at the end of CC, has me not having Faith, Trust, or Respect for his intentions at this time.

I will vote yes to the Share Dilution. Given the current credit markets and the stock price at .14 cents, I don't want to handicap their ability to use shares to secure debt. I don't want them to use shares for debt, but I don't want them to be given an excuse to seek BK protection wiping all common shares out.

I don't see any reason this company should go into bankruptcy unless it cannot refinance its debt. Share availability at these prices does make the current level of authorized shares inadequate to provide security against the debt. This company had authorization for 4.5B shares with a stock price of $3.00. Why would any shareholder be afraid of dilution when the stock price is now at .14 cents and there is less than 1 B shares left for debt security. Is it because 8 B shares is going to make the stock price go to .07 cents? Who really believes that? I feel that the dilution is already in the stock price, but the authorization has not yet been given for the company to move forward and secure their debt. Then it is up to the company's management to earn my Respect, Trust, and Faith the old fashion way. Execute on the business plan and work your arsses off or be gone.