burnout

Is Sirius's Dilution Actually Dilutive to Shareholders?

"We paid Liberty Media Corporation a structuring fee of $30 million in connection with the Sirius Credit Agreement."
I get that this money is gone.

"Pursuant to the Investment Agreement, we agreed to issue to the Purchaser 12,500,000 shares of convertible preferred stock with a liquidation preference of $0.001 per share in partial consideration for the loan investments described herein."

If the deal is voided... "If, prior to December 31, 2009, we elect to terminate the Investment Agreement (as defined below), the lenders under the Sirius Credit Agreement may require prompt repayment at 105% of face amount."... I do not see where they get to keep the shares.

" After April 15, 2009, we may terminate the Investment Agreement if our Board of Directors determines it is in our best interests to do so. In either of those events, we will pay the Purchaser a termination fee of $7 million."
If the investment agreement is terminated why would they keep the shares?
At least that is the way I read it, but I have been wrong before...married twice.

Clarifying Sirius Ambiguities over Liberty Shares

"We paid Liberty Media Corporation a structuring fee of $30 million in connection with the Sirius Credit Agreement."

I get that, this money is gone.

"Pursuant to the Investment Agreement, we agreed to issue to the Purchaser 12,500,000 shares of convertible preferred stock with a liquidation preference of $0.001 per share in partial consideration for the loan investments described herein."

If the deal is voided... "If, prior to December 31, 2009, we elect to terminate the Investment Agreement (as defined below), the lenders under the Sirius Credit Agreement may require prompt repayment at 105% of face amount."... I do not see where they get to keep the shares.

" After April 15, 2009, we may terminate the Investment Agreement if our Board of Directors determines it is in our best interests to do so. In either of those events, we will pay the Purchaser a termination fee of $7 million."

If the investment agreement is terminated why would they keep the shares?
At least that is the way I read it, but I have been wrong before...married twice.

Sirius Trouble Ahead

Could this article be related to the other SA article posted today
"Sirius Lessons in Stock Manipulation, Part II"?

Auto Sales Continue to Spell Trouble for Satellite Radio

In addition to my above comment when at home if I am going to listen to music I have what I want at my disposal and my favorite ball culb on TV or the radio. That is no the case in my car so SiriusXM is about my only choice for the content I want.

Auto Sales Continue to Spell Trouble for Satellite Radio

Most music is listened to at home? When I am home I am either busy in the kitchen or my workshop. When I have time to relax I watch a movie or TV. On the other hand my radio is on every second I am in the car and not so I am a captive audience for advertising. I think this is the norm for most people.

Sirius XM: Working on Debt, But Not Out of the Woods

I too appreciate the knowledgeable posts from many of those here who seem to have cool enough heads to see the forest through the trees. I've been in for 2 years now and in recent weeks got my average on 120k down to .58. I was ready to bail at .12 the other day had it not been for the good sense of those here that explained how BK was unlikely. Since my ECL has been whacked from 1.3 mil to 750k (though I'm sure it will come back in the next 2 years) in the last 4 months, selling SIRI out at .12 then seeing it double or triple next week would have really hurt. I don't think we are out of the woods yet, but it sure makes you feel good when you see the institutions doubling up on the stock in the last two days.
I'm hoping we see $1.00 in the next year.
Go Cubs

Sirius XM: Working on Debt, But Not Out of the Woods

I can. 13 years at ECL and every dime I made is invested in the company. Good thing my wife has a great job at UTX.
Long SIRI, Long ECL

Could It Be a Happy New Year for Chrysler?

Dave your Landcruser might get 30 down hill with a tailwind.
Last time I checked it did not come from Europe either.
I am talking about full size cars. Not a VW diesel that weighs 2200 pounds and holds 3 people uncomfortably.
Let's compare apples to apples shall we.
Besides, my point was about people like you that don't buy Detroit's better offerings. Just keep sending your money and our jobs overseas and I'll meet you in the bread line.

I also made comment a year ago asking the question..."Why can you only get a CNG vehicle on the west coast". I know there are very few places to get the fuel in the other regions of the country but anyone with NG in there home can put their own fuel station there for a few thousand dollars and the payback is not very long in coming. The range exceeds the proposed plugins, so unless you are traveling cross country that is not an issue. It could be a good bridge to new technology.
I'm sure it would make Dave happy too since as it stands today the only CNG cars you can buy are foreign. Detroit has really dropped the ball in this respect.

Could It Be a Happy New Year for Chrysler?

Since the 80's GM has made a fuel efficient large cars. The Buick LaSabre (followed by the LaCross and Lucerne) and Chevy Impala got 30+ MPG and had good crash and quality ratings. Yet Americans choose to buy from foreign manufactures.
Let's not put all the blame on Detroit.
Also devich, is it not better to make just $1.00 a day, continue to pay your workers and suppliers, than to lose $10,000,000 a day?
Let's get going in the right direction, support Detroit IF they follow through with promised changes, and let the stockholders worry about big profits a couple of years from now.

Bank on Yield - Cramer's Mad Money (10/17/08)

ashizashiz,
Got 67 (or however many it might be) virgins waiting for you?

Is Oil a Bubble? Part One

Since anyone that has a natural gas line could install a LNG unit at their home for a couple of G's and use that cheaper alternative, why is it cars with that technology are only available for purchase on the west coast? In time like these every little bit we do to conserve can help while we wait for the distibution system to catch up to newer technology. I understand natural gas too is a fuel that will some day be used up but until then it helps to take the pressure off oil dependence.

Is Oil a Bubble? Part One

Sophisse: there is a better fuel in the works and it is just a few years away not 20 years. Hydrogen fuel cells. UTX, GE and many others have working models on buses now.