Hartleib

Sirius XM Goes to Hollywood

THE WIZARD starring Jeff Bridges as Mel Karmazin

It seems as though some people or should we say cheerleaders on other Sites think that Mel is some kind of “Hero” for giving away forty percent of our company to “Save Sirius” from bankruptcy.


They refer to Mel as a wizard a genius and praise him relentlessly. According to them Mel is worthy of some kind of award.


I actually agree that Mel should receive an award and I will be contacting Guinness to find out what the requirements are to nominate Mel as the “Worlds Worst CEO” for facilitating the fastest diminution in shareholder value in history. After all it was just a matter of months after the merger was consummated that Mel was able to make 98% of our companies’ value disappear. I guess one could argue that he is a Wizard of sorts or a Magician as I don’t think David Copperfield or David Blaine could make thirteen billion dollars disappear as fast.


I would suggest a reality check for the folks singing Mel’s praises as it was Mel that put us on the brink of bankruptcy. No one held a gun to Mel’s head when he said he would love to take Sirius private, no one held a gun to Mel’s head to force him to accept the toxic financing, no one held a gun to Mel’s head and prevented him from marketing interoperable radios thereby putting Xm out of business and making the merger moot and last but not least no one held a gun to Mel’s head to force him to give away 40% of our company for free because he was “ unaware of 600 million dollars of Xm’s debt. ( Well maybe Leon or Malone but I digress.)


The most amazing part of this story, some say movie material is that Mr. Mel Karmazin still has his job now that is magic. Maybe that is what the movie on Sirius Xm should be called THE WIZARD starring Jeff Bridges as Mel Karmazin.


I hope for all shareholders as well as myself that this company prospers and can avoid bankruptcy, but the facts are Mr. Karmazin just gave away 40% of our company to refinance not pay off about a third of our debt that leaves two thirds, with us owning only 60% of our company, you do the math. I pray to God we have a significantly higher share price or we can kiss what little of our original investments we have goodbye.


I would suggest the cheerleaders remove the stars from their eyes and put down the funny cigarettes and face the facts that Mel and this Board have failed miserably. If and that is a big if. In fact that is an “Apple if” this stock does go up to say .30 cents or even a dollar some who bought at these low levels will be rewarded but those that were in at much higher levels like myself will never be made whole. At least not without forthcoming litigation that is.

Sirius XM Goes to Hollywood

Mel Just Gave Away Nearly Half Of Our Company For Free!



Way to go Mel you cut a great deal! “Not”
Let’s see we owe just as much at a greatly higher interest rate and we lost nearly half of our company. And if that was not bad enough we threw in 13 million dollars and at least two and up to six board seats for good measure.


All shareholders need to wake up and force Mr. Karmazin and this management team out and fast. This is the first half of our company being stolen from us the second half will be gone soon after the reverse split.


Hey! I have a great idea why dont we help Mel refinance his 15 million dollar Penthouse in Trump Tower?


The deal would go something like this…. Mr. Karmazin, I here you are looking for a loan? Boy do we have a “great deal for you”, we will loan you 15 million dollars at 15% you pay us 1.5 million dollars in fees and the best part of this loan, other than the fees and the outrageous interest rate is that when we complete the loan, you Mr. Karmazin will only own 60% of what you owned before this loan.


Such a deal we owe just as much, actually a lot more when you figure in the interest and the fees. Mr. Karmazin the “self dealing” CEO and his Board of co-conspirators’ keep their jobs and Mr. Malone with Mel’s help robs the bank (i.e. the shareholders.)


Wait as I forgot several very important details. You see Mr. Karmazin’s Penthouse was worth 150 million before he and his accomplices’ trashed it and wrote down the true value in “good will” charges. I guess they call it good will for a reason: good for (Mel, Malone and Leon) as we just made a loan on an asset that was trashed and nearly destroyed, written down 90% and now we get 40% ownership at ten cents on the dollar for lending money.


As if this is not brilliant enough I just realized we can get a tax credit for the 90% of value that was trashed and written down by Mel and his buddies.


Wait I need to stop for a moment so that I can pinch myself as this deal is just too good to be true. Ok you get the point. So is anyone interested in helping Mel out with his

Refinancing needs? Mel, Leon and Mr. Malone must be a lot closer than people realize?

If anyone thinks this was all a matter of circumstance I have a Bridge for sale in Brooklyn. PLEASE!

Sirius XM Slapped with Downgrade from Moody's

We are in big trouble with Mel Karmazin at the helm. It is time for Mel to step aside. The sooner the better as he has failed as Sirius CEO. He is driving us to BK in the fast lane!

Ousting Sirius CEO Karmazin Is a Crazy Idea

Brandon with all due respect you need to put down the Pompoms !

Sirius XM Releases 5-Year Guidance: Aggressive or Conservative?

[e-mail] or call 714-927-5898



>
> Under-Promise and Over-Deliver has been the track record.
>
> Funny from five dollars to twenty cents!

Sirius XM Releases 5-Year Guidance: Aggressive or Conservative?

Under-Promise and Over-Deliver has been the track record.

Funny from five dollars to twenty cents!

Sirius XM Radio Faces Shareholder Suit

Dominic, I and over six hundred others intend to expose the truth in order to help the shareholders protect their interest! Give me a call anytime at 714-927-5898 would love to speak with you.

Sirius XM Radio Faces Shareholder Suit

SIRIUS Shareholders File Suit Against SIRIUS XM Radio Management



LOS ANGELES, Nov. 3 /PRNewswire/ -- The following is being issued by
"Save Sirius":

A group of incensed shareholders, over 500 strong and growing, have
banned together and accused SIRIUS XM management of unjustly enriching
themselves at the expense of shareholders.

A derivative suit on behalf of shareholders has been filed in the
United States District Court, Central District of California, Southern
Division. Case number SACV08-00790CJC

The case accuses management of violations of the FEDERAL RACKETEER
INFLUENCED AND CORRUPT ORGANIZATIONS ACT (RICO), BREACH OF THE FIDUCIARY
DUTY AND THE SHERMAN ACT.

This suit seeks to prevent management from further damaging its
shareholders with massive amounts of additional dilution (8 billion shares
in the fully diluted float) and as much as a 1 for 50 reverse stock split.

"We are working to gain control of our company by seeking to remove
current members of the board as well as top executive Mel Karmazin," said
Michael Hartleib on behalf of Save Sirius and its members. In a September
15th 2008 Wall Street Journal article written by Sarah McBride, she states,
"Given Sirius XM's low stock price, Mr. Karmazin said he would love to take
the company private. But given the state of the credit markets, 'How do you
find [the money] today?' If the company were generating positive cash flow,
which he expects it to do for the full year in 2009, privatization would
become much more feasible, he says."

It is clear that management under Mr. Karmazin's leadership has an
agenda to steal this company from its shareholders.

Given Management's history of:

-- Locking their shareholders into the longest merger delay in history;
-- Preventing the Corporation from seeking alternatives or potential
suitors;
-- Failing to commercially introduce interoperable radios;
-- Their insistence on going forward with the merger at any and all costs;
-- Consummating the merger issuing 300 million shares to the financiers of
XM's debt to be sold short on the open market

Mr. Karmazin and the board have severely damaged shareholder value in
violation of their fiduciary duties. Shareholders have lost over 90% of
their value under Mr. Karmazin's leadership.

"In light of the aforementioned, it is clear that they have lost sight
of their obligations to shareholders and have breached and will continue to
breach their fiduciary duties in the future. We, as a group, will not stand
for this and will use any means possible to prevent and preclude them from
stealing this company from its rightful owners -- we the shareholders,"
said Michael Hartleib, on behalf of Save Sirius and its members.


Contact:
Michael Hartleib
[phone]
[e-mail]

The 'Real' Story Behind the XM/Sirius Merger

MICHAEL HARTLEIB
P.O. Box 7078
Laguna Niguel, CA 92607


March 17, 2008 SENT VIA UPS and E-mail

Attn: William M. Regan Attn: Jeffrey P. Fink
Simpson, Thacher & Bartlett, LLP Robins, Umeda & Fink, LLP
425 Lexington Avenue 610 West Ash Street, Ste. 1800
New York, NY 10017 San Diego, CA 92101


RE: Greg Brockwell et al v Sirius Satellite Radio, Inc. et al
Index No: 600819/07

Dear Mr. Regan and Mr. Fink:

As a member of the Class who will be filing an objection to the proposed settlement, and as per my telephone conversation with Mr. Fink on this day, this letter is respectfully submitted as a formal request for:

 Transcript of the deposition of Mel Karmazin
 All documents provided to plaintiff’s counsel regarding Morgan Stanley’s financial analysis of the merger. All interrogatories, questions and answers. Agreements between Morgan Stanley and Sirius Satellite Radio. All documents provided to plaintiff’s counsel regarding the additional fees of up to $7.5 million and documents and/or internal memos detailing the parameters and/or reasoning to determine whether or not to pay these proposed additional fees.

I am advised by Mr. Fink that the aforementioned information is under a confidentiality agreement and/or a protective order between the parties at the request of defendants and their counsel. This information is material to my filing of the Opposition to the Proposed Settlement and is warranted to a member of the Class, as my interests (as well as the rest of the Class) are not being represented in a satisfactory manner. Other members of the Class will be joining me in the Opposition of the Proposed Settlement and/or opting out of this Class. One has to wonder why plaintiff’s counsel would allow defendants and their counsel to obfuscate this case and shroud it in a cloak of secrecy when the plaintiff’s counsel is supposed to be providing clarity and complete disclosure of all material facts to the Class and its members.









Page 2
March 17, 2008



In speaking with Ms. Schmachtenburg today, she informed me the preliminary hearing is scheduled for March 31, 2008. I advised her I would be filing an opposition to the proposed settlement on my behalf and on behalf of all others similarly situated. I also informed her I was having difficulty obtaining the necessary discovery from counsel and that I would be seeking the Court’s assistance.

Please provide me with the requested information as soon as possible as time is of the essence.


Sincerely,



Michael Hartleib

MH/th

Encl


Cc: Honorable Richard B Lowe III
c/o Miss Schmachtenburg