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International Paper Q4 2008 Earnings Call Transcript

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

The proposed additional share approval and reverse split will not change SIRI's problems. The company needs capital,and it wants to use those factors to wheel and deal with potential sources who will seek to gain access to what appear to be extremely valuable assets belonging to existing shareholders. It is unfair to us to offer dilutive deals to outsiders without first allowing the huge pool of present shareholders and even subscribers to participate in any such undertakings on the same basis. The Company's reluctance to do that raises suspicions.

Sirius Satellite Radio Inc. Q3 2008 Earnings Call Transcript

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Which Banks Are Left to Help with Sirius's Financing Needs?

I believe that some sort of rights offerng to shareholders and or subscribers would allow SIRI to solve its present financing needs and bypass the current credit market turmoil. Why isn't there more discussion of this as a possible solution?

Getting Cash into Sirius XM's Coffers

Watching the price of SIRI stock fall gives me the sinking feeling that management may again end up going to the vulture/predator financial community for funding instead of allowing its own shareholder/subscriber... to participate in any of the many ways described above. I am afraid that such vulture/predators will demand paper with a high percentage return that is also convertible into stock at a ridiculously low and dilutive price. Management could then vote themselves huge bonuses as a reward for saving the company. Considering these dilutive effects and the underlying value of the unique assets owned by SIRI, I think that management has an almost fiduciary obligation to first seek financial assistance from its own large community of shareholder/subscriber... before taking any such action.

Getting Cash into Sirius XM's Coffers

All great ideas. Why not a "rights" offering of something like a convertible, subordinated preferred issue to existing shareholders and/or subscribers. We know the company, and I believe that many of us would volunteer to make such an investment and protect our interests.

How Will Sirius XM Refinance Its Debt Now?

I would also add to my comment concerning a possible offering of securities to existing SIRI shareholders, that the offering could allotted on the basis of number of shares held, and that all unsubscribed securities then be offered to SIRI-XM users

How Will Sirius XM Refinance Its Debt Now?

I would like to see SIRI attempt to gather needed additional capital directly from its present shareholder base, perhaps through a preferred stock or convertible debenture offering.. Why should we not be given a chance to participate in the high rates that are sure to be paid to others in such a risky situation. It would also reduce certain dilution of our holdings.

Has the FCC Gone Communist?

It would only be fair to also require that high-definition over-the-air radio signal receivers be equipped to receive satellite signals.