Sirius Roadkill

Is Sirius Worth Anything? Goldman Says 25 Cents

PLEASE DO NOT READ! PRIVATE & CONFIDENTIAL . . .

(private note to Mel's screeners: Forget the termination clause Mel; ain't gonna happen on our watch. You will be reassigned to the mail-room before shareholders will permit that. Thanks for the mandarin-chinese reference; good to know you are getting the messages . . . now, a little less "knocking-on-wood" and a little more taking care of business)

What's Behind Sirius' Big Gain?

A HARTLEIB LETTER TO KARMAZIN . . . AS YET UNANSWERED . . . GET TO WORK MEL . . . DO YOUR JOB OR GET OUT!

IF YOU ARE NOT UP TO THE JOB YOURSELF, I ASSURE YOU IT WILL BE DONE FOR YOU


May 8, 2007

Mel Karmazin
Sirius Satellite Radio, Inc.
1221 Avenue of the Americas
36th Floor
New York, NY 10020

Dear Mr. Karmazin:

As a long time shareholder of, and an advocate for Sirius Satellite Radio, I would like to start by saying I believe in the Company, its model, the potential of the sector, and your leadership.

After nearly eighteen months of research and with great consideration for the chain of command, I now find it necessary to direct my concerns to you and respectfully ask for your involvement. That being said, my desire is not to do anything that would jeopardize the prospects of the merger and/or the Company in general.

I have obtained information through the Freedom of Information Act issued by the S.E.C. and other sources, that strongly suggests manipulation in Sirius shares and violations of Federal Securities Law. In speaking with Investor Relations, I have been told it is not the Company’s responsibility to monitor the trading of the Company shares but instead, is the responsibility of the regulators. I disagree and believe the Company has a fiduciary responsibility to protect the interest of its shareholders. I cite the pending Overstock.com, Inc. et al v Morgan Stanley & Co, Incorporated et al litigation filed on behalf of Overstock and its shareholders (Superior Court of the State of California – Case #CGC-07-460147). I believe this case sets a precedent for companies such as Overstock to protect their shareholders and preserve the integrity of their shares. Overstock and its shareholders have seen nearly a forty percent increase in share price since the Complaint was filed.



Page 2
Mel Karmazin
May 8, 2007



After the alignment of XM and Sirius enterprise values and the announcement of the merger agreement, I expected the companies would trade on their merits and the constant borage of factually incorrect and/or misleading commentary would end.

With the stock at these levels, I am fearful of an unsolicited bid or private equity acquiring the Company for a nominal premium at the shareholders’ expense.

I have had conversations with Wesley Christian, the lead counsel for the Overstock suit, and other counsel who are interested in filing a similar suit on behalf of Sirius shareholders against the financial institutions that facilitated these illicit trades. Before proceeding, I am requesting a face-to-face meeting with you to ensure that the shareholders’ interest and the Company’s interest are aligned.

Very truly yours,



Michael Hartleib


MH/th


HMMM . . . DOES THIS SOUND LIKE THE RAMBLINGS OF A "NUT" "CRAZY UNCLE" "NUT BALL" ETC. ETC.?

Is Sirius Worth Anything? Goldman Says 25 Cents

A HARTLEIB LETTER TO KARMAZIN . . . AS YET UNANSWERED . . . GET TO WORK MEL . . . DO YOUR JOB OR GET OUT!

IF YOU ARE NOT UP TO THE JOB YOURSELF, I ASSURE YOU IT WILL BE DONE FOR YOU


May 8, 2007

Mel Karmazin
Sirius Satellite Radio, Inc.
1221 Avenue of the Americas
36th Floor
New York, NY 10020

Dear Mr. Karmazin:

As a long time shareholder of, and an advocate for Sirius Satellite Radio, I would like to start by saying I believe in the Company, its model, the potential of the sector, and your leadership.

After nearly eighteen months of research and with great consideration for the chain of command, I now find it necessary to direct my concerns to you and respectfully ask for your involvement. That being said, my desire is not to do anything that would jeopardize the prospects of the merger and/or the Company in general.

I have obtained information through the Freedom of Information Act issued by the S.E.C. and other sources, that strongly suggests manipulation in Sirius shares and violations of Federal Securities Law. In speaking with Investor Relations, I have been told it is not the Company’s responsibility to monitor the trading of the Company shares but instead, is the responsibility of the regulators. I disagree and believe the Company has a fiduciary responsibility to protect the interest of its shareholders. I cite the pending Overstock.com, Inc. et al v Morgan Stanley & Co, Incorporated et al litigation filed on behalf of Overstock and its shareholders (Superior Court of the State of California – Case #CGC-07-460147). I believe this case sets a precedent for companies such as Overstock to protect their shareholders and preserve the integrity of their shares. Overstock and its shareholders have seen nearly a forty percent increase in share price since the Complaint was filed.



Page 2
Mel Karmazin
May 8, 2007



After the alignment of XM and Sirius enterprise values and the announcement of the merger agreement, I expected the companies would trade on their merits and the constant borage of factually incorrect and/or misleading commentary would end.

With the stock at these levels, I am fearful of an unsolicited bid or private equity acquiring the Company for a nominal premium at the shareholders’ expense.

I have had conversations with Wesley Christian, the lead counsel for the Overstock suit, and other counsel who are interested in filing a similar suit on behalf of Sirius shareholders against the financial institutions that facilitated these illicit trades. Before proceeding, I am requesting a face-to-face meeting with you to ensure that the shareholders’ interest and the Company’s interest are aligned.

Very truly yours,



Michael Hartleib


MH/th

What's Behind Sirius' Big Gain?

reference of course to Mark Wienkes . . . not the Mark who posts here

What's Behind Sirius' Big Gain?

GET READY GOLDMAN . . . START GEARING UP THE LAWYERS . . . YOU MAY BE TOO BIG TO FAIL BUT YOU ARE NOT TOO BIG TO BE SWEPT-UP IN THE NET OF IMPROPRIETY . . . YOU MAY BE NEXT . . DID LLOYD B WRITE THOSE NOTES FOR YOU MARK? WE ARE WATCHING VERY-VERY CLOSELY

SHAREHOLDERS UNITE . . . KEEP DRILLING . . . THE FUN IS JUST STARTING . . .

FOLLOWING IS A MEMO FROM THE DESK OF MICHAEL HARTLEIB:

Strictly a coincidence or have we narrowed down where all the illicit (?) trades are coming from? I and others have been doing some research and it appears as though many of the shorts on Sirius have been routed through a company formally known as Morizio Associates LLC, also known as ISEG, now reregistered with the DTCC clearing Corp. as ISEROUTE. On Thursday October 23rd I made a phone call to them and let them know that there is a group investigating all of the Sirius short sales, many of which appear to be naked, and were being placed through ISEROUTE, their company.

The gentleman I spoke with wanted to know who I was. I told him that was unimportant. I told him that Racketeering charges were going to be filed against several companies for facilitating these illicit trades. He seemed quite uncomfortable and did not want to answer many questions and suggested I talk to their compliance officer which happens to be in Los Angeles Ca. Phone Number 213- 250- 1406. I left 2 messages to please contact me. He did attempt to reach me on Friday but I was on another call and didn’t answer. I returned his call and he didn’t answer so I left a voicemail and gave more details about my concerns as to all of the short sales on Sirius being routed through their company. Within 30 min I received an incoming call from phone no.312- 902- 5438. The gentleman calling let me know that he was calling me about my concerns with ISEROUTE. I informed him that there is an investigation on going that shows on level two that millions upon millions of Sirius shares shorted are being routed thru them.

I suggested that many of these shorts were illegal and the racketeering charges would be brought forth against several companies and that ISE may be included. I explained that it has been known for quite some time that off shore hedge funds have stolen millions of dollars from Sirius share holders by nakedly shorting Sirius stock. I informed him that this was in violation of regulation SHO which require shares shorted be borrowed from actual shares owned in brokerage accounts. His response was that they were a routing company. A pipe line to route and facilitate trades. It wasn’t their responsibility but the broker placing the trades, to insure that the trades are in compliance with regulation SHO. I informed him that this was unacceptable and amounts to nothing more than their clients robbing a bank and that they being the driver of the get away car. It wasn’t until the end of this call that he informed me that he was an attorney from the law firm of Katten Muchin and he was calling on behalf of his client ISEROUTE. So, the compliance officer never spoke with me and immediately contacted a law firm in Chicago.

Share prices up on Friday in a down market and share prices up today. Is it just a coincidence?
Phone [phone]
I suggest that every party in our group contact ISE and let them know that we will be holding them responsible for all of the illegal short sales and that they are just as responsible as the off shore hedge funds in a conspiracy to defraud shareholders and steal billions of dollars.

The ISE Stock Exchange is a part of the International Securities Exchange (ISE), a family of innovative securities markets. ISE/Eurex Announcement
December 20, 2007: Eurex and ISE complete merger
• Combination expands Eurex’s global liquidity network into the U.S. and U.S. Dollar products
• Complementary customer base and product offerings provide cross-selling and innovative product development opportunities
• Integration approach leverages strengths of both organizations while maintaining respective uniqueness to address specific market needs
The combined group is the leading transatlantic operator of derivatives marketplaces with powerful distribution capabilities in two of the world's most important capital markets. On a combined basis, Eurex and ISE will be the market leader in individual equity and equity index derivatives worldwide. Its wide range of both U. S. Dollar and Euro denominated products is unique in the market: the combination is home to the Euro zone interest rate and equity index benchmark derivatives products and offers options on all major U.S. and European companies. Currently, ISE and Eurex distribute their products to approximately 560 direct exchange members
Business address ISEROUTE is 194 Nassau Street Princeton NJ 08542 Phone [phone]

Is Sirius Worth Anything? Goldman Says 25 Cents

GET READY GOLDMAN . . . START GEARING UP THE LAWYERS . . . YOU MAY BE TOO BIG TO FAIL BUT YOU ARE NOT TOO BIG TO BE SWEPT-UP IN THE NET OF IMPROPRIETY . . . YOU MAY BE NEXT . . DID LLOYD B WRITE THOSE NOTES FOR YOU MARK? WE ARE WATCHING VERY-VERY CLOSELY

SHAREHOLDERS UNITE . . . KEEP DRILLING . . . THE FUN IS JUST STARTING . . .

FOLLOWING IS A MEMO FROM THE DESK OF MICHAEL HARTLEIB:

Strictly a coincidence or have we narrowed down where all the illicit (?) trades are coming from? I and others have been doing some research and it appears as though many of the shorts on Sirius have been routed through a company formally known as Morizio Associates LLC, also known as ISEG, now reregistered with the DTCC clearing Corp. as ISEROUTE. On Thursday October 23rd I made a phone call to them and let them know that there is a group investigating all of the Sirius short sales, many of which appear to be naked, and were being placed through ISEROUTE, their company.

The gentleman I spoke with wanted to know who I was. I told him that was unimportant. I told him that Racketeering charges were going to be filed against several companies for facilitating these illicit trades. He seemed quite uncomfortable and did not want to answer many questions and suggested I talk to their compliance officer which happens to be in Los Angeles Ca. Phone Number 213- 250- 1406. I left 2 messages to please contact me. He did attempt to reach me on Friday but I was on another call and didn’t answer. I returned his call and he didn’t answer so I left a voicemail and gave more details about my concerns as to all of the short sales on Sirius being routed through their company. Within 30 min I received an incoming call from phone no.312- 902- 5438. The gentleman calling let me know that he was calling me about my concerns with ISEROUTE. I informed him that there is an investigation on going that shows on level two that millions upon millions of Sirius shares shorted are being routed thru them.

I suggested that many of these shorts were illegal and the racketeering charges would be brought forth against several companies and that ISE may be included. I explained that it has been known for quite some time that off shore hedge funds have stolen millions of dollars from Sirius share holders by nakedly shorting Sirius stock. I informed him that this was in violation of regulation SHO which require shares shorted be borrowed from actual shares owned in brokerage accounts. His response was that they were a routing company. A pipe line to route and facilitate trades. It wasn’t their responsibility but the broker placing the trades, to insure that the trades are in compliance with regulation SHO. I informed him that this was unacceptable and amounts to nothing more than their clients robbing a bank and that they being the driver of the get away car. It wasn’t until the end of this call that he informed me that he was an attorney from the law firm of Katten Muchin and he was calling on behalf of his client ISEROUTE. So, the compliance officer never spoke with me and immediately contacted a law firm in Chicago.

Share prices up on Friday in a down market and share prices up today. Is it just a coincidence?
Phone [phone]
I suggest that every party in our group contact ISE and let them know that we will be holding them responsible for all of the illegal short sales and that they are just as responsible as the off shore hedge funds in a conspiracy to defraud shareholders and steal billions of dollars.

The ISE Stock Exchange is a part of the International Securities Exchange (ISE), a family of innovative securities markets. ISE/Eurex Announcement
December 20, 2007: Eurex and ISE complete merger
• Combination expands Eurex’s global liquidity network into the U.S. and U.S. Dollar products
• Complementary customer base and product offerings provide cross-selling and innovative product development opportunities
• Integration approach leverages strengths of both organizations while maintaining respective uniqueness to address specific market needs
The combined group is the leading transatlantic operator of derivatives marketplaces with powerful distribution capabilities in two of the world's most important capital markets. On a combined basis, Eurex and ISE will be the market leader in individual equity and equity index derivatives worldwide. Its wide range of both U. S. Dollar and Euro denominated products is unique in the market: the combination is home to the Euro zone interest rate and equity index benchmark derivatives products and offers options on all major U.S. and European companies. Currently, ISE and Eurex distribute their products to approximately 560 direct exchange members
Business address ISEROUTE is 194 Nassau Street Princeton NJ 08542 Phone [phone]

Karmazin Video Provides Some Sirius Answers

answer: a lowly, relatively unknown, government patent clerk by the name of Albert Einstein . . . just prior to publishing a paper in February 1917 entitled "Cosmological Considerations in the General Theory of Relativity"

You've probably heard of it . . it turned the long-held principles of Newtonian physics on its head.

Einstein confessed that there were far more brilliant scholars and academics in his time . . . and his mastery of non-euclidian geometry left quite a bit to be desired, partly due to his having been expelled from high school for challenging the authority of the instructors.

Einstein attributes his success in the break-through, where others had failed, to a natural suspicion of authority and an unwaivering willingness to challenge long-established scientific dogma, even that of Newton.

Most gave high acclaim to the break-through . . . there was, however, a small but vocal minority who were unwilling to consider the findings because the thesis was "not directly observable"

Turns out that most of those detractors had a vested interest in preserving their own academic credentials and publication rights which had just been rendered obsolete.

Karmazin Video Provides Some Sirius Answers

Who do you suppose the following quotation is attributable to:

"I am curious to hear what you will have to say about the somewhat crazy idea I am considering now. It exposes me to the danger of being confined to a madhouse"

Karmazin Video Provides Some Sirius Answers

Tony Soprano once said . . . "yeah, I guess you could say I'm kinda like a captain of industry"

Karmazin Video Provides Some Sirius Answers

After watching the Autoline (who??) infomercial, I am struck by Mel's gaunt & tired appearance . . . this is what pressure will do folks. Keep pounding. As I have stated several articles earlier . . . it is possible for shareholders to exert change if they are willing to apply non-stop, crushing, unbearable pressure; Mel can be worn down to a little nub and this interview is physical evidence of what that pressure can do. Don't let up on the accelerator!

Older guys like Mel LOVE the fight . . . Mel's countenance is not looking too good right now but he has one goal in mind . . . stagger across the finish line on December 18th with the reverse split and dilution in-hand . . . then it's off to Auba for 3 weeks to recharge the batteries.

He will be back fully charged, looking tan & fit . . . it is imperative to keep tightening the screws now while Mel is on the ropes. Do not let up.

Autoline???

Did I actually see the CEO of the second largest media subscription business in the country "knocking on wood"? Ooo-Fah . . . even in a tightly scripted setting Mel couldn't avoid the mis-step.

Mel . . if the problem is with Leon, lets get it aired out now; otherwise the pounding will continue . . . there are more than enough shareholders that have the stomach for the fight.

In calling us "unsophisticated" did you mean for investing in the company or for placing our confidence in you ability to execute the business plan?

Karmazin Video Provides Some Sirius Answers

I used to know a pretty charatible guy once . . . his name was Robert J. Brennan . . . he ran a little company called First Jersey Securities . . . when the SEC figured out the game, hel closed up First Jersey Securities . . . then he opened another little company, under a different liscensee, and called its Hibbert Brown.

Bob Brennan was a pretty charitable guy in his day . . . gave millions to Seton Hall University and others . . .

If ya don't believe me ya can write to Bob Brennan . . . he is serving out his sentence at the Fort Dix military prison

Finally Some Good News for Sirius Shareholders

sl62 . . . BINGO . . . and now a new proxy with the same old lack of any detail which would permit shareholders to cast an informed vote about the reverse split and equity issuance . . . funny how that percentage of institutional ownership snuck up on us when we were'nt watching, huh?

relmor . . . BINGO . . . but, Mel has a "perverted-incentive" clause. I would rather keep him on the payroll for now and keep him in a very tight box . . . keep your friends close and . . .

mark . . . no harm-no foul; all so far are publicly recorded documents

Finally Some Good News for Sirius Shareholders

koop . . . thanks for keeping an open mind. That is all I have ever truly advocated here . . .

Finally Some Good News for Sirius Shareholders

I thank the gentlemen cos1000 for his follow-up question . . .

Hmmm . . . why should someone prefer to get the answer to a question pertaining to MICHAEL HARTLEIB, second-hand, when the inquiry can be made directly to MICHAEL HARTLEIB, at no expense, thus allowing the questioner to form an independent, objective, and unbiased opinion after speaking to him?

Some have disparagingly referred to MICHAEL HARTLEIB as a "nut" or "crazy uncle" or "scorned investor" or "whiner" or even much-much worse . . . even Mel's own comments about MICHAEL HARTLEIB are not suitable for reprinting here.

Wouldn't it be best for those with questions or concerns about MICHAEL HARTLEIB'S true motives to confront him directly?

[e-mail]

Rather than relying on the second-hand representations of an alleged spokesman, would it not be better to go straight to the source, thus not having to concern oneself with the perceived taint of an alleged MICHAEL HARTLEIB spokesman?

That's precisely what I have done in reaching out to Mel Karmazin to ask him to unseal his deposition in the "BROCKWELL" case.

Rather than asking those in this forum who "seem to be a spokesman" for Mel Karmazin, I have tried to contact Mel directly on several occasions but I have to be totally honest here . . . I have not received the courtesy of a reply. Once I have that reply in-hand, I will report back to this forum based on my first-hand impressions.

But as I have stated before folks, do not be distracted from Mel Karmazin's inability or unwillingness to execute the business plan. MICHAEL HARTLEIB is not responsible for the ineffective leadership that has caused the current share price to be where it is; we have all fallen prey to the spin before:

It's the FCC's fault
It's the Dems on the FCC's fault
It's the NAB's fault
It's Mark Wienkes fault
It's Goldman Sach's fault
It's Jim Cramer's fault
It's the naked shorts fault
It's the hedge funds fault

What do all of these excuses have in common? Mel Karmazin! The Emperor has no clothes . . .

In taking over XMSR (yup, we can discuss the "merger" spin at a later date) Mel Karmazin bought the biggest, most expensive, house in a bad neighborhood . . . used exotic, subprime, financing to secure the funding and is now no longer able to make the mortgage payments . . . no back-up plan, no contingencies, no opportunistic restructuring of the deal . . . in fact, even extending the deal as late as May 2008 without having secured a bona fide committment for a responsible loan.

It all simply defies credulity on its face.

There is enough red meat in Mel's own actions; the Janco analyst made a point of reporting to that effect . . .

October 22, 2008 (12:42 am) Tyler Savery
Janco and Merrill Lynch both came out with reports on Sirius XM Radio today. From Janco’s perspective, analyst April Horace is downgrading the equity to market perform with her price target under review. Merrill’s Jessica Reif Cohen is maintaining her $1.00 price target with an underperform rating.

JANCO

Horace noted in her report that she was surprised by Sirius XM’s move to do the $30,000,000 in debt financing prior to the announcement of the third quarter numbers. She noted, “…we were of the understanding that SIRI was going to wait to disclose third quarter results as well as possibly fourth quarter subscriber additions before they actually went to the debt markets. We thought if the results showed progress, it maybe a more opportunistic time to raise the debt. We have to admit that SIRI’s recent moves have surprised us, especially before the third quarter earnings release, and not necessarily consistent with previous statements.”

Horace also noted that the possibility of dilution and a reverse stock split Also “Sends Alarms” to shareholders but also believes, “a reverse split makes sense”, however she also concedes that historically, reverse splits have caused overall declines in value.

In closing the report Horace stated, “We believe in the long-term satellite radio sector. We are unfortunately downgrading SIRI to a Market Perform due to the significant uncertainties in the market place and concerns about management’s inconsistent actions. At present we are still reviewing subscriber forecasts, potential dilution, and cost of debt and, therefore, are suspending any price targets.”

Finally Some Good News for Sirius Shareholders

isn't there a credit line tap available for the sat launch

can't see BK as company already has sufficient cash flow for existing debt service, right?

I don't think they've ever missed a payment. With Feb gone & May extended Dec could get done with some cash-in and more favorable terms, no?

eh, who knows . . . that's the problem with no guidance or transparency