sl62

Why Does Loral Continue to Shoot Up?

killer...

She'll be sitting on his punk-ass lap! Quite right. Trash. Scary isn't it?

Hope your trades were good this week. Let's see what Mel and co. have to say. Next week he gets up in front of god and everybody and explains himself. I wish I could be there! This has been a bleeping tragedy on all counts..He's made it twice as tough by showing little concern for his shareholders. Hey, we're tough and can hande it, but a little nod here or there would have been appreciated. Instead, he keeps making bs comments like he just did saying subscribers shouldn't care about losing their fav channels, rather suck it up so he and his board can still have a company to run (so subs can keep enjoying the music that's now been taken away from them, apparently!). WTF is that sh%t?!

Well, no surprise from my man Mel. Have a good weekend!

Why Does Loral Continue to Shoot Up?

bababooie...

agreed but you forgot #7...

7. Have a printing press of either dollars or shares! lol

Why Does Loral Continue to Shoot Up?

bababooie...

Do you really think SIRI would be getting a loan from Loral? I never have nor ever will....

Why Does Loral Continue to Shoot Up?

bababooie...

Good point. But because Miley counts as a half (or Paris if you count half-wit and that she's kind of emaciated), they offset Oprah's two banger (and then some!). I still need all these people on the accidental space bus to enternity lol...

great idea...

Why Does Loral Continue to Shoot Up?

bababooie...

Good idea on the celebs space bus.

First 20 on the bus:

Oprah
Tom Cruise
Matt Lauer
Al Roker
Katie Courek
Richard Shelby
Ty (the obnoxious guy from that home make-over show)
All those yentas from The View (5)
Paulson
Benanke
Rod Blagoyovich
Richard Simmons
Mylie Cyrus
Gerorge Bush
Michael Jackson
Paris Hilton (sorry Paris)
Craig Ferguson (and his accent)

They take off...then something goes horribly wrong, the bus loses it's power and veers off course, pastf the gravity belt and drifts into the nothingness of time and space for eternity. Effectively, these people will then instantly stop jamming the rest of us...

Who'll Blink First: Sirius, Loral or the Banks?

cool dayworker, just want to make sure our collective info is correct...thanks for your info as well.

cos1000...

I hear ya but I'm willing to provide a little time. As you, I am bothered by the lack of mention of a salient "reality" to the company. He should have at least mentioned it (the rule change) happened. But I want to let him prove something to all. After the dilution in July, I can't believe they would be so "arsinine" as to think they are going to dilute again just 5 months later...even as their stock is down this far. As you said earlier, it just makes no sense. He said "in short order" without skipping a beat so I gotta let him prove it. Further, as I said to Relmor, if they want shareholders to approve more shares/reverse, they must get this SP up. No shareholder in their right mind will say yes to something like that while down here. ESP...Institutions and Funds. No way. If they would, they'd be a total moron. That's why I think the SP has to head higher before the meeting...because they want those tools. This will give many of us options. IMHO

Who'll Blink First: Sirius, Loral or the Banks?

Man all this market red is getting boring!

cos1000..

finally a little more decisive move today on higher volume...albeit down. Maybe this helps move closer to a significant capitulation mode...

Market-wise, we have now had a rotten September, October and now 1/2 of November. Somewhere in here soon, there has to be a turn for a sustained period. Way too much consistent downward pressure. just can't last much longer... IMHO...

Who'll Blink First: Sirius, Loral or the Banks?

dayworker...

you wrote:

>>The current Nasdaq rules from 10/17 suspend until Jan. 16 any
delisting time period starting point. Any Corp. in the delisting time
period would get 60 days after Jan. 16 and then a second 180
days after that<<

I looked on the Nasdaq document and couldn't find any 60 day change to the normal initial 30 day period of non-compliance. I could have missed it. Did this change? Otherwise, it's still the old rule of 30 days under 1.00 starts the 180 day clock.

And I did find the clarification of when SIRI's clock would start. If a company was in compliance before the temporary rule change (as SIRI was...barely), the new 30 day "below 1.00" clock starts fresh on Jan 19. So your looking at 7 months (July 19) plus appeal time (October) before any delisting would take place...


www.cchwallstreet.com/...

Who'll Blink First: Sirius, Loral or the Banks?

Now having said all of that, as how a reverse pertains to saving a company from being delisted (which as I have said before, if you are a company that needs saving from being delisted, you are not a healthy company period...and according to Q3 and management's own words, SIRI is not an unhealthy company!), to be fair, there is also the other side of a reverse and when it is sometimes used...

There is a possibility that xyz company CAN organically get above 1.0 but winds up having a hard time getting maybe over 2.00 or 3.00. And, AS A HEALTHY GROWING COMPANY, they opt to reverse to get their stock maybe up to $20 or $30 (as in say a 1:10)...to make thte stock more attractive to some institutions who won't buy anything under a certain price (and to lower outstanding share count). Now, there is still a risk of being shorted back down, but if company metrics are positive, more often than not the price will thrive and continue to climb at the new levels. This is reversing under healthy conditions.

So in fairness to SIRI, they could be thinking along these lines...as the Proxy item of reverse holds an expiration of Dec 09. This way, a special vote does not have to be taken. But my take is, it's going to take them a few Q's anyway to become more solid and continue to prove themselves as a combined company. If everything goes as planned according to their own projections, they could easily be in great shape a year from now and request the same vote for reverse at that 09 annual meeting next December. Until then, there's definitely plenty of hard work to be done and projections to meet. Concentrate on that execution and the SP will follow no problem. IMHO...

Who'll Blink First: Sirius, Loral or the Banks?

Sorry I wrote:

>>Most companies (if they can't elevate over 1.00 for 10 consecutive days as is the rule for reinstatement) then file for an appeal upon reaching their 180 day grace.<<

I didn't mean "reinstatement" as no delisting has occured yet during this time period. I meant (1.00 for 10 consecutive days as the rule for compliance)

Basically, without voting yes for reverse split, no SIRI delisting would occur until approximately mid August/early September....(and that's only of course IF the price between now and then stays under 1.00. Which as said, is WAAAY unrealistic based on company projections of cash flow, Q growth, etc...

Who'll Blink First: Sirius, Loral or the Banks?

holdon...

Proxy vote and NAS extension have NOTHING to do with one another. As it stands now, as of Jan. 16, 2009, clocks will restart where they left off on Oct 16 (the day the rule change took effect) for those already in default. Where SIRI is concerned, the last day they closed @ 1.00 was Sept. 19. So technically their 30 days trading below 1.00 would have been Oct 19--in which case they would gave received a notice and been given 180 days to comply. The only thing I'm unsure about is if a new SIRI 30 day clock starts on Jan 16 or id they then have their remaining 3 days on the old clock before receiving a notice...

So in either condition (assuming they are still below 1.00 by Jan 16), at worst their 6 month clock would start on Jan. 19 (3 remaining days of old clock) or at best, Feb 16 (30 days on totally new clock. So you are either looking at June 19 to get the price up over 1.00 or July 16. THEN...

Most companies (if they can't elevate over 1.00 for 10 consecutive days as is the rule for reinstatement) then file for an appeal upon reaching their 180 day grace. The appeal request will automatically stay the delisting until the NAS Panel reaches a decision. NAS will typically hold a hearing to consider an appeal within 45 days after the appeal is made, and it may take up to 30 days after the hearing to make a decision.

SO....WORST CASE SCENARIO...SIRI would not be delisted until:

June 19 + 45days + 30days = Sept 4, 2009.

BEST CASE SCENARIO...Siri would not be delisted until:

July 16 + 45days + 30 days = Oct 4, 2009.

It's important that all shareholders realize this timetable. Further, based on Q3 CC, and current company numbers projections by management, no one in their right mind could fathom them not making it back to 1.00 by those dates--ORGANICALLY. Just impossble.

Who'll Blink First: Sirius, Loral or the Banks?

Guess what the name of the hijacked oil tanker is?

Sirius Star Oil Tanker

...SIRI is just a magnate for bad news!! lol

Who'll Blink First: Sirius, Loral or the Banks?

dayworker...

Management has the next 4 weeks to prove their true intentions. Certain things are acceptable and certain things are not (as you point out). Based on their own comments on the Q call, I am giving them the benefit to do what is acceptable....IMHO.

Who'll Blink First: Sirius, Loral or the Banks?

It is what it is, but I think this is the most productive comminique I've read from them...I'd like to see all of this happen. It would do management well in light of SP and current market environment, to take reduced salaries, bonuses, etc... then to acknowledge new NAS Delisting timeframe and that they are willing to raise SP back up organically into next year (which with a few key LEGIT moves, would not be that hard).

With Feb converts out of the way, and with management commitment to raising SP organically based on believed positive company guidance/performance. As we have said...why not? If you say your company/model is healthy amd firing properly on metrics (which they did prove in Q), why not base controversial decisions on that and stand on it? I have to say the one thing that bothered me on the call at the end was that Mel didn't acknowledge that Delisting rule change as positive for the company (or even that the company was affected by it either way). Instead he just said he expects shareholders to vote for extra shares and reverse. IMHO, he/they need neither at this stage. My vote will most likely be no to both. Not based on emotion but on other real options available to the company that are much more positive for all shareholders (and the company itself). I expect this company to honestly work themselves (and us) out of the current SP situation in the same way they worked themselves (and us) into it. The SP tanked organically and so it should be revived organically...not by the wave of a magic wand (funny money) and then say "Oh look! we now have no debt! Now you see it, now you don't!" That's no way to be going. Hard work and honest performance is. IMHO, show people you're honest and a hard worker, and they will support you, believe in you, AND REWARD you 100%....


LOS ANGELES, Nov. 17 /PRNewswire/ -- The following is being issued by "SaveSirius.org":


SaveSirius is a group of concerned shareholders that is accusing SIRIUS XM management of unjustly enriching themselves at shareholders' expense. A derivative suit has been filed in the United States District Court by SaveSirius founder, Michael Hartleib.


SaveSirius members have served formal letters of demand on the SIRIUS XM Board of Directors. Their demands are:


-- To postpone the vote that is seeking shareholder approval to further dilute the common stock by increasing the number of shares in the fully diluted float from 4.5 billion to 8 billion.


-- To postpone the proposed reverse split, ranging from 1 for 10 to 1 for 50.


-- In light of the abysmal stock performance and dire financial situation, that all stock compensation plans and other bonuses be suspended immediately, and not be reinstated until the return to these compensation plans would be commensurate with the concept of "performance based compensation".


"Given the NASDAQ's reprieve of delisting securities below a dollar, there is sufficient time for the Board to convene an emergency meeting to consider other options, such as but not limited to, self-funding by shareholders," said Michael Hartleib on behalf of SaveSirius and its members.


They also demand the Board meet with interested parties to address alternatives that would be more in line with shareholders' interests.


"If the board continues with the scheduled vote, we will believe that to be a violation of their fiduciary duties and will have no choice but to seek injunctive relief," said Michael Hartleib on behalf of SaveSirius and its members.


"The Board has also been notified that the proxy being distributed to SIRIUS XM shareholders is deficient as there is no mention of pending litigation in Federal District Court charging management with racketeering, fraud and breach of fiduciary duties; or the appeal before the D.C. Circuit seeking review and remand of the FCC's merger decision in part due to the failure to hold management responsible for violation of the interoperability mandate and allowing such management to continue in office to the detriment of shareholders and satellite radio consumers," said Michael Hartleib on behalf of SaveSirius and its members.


The demand letters were sent certified and have been confirmed delivered. SaveSirus members await the Company's response.


SOURCE SaveSirius.org

Who'll Blink First: Sirius, Loral or the Banks?

Killer...

Appreciate your comments...I just iggy all the noise...hope all is well in your neck!