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Will Murdoch Make a Move on Sirius?

relmor...

no worries about me. I'm as legit as you...my theory on .05 is only if they surprise some morning like fannie, freddie, leh, bear and announce bkprotection. IF that happens, this stock will open that morning somewhere around .05. My problem was with I no longer put that action past Mel and I can't let him do that to me. He has brcome rogue and I think he's now capable of anything and everthing. It just depends how backed in a corner he feels IMO...

p.s. JMO, but I would wait until or if they show stablizing at this low before buying more. Make them prove it. Otherwise there will be time to hop in if there is a kick...though i no longer expect it in any significant way. Look at the timeframe and issues. I also said yesterday, who would buy in here for a long-term knowing the massive dilution and reverse is on the table. Mel killed all interim interest by announcing that. In a way he did us a favor though to keep us from averaging down. Plus, their earnings is in a few weeks, there won't be any moves before then I don't think...just thoughts...

Will Murdoch Make a Move on Sirius?

Sirius Roadkill....

Check out this link for accessing forum articles/staying in touch. This is what I use. I don't think this is related to the SiriusBuzz forum...I could be wrong...


seekingalpha.com/symbo...

Will Murdoch Make a Move on Sirius?

Come on Guys Lets get Sirius!...

Something else to consider. That former bondholder can also now immediately take those shares to market and cash out rather than wait and hope they increase in value.The problem now as I see it, is the bomb that Mel and Co dropped via the Proxy. He announced that further dilution to the common shares is imminent to the tune of the 3.5B increase. If I were a bondholder who just traded real debt for shares, I most likely would rather have the current cash value of those shares rather than waiting to be diluted. Again, that is what I feel has changed this whole game. Who in their right mind wants to become a long-term investor in a company facing such dilution and a reverse split. That is uncertainty and big money investors abhore uncertainty and avoid it like the plague. So that's why i feel Mel has taken all the wind out of the sails of this stock. IMO, no matter how much debt gets paid off via stock at this point, most potential meaningful investors have been driven away until this mess of the Proxy is cleared up. Until then my fear is the only thing capable of moving the stock higher is short covering. My take is, had Mel not released the Proxy, this convertible transaction could have moved the stock up .10 or more already in after hours. As if there weren't enough on this company, Mels Proxy filing is like an anchor. JMO....

Will Murdoch Make a Move on Sirius?

shure46...

Thanks for your comments. Ditto. Always appreciate your opinion also.

Today was a tough decision to pull that trigger. As you say, I just was seeing more downside days before it may do its cover pop (if that materializes). I was also becoming increasingly bothered by the tighter and tighter daily range, meaning less movement no matter what the news except how easy it still is to keep drifting down .02 - .03 a day. To me this shows a stanglehold and disconnect again from the company and the overall market. But really, today was more about realizing that Mel will now do anything and everything to save his company regardless of the shareholder. But as you say, it's each persons decision about how to play the next few weeks/months and no one is or should be pressuring anyone else about what to do.

Will Murdoch Make a Move on Sirius?

Sirius Roadkill....

You've made some very worthwhile comments today...I agree, at this stage it is all about sharing information, both positive and negative, to assist in painting an accurate picture for all to see. Though I have now protected my catastrophic downside risk, I still want to try to help see this thing through and assist via constructive opinion and viewpoint. As said earlier, I am just as apt to jump back in here if I feel that risk subsides. I think we all know that Wall Street is not a game to be taken lightly, esp as we have seen in recent years. Plenty of fraud, perp walks and jail time in the mix. So I'm just still trying to make sense of this very complex situation as everyone is.

For instance...what do you make of the most recent NBA news posted this eve...that some older SIRI receivers can now not get NBA games because the NBA stream was "quietly" switched to XM. It apparently is the companies tactic to get more people to buy best of both but some older SIRI hardware is incapable of receiving best of both so those people now need to go buy all new hardware. Naturally, those subs are not happy. Supposedly, according to the article a certain percentage of earlier equipped vehicles can also not receive the best of both due to their outdated chip sets. Once again, it is being called out that a certain CEO promised this would not happen and is being taken to task by several groups. It's all this "ethics/ honesty-related" news that bothers me the most...the questions needing solving IMO are, are these just more media bashing SIRI articles or are they related to shady tactics and lies.

Will Murdoch Make a Move on Sirius?

Sirius Roadkill...

Not sure what you mean. I access these posts directly through Seeking Alpha, who will not be going away anytime soon. Or, SA articles about SIRI (Tyler and Brandon's) are linked in places like yahoo finance (SIRI page) or others...Believe it, SIRI is SA's dream company for providing all the clicks...we should be ok...

Will Murdoch Make a Move on Sirius?

shure46...

We're on the same page. I'm concerned about his last post...

Also, just because I have kept up with after hours practically every day since $1.00, SIRI usually goes up .02 every after hours... not to be a bummer but that's reality. Just mentioning.

cos1000...

Out of respect to your concerns, and now of mine, I'm digging a little further regarding our new poster....(as is shure46)

Will Murdoch Make a Move on Sirius?

Srius_Employee...

Appreciate your opinions but this last post of yours causes me concern. Way too much grandstanding and judging for someone posting here 6 times. "I told you so's" don't make it around here. You've been called out as a phony by others here... I would appreciate you responding directly to my earlier post (below). Leave the I told you so's and details about your shorting career out for now and just respond to who you are for the record. If you are masquerading as someone else...waaaaay uncool. This last post of yours went nowhere. Please try again and make us believe in you. Thank you.

>>So, Srius_Employee... people here are right to think you might be one of Mel's cronies (or other). I do not. But for others, and not that there will be any difinitive through this forum, but are you willing to go on this record saying you're being honest about your statements and position as a SIRI employeee?

Not that anyone here is looking for insider information (which is illegal and a felony), but that you have just come to this Seeking Alpha forum as a concerned person about the questionable conduct of Sirius XM and it's officers esp. CEO Mel Karmazen, to offer your opinion? Which possibly could help another investor here that has lost significant portions of their investment...and to commiserate with other SIRI shareholders who feel they have been lied to and taken to the cleaners by said Mel Karmazen and his company Sirius XM?<<

Will Murdoch Make a Move on Sirius?

Sirius Roadkill...

All very intelligent discourse. Thanks for that.

cos1000...

I'm surprised to see you so acerbic today. I thought it was clear to most here that the game had changed. The spotlight is on mismanagement now, not detractors. Mismanagement has become an unfortunate reality and should be viewed as such. For you to call people out to examine their reasons for being here at this point are off base IMO. As I have said for myself, I invested in a company that does what they say, not does something different than what they say. It is unaccpetable for me to support liers. As it has proven, that will not only not fill my pockets, it will take everything out of them--which has been proven. You seem to be forgiving Mel and are asking for him to give you an explaination and everything will be alright. I am not at all telling others here to dump shares or not. But as a thinking person, I have constructively expressed my DEEP concerns for what I perceive to be the new downside risk. People can still think for themselves that this stock is going back to $1. It might--and I have no problem if it does. But if the stock does wind up at .05 one morning after a BK announcement, I have protected myself from losing many more thousands between now and then, and also having to look at myself in the miriror and ask what I was thinking in the face of so much evidence. I'm not saying it will or won't happen that way, I'm just managing my risk at this point. Don't forget, Mel now has 20K of my money. Do you think I'm happy about that?

Further, though I was a fractional owner of this company, they are not my life's work or commitment. AKA, not an entity I would risk my own life for. I still believe SatRad is a great product. But that also doesn't necessarily mean that great product is being managed correctly. I now believe it's not, that's all. Trying to ouster this managment will take time, effort and more money. Money to travel to NYC, money to secure legal representation and the many hours needed to implement. Look at the amount of hours/extra cash Michael Hartleib said he put in (maybe you don't believe him either, I don't know). Sadly, putting in massive hours to ouster this team is prohibitive for me as I have other responsibilities going on day to day. Nor do I have further unlimited resources to be throwing at SIRI. I'm not Carl Ichan nor have his time and wealth to lobby this company for change as he did Yahoo. I wish I did. I would do it. I would love nothing better than to see Mel Karmazin removed frm this company. You talk about tainting. As you say, the PRODUCT is good. The company/management sadly is not. Mel K has tainted this company big time. Just look a the stock price on his watch cos. 2004 until now. It's clear now that the reason it didn't hold it's height @ $9 when he came in, is because he has spent recklessly, overpaid for talent and forgot that the company should be kept more lean. Catching him in these most recent lies makes me believe he's been lying all along. He's been "selling" the street without delivering. It's fine to become profitable by end of next year but at what cost? He's done the Producers trick, sell 160% of a 100% show. My guess is he also did this ill-advised merger (because he couldn't REALLY pay for it) to have even any chance of being cash positive next year. Without that, SIRI by itself probably had no chance of achieving that and it would have been game over for Mel. I can't be sure there but, a guess. If I notice harder now, I notice how hard he's been emphasizng that EBITDA positive next year--over and over. But with all this debt, nobody will listen. Besides him being totally mad, that's the only reason he still went ahead with this merger, knowing full well the company (SIRI) could not afford to do it. And per the Proxy, he is telling the world he's going to ask the shareholders to fund this company from here on in until they start actually earning positive cash...or he is going to have to do it via a BK. Those are his ONLY TWO OPTIONS cos. Either way, SIRI will still be into positive cash end of next year with little or no debt--with the same great product. The only question now is how it will happen. Sadly in the short term, for shareholders it's a lose-lose either way it goes. He has backed shareholders into this present day reality. In Mels world, shareholders don't become profitable for 2 or 3 years from now. He expects shareholders to go into negative cash flow so the company can go into positive cash flow. Then...eventually shareholders can get back into positve cash. He's asking shareholders to take one for the team, while he contnues to be paid 1 point something Mil per year with 4M in bonuses. If shareholders find this unacceptable, he wll have no choice but file for protection. This is what I fear. Let's say shareholders spend all kinds of money to go there and prevent the Proxy authorization and no additional shares are ratified. This will piss Mel off to the moon. Shareholders attending that meeting might go out for drinks and celebrate in NYC that night (12/18, a Thursday), but they will awaken the very next morning to a filing for BK protection from Mel. I guarantee you this has a very high probability of going down this way. How else will he fund this company into next year? This is where the leader of Sirius Xm Radio has taken the company...like it or not.

I think you know cos, who the "detractors" are in this forum. There is nothing wrong with "intelligent" contrarian thinking when appropriate. No one is making demands that anyone in particular sell shares or buy more for that matter. What is being discussed now is important for anyone to hear both sides constructively. I haven't switched sides, I'm just now an independent an djust providing a POV. When this stock was @ .90, .80, .70, even .60 & .50, the lack of communication from management just meant no news is probably good news. Now new facts have hit the table and no news = serious trouble. What the company has presented shareholders with has heightend risks 10 fold IMO. They've been caught lying. They have said publicly they think their investors are unsophisticated. Of course they are gong to pull this crap. They think they are invincible, which is why I don't now put then sliding into a comfortable BK past them even before the meeting. Certainly if the 8B shares are voted down he will be left only to BK. Am I wrong about any of this cos, or am I just dreaming all of this?

Will Murdoch Make a Move on Sirius?

cos1000...

No worries. And SiriEmployee or whoever he is, is nothing new or relevant on their own. I put out a challenge of truth to that individual. Obviously, if they disappear, that confirms that. Most of those facts were also reported by other sources. Just a small piece of a larger puzzle anyway. Many other clean facts out there. Not about being gullible dude. My fear here is that no one is seeing or acknowledging that Mel has lied to you--among other things, the main thing is not being able to get bank financing. That is one of the big reasons I rode this stock down here. He said it, and he lied about it. Had he said that on Cramer's show like he should have, actually said he could only pay down debt by using stock...NOW WAY would I even be here. That's not spec, that's insane. I would have been out @ 1.50, taken a small loss and moved on--and then watched the carnage from the sidelines like NotVerySmart2. Let's keep the focus where it belongs on cheating Mel not SiriEmployee or whoever you think it is...with all due respect.

Will Murdoch Make a Move on Sirius?

Srius_Employee...

IMHO...in a world of what have you done for me, rather than what will you tell me you will do in the future, if those Q3 sub numbers are a miss...the street will crucify this stock by 50%. Another reason I dumped today (before your post).

Will Murdoch Make a Move on Sirius?

Today''s filing just shows they are going to pay for everything with paper stock. Funny money...

Need to pay for something? Just issue more shares! Get that printing press rolling.

Will Murdoch Make a Move on Sirius?

Srius_Employee...

Thanks for your opinion.

So, Srius_Employee... people here are right to think you might be one of Mel's cronies (or other). I do not. But for others, and not that there will be any difinitive through this forum, but are you willing to go on this record saying you're being honest about your statements and position as a SIRI employeee?

Not that anyone here is looking for insider information (which is illegal and a felony), but that you have just come to this Seeking Alpha forum as a concerned person about the questionable conduct of Sirius XM and it's officers esp. CEO Mel Karmazen, to offer your opinion? Which possibly could help another investor here that has lost significant portions of their investment...and to commiserate with other SIRI shareholders who feel they have been lied to and taken to the cleaners by said Mel Karmazen and his company Sirius XM?

Will Murdoch Make a Move on Sirius?

I'm Not Jim...

Like that song "This is How We Do It." You're not surpised are you?

Will Murdoch Make a Move on Sirius?

chizzle...

Yes, in class action there is always a time period restriction. My guess it this one will be from when Mel first attempted the merger until either the release of the Proxy, the shareholder meeting or depending on how bad it gets, whenever prudent in the future. You just have to have proof of ownership between that period. But I think the merger will prove the catalyst event leading up to this decline. Who knows. If you look at Mels track record with this stock it could go back further. He has really killed this stock since he joined the company in '04. Now we can see he's had a master plan all along to do so (I can at least).

As far as stocks...be slow and methodical and go for a little here and a little there where thimgs are beaten-up (plenty out there) and before you know it you'll be close to that 400%. Sucks to be us, we got played here by a master manipulator and salesman Mel Karmazen. We thought his ruthless aggression was working for us. Unfortunately we see now it's been working against us big time. We've been officially thrown under the bus. IMHO...