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Can someone more familiar with the process help me out on this one? Ryan @ Orbitcast commented that the fact that it was in circulation meant that a decision could come in "as little as three weeks". Is there a mandatory three week period in which the commissioners must review the proposal before they vote? Or could they vote at any time?
And then once the first vote has been placed the remaining commissioners have ten days to provide their votes?
So the public will get no indication that votes have occurred (ie. some filing that Chairman Martin has submitted his recommendation June XX), only once the entire process has run its course and they announce the result of the vote?
Very good questions, if anyone could explain this further it would be greatly appreciated.Quote:
Originally Posted by zcurzan
While the above posted link is helpful it raises in me these same questions being asked by zcurzan.
TIA
Typically, the commissioners aides will "leak" their vote to the press...
We need to hear Tate and McDowells votes...probably this week in my opinion...
I know we just got official news on it being in circulation on Friday, but doesn't this seem agonizingly slow? I keep checking the news and blogs hoping for the next big thing. :annoyed:
'Nothing' I might add, the target price has been dropped so much, I believe its a ploy to not allow any profit for shareholders on this merger. When the merger goes through, the price will spike back up to about only $3.30, which means for most people, you break even. Well the NAB and op'posers' of the merger may have lost the war, but won a few battles.
At this point, I am totally happy with breaking even and breaking out of this hideous stock.
-J
one week, 2 weeks, 3 weeks, hell its all the same with me now, exxon-mobile merger was approved within a month, and how many days are we still counting on the XM-sirius, uhh.. 450+ days
FCC Martin, whether he approves of this merger or not, should be fired for allowing this to drag out so ridiculously long.
I want to start a new petition, for the FCC chiefs head to roll, he's a lazy bought out politician.
-J
I don't think Exxon/Mobile though had to go through the FCC though.Quote:
Originally Posted by JasonLantz
But I hear ya.
And the DOJ took about a month on theirs and 395 days for XM-sirius
Nevertheless, this waiting is bullshit. How hard is it to say yea or nay
after 1 1/2 years of review.
But but but... They have to listen to every scam artist & bullshit artist out there first! I mean, they have rights to you know. :rolleyes:Quote:
Originally Posted by JasonLantz
I share the frustration, I have a sizable position in SIRI (considering I'm just 21).
Even though I'm down, I was going to buy a car with the money I've put in SIRI, which loses value with absolutely no potential to go back up.
So, I'm still ahead, I just wish this nightmare would end and all of the freeloaders, scam artists, bullshit artists can go screw themselves.
I'm with all of you, I'm 60 and I've never seen this much bullshit even regarding this merger, I even purchased more. Payday isn't very far off anymore, whether its yea or nay we'll still make out. As of now with 80,000 shares total of Siri and 3000 of XMSR.
I also agree with one of the replies here that said Martin should be canned for his ridiculous display of management at the FCC.
I read an interesting theory somewhere a while back that Martin may be the guy looking out for us, and doesn't want to go ahead until he knows he has something locked down. It's hard to say. Sure he's the figure head and it's been delayed 450 days, but what if he doesn't want to move forward until he knows he has negotiated something that all parties can agree on (at least to get a majority vote)
I give up on the merger. In my opinion there will be no real pop. For starters, the merger has taken so long that everyone, and I mean everyone who wants to own the stock, already does. I think it's the total lack of buyers now that have caused the drop. Any bad news and the shorts jump on it, with no opposition to the upside. The ARB players don't have to cover, because the converted shares do that for them. The merger will bring in more buyers finally, if approved but I think the effects will be short lived...
I'm one of the few I think who actually believe in the product and the long term growth prospects.
Of the thousands who jumped into the stock because they saw "satellite radio" and "merger" in the same headline over a year ago... how many do you think actually have stuck around? I mean I still see people talking about a pop, or asking how far it is going to go when approved, but I feel like the majority of this kind of holder got shaken out, especially with the Goldman downgrade. Someone with the mentality for chasing a short term "easy money" pop, is the same kind of person who would get spooked when they are 30% under water in a matter of a few days/weeks.
Agreed. Personally with the current price of these stocks I'm not expecting much of a pop at all. However it's hard to rationalize that the price of the merged companies will stay <$3 for long IF they are currently working on hitting the pavement running right after the merger announcement.Quote:
Originally Posted by zcurzan
IF they aggressively play the PR game, quickly announce they have secured financing without outrageous terms etc. we may see a slow but consistent increase into the holidays.
I'm a firm believer of Tyler's "perfect storm" theory, that's what's needed to get these things turned around. Frankly I think it's possible, I don't think these companies are just sitting around waiting for an approval to then come up with a post merger plan.
Other than this recent GS BS analysis there is nothing (short of someone inside the FCC leaking negative info about an unfavorable vote) that can justify this recent spanking. That whole "slowing economy" theory doesn't hold much water with me either because for every negative thing that might happen because of it, one could argue that positive things could also come out because of it.
So folks buck up, we might have a few more bad days ahead but with the measly concessions that these companies have agreed to, it's hard to rationalize that their post merger stock price is going to be less than it was before the merger was announced.
It is apparently very hard to oppose the NAB, or this deal would be done. The NAB has Congress up the FCC's wazoo and they're scared...
The question is the radio lobby still powerful enough in this day and age to prevent the merger all together, or just to make a compelling delay in the process?
I think an outright bow to the whims of the NAB would cause too much bad publicity at this point. The merger has been in the news for over a year now, and if a denial was issued, the question raised would be, if it was such a clear denial what took this long to make a decision.
IMO its going to be passed, and if they wish to ruin the deal, it will be through the restrictions imposed, not through a denial.