Also known as the Demian Stock Update thread.... ;)
Lets keep UP the UPTICKS.
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Also known as the Demian Stock Update thread.... ;)
Lets keep UP the UPTICKS.
This is not to be construed as investment advice but we are getting ready to cycle down again. 5-7 cents.
Just my opinion.
3-2-1 buzzzzzzzzzzzzzz.. Shoot and a miss..
Apex -
What does your analysis tell you we are heading up to?
Thanks
Anyone hear when the conferance call is this week?? I would have expected a heads up by the company by now???
Good example of RS's...
Sun Microsystems shares dropped close to 8 percent Thursday, closing at $5.21. The company now has a stock-market value of $3.9 billion and has close to $3.5 billion in cash, said thecchief executive Jonathan Schwartz in an interview Thursday after the market closed.
Last November, Sun engineered a one-for-four reverse split that bolstered its stock price from about $5.14 to more than $20 a share.
SiriusHope - You nailed that one.
Here are my thoughts on the action this week:
Sirius will come out and announce their conference call on Tuesday (the 4th), and that the conference call will be held Tuesday the 11th. I believe NASDAQ states that they have to have the CC by the 14th, or second full week of November, but I am not positive on this.
Stock will initially pop upon the announcment, maybe 5-8 cents, and then drop for the rest of the week. It will be sitting around 27-30 Friday at the close, hitting my buy order for 2000 shares at 0.30.
Any other guesses how the week will go? I know that means the stock goes down for the week, but I think people are expecting a bad conference call.
From Consumer reports...
October 31, 2008
Satellite radio: More interesting, more complicated
The merger of XM and Sirius satellite radio has started to bear fruit.
Subscribers to each service can now add a select group of channels from the other (called Best of Sirius and Best of XM) for about $4 more per month, which brings the total monthly cost to $16.99. While the selections are limited to a handful of channels that may not suit everyone's taste, Sirius XM Radio says that more new packages are on the way, although it's not yet clear how many of those will graft channels from one service onto the other.
For XM subscribers, the Best of Sirius package available now adds two full-time Howard Stern channels, NASCAR races and shows, NFL games, Martha Stewart Living, and Playboy. For Sirius, subscribers, the Best of XM adds Oprah and Friends, NBA games, the Virus (which includes Opie and Anthony), and NHL games, the PGA Tour, College Sports, and XM Public Radio.
Both services now also offer various packages of their own, such as "mostly music," "news sports and talk," for $9.99 per month. Sirius offers an a la carte package, starting at $6.99 per month, which lets you choose 50 channels (this requires a la carte-capable receiver, such as the Starmate 5 radio and vehicle kit, $130.)
Even with these new offerings, there is still no radio on the market capable of receiving both services in their entirety and there probably won't be anytime soon. As a condition of receiving approval for their merger last summer, XM and Sirius agreed to make it possible to produce such an interoperable radio by next summer.
For now, if you're looking for a satellite radio receiver, you'll be limited to models that access just one service, with the option to add a few channels from the other service for a few dollars more per month. Be sure to check out our Guide to Mobile Electronics for more on audio, video, and GPS systems for your car.
—Jeff Fox
For complete Ratings and recommendations on appliances, cars & trucks, electronic gear, and much more, subscribe today and have access to all of ConsumerReports.org.
SiriusHope,
Thanks for posting that article. Do you have a link to the original source? Try to post links along with articles if at all possible...
http://www.radioink.com/HeadlineEntr...&pt=todaysnews
Shareholders' Group Sues Sirius XM
LOS ANGELES -- November 3, 2008: A group of shareholders calling itself "Save Sirius" has filed suit against Sirius XM Radio in U.S. District Court in Los Angeles, accusing Sirius XM management of violating the federal Racketeering-Influenced and Corrupt Organizations act, breach of fiduciary duty, and violation of the Sherman Act.
The group, which claims more than 500 members, is asking the court to stop Sirius XM from issuing more stock or from implementing an up to one-for-50 reverse stock split. In an SEC filing earlier this month, Sirius XM said it would be seeking shareholders' approval for a stock split of between one-for-10 and one-for-50, as well as permission to issue more stock.
Save Sirius spokesman Michael Hartlieb said, "We are working to gain control of our company by seeking to remove current members of the board as well as top executive Mel Karmazin."
The group quotes a September 15 Wall Street Journal article in which Sarah McBride wrote that Sirius XM CEO Karmazin "said he would love to take the company private," and that doing that would "become much more feasible" if Sirius XM were to generate positive cash flow in 2009.
The Save Sirius Group said, "It is clear that management under Mr. Karmazin's leadership has an agenda to steal this company from its shareholders."
Save Sirius complains about Sirius XM's "history of locking their shareholders into the longest merger delay in history," as well as its "preventing the corporation from seeking alternatives or potential suitors" and its failure to commercially introduce interoperable radios while it insisted on "going forward with the merger at any and all costs." It also cites the issuance of 300 million shares "to the financiers of XM's debt to be sold short on the open market" as evidence of Karmazin and the Sirius XM board's doing severe" damage" to shareholder value in violation of their fiduciary duties.
Hartlieb said, "In light of the aforementioned, it is clear that they have lost sight of their obligations to shareholders and have breached and will continue to breach their fiduciary duties in the future. We, as a group, will not stand for this and will use any means possible to prevent and preclude them from stealing this company from its rightful owners -- we the shareholders."
Radio Ink has contacted Sirius XM Radio for comment.
http://www.247wallst.com/2008/11/shareholders-fi.html
November 03, 2008
Shareholders Fighting SIRIUS XM To The Core (SIRI)
If you are one of the hundreds of thousands of investors following penny stocks and low-priced stocks such as SIRIUS XM Radio Inc. (NASDAQ: SIRI), then you will be among the many who are not all surprised that shareholders are going back after this company again. Over 500 shareholders have banded together and are going after SIRIUS XM's management.
According to the press release, the group is using Racketeering laws under the RICO Act, breach of fiduciary duties, and the Sherman Act.
The goal is to oust management and to prevent further dilution and possible reverse stock split. It may also prevent Mel Karmazin from being able to take the company private as some reports and speculators have discussed.
Based upon the horrible share price performance and based upon the questions over whether or not it will be able to keep its stock exchange listing, it is really difficult to think that a large shareholder group that has banded together won't be able to be ignored by the company or by the media to force at least some of the changes.
Jon C. Ogg
November 3, 2008
Below is a copy of the full release which was sent directly to us from the "Save SIRIUS" source.
SIRIUS Shareholders File Suit Against SIRIUS XM Radio Management
LOS ANGELES, Nov. 3 /PRNewswire/ -- The following is being issued by
"Save Sirius":
A group of incensed shareholders, over 500 strong and growing, have
banned together and accused SIRIUS XM management of unjustly enriching
themselves at the expense of shareholders.
A derivative suit on behalf of shareholders has been filed in the
United States District Court, Central District of California, Southern
Division. Case number SACV08-00790CJC
The case accuses management of violations of the FEDERAL RACKETEER
INFLUENCED AND CORRUPT ORGANIZATIONS ACT (RICO), BREACH OF THE FIDUCIARY
DUTY AND THE SHERMAN ACT.
This suit seeks to prevent management from further damaging its
shareholders with massive amounts of additional dilution (8 billion shares
in the fully diluted float) and as much as a 1 for 50 reverse stock split.
"We are working to gain control of our company by seeking to remove
current members of the board as well as top executive Mel Karmazin," said
Michael Hartleib on behalf of Save Sirius and its members. In a September
15th 2008 Wall Street Journal article written by Sarah McBride, she states,
"Given Sirius XM's low stock price, Mr. Karmazin said he would love to take
the company private. But given the state of the credit markets, 'How do you
find [the money] today?' If the company were generating positive cash flow,
which he expects it to do for the full year in 2009, privatization would
become much more feasible, he says."
It is clear that management under Mr. Karmazin's leadership has an
agenda to steal this company from its shareholders.
Given Management's history of:
-- Locking their shareholders into the longest merger delay in history;
-- Preventing the Corporation from seeking alternatives or potential
suitors;
-- Failing to commercially introduce interoperable radios;
-- Their insistence on going forward with the merger at any and all costs;
-- Consummating the merger issuing 300 million shares to the financiers of
XM's debt to be sold short on the open market
Mr. Karmazin and the board have severely damaged shareholder value in
violation of their fiduciary duties. Shareholders have lost over 90% of
their value under Mr. Karmazin's leadership.
"In light of the aforementioned, it is clear that they have lost sight
of their obligations to shareholders and have breached and will continue to
breach their fiduciary duties in the future. We, as a group, will not stand
for this and will use any means possible to prevent and preclude them from
stealing this company from its rightful owners -- we the shareholders,"
said Michael Hartleib, on behalf of Save Sirius and its members.
Contact:
Michael Hartleib
(949) 795-0580
savesirius@gmail.com
http://biz.yahoo.com/ap/081102/candi...ness.html?.v=1
AP
Election to benefit some industries, harm others
Sunday November 2, 10:39 am ET
By Christopher S. Rugaber, AP Economics Writer
"Big telecommunications carriers have forged many deals in the past eight years, such as Verizon Wireless' $28 billion purchase of Alltel Corp., approved with conditions by the Justice Department Thursday.
Such deals will likely face tougher antitrust scrutiny under either an Obama or McCain administration, analysts say.
In fact, some of the more contentious industry deals in recent years -- including the merger of Sirius Satellite Radio and XM Satellite Radio, and Google Inc.'s acquisition of DoubleClick -- might not have been approved under either candidate, says Paul Gallant, a telecom analyst at Stanford Washington Research Group."
http://www.electronista.com/articles...sue.sirius.xm/
electronista
11/03/2008, 8:30am, est
monday, november 3rd
Shareholders sue Sirius XM over merger woes
A group of "incensed shareholders" calling itself Save Sirius today said it was suing Sirius XM over allegedly profiteering at the expense of investors. The lawsuit, filed in a California Central District, Southern Division court, accuses the satellite radio provider of violating RICO anti-racketeering laws and the Sherman antitrust act through decisions relating to the Sirius and XM merger only completed earlier this year.
Company chief Mel Karmazin and other executives have allegedly damaged the value of Sirius XM stock by not only waiting through the entire FCC approval of the deal, which at 16 months long was the longest in FCC history, but also of maintaining agreements between Sirius and XM that kept either from looking for alternative deals or of canceling altogether. Executives from the two companies were bent on completing the merger at "any and all costs," the plaintiffs claim.
They also accuse Sirius XM of making shorter-term mistakes that hurt the company's well-being, including no near-term plans for interoperable radios that handle both Sirius and XM networks as well as giving 300 million shares to the financiers of XM's debt that were promptly sold short.
Save Sirius hopes that it will ultimately remove Karmazin as well as at least some existing board members.
Sirius XM hasn't yet responded to the charges made in the lawsuit but has previously said the merger was necessary to fend off competition from not just traditional radio but also any digital media, including iPods and other portable media players.
http://www.digitalhome.ca/content/view/3047/281/
Suit accuses Sirius XM CEO of trying to steal the company
MONDAY, 03 NOVEMBER 2008
A group of over 500 incensed Sirius shareholders have filed suit against the management of Sirius XM who they say have violated their fiduciary duty to shareholders by driving down the company's stock price before attempting to take it private in a leveraged buyout.
The case, filed in California, accuses management of violations of the U.S. Federal Racketeer Influenced and Corrupt Organizations Act (RICO).
The group, calling themselves "Save Sirius", is seeking to prevent management from further damaging its shareholders with massive amounts of additional dilution (8 billion shares in the fully diluted float) and as much as a 1 for 50 reverse stock split.
"We are working to gain control of our company by seeking to remove current members of the board as well as top executive Mel Karmazin," said Michael Hartleib on behalf of Save Sirius and its members.
The group points to a September 15th 2008 Wall Street Journal article written by Sarah McBride, in which she states, "Given Sirius XM's low stock price, Mr. Karmazin said he would love to take the company private" as evidence that Sirius XM management is trying to drive the Sirius stock price down and "has an agenda to steal this company from its shareholders".
In a written statement issued today, Save Sirius points to a series of critical moves by management under Sirius XM CEO Mel Karmazin that have severely damaged shareholder value in violation of their fiduciary duties resulting in shares losing over 90% of their value and now could allow the current management to buy up the company on the cheap.
The moves include:
Locking their shareholders into the longest merger delay in history;
Preventing the Corporation from seeking alternatives or potential suitors;
Failing to commercially introduce interoperable radios;
Their insistence on going forward with the merger at any and all costs;
Consummating the merger issuing 300 million shares to the financiers of XM's debt to be sold short on the open market
"In light of the aforementioned, it is clear that they have lost sight of their obligations to shareholders and have breached and will continue to breach their fiduciary duties in the future. We, as a group, will not stand for this and will use any means possible to prevent and preclude them from stealing this company from its rightful owners -- we the shareholders," said Michael Hartleib, on behalf of Save Sirius and its members.
http://br.sys-con.com/node/732704
SIRIUS Shareholders File Suit Against SIRIUS XM Radio Management
By: PR Newswire
Nov. 3, 2008 06:00 AM
Market green - SIRI red.......
SIRI just dipped below .30......
Will this BS ever end?
SIRI has now fallen below S1 and S2.....
R2 R1 Pivot S1 S2
0.36 0.35 0.34 0.33 0.32
http://www.adweek.com/aw/content_dis...8705d48e64165b
GM's Sirius XM Biz to McCann
Nov 3, 2008
-By Adweek Staff
DETROIT General Motors has tapped McCann Erickson's office in Birmingham, Mich., already a client roster shop, to promote the use of Sirius XM Radio to owners of new and certified used GM vehicles, the agency confirmed today.
Interpublic Group's McCann will tout Sirius XM subscriptions through the GM dealer network and across the marketing divisions for Chevrolet, Buick, Pontiac, GMC, Saturn, Hummer, Saab and Cadillac.
"We are thrilled to have been chosen to work with GM on this fast growing technology and entertainment platform," said Garry Neel, CMO of McCann Detroit. "Our experience in working with the GM corporate brand and helping driving demand across all GM divisions should prove valuable as we support the many opportunities that lie ahead for GM with Sirius/XM Radio."
Ad spending was not immediately available. The business moved to McCann following a review.
Campbell-Ewald in Southfield, Mich., also an IPG shop, was in the incumbent. Ultimately, the competition came down to McCann and Boston-based Digitas, also a roster shop of GM, per sources.
I just bought 5000 @.30...maybe will go lower too.