Stern Lawsuit Filing

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03-23-2011, 02:54 AM
Sirius Roadkill

Stern Lawsuit Filing

http://online.wsj.com/public/resourc...ternSirius.pdf

All boils down to this single paragraph . . . the rest of the complaint is puffery:

64. On or about, March 4, 2010, Richard Basch, Executive Vice President,
Legal and Administrative Affairs at Don Buchwald & Associates, Inc., wrote to Patrick
Donnelly, Sirius's General Counsel, asking for an explanation as to why the performance-based
compensation was not paid for either 2008 or 2009. Despite the parties' agreement and Sirius's
own public pronouncements regarding its subscriber levels, Donnelly claimed that Sirius
subscribers on the XM platform did not count towards the total number of Sirius subscribers.
Basch pointed out that this position was contrary to the plain meaning of the Agreement and the
parties' intent, but Sirius steadfastly refused to pay the performance-based compensation due to
One Twelve and the corresponding amount due to Buchwald.
03-23-2011, 03:15 AM
Sirius Roadkill

My take: As a matter of common sense, it stretches credulity to assert that "Sirius Satellite Radio" as a standalone company would have, in the event of a merger, agreed to compensate Stern for subscribers already independently acquired by "XM" as a standalone company . . . . or even those later added to the XM platform under the merged entity, acquired primarily through preexisting OEM agreements, except for those XM additions accruing as a result of "Best of" programming.

Sorry, this complaint doesn't pass the smell test.

And yes, the timing of this filing is dubious!

p.s. very nice to see Dr. Dave in the house this early a.m. . . . making rounds?
03-23-2011, 01:07 PM
Sirius Roadkill

Howard on Howard

Quote:

Howard Suing Sirius XM. 03/23/11. 6:20am

Howard took a call from a guy who asked about this lawsuit he has with Sirius XM. Howard said he is suing them. He said he has never gotten on the air and discussed his financial situation. That's just not something he does. He said this ties in with that so he won't say a lot about it. He said he's an honest guy and he's operating from an honest place. He said he knows one thing and he's honest and he believes that he's been dealt with unfairly. He said it's not comfortable to be doing this but that's what he thinks he has to do. He said he can't get into it much more than that. Howard said he isn't asking for anything that isn't his.

The caller said that it seems like Howard always lives up to his side of contracts and the companies are the ones who pull out. Howard said he's not going to get into it much more than that. He said it's very unfortunate. The caller asked how management is treating him now. Howard said he hasn't had any interaction with them since the lawsuit was filed.

The caller asked if he had checked out Bubba on RaidoIo.com. Howard said he hasn't but he's sure whatever Bubba is doing is good.

Robin said this whole thing is shocking. Howard said he couldn't handle this any other way. He said he feels like breaking up a dressing room but he won't be doing that.

Howard said he can't get into the details of the suit. He said he would like to but he's trying to use his head. He said he's ready to go home now. He said he'd like to talk about this because now he's distracted. He said this whole thing is not pleasant. He said he knows Robin wants to ask him stuff but he can't talk about it. He said that this is something that has happened to many people and he's just one in a long line. He said that he's going to continue his association with the company. This is just a business argument. He said he has to take a break to get his mind off of this. He said he's very distracted right now. Howard said he has to calm himself down after that. He said he feels like taking his shirt off right now. It's very weird.

http://marksfriggin.com/news.htm#wed

Check out what he said about how he is treated by management on Jimmy Fallon before the lawsuit was made public:

Check out all four segments from Howard Stern's appearance on Late Night with Jimmy Fallon 3/17/11:

http://siriusbuzz.com/forum/showthre...nd-His-Divorce

go to Post # 5
03-23-2011, 03:03 PM
Sirius Roadkill

It's Not Easy Being the Bad Cop

David Frear may not be everyone's "cup of tea," but as a shareholder . . . I for one am thankful that someone like David Frear is minding the store.

Bill Parcells once said that in order to be a successful NFL head coach "you cannot be afraid of the players."

The same is true in any business, particularly those that employ high-profile individuals. As Mel once said, "we run the business to make money."

http://www.bsfllp.com/lawyers/data/0001
03-23-2011, 03:14 PM
Sirius Roadkill

"There Should only be 2 Law Schools"

SB Trivia

Yup, time again for some Sirius Buzz Trivia. Now you will really have to put your thinking caps on because this is NOT a multiple choice question. Here we go:

Who once said the following:

"The problem is there are too many friggin lawyers. There should only be two law schools, Harvard and Yale and if you can't get into either one then you don't go to law school. That would cut down on all these frivolous lawsuits!"
03-23-2011, 07:07 PM
Sirius Roadkill

Trivia Clue

Here's a clue . . . it was NOT Tyler Savery . . .
03-23-2011, 07:37 PM
Sirius Roadkill

one more clue

It was NOT Charlie Sheen
03-23-2011, 09:00 PM
SiriuslyLong

Not Charlie Sheen? $hit.

The quote sounds like too reasonable a response; therefore, I attribute it to you.

The Jimmy Fallon links didn't work for me, but my PC is on its last legs.
03-23-2011, 09:47 PM
SiriMonkey

Howard Stern.
03-23-2011, 10:12 PM
SiriMonkey

Only nicely? lol Thank you SRK!

Julie

I need a stash of smileys like yours. :cool:
03-23-2011, 10:14 PM
Sirius Roadkill

Quote:

Originally Posted by SiriuslyLong

Not Charlie Sheen? $hit.

The quote sounds like too reasonable a response; therefore, I attribute it to you.

The Jimmy Fallon links didn't work for me, but my PC is on its last legs.

lol - Thank you SL . . . the idea has in fact crossed my mind many-many times . . . but we must of course give credit where credit is due and it is Howard's original thought . . . not my own.

Here's the pertinent Fallon link (it takes a little time to load . . . then a short commercial); fast-forward to about the 2:00 minute mark . . . very important what Stern said:

http://www.latenightwithjimmyfallon....-17-11/1314682

Quote:

Stern: You wanna know something, it's the best move I ever made . . . honestly, I haven't heard from anyone in management in months.
03-23-2011, 10:18 PM
Sirius Roadkill

Quote:

Originally Posted by SiriuslyLong

Not Charlie Sheen? $hit.

The quote sounds like too reasonable a response; therefore, I attribute it to you.

The Jimmy Fallon links didn't work for me, but my PC is on its last legs.

not your computer . . links are bad . . . refreshing now
03-23-2011, 11:31 PM
Sirius Roadkill

No let me see . . . .

Sirius XM weakness a buying opportunity, says Barrington

Quote:

Barrington believes the Howard Stern lawsuit should not derail Sirius XM shares and views the pullback today as a buying opportunity. The firm keeps an Outperform rating on the name with a $2.40 price target. :theflyonthewall

Sirius XM outlook grim, says Tyler Savery

Quote:

Watch for an immediate negative impact followed by a period of time where the overhang of such a large suit will degrade investment value. Even with a good financial performance, SIRI will have the baggage of this suit.
03-24-2011, 04:52 PM
SiriuslyLong

Congratulations Julie!! Actually, in retrospect, I heard Howard say that. I needed a multiple choice format to refresh my memory; that or a new brain as Lloyd has sucked the life out of this one.
03-24-2011, 05:22 PM
Havakasha

S&L, every one of your comments doesnt have to include me in it. ;)
Your brain power was always a little suspect anyway. :)
03-24-2011, 05:44 PM
SiriMonkey

Thanks S&L. I heard him say it too. And remembered, that's the surprising part. :D