SIRI Intraday Wednesday 7-15-09
This is total insanity, another HUGE terrestrial station down the drain.
http://www.boston.com/business/ticke...chord_for.html
Howard just talked about the death of another one of his former affiliate stations on Monday and now one of his former channels in one of the biggest markets (Boston) is down the drain. I am sure he will talk about this tomorrow.
If WBCN can not survive, terrestrial radio as we once knew it is dead. 2 Years ago there were 3 rock stations in Boston.... one was consolidated into another and now WBCN is gone... we are down to 1 new rock station. INSANE! Before I switched to Sirius 5 years ago there were 5 rock stations programed on my cars radio... now there is only 1 left.
If anyone else here is from mass you can attest to this madness for the other people around the country on these boards. Trust me guys, this is a real shocker. UPDATE: check out the number of comments pouring in on that article... its more than when they had a story about the H1N1 Pig Flu the day the news broke... that should give you an idea about how shocking this is.
What is really interesting is "WBCN will become a Web-only operation available at www.wbcn.com." ?!?!? They will go off the air but continue online? How could they possibly sustain a following?
NASDAQ reimplementing de-listing rule
I pulled Rel's post from yesterday:
Originally Posted by relmor2003 View Post
Everyone hear the good news yet?
We will be given a delisting notice in Sept. if we dont comply. Rule will not be extended. NO ONE wants that. Bondholders, shorts, longs, insiders, NASDAQ, MM's, so we are all on one side of the trade now. Only a complete meltdown would prevent us from getting to $1 now.
This is GREAT news. Im very excited. No one wins on the pink sheets. I didnt think they wouldnt get there by the end of the year anyway, but this just might guarantee it. But short term, who knows the effect.
Now add in the uptick rule, coming back for sure. Wow. A double wammy of good luck.
How did we go from this will be a very bad thing for us to this is now a great thing? Why are the shorts on the same side of the trade? If SIRI does get the notice, which they probably will, there is a whole nutha year before it could potentially happen, or SIRI does a RS.... Why wouldn't the MM's/shorts/whoever simply use that year to torture retailers for the next year? Let me say that I understand Rel's reasoning, but is it really likely?
Does any of this even matter if the economy comes back a bit, car sales come back, Sirius comes out with online apps on the other mobile platforms, Sirius does a major revamping of their online and user experience to include social networking/Slackdora style personalization of music feeds.