I'm hoping you guys are right about the bounce to 3.30. I'm worried that a drop below the $3 mark will trigger margin calls. But the analysts who all gave upgrades over the past two weeks have seen the trailing numbers and still upgraded, so again I'm hoping for the bounce but weary...
Our CEO has been busy playing with his $23,000,000 compensation that he received last year as shown in the proxy statement that came out today in the Edgar filings.
Originally Posted by Redcloud
Watch this video Meyers!!! Never mind, the Bully gave you $23,000,000 to kick your Azz!!! Us reets(The righttful owners of this company!") don't feel the same.
Why even vote it's a racket, I thought that was illegal? I'm voting Meyers out!!! He's been in charge a year, hasn't shown me skit as a CEO!!!
In fact, I think all reets ought to vote against anyone our BOD recommends. Send a clear contemplated and definitive signal!!! We are the reets, the minority, we are not going along anymore....
Just a heads up to all of the premium and forum members -- I will be moving the site to a bigger/faster/stronger server this weekend. There might be a bit of downtime late Friday night but, I chose the weekend so as to not affect the majority of the chatter around here.
In the end, page rendering speeds should be a little snappier and downtime should be nearly nonexistent from here on in. If any of you guys notice anything buggy come next Monday morning, please let me know.
Thanks for the support.
I'm thinking Malone didn't like the ungrateful nature of the backlash of his 3.68 bid. He felt it was fair since he feels it would never be that high without his backing, so now he can just buy the balance of the 49% he needs for under 3.15, which was the last big contract that put him at 50% if I'm not mistaken. He may be a cocksucker, but he isn't stupid.
Either that or he is just selling some of his stake to give back control ? Has he seen something in the metrics and the competition that scares him ?
One thing no one is talking about is future car sales, which always seemed to be the driver of this stock up or down & I tend to believe they are going to head back down & maybe the stock is just looking ahead.
Who are we kidding...the economy sucks and could be heading back to recession and big ticket items would suffer.
WTF from year end 10Q:
Stock Repurchase Program
Since December 2012, our board of directors has approved $4,000,000 for repurchases of our common
stock. Our board of directors did not establish an end date for this stock repurchase program. Shares of common
stock may be purchased from time to time on the open market and in privately negotiated transactions, including
transactions with Liberty Media and its affiliates.
On October 9, 2013, we entered into an agreement with Liberty Media to repurchase $500 million of our
common stock from Liberty Media. Pursuant to the agreement with Liberty Media, we repurchased $160 million
of our common stock from Liberty Media as of December 31, 2013. On January 23, 2014, we entered into an
amendment to the agreement with Liberty Media to defer the previously scheduled $240 million repurchase of
shares of our common stock from Liberty Media from January 27, 2014 to April 25, 2014, the date of the final
purchase installment under the agreement. As a result of this deferral, we expect to repurchase $340 million of
our shares of common stock from Liberty Media on April 25, 2014 at a price of $3.66 per share. We entered into
this amendment at the request of the Special Committee of our board of directors formed to review and evaluate
the Liberty Media proposal.
They have agreed to buy back 340M shares at 3.66 on April 25th coming when the stock is at 3.06 today - holy **** ?
Yes that is very troubling! Once again I must stress my feeling that we are in the midst of a calculated takeover. The 3.68 offer was designed to bring us down as the offer was by the only entity that would be privy to any inside knowledge of our company strength or weakness. And once the doubt had been established and the downward pressure in place, they pulled the rug out and laugh as we free fall. No worries though. They can stop it when they feel we are thoroughly freaked out enough to fall over each other to give our shares to them without a fight. Remember Greg Maffei said in a statement last month that the company "may hold further discussions with Sirius depending on market conditions." Those market conditions are ones established by Liberty and it's ability to crash the sp by simply "implying" that all may not be well with Sirius XM. Even our CEO's silence casts doubt about the true health of our company. And if you think the $4.50 and $5 upgrades should be helping us? (Even Cramer has Sirius as a "buy"!) I think it hurts us more as it throws another level of confusion into the mix where there "must" absolutely be something wrong behind the scenes if the sp burns after multiple upgrades that are much higher than the current sp. And as we fall deeper into a pit, I think my words are more than just speculation and this scenario has been definitely engineered and is by no means organic. I can hardly wait for the CC to see how they will do everything to downplay the numbers and of course proceed to annihilate guidance all while hiding behind their veil of innocence. That may be our death knell and I hope by some miracle we pull out of this before we plummet through $3 because I fear that we may never see even $3 again as the scraps are scooped up for a pittance! Oh yeah. And be ready for another downgrade to lock it in for Malone. Probably right before the CC and probably by Wunderluch and probably in the $2.30 range. (But this is still all just my opinion and I may be, and certainly hope I am profoundly incorrect!)
Originally Posted by sxminvestor
Just some rough numbers I was thinking about. I'm heading off to bed so anyone feel free to let me know if I'm making some obvious bonehead mistakes with my math and assumptions. Liberty could buy 340 million in shares down here at say 3.1 (340,000,000/3.1= 109,677,419.35xxx shares, it would only take a few days at these volume levels) and then turn around and have siri buy them back on the 25th (340,000,000/3.66 = 92,896,174.86xx shares). 109,677,419.35 - 92,896,174.86 = 16,781,244.49xx shares!! They would get 16mil more shares and it wouldn't cost them a dime! I ****ing hate Malone and what he is doing, but at this point why wouldn't he do that?
Siri up or down today? Futures green. Does it matter? Probably not. Head and shoulders looks fully formed. Hundreds and hundreds of millions of shares traded on the way down. Why not let it pop and turn those accumulated shares into profits? Can only wait for the outcome. Patience. Ugh...
Even with all the negativity surrounding SIRI we have to keep in mind that the analyst with the inside info. reinstated its price target once the offer was pulled. That would be Evercore and $4.50...just a little positive reminder of the value seen by an insider.