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  1. Wheelhouse is offline
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    Joined: Oct 2008 Posts: 15
    11-21-2008, 03:38 PM #1

    Reasons to buy...

    a) SiriusXM has a monopoly on the only means to listen to professional sports in an automobile, and men drive car sales. If you know sports fans at all, this represents millions of people that MUST have the product (fanatics, fantasy sports fans, gamblers).

    b) It is a very valuable auto feature and a source of ongoing revenue for automakers.

    c) The refinancing will happen. Why would you not lend money to a monopoly that is showing clear progress to profitability? Whatever the prospects for the economy, without competition, COSTS become very predictable. This quality is very attractive to lenders. If you believe Mel at all (and I know that is a question for some) about the ongoing negotiations for financing, it's the terms that are at issue here, not credit availability.

    d) We are coming to the end of the most corrupt period in the equity markets in US history, with the abuse of derivatives, lack of law enforcement, and the use of taxpayer funds to fuel the interests institutional banks. This is sure to end soon with the new administration (along with, unfortunately some destructive regulation as well). It is impossible to judge the value of the SIRI until the corrupt activity surrounding the stock has been ended. Some big upward surprises may happen as corrupt forces are eliminated.

  2. dnay1969 is offline
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    Joined: Aug 2008 Posts: 57
    11-21-2008, 05:47 PM #2
    that a reason to hold not buy. I wont touch this stock until all debt is gone. Im already down over 20k and I am not buying another f.ucking share

  3. Wheelhouse is offline
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    11-21-2008, 09:00 PM #3
    Understood.

  4. Whynot is offline
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    Joined: Sep 2008 Location: The Mid-Atlantic Posts: 113
    11-22-2008, 12:02 AM #4

    At this moment....

    With the cost at .15 and BK nowhere in the near future.......where the hell else could .15 go that would be a better cause? 100 bucks and you get roughly 700 shares of a stock most of us believe will be at $5 in 2-3 years???

    Could be the chance of a lifetime, I'm cautious, but still buying little chunks at a time.

    Why not?
    -Whynot

  5. Greenland is offline
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    Joined: Jul 2008 Location: nation's capitol Posts: 119
    11-22-2008, 12:07 AM #5

    you got it !

    i'm gathering up all the change around the house and car , counting them as shares. i'm doing the same and buying in lumps here and there. i've already lost my ass , what's a little more.

  6. Whynot is offline
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    Joined: Sep 2008 Location: The Mid-Atlantic Posts: 113
    11-22-2008, 12:47 AM #6

    agreed...

    In my thinking, which is always a little questionable, what is the harm in buying shares at the .15 level? It can't go too much lower (besides BK which is very unlikely), so its like throwing your extra change into a savings account which:

    -may never grow (doubtful)
    -may stay the same for a while and steadily rise (likely)
    -or go through the roof and give returns over the next 2-3 years that are almost incalculable (highly likely once the debt is finalized and cost synergies come are realized)

    It's gamble for sure, but so is everything else in life!!

    Good night to all,
    Whynot

  7. SiriusHope is offline
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    Joined: Oct 2008 Location: Las Vegas Posts: 515
    11-22-2008, 01:06 AM #7
    Greenland and Whynot

    Yes I agree it's surely a gamble...so why not buy 1000 shares at a time and be hopeful over the next few years. If it fails to grow...oh well "That's Life"

  8. RickF is offline
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    11-22-2008, 09:39 AM #8
    Dnay may have something there - I want to beleive that this stock will "go through the roof" and have no problem waiting for 5 years or so but ..... Can the co survive? Can anyone put an educated (or for that matter - uneducated) guess - 50% chance of survival .... 20% .... 2% ???
    Newbie here and trying to make sense of it all! I think of ave down (.34 & .40 here) and then think that it may be good $$ after bad???
    Comments?

  9. dave99 is offline
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    11-22-2008, 12:26 PM #9
    I check every Sunday night on whether they filed for BK or not. With $300M cash they can't be to far away from filing and that is why they are probably not saying much. Every company needs a minimum of cash for daily operations, and fall to that, or below and they file for BK. GM says their minimum cash is 12-14B when they will file. I work for an airline that filed BK with 3B in cash. SIRI just can't take the cash and pay off the Feb debt and think all will be fine. I don't want SIRI to BK, because I still have a vested interest (25K+ shares), but I have seen what can happen when cash is low from first hand experience.

    And will they survive? Probably not under the SIRI banner, but after a reorganization under the BK laws. Keep checking on Sunday nights.
    Last edited by dave99; 11-22-2008 at 12:36 PM.

  10. Newman is offline
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    Joined: Jun 2007 Location: Dallas Texas Posts: 1,162
    11-22-2008, 04:05 PM #10
    Dave, why would you not back that statement up with numbers?

    GM says it will file around 12-14 billion in cash.
    Your airline filed with 3 billion in cash.

    What are their cash flows? GM LOST nearly 10 BILLION this quarter. If they keep it up at that rate, yes, 12-14 billion will not go far.

    Do you know how much Sirius lost this quarter? I will not tell you, because I want to know if you know.

    There is a huge difference between a company who uses 15+ billion in cash per quarter and one who uses much, much less as to how much cash they need to have on hand.

    RickF: As far as how likely they are to file bankruptcy? I would say about 20%, and there is no way it would be before August of 2009.

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