I may put a bid in for 100,000 shares at .08 or .09 since I only lost about 15 -20 X that already in the past year on this Goldman scam.
SIRIUS XM SATELLITE RADIO FORUM
I may put a bid in for 100,000 shares at .08 or .09 since I only lost about 15 -20 X that already in the past year on this Goldman scam.
Yawn..........
http://www.marketwatch.com/News/Stor...&siteid=yhoof2
Moody's lowers Sirius ratings on liquidity challenges
By Wallace Witkowski
Last update: 11:11 a.m. EST Dec. 23, 2008
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service said Tuesday it downgraded the probability of default rating and the corporate family rating of Sirius XM Radio Inc. (SIRI:0.12, +0.00, +1.1%) to Ca from Caa1 because of debt coming due in the new year and liquidity problems. The rating outlook is negative. "With nearly $1.0 billion of its $3.3 billion total debt coming due in the New Year ($190 million in February, $350 million in May and $433 million in December), and given the current background of capital market dislocation and the company's poor liquidity situation, the rating actions anticipate that Sirius will be unable to repay or refinance its maturing debts without negotiating some sort of compromise arrangement with at least a portion of the affected constituents," Moody's said in a statement.
What a stupid idea...
http://www.rbr.com/features/viewpoints/11963.html
"Satellite Radio comes back to Earth:
Satellite Radio is facing a real challenge. Even with the merger of Sirius and XM Radio, the combined company is facing huge problems. I predicate that Sirius/XM will begin distributing their programs free online – but with ads paying for the cost."
I could be wrong, but I think that the market has basically bottomed out. It looks to me like it is just floundering and waiting for someone to make a bold step in any direction. Watching SIRI (and owning some), I see that the short selling is slowing down, because I believe there isn't enough volatility for people to make much money without having huge amounts of stock to make up a difference with broker fees. My other stocks are starting to have decent resistance levels. I get the feeling that people are having trouble trying to nickel and dime SIRI right now, so if you can get it for .08 or .09, then at this point you should score.Originally Posted by sxminvestor
I am simply amazed that every business or store that I go in to, there is Sirius playing in the background or even on the T.V. in the liquor store. With all that money invested in Satellites and being able to get the programming while you drive any where in the country, not to mention your favorite stations....SIRI's satellite radio is not going away. It may be bought out, but the infrastructure will stay and be improved upon.
SIRI stock can't go much lower without being acquired, but who knows. There is too much technology to be improved upon and delivered in this industry. Backseat SIRI T.V......just a thought. I just wish that management would treat SIRI's budget like they would at home...but maybe they do...and maybe that is the problem. SIRI is sure spending the money on new programming and continued contracts..I don't know if that is good or bad, what do you think?
Maybe SIRI has outgrown itself and somebody bigger will step in, buy it and know how to manage it.
The dumb idea of putting it on the internet with ads in it is self-defeating. I can turn on my AM/FM radio and gag all day....that is blatantly stupid! The reason that I have SIRI radio in my cars and at home is to eliminate all of that toxicity.
So .08 or .09, I would be surprised....but it sure doesn't hurt to have an order put in, but then again, if it goes that low do you really want to risk the money, unless it is for a really long term proposition.
It is all beyond me......those are just some of my non-technical thoughts.
I hope the best for everyone here.
I hope you know that these 24/7 WallSt.com people are a bunch of short hacks....
http://www.247wallst.com/2008/12/moodys-outlines.html
December 23, 2008
Moody's Outlines Default Risks For SIRIUS (SIRI)
As if you didn't know there were problems at SIRIUS XM Radio Inc. (NASDAQ: SIRI), Moody's has decided in its infinite wisdom to downgrade the debt rating of Sirius Satellite Radio Inc.'s debt.
This downgrade is showing an increased probability of default rating and lowered its corporate family rating to "Ca" from "Caa1" now. The company's rating outlook is negative and its speculative grade liquidity rating remains positioned at SGL-4, indicating poor liquidity.
According to Moody's, "With nearly $1.0 billion of its $3.3 billion total debt coming due in the New Year ($190 million in February, $350 million in May and $433 million in December), and given the current background of capital market dislocation and the company's poor liquidity situation, the rating actions anticipate that Sirius will be unable to repay or refinance its maturing debts without negotiating some sort of compromise arrangement with at least a portion of the affected constituents." Sirius has already initiated transactions to refinance portions of its debt....Moody's considers these transactions as being analogous to a distressed exchange...
Moody's outlined the rest of the cuts, but frankly there is nothing really new here. It just outlines the notion that the overseers are growing more and worried and that their confidence is reflective of today's price. Too bad they had to wait until shares were at $0.12 before the call.
Jon C. Ogg
December 23, 2008
That is real foresight on their part, but mind you, hind-sight is safe.
This line from the article cracks me up......
"Moody's has decided in its infinite wisdom to downgrade the debt rating of Sirius Satellite Radio Inc.'s debt."
Infinite wisdom? Are they God? Has Moodys shown infinite wisdom in their ratings of the mortgage and financial sectors this past year?
What a ****ing joke...
The Motley Fool won't shut up and they still haven't corrected the error in their "article" that I pointed out to them.....
http://www.fool.com/investing/genera...t-monster.aspx
Sirius XM Nibbles at the Debt Monster
By Rick Aristotle Munarriz
December 23, 2008
------------------------------------------------------------------------------------
On December 23, 2008, at 1:08 PM,
DemianBohemian wrote:
SIRI is not going bankrupt anytime soon and no, The Motley Fool is not hyping the stock in the pennies - they have been bashing it on a daily basis. They exaggerated the debt due in the their recent article on Dec.19th (Sirius Ammo for 2009) saying that there was $300 million due in Feb. '09 when it was actually 209 - 210 million and even less now. I left a comment under their article pointing out their error, but they have yet to correct their untrue statement in the article. That is the kind of sloppy analysis you get from an outfit that was recommending XM as a stand alone company to their paid subscribers at over $30 a share. They can't even get their bashing facts straight.....
More rehashing of the same crap.......
http://www.forbes.com/feeds/ap/2008/...ap5855391.html
Associated Press
Moody's downgrades Sirius to "Ca"
Associated Press, 12.23.08, 12:03 PM EST
Moody's Investors Service downgraded its credit rating for Sirius XM Radio Inc. by three notches Tuesday, expecting the company will have to seek a compromise with debt holders next year.
The ratings agency downgraded the company's probability of default rating to "Ca" from the already non-investment grade "Caa1." The rating outlook is "Negative."
Moody's (nyse: MCO - news - people ) said Sirius (nasdaq: SIRI - news - people ) has nearly $1 billion of its $3.3 billion debt load coming due in 2009. And given the moribund state of capital markets and Sirius' "poor liquidity situation," Moody's said it expects the company will have to reach a compromise with at least some of its debt holders.
Sirius is trimming 22 percent of its work force by the end of the year, looking to turn a first-ever adjusted profit in 2009. The company still expects a loss in the fourth quarter, though it projects it will shrink to $32 million from $224 million in the year-earlier period.
Sirius shares were flat in midday trading Tuesday at 12 cents.
Sad.......
http://biz.yahoo.com/rb/081223/busin...nce_death.html
Reuters
French manager, possible Madoff victim, dead in NY
Tuesday December 23, 1:20 pm ET
NEW YORK (Reuters) - A French executive whose fund is reported to have lost large sums it invested with Wall Street adviser Bernard Madoff was found dead in New York City, police said on Tuesday.
Thierry Magon de la Villehuchet, 65, was pronounced dead at 8 a.m. at a Madison Avenue building in midtown Manhattan, New York City Medical Examiner spokeswoman Ellen Borakove said. He was co-founder of money manager Access International. She said the cause of death was not yet known.
New York City police said they were called to the building at 7.30 a.m.
Villehuchet had been trying to recover some of the funds lost to Madoff, whom U.S. prosecutors accuse of orchestrating a $50 billion fraud, Paris newspaper La Tribune reported on its website.
Access did not immediately return a call seeking comment.
(Reporting by Michelle Nichols and Daniel Trotta in New York and Estelle Shirbon in Paris, Editing by Leslie Gevirtz)
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