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  1. R-U-Sirius is offline
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    Joined: Jan 2009 Location: Memphis, Tennessee Posts: 36
    02-06-2009, 09:56 PM #251
    Anyone hear of that date for the announcement. I still have not seen or heard a peep on this. (Via 4QT numbers)

  2. Hughes is offline
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    Joined: Mar 2008 Posts: 168
    02-06-2009, 10:00 PM #252
    Quote Originally Posted by R-U-Sirius View Post
    Anyone hear of that date for the announcement. I still have not seen or heard a peep on this. (Via 4QT numbers)
    If I'm not mistaken, the press release for the 4th quarter CC last year was 02/12 so I am expecting to hear an announcement next week.

  3. Sworntwofun is offline
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    Joined: Dec 2008 Posts: 588
    02-06-2009, 11:20 PM #253
    what do you think!
    NEW YORK, Feb 6 (Reuters) - EchoStar Corp Chief Executive Charles Ergen's reported purchase of Sirius XM Radio Inc's debt is likely a strategic move to acquire assets, rather than an attempt to eventually force the company into bankruptcy, research firm CreditSights said on Friday.

    On Thursday, bonds of Sirius XM rallied after the Wall Street Journal reported Ergen was purchasing the company's debt in the open market.

    It is unclear which, if any, of Sirius' bonds Ergen has purchased and if Ergen is purchasing the debt via EchoStar or not.

    "If Ergen could accumulate enough of a position to prevent Sirius XM from refinancing its 2009 maturities, he would be a formidable and unwelcome addition to the bondholders' table," said CreditSights analyst Jake Newman.

    Sirius XM has a slew of debt maturing this year. About $175 million in 2.5 percent convertible notes is due on Feb. 15, according to KDP Investment Advisors.

    Meanwhile, Sirius has $350 million of bank debt due in May and another $400 million in convertible notes due in December, said Newman.

    The most recent report on the February 2009 convertible bonds shows that an asset management unit of Goldman Sachs had about $135 million, or 77 percent, of the issue and this could be what Ergen is after, said the analyst.

    In a debt-to-equity swap, this would give Ergen an 18 percent stake in the company.

    If Ergen's intentions are to force Sirius XM into bankruptcy, he would likely need to act now and purchase Goldman's stake of the 2.5 percent convertible notes in order to control the reorganization plan, CreditSights said.

    But this would be very expensive as Ergen would need to buy the entire Goldman stake.

    As of Thursday, the bond price for the 2.5 percent convertible notes had climbed over par, he said.

    "The theory here would be that he wants to buy back the existing debt on the cheap after a bankruptcy. To control the reorganization plan, he would need a blocking position of one-third of the senior unsecured bonds, we believe," he said. (Reporting by Tom Ryan; Editing by Jonathan Oatis)

  4. billhart22 is offline
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    Joined: Dec 2008 Posts: 4,896
    02-06-2009, 11:24 PM #254
    Quote Originally Posted by Sworntwofun View Post
    ya I know.....I am here all day....So I could watch... but even though I still have another 25000 to back it up..... Its is 2000 a pop...from .12 to .20 But never fails its never good enough....But this is maybe a once in a lifetime... so you got to plat it right....right Bill.....
    I don't know what right is with this whole situation. You could either be a millionaire in a short time frame....or who knows. If it is worth a gamble to a guy and he can afford to lose, then why not.....I am just baffled what will happen.

    Will SIRI go bk and the shareholders get screwed, or will the shares get bought out, or will Echostar do a takeover. I just don't have the slightest insight to what will happen.

    To me right now this is like playing Texas Holdem and betting all in on the "River" hoping for an Ace to show up. They win on T.V. all the time on the River, but I don't have anything to back anything up.

    I truly hope that everyone wins. If we win I will be a microscopic winner compared to people that are large and vice versa.

    So it is just what a guy is comfortable with and can afford to lose without damaging his/her economy. (shrugging shoulders..)

    If we win, then I can be your driver and bodyguard...lol

  5. Sworntwofun is offline
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    02-06-2009, 11:31 PM #255
    You got it.... You know what Tony spells backwards right? TON Y Y NOT!


    Positions AIB AIG BAC C F GTXO SIRI***

    GTXO is next to go...all it has to do is get to .12 again......
    Last edited by Sworntwofun; 02-06-2009 at 11:34 PM.

  6. Sworntwofun is offline
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    02-06-2009, 11:43 PM #256
    Well the latest scuttlebuck is... echo has been picking up debt on the open market for a while....and in the meantime....Mel with all his wisdom has been combining all sirius and xm bandwiths on the sirius satalites so they could sell the xm satalites and the xm building in DC... to echo and pay down the debt..

    and echo will have its own satalites and offices to do what they want to do..

    I havent seen it formally yet...but it makes a lot of sence... and these are the
    kind of moves Mels famous for....

    Let hope this is the case!

  7. trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    02-06-2009, 11:55 PM #257
    i can tell you whats going to happen bill, sirius pay's off all 2009 debt and the stock price eventually climbs back up over a dollar, you can hold me to that one.

  8. billhart22 is offline
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    02-06-2009, 11:57 PM #258
    Quote Originally Posted by Sworntwofun View Post
    You got it.... You know what Tony spells backwards right? TON Y Y NOT!


    Positions AIB AIG BAC C F GTXO SIRI***

    GTXO is next to go...all it has to do is get to .12 again......
    That is funny.

    I have been watching it hoping that it hits .12 for you. At least it doesn't wander all over the place, because that would make me a nervous wreck if I still had it

  9. billhart22 is offline
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    02-07-2009, 12:02 AM #259
    Quote Originally Posted by trippingthespeculatingpos View Post
    i can tell you whats going to happen bill, sirius pay's off all 2009 debt and the stock price eventually climbs back up over a dollar, you can hold me to that one.
    I believe that you could be absolutely right. That is my whole hang up. I really don't understand all of SIRI's finances. That is why I listen to the Oracle (Newman), because he is really into the finance end of things and knows what he is talking about.

    A lot of these people just confuse the hell out of me and the more they throw out, the more I get confused.

    You have a lot better handle on it than I do. Everybody is better at different things. I understand business...I am a businessman...but some of this just zings over my head.


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