Thanks for the info & Good luck to you!
SIRIUS XM SATELLITE RADIO FORUM
Thanks for the info & Good luck to you!
heh i would do it but im not using a margin account so im assuming my shares have not been lent out.
more wsj news, of course u need a sub, some1? any1? looks like it could be big news but shit i only get the first paragraph GREEREEEERERAWERWEFWEFWEF
http://online.wsj.com/article/SB123413823508461499.html
Satellite mogul Charles Ergen made an unsolicited offer late last year to take control of Sirius XM Radio Inc., and was rebuffed, according to people familiar with the situation.
Mr. Ergen proposed for one of his satellite companies -- EchoStar Corp. or Dish Network Corp. -- to inject enough capital into Sirius for it to meet its debt obligations and avoid a bankruptcy filing, these people said. Despite the rejection, Mr. Ergen has recently reiterated his interest in taking control of Sirius.
Mr. Ergen isn't seeking to force Sirius into bankruptcy proceedings in order to acquire its assets more cheaply, ...
HOLY CRAP,
Could this just be bullsh*t??? They always say "according to people familiar with the situation." Which seems to insinuate no fact!!!
yes that is the problem with these articles no clue if they are reliable.
"Sirius doesn't have enough cash to repay the bonds"
That is not true, they do have enough cash to pay feb debt. It would make things tight but they do!!!
"In discussions with investors last week, Mr. Karmazin said that unless he could raise $175 million, he would be faced with one of two options: having Sirius file for bankruptcy or cutting a deal with Mr. Ergen." How would they have obtained this information???
This article drives me crazy, "according to people familiar with the situation" is like after every sentence. It appears that they are trying to not be held accountable for their false information!
Last edited by Hopeful; 02-09-2009 at 01:40 AM.
"Mr. Ergen's move has put Sirius Chief Executive Mel Karmazin in a corner. In discussions with investors last week, Mr. Karmazin said that unless he could raise $175 million, he would be faced with one of two options: having Sirius file for bankruptcy or cutting a deal with Mr. Ergen. The bankruptcy option probably would be the least attractive for shareholders."
Are u for real? I have a hard time believing he said that :/
The whole article has holes in it! They appear to be bashing hoping for the SIRI to drop tomorrow!
to me the whole article is about how mr ergen is there only hope to get out of bk, which is saying they have a way out of bk at least, but they always have to make it look really bad.
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