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Thread: WSJ: Echostar Acquiring SIRI debt

  1. #21
    winagain35 is offline
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    Quote Originally Posted by Newman View Post
    According to the 10-Q released on November 10th, 2008 the company has 329 million in cash on hand and current usable assets of 1.02 billion.

    Not sure where the Yahoo poster is getting 1.4 billion.
    That's good news! The less cash the better... Unless Ergen is using his own money.

  2. #22
    Newman is offline
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    It is amazing how one little article can panic an entire site...

    It is also amazing how quickly we came up with some answers... I am willing to bet money that the market is not nearly as quick as we were, and the stock will still take a dive tomorrow.

    It is time to go to bed. I'll be up early tomorrow to see what happens.

  3. #23
    Newman is offline
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    If Ergen is using his own money, then the WSJ article is wrong because it said that Echo was buying the debt, not Ergen. It would be two completely different scenarios...

  4. #24
    dread is offline
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    Quote Originally Posted by Newman View Post
    It is not necessarily a bad thing, but has the potential to be crushing to current shareholders. From what I have seen thus far in their financials, I feel more comfortable with my investment. I do not think they have the ability to buy enough to force BK, and this may simply be exactly what it looks like: a business investment. I was looking at buying the same bonds, so I cannot fault them for that.

    It was just the potential that made this very scary for a moment... I am better now.
    This is starting to damage my calm!!!
    As if I haven't lost enough sleep over this investment.

  5. #25
    winagain35 is offline
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    One thing I've learned - I can't predict how a specific news event will immediately impact the pps. Should be an interesting morning.
    G'night boys... let's hope for the best.

  6. #26
    just sirius is offline
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    Newman

    Can you try alittle harder to convince the rest of us(lol) I just had to change my underwear after reading that WSJ article.

  7. #27
    sxminvestor is offline
    Quote Originally Posted by Newman View Post
    It is not necessarily a bad thing, but has the potential to be crushing to current shareholders. From what I have seen thus far in their financials, I feel more comfortable with my investment. I do not think they have the ability to buy enough to force BK, and this may simply be exactly what it looks like: a business investment. I was looking at buying the same bonds, so I cannot fault them for that.

    It was just the potential that made this very scary for a moment... I am better now.
    I don't know, but the stock could be up tomorrow on this news, especially with Mel's relationship with Joe Clayton. Joe was the CEO of Sirius until he hired Mel & then he went to BOD of Sirius and stepped aside when Gary Parsons and XM came on board. He then sold his shares and moved onto Echostar board in October of '08. Now this.

    Funny, because I had a feeling there was going to be some type of partnership when he went on their board. Not sure how this will be taken tomorrow, but it may b seen as a positive and create some buying in the shares.

    Is Homer out there to put his 2 cents ?

  8. #28
    Newman is offline
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    justsirius: That is how the WSJ wants you to feel about Sirius. They hate them. When was the last positive article you read from the WSJ about SIRI?

    sxminvestor: That is an excellent point, but the news has to be digested first, and then this fact can come out. Perhaps the big hit to Sirus will happen tomorrow morning. People that actually have a life and do not stay up until 1 am in the morning (like we are doing now, researching this article) will wake up, see the headline, panic, and sell.

    Once the article has been digested and the research done, they will see that this is not such a bad thing, and the stock may rise again... but who knows WTF this market will do. Sirius has never done anything "normal".

    The thing that pisses me off the most: I DONT HAVE ANY CASH LEFT TO TRADE WITH!!! And it will take a few days to get money in. Damn. I was hoping to take advantage of this...

  9. #29
    trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    im not worried, green tommorow, screw the wsj and every other outlet reporting on siri, they have said nothing but bad things no one cares what they say now, market know's the company is not going bankrupt for sure now and it will rise since it is priced for bk. ^_^

  10. #30
    just sirius is offline
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    SXM

    Thanks for rational thinking right about now. The more i think about it, it seems if ECHO wants SiriusXM, there would be easier ways to get it done without F'ing with the subs, shareholders, and business model.
    Dont know if I'm suppose to smile or bend over and take it like a man?

    Tomorrow will tell. I wonder if Mel will make any kind of a statement. Could this actually be the New, TOP secret investor Mel has been hinting about?

  11. Ad Fairy Senior Member
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