SIRI Intraday Updates for the Week of 2/09/09

[Demian]

These guys continue to bash.......

http://www.todaysfinancialnews.com/u...odds-7620.html

Sirius: Cheaper than a scratch-off and just about the same odds
Today's Financial News - Posted February 9, 2009

Sirius XM Satellite (NASDAQ:SIRI) investors have their hands full once again. After a wannabe rally last week, shares have been on the decline ever since. Even more shareholder wealth will be destroyed this week.
By Andrew Snyder, TodaysFinancialNews.com

Baltimore – (TFN): It is a stock that will tease and trick you out of your hard-earned cash. It is sexy and alluring, yet it will take you out without a second thought. It is responsible for billions of dollars of destroyed wealth.
I sure hope you were not one of the folks buying shares of Sirius XM Satellite (NASDAQ:SIRI) last week on the news that an outsider was buying up the company’s soon-to-mature debt.

If you followed my advice, you sold your shares and ran from this dangerously speculative company. But if you went rogue and bought into the rally, you are sitting on some sizeable losses this week. Even worse, it looks like the losses will continue to multiply.

So far today, shares have lost over 7% of their value and are hovering at the $0.12 mark.
Today’s decline comes on the news that Sirius turned down an unsolicited deal made by EchoStar (NASDAQ:SATS) late last year. According to sources, the proposal would have been enough to pull Sirius out of its debt issues. Of course, it would have a new owner.

With just a week or so left until the company has its first round of debt obligations come due, Sirius has very few options if it cannot find a quick solution. According to the company’s controversial CEO, Mel Karmazin, Sirius has two options, bankruptcy or make a deal with EchoStar. That is not the kind of news a shareholder wants to hear. Either way, they will lose money.
This is going to be an incredibly volatile week for Sirius, with speculators trying to pull share price in every direction. Rumors will be all over the place. With expected price swings of 10% or more in the next few days, it is tempting to try to “trade” the company’s shares. But Sirius is so volatile and so unpredictable, you would have better odds betting on the ponies.
Shares of Sirius should not be traded on a stock exchange. They should be traded in Vegas.

[Demian]

It's just crazy how negative this has been spun. No one even mentions that the bonds are trading as if they will be paid and SIRI will not go bankrupt.......and that is the ONE thing that can be verified and is not "according to people familiar with the situation."

http://www.streetinsider.com/Insider...)/4371983.html

Charlie Ergen Reiterates His Interest In Sirius XM Radio (SIRI)
February 9, 2009

Satellite mogul Charles Ergen made an unsolicited offer late last year to take control of Sirius XM Radio (Nasdaq: SIRI) and was rejected, according to The Wall Street Journal.

Mr. Ergen's proposal was for one of his two satellite companies: EchoStar Corp. (Nasdaq: SATS) or Dish Network Corp. (Nasdaq: DISH) to inject enough capital into Sirius for it to meet its debt obligations and avoid a bankruptcy filing. However, despite this earlier rejection, Mr. Ergen has recently reiterated his interest in taking control of Sirius XM Radio.

Actually, Ergen is not trying to put Sirius into bankruptcy in order to reduce its debt-load and get a lower price, rather he believes that satellite radio would perfectly complement his television operation. Ergen likes that both are subscriber-based programming businesses that rely on similar technology.

Even if Ergen could gain control of Sirius XM Radio, the FCC may not look too kindly on this type of merger. The FCC may be against approving the marriage of satellite television and radio.

EchoStar began buying Sirius debt several months ago. However, it was only last week that EchoStar acquired control of a piece of Sirius's debt that could determine the company's future.

Mr. Ergen's move to take control of a crucial piece of the debt has cornered Sirius CEO Mel Karmazin. Mel Karmazin said that unless he can raise $175 million, he has one of two options: Sirius file for bankruptcy or SIRI cutting a deal with Mr. Ergen. The bankruptcy option probably would be the least attractive for shareholders as the equity would likely be wiped out.

[trippingthespeculatingpos]

ive completely tuned it all out now.

[Jworld]

Count me in as one who bought the hell out of this stock last week.........

[trippingthespeculatingpos]

if i had money left over id be buying it right now.

[winagain35]

Sorry boys, I bought more at .11, so we're probably going to close lower than that.

[Hughes]

Fortunately or unfortunately, I forgot to transfer money into my account on Friday so it would be available today. Now, I have to wait until tomorrow to pick up the shares I wanted. Could this be a sign that I shouldn't be buying? Time will tell...

[nisvan]

"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."

That's the statement that keeps getting repeated in article after article, as if it were fact. The Truth: It would not be admissible in a court of law. The jury would never hear it. It's called HEARSAY. It's also called trash talk; it's pultrefied fetid BullSh*t.

Whoever wrote it (MATTHEW KARNITSCHNIG, pf the WSJ online, you can gth; you must be a graduate of Acme School of Journalism), \: Who are your so-called investors? What are their names? And what discussions are you talking about? You're obviously told what to write, so that you'll get a paycheck, and so you create crap like that to keep your lousy job.

Hear me out: The paper is Garbage. Lower than the New York Post. Beneath the National Enquirer. Just rumour and speculation to sell print. Trash, Junk, BS, progaganda horsesh*t.

Again, Murdoch owns this paper, and he owns Fox. You can't believe or go by what they print. Unfortunately, half the world still believes the WSJ is in the business of journalism. The reality is that era is long gone.

[ray]

there are a lot of 100 share blocks running through, same ol stuff happening ;

patience

thanx for recent news demain

[Hughes]

"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."

That's the statement that keeps getting repeated in article after article, as if it were fact. The Truth: It would not be admissible in a court of law. The jury would never hear it. It's called HEARSAY. It's also called trash talk; it's pultrefied fetid BullSh*t.

Whoever wrote it (MATTHEW KARNITSCHNIG, pf the WSJ online, you can gth; you must be a graduate of Acme School of Journalism), \: Who are your so-called investors? What are their names? And what discussions are you talking about? You're obviously told what to write, so that you'll get a paycheck, and so you create crap like that to keep your lousy job.

Hear me out: The paper is Garbage. Lower than the New York Post. Beneath the National Enquirer. Just rumour and speculation to sell print. Trash, Junk, BS, progaganda horsesh*t.

Again, Murdoch owns this paper, and he owns Fox. You can't believe or go by what they print. Unfortunately, half the world still believes the WSJ is in the business of journalism. The reality is that era is long gone.

That's what I want to know. Who the hell are these so called investors he's talking to? A bunch of nonsense if you ask me...