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Thread: Sirius preparing possible bankrupty filing

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  1. #1
    john is offline
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    It was fun while it lasted.

    While I hope it is not true, it looks like it is, thats right bankruptcy.

  2. #2
    ray is offline
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    According to who? Anything directly from Sirius?

  3. #3
    john is offline
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    Hey, I am as hopeful as the next guy and hope Mel or someone from SIRIXM comes out tomarrow or sooner to say it is all rumor. That is what usually happens if the news like this is not true.

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  5. #5
    clueless is offline
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    I dont think is news. It was reported months ago that Sirius XM spent time preparing for this. I think the WSJ is being irresponsible has hell by not dating when this happened. I think the are cleverly packaging very old news and making it sound like Sirius XM executives walked out of that office today, when we all know it started months ago.

    I could be totally wrong but if they did really start this process today, then why not say that in the article? They cleverly leave time out of the story.

  6. #6
    bklynSal is offline
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    Sirius preparing possible bankrupty filing

    Sorry guys

    http://www.reuters.com/article/marke...0090210?rpc=44

    I lost a lot on this stock as most of you.

    Wish I never put a penny in the stock marcket

  7. #7
    ray is offline
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    We are looking at one article in the newyork times that has been quoted over and over in other sources. This information/line of thinking has been around for some time according to our "friend" Michael Hartlieb. Not sure what his beef is with Sirius, but it seems he is a one man crusade to screw Sirius???

  8. #8
    Shawn is offline
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    The article points out that filing for bankrupcy puts pressure on Echostar to either make a bid to purchase Sirius outright, or convert its debt into equity at a higher price than they want. Let's not overlook the fact that Mel can't be keen to see the millions he has directly invested in the stock to be worth zero. And Echostar only owns a minority stake in Sirius, so it this might be a play to urge Echostar to either partner up or purchase more debt or make an offer. BUT . . . anything is possible. Also, Goldman Sachs can't be keen to see their convertibles go to zero. I assume they can try to recoup something in BK but they still lose. Right? There are a lot of entities that stand to lose here, so perhaps we will see someone come to the rescue? Any thought other than my wishful thinking?

  9. #9
    omantom is offline
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    Joined: Aug 2007 Location: Marietta, Ga. Posts: 3

    Bad news if true

    I have lost most of my investment already so losing the rest is chump "change". I have always been an optimist on this stock and have multiple subscriptions, and just don't believe that satellite radio will disappear, seeing there are 20 million subscribers. Who will come to the rescue of satellite radio, at bargain barn prices?

    omantom

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