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  1. billhart22 is offline
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    Joined: Dec 2008 Posts: 4,896
    02-15-2009, 02:06 AM #31
    Quote Originally Posted by ray View Post
    tripping you to visit the mffais site for some sirius confidence
    Ray, I was checking it out and they are buying big chunks of SIRI. Thanks for the great information about that site, I appreciate it.

    Big institutions have been buying it late last week.

    I agree with Tripps and yourself....they are not buying it for a loss.

    There are a lot of big scare tactics going on. They want to buy the stock back.

    Here is an example of one stock that I own (CY) Cypress Semiconductors. They fell to $2.00 from multiple tens.....The CEO was on FOX (don't need any comments) and he was so pleased that he had been able to buy 20% of the stock back. Hint Hint.....Today it is at $5.36 and has been much higher. I have made out like a raped ape with it and will not sell it no matter what.

    Is there a lesson there? You and Tripps both have a good handle on the situation.

  2. Siriusowner is offline
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    Joined: Nov 2008 Location: The Oil Patch, Texas Posts: 922
    02-15-2009, 02:14 PM #32
    Quote Originally Posted by Demian View Post
    Answer - Never!

    SIRI will never go bankrupt......
    How do you know ? Never is a long, long time frame.

  3. nisvan is offline
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    Joined: Nov 2008 Posts: 141
    02-15-2009, 05:31 PM #33
    bill, just curious,

    exactly how do "raped apes" make out?

    never heard that term before -

    peace, brother (and may there be no bk)

  4. nisvan is offline
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    Joined: Nov 2008 Posts: 141
    02-15-2009, 05:51 PM #34
    let's just play this out, for the sake of argument....

    feb 17th arrives and siri doesn't pay the 175M. What then?

    in consumer bankruptcy, a default on an unsecured debt, usually
    means no action taken by the creditor for several months, until and if
    they decide to sue; then once they sue and get a judgment, only then
    can they seize the debtor's assets

    but since these are convertible bonds upon which there will be a default,
    does that mean the creditor (ergen) will then have an immediate right
    to take siri assets? i'm thinking maybe they can't, until they initiate court process, which takes time; yes owners of bonds have a superior position in a liquidatation to shareholders, but i question (and I really don't know for sure), if upon day one of a default, they have the right to do anything, except prepare and file a complaint in federal court, in order to get court authority to seize assets (after due process).

    i'm just suggesting that just because there is a theoretical chance of a default come tuesday, why does that necessarily mean the debtor (siri) has to immediately turn around and file bankruptcy protection, if there is not much the creditor can do (ergen) until court process has been initiated?

    obviously i may be missing something here, and instead, ergen's options Wednesday, in the event of a default, may cause, or he may have the option to cause irreparable harm to the company

    a home mortgage may a suitable analogy, for, when a homeowner misses a first missed payment, that is almost always not an occasion to immediately file bankruptcy; instead, the debtor/homeowner may encounter and be subject to a host of workout solutions prior to seizure of the home in a foreclosure sale, and thereby avoid loss of the home. But for the homeownere to file bankruptcy the day after the first missed payment, is rarely seen; it's just not necessary, yet, and may never be necessary.

  5. trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    02-15-2009, 05:56 PM #35
    i like the way you think nisvan, hopefully it applies to this case be it the worst case scenario comes true.

  6. SiriuslyLong is offline
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    Joined: Jan 2009 Location: Ann Arbor, MI Posts: 3,560
    02-15-2009, 06:36 PM #36
    Quote Originally Posted by nisvan View Post
    bill, just curious,

    exactly how do "raped apes" make out?

    never heard that term before -

    peace, brother (and may there be no bk)
    "raped ape" Siriusly, you've never heard that?

    I'm watching golf, having a drink, and feeling OK about my investment.... for now. God, if things go right, I'll consider myself blessed.

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