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Thread: Mel saved the company?

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  1. #1
    john is offline
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    Mel saved the company?

    They just said that Mel reconverted the old Dec. converts 173 million worth.

  2. #2
    Gnarkillz is offline
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    you got to hand it to Mel. I had my doubts, but in the end he always prevails. This weekend should be interesting - hopefully we get a deal with Malone or even Ergen it sounds like.

  3. #3
    sxminvestor is offline
    Quote Originally Posted by john View Post
    They just said that Mel reconverted the old Dec. converts 173 million worth.
    Holy crap, that is 2.4 billion more shares.

  4. #4
    terrymr is offline
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    Quote Originally Posted by sxminvestor View Post
    Holy crap, that is 2.4 billion more shares.
    It was a swap of December convertables for new (non-convertable) Senior Notes due 2011.

  5. #5
    sxminvestor is offline
    Oh, so no new shares.

    I'm not thinking straight lately from all this.

    So it's not too bad then and more positive than I thought. Then they have more shares still left to negotiate with other more short-term debt.

  6. #6
    terrymr is offline
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    Quote Originally Posted by sxminvestor View Post
    Oh, so no new shares.

    I'm not thinking straight lately from all this.

    So it's not too bad then and more positive than I thought. Then they have more shares still left to negotiate with other more short-term debt.
    Yeah my guess is a large chunk of the remaining authorized shares will be going to dish/echostar to take out the feb debt. Last nights unconfirmed reports say remaining discussions are about finalizing non-financial terms - probably board seats and such.

    We get diluted, but frankly far worse than 100% dilution is already priced in.

  7. #7
    Sirius Roadkill is offline
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    Quote Originally Posted by sxminvestor View Post
    Oh, so no new shares.

    I'm not thinking straight lately from all this.

    So it's not too bad then and more positive than I thought. Then they have more shares still left to negotiate with other more short-term debt.
    I think we are still ok even if you fully dilute . . just run the $300mm PFCF projected for next year divided by full dilution and slap a 1 times next years growth multiple on it . . . it really ain't that bad considering where we been.

    plus room for more synergies if we extend but /reworkdefer some of the bad talent contracts . . .

  8. #8
    terrymr is offline
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    Quote Originally Posted by Sirius Roadkill View Post
    I think we are still ok even if you fully dilute . . just run the $300mm PFCF projected for next year divided by full dilution and slap a 1 times next years growth multiple on it . . . it really ain't that bad considering where we been.

    plus room for more synergies if we extend but /reworkdefer some of the bad talent contracts . . .
    What about combining uplink/ground control ops with dish ? Potential savings there too.

  9. #9
    Sirius Roadkill is offline
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    Quote Originally Posted by john View Post
    They just said that Mel reconverted the old Dec. converts 173 million worth.
    good call john! you were 1st here and at SA (ya beat me by miliseconds over at SA)

    as Stymie said from the back-end of the fire engine "I don't where we're going, but we're on our way"

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