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  1. James is offline
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    Joined: Jul 2008 Location: New Jersey Posts: 121
    02-16-2009, 05:45 PM #71
    Quote Originally Posted by Hopeful View Post
    This line here stikes me as interesting...

    Does that mean that if the creditors had the judge throw Mel out the shares would still be worth something??? Wouldn't the moment they file chapter 11 plumment the shares to 0?
    I have had some experience dealing with a company in BK. The company was the old Sunbeam (SON) and I bought the shares for about 16 cents (while in BK) with the hope that warrants, a possibility, would be issued to the shareholders of record when the stock was cancelled. I sold half of my shares when a rumor caused the stock to pop to near 30 cents and actually only lost something like fifteen dollars in the end. The point is it traded (I believe on the pink sheets) for a long time until the BK was done and the shares were ultimately cancelled. Subeam was restructured as American Household and later sold to Jarden (JAH). My remaining shares became worthless and had to pay $5 to have them removed from my account. I ponder buying some Jarden every now and then.
    Last edited by James; 02-16-2009 at 05:51 PM.

  2. SiriuslyGay is offline
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    Joined: Feb 2009 Posts: 77
    02-16-2009, 05:46 PM #72
    We were all expecting a major stake taken by Malone. He's not doing this because Valetines Day was a couple days ago. It will probably be below 50%.

  3. Siriusowner is offline
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    Joined: Nov 2008 Location: The Oil Patch, Texas Posts: 922
    02-16-2009, 05:52 PM #73
    The Barclay anal-yst is a moron... as well as the fool.com Aristotle... anything that bring in hits, huh ?

  4. winagain35 is offline
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    Joined: Jun 2008 Location: Denver, CO Posts: 190
    02-16-2009, 05:52 PM #74
    Quote Originally Posted by SiriuslyGay View Post
    We were all expecting a major stake taken by Malone. He's not doing this because Valetines Day was a couple days ago. It will probably be below 50%.
    I'm just saying that "major stake" doesn't sound quite as friendly as "bridge loan." Trying to keep some perspective here... I'm very curious to hear what the terms of this deal may be. If it were a slam dunk - there'd probably be a press release already.

  5. SiriuslyGay is offline
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    Joined: Feb 2009 Posts: 77
    02-16-2009, 05:54 PM #75
    Most information these past weeks have leaked around midnight EST. I would expect something to develop around that time. I will be up very early.


  6. bananaz is offline
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    Joined: Jan 2009 Posts: 220
    02-16-2009, 05:58 PM #77
    What is considered a "major stake"? Majority? 30%? What?

    Quote Originally Posted by winagain35 View Post
    http://online.wsj.com/home-page
    Check out the breaking news banner on the WSJ... I'm a little concerned about the language: Liberty Media near deal for major stake in Sirius XM; deal would save Sirius from bankruptcy.

    A major stake? I'm worried about what that might mean. This deal may not be as rosy as we're all hoping.

  7. trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    02-16-2009, 06:02 PM #78
    Stop finding negative stuff inside of good news, no bk accept it and let yourself be happy.

  8. trippingthespeculatingpos is offline
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    Joined: Dec 2008 Location: San Antonio Posts: 2,884
    02-16-2009, 06:03 PM #79
    MAJOR STAKE IS BETTER THAN BRIDGE LOAN IMO, MALONE IS NO SMALL FRY, HE HAS A HUGE FOLLOWING AMONG INVESTOR'S WHO WILL JUMP ON SIRI JUST BECAUSE MALONE IS INVOLVED. Watch we will see all debt will be taken care of for 2009.

  9. SiriusDad is offline
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    Joined: Feb 2009 Posts: 14
    02-16-2009, 06:04 PM #80
    Quote Originally Posted by trippingthespeculatingpos View Post
    Stop finding negative stuff inside of good news, no bk accept it and let yourself be happy.

    Amen, Tripp, amen.

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