Page 1 of 5 123 ... LastLast
Results 1 to 10 of 47

Thread: How much should we trust Mel Karmazin ?

  1. #1
    Siriusowner is offline
    Addict
    Siriusowner's Avatar
    Joined: Nov 2008 Location: The Oil Patch, Texas Posts: 922

    How much should we trust Mel Karmazin ?

    http://siriusbuzz.com/sirius-reports...er-results.php

    “SIRIUS continues to focus on excellence in programming and solid execution of our business plan,” said Mel Karmazin, CEO of SIRIUS. “Over the last year, we generated $100 million in new revenue, increased our share of satellite radio net subscriber additions by 24 percentage points and reduced our SAC per gross addition by 23%. SIRIUS has never been in a stronger position heading into the key fourth quarter holiday season, with exciting new products, compelling programming, and strong relationships with our retail and exclusive OEM partners. We are well prepared to meet fourth quarter demand and remain focused on achieving positive free cash flow.”

    http://siriusbuzz.com/mad-money-with-mel-karmazin.php

    When asked about the possibility of a deal with XM Satellite Radio, Karmazin said that while he believes “there is value creation by putting two companies together,” he then goes on to say “I’m interested in building a long-term value for our company and am open to anything that’s in our shareholders’ best interest but, we don’t need to do a deal, and don’t know if we ever will do a deal.” Which goes solidly along with his quote in his Q3 call “You should assume that we will be looking to kick their ass, in the fourth quarter.”

    http://siriusbuzz.com/sirius-and-xm-...-of-equals.php

    XM Satellite Radio and SIRIUS Satellite Radio have made the long awaited announcement that they have entered into a definitive agreement, under which the companies will be combined in a tax-free, all-stock merger of equals. The newly formed company will have an estimated value of approximately $13 billion, which includes net debt of approximately $1.6 billion.

    http://siriusbuzz.com/post-merger-su...p-below-10.php

    According to Mel there will be a “significant discount” once the companies do finally merge. When asked what’s “significant discount,” $10 or $2? Mel responded with “it looks like closer to $10 than $2.”

    I am no genius but, I did the math and that means at least a $6 drop in the current subscription price. If we take what Mel is saying to heart and this new company can offer the same kind of great programming we have be enjoying for only $6.95 per month, the public is going to have no excuse to not make the change.


    ... I could continue posting articles and links but then this post would be loooooong.... You can search all of them here:

    http://siriusbuzz.com/archives/

    Newman - Are you still sure Sirius will be FCF positive this year ? Why ?

    Does everyone still think Mel will do the right thing and defend the best interests of the shareholders ? Why ?

    It is funny how he "under promises" and "over delivers" huh ? or is it "over promises" and "under delivers" ? lol.
    Last edited by Siriusowner; 02-16-2009 at 09:27 PM.

  2. #2
    m4svt is offline
    Enthusiast
    m4svt's Avatar
    Joined: Sep 2007 Posts: 151
    money talks, and he's put his money where his mouth is.

  3. #3
    Siriusowner is offline
    Addict
    Siriusowner's Avatar
    Joined: Nov 2008 Location: The Oil Patch, Texas Posts: 922
    Quote Originally Posted by m4svt View Post
    money talks, and he's put his money where his mouth is.
    Sure...unfortunately, along with ours (well, not much mine though, I only own 1000 shares).

  4. #4
    J56D is offline
    Enthusiast
    J56D's Avatar
    Joined: Jul 2008 Posts: 160
    Does everyone still think Mel will do the right thing and defend the best interests of the shareholders ? Why ?

    I have never been a fan of mel & co but as I have said in the past "it is too late to change horses now" and now it is much too late. Sort of a strange question at this late stage.

  5. #5
    Siriusowner is offline
    Addict
    Siriusowner's Avatar
    Joined: Nov 2008 Location: The Oil Patch, Texas Posts: 922
    Quote Originally Posted by J56D View Post
    Does everyone still think Mel will do the right thing and defend the best interests of the shareholders ? Why ?

    I have never been a fan of mel & co but as I have said in the past "it is too late to change horses now" and now it is much too late. Sort of a strange question at this late stage.
    No is not strange, remember I only own 1000 shares. I am still thinking if it even makes sense to trade (buy more) tomorrow or just leave this issue rest in peace.
    Last edited by Siriusowner; 02-16-2009 at 10:07 PM.

  6. #6
    m4svt is offline
    Enthusiast
    m4svt's Avatar
    Joined: Sep 2007 Posts: 151
    see some people see the 10 cent stock price and see catastrophe, where all i see is opportunity. same goes for the recession, etc etc. many once profitable companies have been swallowed by the credit crisis, now imagine a company that's been around for almost 20 years and has never turned a profit making it out alive. that's something.

    if you ask me i don't think there's anybody better fit than Karmazin to run this company. he knows radio, he knows talent, he's a good business man. i always knew that any money i invested in sirius was at risk, so if we go BK i'm not going to be happy, but i wont be surprised, either.

  7. #7
    m4svt is offline
    Enthusiast
    m4svt's Avatar
    Joined: Sep 2007 Posts: 151
    Because he's invested his own money in it, not just what he's made off siri. after all, that's what it's about right, money?

    Quote Originally Posted by J56D View Post
    I have never been a fan of mel & co
    why?

  8. #8
    Siriusowner is offline
    Addict
    Siriusowner's Avatar
    Joined: Nov 2008 Location: The Oil Patch, Texas Posts: 922
    Quote Originally Posted by m4svt View Post
    see some people see the 10 cent stock price and see catastrophe, where all i see is opportunity. same goes for the recession, etc etc. many once profitable companies have been swallowed by the credit crisis, now imagine a company that's been around for almost 20 years and has never turned a profit making it out alive. that's something.

    if you ask me i don't think there's anybody better fit than Karmazin to run this company. he knows radio, he knows talent, he's a good business man. i always knew that any money i invested in sirius was at risk, so if we go BK i'm not going to be happy, but i wont be surprised, either.
    You are not surprised if they declare BK ? Why ? If Mel is good business man and he knows Radio I would be highly surprised if they declared BK.

  9. #9
    imromo24 is offline
    Guru
    imromo24's Avatar
    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    I think Mel is one of those great "liars" that can back up every one of his statements with reasoning, essentially convincing himself that what was said in the past is no indication of what he has to do in the present to move forward.

    in other words, "I didn't know then what I know now"

    I think there is an order that Mel will protect, and like was stated on another (controversial) post. The shareholders are on the front line, the company is the Fort, and Mel is the King. But also like it has been stated, Mel holds shares.

  10. #10
    nisvan is offline
    mel's been selling advertising since his teens;
    this is his first company where he is ceo;
    he quit viacom because he wasn't going to be given the chance there;
    he is known for his persistence and tenacity;
    he has been in radio over 40 years;
    what is siri but radio on an orbital scale? it's a radioman's dream.
    he works hard, and is affable at the same time.
    the man does not know failure well; he's not
    known to be inapproachable, nor conceited, nor close-minded;
    what is siri but a major example of thinking outside the box?
    to file bk would in most minds, be, to fail; definitely inside box kind of thinking
    mel i believe understands, that in this age of etrade,
    ameritrade, scotttrade, and so forth, and given the
    incredible recognition that siriusxm has generated, that this
    may be the first "poor man's stock" to be widely owned
    by the american public, of this new internet influenced century;
    iow - 8 million shareholders, or thereabouts, have a bit of their
    hard earned fortunes on the line here; i don't think the man is
    about to shirk his responsibilities so easily; he also put his money
    where his mouth is by buying a ton of shares; i don't know him, never met him, but from everything i've seen and read about him, he's got my trust
    and confidence; i don't view the share price to date as necessarily his
    fault; conducting revolutions (downing the NAB) is never easy you know;
    at the start of the revolutionary war washington was fleeing for his life;
    hiding out in jersey and valley forge; but he never quit, never surrendered;
    i like to think mel is in a similar situation, and a man of similar calibre;
    that's why i didn't sell when it was going down, and not selling now, even on the eve of a supposed bky; if it goes down, then i'm wrong, and my judgment's bad and so forth; but i'm just having a hard time seeing things negatively right now, given everything that's come down; i'm keeping the faith, you could say. i have reasons for it, and it can't all be explained just by numbers. i'm an old ham radio buff; what's siri's done is breathtaking, still is, from a pure radio standpoint; i'm hangin in there and my dollar says most shareholders have been doing the same, because for the most part, they believe in the company, and they trust the man who's been in charge.

  11. Ad Fairy Senior Member
Page 1 of 5 123 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •