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  1. SiriusHope is offline
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    03-31-2009, 12:16 PM #121
    Quote Originally Posted by Brandon Matthews View Post
    They seem to be punishing SIRI because of Government Motors (GM) soon to be filed BK. Am I the only one that sees this as ridiculous?
    NO..It's very ridiculous now especially as I see pps dropping like a rock towards .33

  2. exilejeff is offline
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    03-31-2009, 12:16 PM #122
    Quote Originally Posted by bananaz View Post
    Jeff, Did you ask your grandfather what he thinks?
    I know what he would say......he loves GM, has never bought a car other than GM, me and my dad joke about it.....if someone offered him a foreign car worth 200k for $1, he wouldn't take it

    they just bought a new GM car about 2 months ago, and he keeps trying to get me to sell my 4runner to get a GM

    he was born in 1908, and i think he still hates the japanese for pearl harbor, but he is always making comments about japanese cars

    he would say that the company isn't going anywhere and might even say they aren't going to go into bankruptcy.....but he hasn't really done research other than what he sees on msnbc, cnn, 60 minutes, and reads in the WSJ

  3. Sundevil is offline
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    03-31-2009, 12:17 PM #123
    So...If GM does file BK, are there certain agreements, contracts, liabilities with SIRI that will be wiped clean during the reorg? I can see the Govt putting other vendors ahead of SIRI in the food chain.

  4. Brandon Matthews is offline
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    03-31-2009, 12:18 PM #124
    Quote Originally Posted by exilejeff View Post
    Indeed thats what i have been thinking, problem is......my 101 yr old grandfather gave them to me (he is still alive and reads the wallstreet journal everyday, just doesn't feel like keeping track of the stocks anymore lol).....they are actual stock certificates, so i would have to sign them over and mail them to the brokerage account first i am guessing, who knows how long that takes
    You can walk into any brokerage office such as Merrill Lynch and open an account with them immediately.

  5. Brandon Matthews is offline
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    03-31-2009, 12:22 PM #125
    Quote Originally Posted by Sundevil View Post
    So...If GM does file BK, are there certain agreements, contracts, liabilities with SIRI that will be wiped clean during the reorg? I can see the Govt putting other vendors ahead of SIRI in the food chain.
    Sirius XM pays GM. GM pays Sirius NOTHING! Suppliers have been guaranteed payment by the government.

    Most contracts have an ipso facto clause which basically voids contracts in the event of oe party filing bk. Apparently however, that is not enforceable.

  6. dmo2424 is offline
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    03-31-2009, 12:27 PM #126
    Quote Originally Posted by Brandon Matthews View Post
    They seem to be punishing SIRI because of Government Motors (GM) soon to be filed BK. Am I the only one that sees this as ridiculous?
    MM's play off of fear and greed, right? ANY fear or greed. And STUPID mypioc fearful weak longs sell right into their manipulation... LONG AND STRONG is my motto but I just don't get how so many people can be that stupid to fall for the manipulation and fear mongering. Not from this site of course...!

  7. exilejeff is offline
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    03-31-2009, 12:27 PM #127
    Quote Originally Posted by Brandon Matthews View Post
    You can walk into any brokerage office such as Merrill Lynch and open an account with them immediately.
    I work at ML, wonder if they will give me a deal on it lol!
    so that would be the fastest way to get rid of the shares......but i still don't understand why the certificates would be worth more.....especially if you think they will go into BK

  8. Sundevil is offline
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    03-31-2009, 12:28 PM #128
    Quote Originally Posted by Brandon Matthews View Post
    Sirius XM pays GM. GM pays Sirius NOTHING! Suppliers have been guaranteed payment by the government.

    Most contracts have an ipso facto clause which basically voids contracts in the event of oe party filing bk. Apparently however, that is not enforceable.
    I thought I recalled that GM pays SIRI for the subscriptions once the cars are sold..(at a discounted rate). If this is the case, I would imagine that this is not a unit by unit payment, but more so a quarterly or annual payment? That could be dropped out after BK.

    Am I off my rocker on this?

  9. Brandon Matthews is offline
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    03-31-2009, 12:31 PM #129
    Quote Originally Posted by exilejeff View Post
    I work at ML, wonder if they will give me a deal on it lol!
    so that would be the fastest way to get rid of the shares......but i still don't understand why the certificates would be worth more.....especially if you think they will go into BK
    The cert's are not worth more. They are worth what each share is worth. I'm only suggesting that as far as the brokerage biz is concerned, they are as good, actually better than, CASH. You can fund an account immediately with them and then sell them, even if you sold them short today, and the transaction would complete after T +3. Your short position would be covered with the shares.

  10. bananaz is offline
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    03-31-2009, 12:32 PM #130
    Quote Originally Posted by exilejeff View Post
    I know what he would say......he loves GM, has never bought a car other than GM, me and my dad joke about it.....if someone offered him a foreign car worth 200k for $1, he wouldn't take it

    they just bought a new GM car about 2 months ago, and he keeps trying to get me to sell my 4runner to get a GM

    he was born in 1908, and i think he still hates the japanese for pearl harbor, but he is always making comments about japanese cars

    he would say that the company isn't going anywhere and might even say they aren't going to go into bankruptcy.....but he hasn't really done research other than what he sees on msnbc, cnn, 60 minutes, and reads in the WSJ

    I understand. It is kind of like me promising my father before he died, that I wouldn't ever fire my (lazy, worthless) brother. There's a moral obligation.

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