SIRI Intraday: Wednesday April 29th

[underway]

this is huge news if u ask me, barack doing an exclusing audio tape for sirius. ****ing love you barack, HAIL TO THE MOTHER****ING CHIEF

Nah...Obama didn't produce anything exclusive for Sirius. Sirius is using his public speeches in an 'exclusive documentary', meaning Sirius created the piece they are broadcasting... a compilation of speeches with commentary by Sirius reporters, talent.

The more I think about it.....so what? I guess s-xm figures they may entice some new subs from the 'super Obama groupies' out there, and want to capitalize on his speech tonight. Doubt it will bring in much revenue though. No big deal.

[trippingthespeculatingpos]

o well, it cant hurt. I think it could interest those hardcore obama followers.

[underway]

o well, it cant hurt. I think it could interest those hardcore obama followers.

agree....can't hurt at all.

[imromo24]

woo hoo, green, told ya it would be a good day...

[imromo24]

I was buying and selling on the dips and spikes all day today...cost me $70 in commisions but i picked up an extra 35 shares.... sweet








jk

[trippingthespeculatingpos]

SIRIUS XM Adopts Stockholder Rights Plan
Last update: 4/29/2009 4:42:00 PM
--Rights Plan is Designed to Preserve Tax Benefits of Net Operating Losses
NEW YORK, April 29, 2009 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS XM Radio (SIRI) today announced that its Board of Directors has adopted a stockholder rights plan to preserve the value of significant tax assets associated with the company's tax net operating loss carryforwards under Section 382 of the Internal Revenue Code.
Under the rights plan, one right will be distributed for each share of common stock of SIRIUS XM outstanding as of the close of business on May 11, 2009. Pursuant to the rights plan, if any person or group (subject to certain exceptions specified in the rights plan) acquires 4.9% or more of the outstanding shares of common stock of SIRIUS XM (assuming for purposes of this calculation that all of the Company's preferred stock is converted into common stock), without the approval of the Board of Directors, a significant dilution in the voting and economic ownership of such person or group would occur. The rights plan may be terminated by the Board of Directors of SIRIUS XM at any time prior to the rights being triggered.
"Our net operating loss carryforwards are an important asset of the Company; an asset that we believe we should make every effort to protect. This rights plan protects the interests of all stockholders and preserves these substantial tax benefits for the Company," said Mel Karmazin, Chief Executive Officer of SIRIUS XM. "The rights plan is intended to enhance stockholder value; it has not been implemented for defensive or anti takeover purposes."
The rights plan will continue in effect until August 1, 2011, unless earlier terminated or redeemed by the Board of Directors of SIRIUS XM or certain other events occur. The Company plans to submit the rights plan to a stockholder vote by June 30, 2010, and if stockholders do not approve the rights plan by this date it will terminate.
Additional information regarding the rights plan will be filed by SIRIUS XM in a Current Report on Form 8-K with the Securities and Exchange Commission. Stockholders of record of SIRIUS XM as of May 11, 2009 will be mailed a summary of the rights plan.

[dmo2424]

SIRIUS XM Adopts Stockholder Rights Plan
Last update: 4/29/2009 4:42:00 PM
--Rights Plan is Designed to Preserve Tax Benefits of Net Operating Losses
NEW YORK, April 29, 2009 /PRNewswire-FirstCall via COMTEX/ -- SIRIUS XM Radio (SIRI) today announced that its Board of Directors has adopted a stockholder rights plan to preserve the value of significant tax assets associated with the company's tax net operating loss carryforwards under Section 382 of the Internal Revenue Code.
Under the rights plan, one right will be distributed for each share of common stock of SIRIUS XM outstanding as of the close of business on May 11, 2009. Pursuant to the rights plan, if any person or group (subject to certain exceptions specified in the rights plan) acquires 4.9% or more of the outstanding shares of common stock of SIRIUS XM (assuming for purposes of this calculation that all of the Company's preferred stock is converted into common stock), without the approval of the Board of Directors, a significant dilution in the voting and economic ownership of such person or group would occur. The rights plan may be terminated by the Board of Directors of SIRIUS XM at any time prior to the rights being triggered.
"Our net operating loss carryforwards are an important asset of the Company; an asset that we believe we should make every effort to protect. This rights plan protects the interests of all stockholders and preserves these substantial tax benefits for the Company," said Mel Karmazin, Chief Executive Officer of SIRIUS XM. "The rights plan is intended to enhance stockholder value; it has not been implemented for defensive or anti takeover purposes."
The rights plan will continue in effect until August 1, 2011, unless earlier terminated or redeemed by the Board of Directors of SIRIUS XM or certain other events occur. The Company plans to submit the rights plan to a stockholder vote by June 30, 2010, and if stockholders do not approve the rights plan by this date it will terminate.
Additional information regarding the rights plan will be filed by SIRIUS XM in a Current Report on Form 8-K with the Securities and Exchange Commission. Stockholders of record of SIRIUS XM as of May 11, 2009 will be mailed a summary of the rights plan.

Thanks but what does this mean?

[relmor2003]

Thanks but what does this mean?

Mean we get a share and a tax right for being current owners. New large block owners of 5% or more would be barred this. I suppose this makes the shares transferrable, but not the tax right? Or it does, unless one has more than 5%? HOMER!!!!!!!!!!!!!!!!!!!!!
Yes, Im whining....

[trippingthespeculatingpos]

this is the best reponse ive seen, taken from yahoo

"That is a very weird thing. Part of it is a poison pill, very normal, if someone tries to buy the company on the stock market, they can be stopped after they register a 5% ownership, by dilution with new stock.

The attachment of tax-loss-carryforwards to the stock is something I have never seen. The bottom line is that a loss can be booked, and has carryforward value. For example, I sold a bunch of stock at the end of 2008, and booked a loss of about $18,000. I can claim a $3000 loss for the next 6 years. I carry forward that tax loss. Each year that carried loss is going to get me about $1000 back on my taxes. So I have a weird kind of asset: my 2008 losses. Likewise Sirius has past losses, that are useful for containing future taxes. In the same weird way, the long loss book, is an asset to any company paying taxes.

The weird part is somehow, they are assigning that asset as a right, onto the stock shares. So after May 11th, your stock has a book value attached, where before May 11th, your stock owns a company with a loss carryforward aggregate book value contribution.

Presumably, this is another way to stop hostile takeovers. I wasn't aware of any hostile takeover aimed at Sirius, but perhaps there is something that Sirius is more aware of. Or it could just be preemptive.

This is half-baked analysis, and should be considered unreliable."

[FUNFUN99]

Corporate Social Responsibility | Business Wire | PR NewsWire | Marketwire

SIRIUS XM Adopts Stockholder Rights Plan
Posted : Wed, 29 Apr 2009 20:43:17 GMT
Author : SIRIUS XM Radio
Category : Press Release
News Alerts by Email ( click here )
News | Home








NEW YORK, April 29 NY-SIRIUS-XM-Rights

Rights Plan is Designed to Preserve Tax Benefits of Net Operating Losses

NEW YORK, April 29 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq: SIRI) today announced that its Board of Directors has adopted a stockholder rights plan to preserve the value of significant tax assets associated with the company's tax net operating loss carryforwards under Section 382 of the Internal Revenue Code.

Under the rights plan, one right will be distributed for each share of common stock of SIRIUS XM outstanding as of the close of business on May 11, 2009. Pursuant to the rights plan, if any person or group (subject to certain exceptions specified in the rights plan) acquires 4.9% or more of the outstanding shares of common stock of SIRIUS XM (assuming for purposes of this calculation that all of the Company's preferred stock is converted into common stock), without the approval of the Board of Directors, a significant dilution in the voting and economic ownership of such person or group would occur. The rights plan may be terminated by the Board of Directors of SIRIUS XM at any time prior to the rights being triggered.

"Our net operating loss carryforwards are an important asset of the Company; an asset that we believe we should make every effort to protect. This rights plan protects the interests of all stockholders and preserves these substantial tax benefits for the Company," said Mel Karmazin, Chief Executive Officer of SIRIUS XM. "The rights plan is intended to enhance stockholder value; it has not been implemented for defensive or anti takeover purposes."

The rights plan will continue in effect until August 1, 2011, unless earlier terminated or redeemed by the Board of Directors of SIRIUS XM or certain other events occur. The Company plans to submit the rights plan to a stockholder vote by June 30, 2010, and if stockholders do not approve the rights plan by this date it will terminate.

Additional information regarding the rights plan will be filed by SIRIUS XM in a Current Report on Form 8-K with the Securities and Exchange Commission. Stockholders of record of SIRIUS XM as of May 11, 2009 will be mailed a summary of the rights plan.