SIRI Intraday Thursday 07-09-09

[otone]

thx for the bd wishes Maybe next year's bd will be great

appreciate the feedback on the initial question. so .30-40c seems to be about fair "perceived" value for this stock at this point. So why all the drama that the price isn't up around .50-60c?

How much of what we are seeing lately is "manipulation" and do you think the fact that we have so many retail investors is a detriment to the overall share price? If there is manipulation going on, do you really think that the MMs would let this thing see 1.00+ for 10 days straight? What would it take by this company for the street to finally let it over 1.00. All opinions, I know :-)

[Siriusowner]

thx for the bd wishes Maybe next year's bd will be great

appreciate the feedback on the initial question. so .30-40c seems to be about fair "perceived" value for this stock at this point. So why all the drama that the price isn't up around .50-60c?

How much of what we are seeing lately is "manipulation" and do you think the fact that we have so many retail investors is a detriment to the overall share price? If there is manipulation going on, do you really think that the MMs would let this thing see 1.00+ for 10 days straight? What would it take by this company for the street to finally let it over 1.00. All opinions, I know :-)

Let me answer each question.

1.- How much is trading manipulation ? Get a NASDAQ level II account. Each time you see 100 to 500 blocks of shares being traded in one direction consecutevely is price manipulation. Even you can do it but you have to have plenty of capital and a reason to do it.

2.- Retail investors. I do not think they matter.

3.- Market Makers. Let me answer with another question: If the fundamentals stay the same, will you buy Sirius shares at $1.00 USD ? Why ?

4.- To get over $1.00 USD a mix of things have to happen: earnings need to improve steadly, even if they keep declaring losses, debt has to come down, they need to reduce costs, increased revenue (but most importantly with improved earnings) and the company needs to keep innovating, introducing new gadgets, software, better programing, etc ...
In other words, there needs to be a perception that the company fundamentals are improving.

ps: The company's pps is depressed not because of technical factors but because of the fundamentals.

[Siriusowner]

I know the overall feel and sentiment is that the sp will hit the .34-.35 range and I htink I would agree with that, but I am suprised at the sideways action here at .398- .4 range with the low volume. Normally the low volume of this stock equates to a downward sp so I'd have to say I am pleasantly suprised. Any thoughts regarding the volume??

Volume is lite. A support seems to be forming at this level, 0.39-0.40 which is a 50% retracement. We'll see if it holds. From experience, with such a lite volume it may not hold unless there's a surge.

[sxminvestor]

DETROIT – The path is now clear for General Motors Corp. to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.

On Thursday, a judge's order allowing GM to sell most of its assets to a new company went into effect, despite a last-minute appeal by plaintiffs in a product liability case.

GM spokeswoman Julie Gibson said U.S. Bankruptcy Judge Robert Gerber's order became effective at 12 p.m. EDT. GM lawyers are working on paperwork to close the sale as quickly as possible, after which GM would leave bankruptcy protection.

GM CEO Fritz Henderson will hold a news conference in Detroit Friday morning to explain executive cuts, management changes and the company's plan to make money by emphasizing quality and fuel economy. He will be joined by Edward Whitacre Jr., who will lead the board of GM.

Once the world's largest and most powerful automaker, the "new GM" will become government-owned, but leaner and greener, cleansed of debts and burdensome contracts that nearly dragged it into liquidation. But the new company faces tough international competition and the worst auto sales market in more than 25 years.

John Pottow, a University of Michigan Law School professor who specializes in bankruptcy, said opponents of the sale had little legal recourse to block it because their issues were shot down by higher courts in Chrysler's bankruptcy case.

"It's done," Pottow said. "I knew they were dead as soon as the Chrysler case was decided."

He expects GM to close the deal and emerge from bankruptcy on Thursday in 39 days, a record for a company its size, he said.

GM spokesman Tom Wilkinson said he could not give a time frame for when the sale will close.

After clearing bankruptcy court, the new GM will focus only on four core brands, Chevrolet, Cadillac, Buick and GMC. The company is in the process of selling Saturn, Saab, Hummer and its Adam Opel GmbH unit in Europe, and it will discontinue Pontiac by the end of the year.

GM would not have been able to clear bankruptcy court at such a high speed without help from its crosstown rival Chrysler Group LLC, which exited bankruptcy on June 10 after 42 days.

Pottow said Chrysler's case set favorable legal precedents in previously uncharted territory of bankruptcy law.

The U.S. government, which will wind up loaning GM up to $50 billion to save its roughly 88,000 U.S. jobs, also played a significant role through the Treasury Department's auto task force, Pottow said.

"It's amazing what you can do when you have a government task force convened to help your company," he said.

The government provided bankruptcy financing, and the task force served the role of management consultant, telling GM that its early restructuring plans were too rosy and demanding further cuts, he said.

The parts of the company not moving over to the new company will become part of "old GM," a collection of assets and liabilities that will be liquidated over the next few years and sold off to pay the company's various creditors including people with pending lawsuits.

The assets range from the expected things, such as closed plants and other facilities, to more quirky items including a golf course in New Jersey and a church in Indiana.

The government has pledged $1.18 billion to help fund the wind down.

[candleman]

We sure seem to be hovering right around that .40 area.

It feels good just not to lose 2 more cents today!

[Sirius Roadkill]

What would it take by this company for the street to finally let it over 1.00. All opinions, I know :-)

Faber: OH, MY GOD, FREE CASH FLOW POSITIVE. YOU KNOW HOW MANY TIMES I'VE BEEN ASKING YOU THIS QUESTION, WHEN ARE YOU GOING TO BE FREE CASH FLOW POSITIVE? SO ARE YOU ANSWERING IT OR NOT?

Karmazin: I'M ABSOLUTELY ANSWERING IT, AND WE WOULD HAVE BEEN FREE CASH FLOW POSITIVE AT SIRIUS, FOR SURE. IT WOULD HAVE TAKEN US LONGER, BUT ONCE THAT PAYMENT IS DONE IN '09, YOU SHOULD THINK ABOUT SIRIUS AND YOU SHOULD THINK ABOUT VALUING SIRIUS. YOU KNOW, WE CAN TALK ABOUT WHAT THE COMPANY COULD BE WORTH OR ISN'T WORTH, BUT WHEN YOU'RE GOING TO VALUE OUR COMPANY, YOU'RE GOING TO VALUE US ON FREE CASH FLOW, BECAUSE THAT'S WHAT WE'RE RUNNING THE COMPANY FOR. AND THIS COMPANY COMBINED IS A COMPANY THAT WOULD GENERATE A LOT OF FREE CASH FLOW, AND THAT FREE CASH FLOW IS GOING TO CONTINUE TO GROW.

http://www.cnbc.com/id/25978164//

[otone]

SR, yeah, and that is when he was conservatively saying auto sales would hit 14million.

I like this:
Faber: IT'S A VERY LOW PRICE. FORGET MARKET CAP. ARE YOU GOING TO DO A REVERSE SPLIT? IT'S EMBARRASSING TO LOOK AT SOMETHING WITH A ONE IN FRONT OF IT.

Karmazin: WELL, IT'S EMBARRASSING, AND I HOPE WE WON'T HAVE TO LOOK AT SOMETHING WITH A ONE IN FRONT OF IT FOR A LONG PERIOD OF TIME.

Guess he got his wish. Damn, I'd love to see something with a one in front.

[relmor2003]

Faber: OH, MY GOD, FREE CASH FLOW POSITIVE. YOU KNOW HOW MANY TIMES I'VE BEEN ASKING YOU THIS QUESTION, WHEN ARE YOU GOING TO BE FREE CASH FLOW POSITIVE? SO ARE YOU ANSWERING IT OR NOT?

Karmazin: I'M ABSOLUTELY ANSWERING IT, AND WE WOULD HAVE BEEN FREE CASH FLOW POSITIVE AT SIRIUS, FOR SURE. IT WOULD HAVE TAKEN US LONGER, BUT ONCE THAT PAYMENT IS DONE IN '09, YOU SHOULD THINK ABOUT SIRIUS AND YOU SHOULD THINK ABOUT VALUING SIRIUS. YOU KNOW, WE CAN TALK ABOUT WHAT THE COMPANY COULD BE WORTH OR ISN'T WORTH, BUT WHEN YOU'RE GOING TO VALUE OUR COMPANY, YOU'RE GOING TO VALUE US ON FREE CASH FLOW, BECAUSE THAT'S WHAT WE'RE RUNNING THE COMPANY FOR. AND THIS COMPANY COMBINED IS A COMPANY THAT WOULD GENERATE A LOT OF FREE CASH FLOW, AND THAT FREE CASH FLOW IS GOING TO CONTINUE TO GROW.

http://www.cnbc.com/id/25978164//

Faber is a prick. Way to tell him Mel. I dont know why everyone bashes Mel. I was on the Mel bashing kick, until they started opening there mouths, and just get a foot stuck in it. They have way too many enemies to be loose lipped. I now dont blame him. Mel will show us, not tell us. Patience. Hes correct. Revenue will only continue to grow. I will say this again...
7 NEW REVENUE STREAMS SINCE THE MERGER. Not bad at all. THey need all time to work together now, and get consumers to understand the value of the best of package, internet feed, used car sales to take effect, and a rebound in auto sales. Other revenue streams like advertising will also go up when the economy picks up as well. Adding new talent like Rosie, etc...
Im excited when I talk about this stuff, but the true effects I also realize wont be seen till Q3. So far away...

[relmor2003]

SR, yeah, and that is when he was conservatively saying auto sales would hit 14million.

I like this:
Faber: IT'S A VERY LOW PRICE. FORGET MARKET CAP. ARE YOU GOING TO DO A REVERSE SPLIT? IT'S EMBARRASSING TO LOOK AT SOMETHING WITH A ONE IN FRONT OF IT.

Karmazin: WELL, IT'S EMBARRASSING, AND I HOPE WE WON'T HAVE TO LOOK AT SOMETHING WITH A ONE IN FRONT OF IT FOR A LONG PERIOD OF TIME.

Guess he got his wish. Damn, I'd love to see something with a one in front.

Proof of the mans agenda by how he asks his questions. What a prick. If I were Mel, I would have embarrassed him right there. I would have said, well, your face is embarrassing, and we still have to look at that. Next question, but not from an asshole.

[bassmaster]

the traders at the waves have gotten real negative . you know what that means!! BUY BUY BUY!!!!!!!!!!!!!

hey rel, be tougher on bm , im starting to think your getting soft...calling for a reverse split is SUICIDE. you can count on one hand the successful ones. i liked his point about siri being ranked 140th , well its only a couple of hundred mill higher than todays aig. siri was worth well below aig when they did the RS.then he says we're on top of the short list cause we have 7bill shares outstanding. EXCUSE ME I DIDNT KNOW THE FACT WE HAD LENT 250MM shares for the 2014 bonds had nothing to do with us being at the top of the list.. and how convenient he gets so ultra neg AFTER he posts that he sold a position....LMFAO, WHAT A FKN JOKE.