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Thread: SIRIUS Weekly Thread Week of 02-08-2010

  1. #1
    proactiv is offline
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    SIRIUS Weekly Thread Week of 02-08-2010

    You may have seen this already, but here's the news on the Jan 29 SEC approval to extend compliance periods for companies like SIRI..

    Let's break $1 this week!


    It appears that Sirius XM Radio (Nasdaq: SIRI) CEO Mel Karmazin has pulled off another deal of the decade, and Sirius XM will not be required to execute its shareholder approved reverse split.

    Satwaves has learned that the Securities and Exchange Commission on January 29, 2010 has approved a Nasdaq motion to extend compliance periods for listed companies that fall below its minimum bid standard, up to 360 days beyond the initial 180 day notice. The newly adopted regulation now provides a maximum 18 month period for select companies to regain compliance.

    On August 17, 2009, The NASDAQ Stock Market LLC filed with the Securities and Exchange Commission, pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder, a proposed rule change to modify the length of certain compliance periods in Nasdaq’s continued listing requirements and to modify the time available for a company to provide a plan to regain compliance with certain listing requirements. The proposed rule change was published for comment in the Federal Register on September 8, 2009. The Commission received three comment letters on the proposal. On December 28, 2009 the Exchange filed a response to the comment letter. This order approves the proposed rule change.

    The new rules completely overhaul the compliance listing standards and review, giving broad discretion to the Nasdaq in approving a company’s plan to regain compliance.

    A company could only receive an extension up to this 18-month maximum length if: After reviewing the company’s compliance plan, Nasdaq staff granted the company the maximum 180-day period to regain compliance; the company failed to comply within the time allowed by staff and appealed to a Hearings Panel; and the Nasdaq Listing Council determined to call the matter for review, stay the company’s delisting, and, after reviewing the company’s compliance plan, provide the company with the maximum 360-day period from the date of the Staff Delisting Determination to regain compliance.

    Sirius XM Radio CEO Mel Karmazin had stated that he was working closely with the Nasdaq and SEC to argue for a market cap exemption, and the new rules are certainly favorable to companies like Sirius XM Radio, which remains one of the Nasdaq’s most valuable properties. Although certain formalities must now be performed, the new rules will likely extend Sirius XM’s listing under the Nasdaq global markets until at least March of 2011. It is even more likely, that given the extra time the new rules allow, that the share price of Sirius XM Radio common stock will remove any delisting threat long before the potentially extended deadline.

  2. #2
    SiriuslyLong is offline
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    Great news indeed. The pressure is off; though I for one wanted the RS to take some shares off the market, magnify EPS and become more appealing for institutional buying - all three of which are needed.

    No word on the CC yet. I'm sure we'll here soon enough now that this issue is clear.

  3. #3
    Sirius Roadkill is offline
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    Patting Myself on the Back Today

    . . . a post I made on December 1, 2009:

    http://siriusbuzz.com/forum/showthre...7091#post57091

    I thank you!

    SRK

  4. #4
    Sirius Roadkill is offline
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    Quote Originally Posted by SiriuslyLong View Post
    Great news indeed. The pressure is off; though I for one wanted the RS to take some shares off the market, magnify EPS and become more appealing for institutional buying - all three of which are needed.

    No word on the CC yet. I'm sure we'll here soon enough now that this issue is clear.
    Well said . . . and one more thing SL . . . one very-very important thing:

    MARGIN

    To those lurking but not posting . . .

    ask yourself this question . . . if you had to buy your home today without a mortgage . . . how much could you afford to pay . . . assume no financing of any kind available . . . just 100% cash-equity . . . how much could you afford?

  5. #5
    candleman is offline
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    Quote Originally Posted by Sirius Roadkill View Post
    . . . a post I made on December 1, 2009:

    http://siriusbuzz.com/forum/showthre...7091#post57091

    I thank you!

    SRK
    Nice call RoadKill, you are just so much smarter than you look!

  6. #6
    vaporgold is offline
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    Quote Originally Posted by Sirius Roadkill View Post
    . . . a post I made on December 1, 2009:

    http://siriusbuzz.com/forum/showthre...7091#post57091

    I thank you!

    SRK
    SRK...

    Good Call...now the rs bs can be sat aside. I do belive all the crises are finally over and the mangement team of Sirius and Liberty just have to perform which it looks like they are doing. Just good news which will move the pps in time.
    imho
    vaporgold

  7. #7
    proactiv is offline
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    Quote Originally Posted by Sirius Roadkill View Post
    . . . a post I made on December 1, 2009:

    http://siriusbuzz.com/forum/showthre...7091#post57091

    I thank you!

    SRK
    You called it, SR!

  8. #8
    SiriuslyLong is offline
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    Quote Originally Posted by Sirius Roadkill View Post
    . . . a post I made on December 1, 2009:

    http://siriusbuzz.com/forum/showthre...7091#post57091

    I thank you!

    SRK
    Look at you! Name change required - I propose "Sirius Oracle".

    No one is talking about how much the main stream Media is talking about Howard and SIRI. This is Howard's greatest PR stunt ever. Reserve that name change SRK, I may want it myself LOL

  9. #9
    Sirius Roadkill is offline
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    Quote Originally Posted by SiriuslyLong View Post
    No one is talking about how much the main stream Media is talking about Howard and SIRI. This is Howard's greatest PR stunt ever.
    Very perceptive, very perceptive in-deed SL!

    A few weeks back I had the exact same conversation with Julietoo; we were discussing the potential impact of Stern leaving and whether or not he would re-up with Siri . . .

    My thought then, as it is now . . . and setting aside whether he stays or goes and whatever impact that has . . . is that if I am management, I really put the screws to Stern for the next 10 months . . . make him do a slow burn, twist in the wind and come-in to work everyday pissed-off at the world; even make him a couple of low-ball offers or no offers at all and blame it on the BOD (the ole good-cop/bad-cop).

    Let him rant and rave every single day for the next 10 months at what a rotten company it is and how he's fielding all of these great offers from terrestrial and TV, how he's going podcast etc, etc, etc . . . if that's what it takes to light a fire under his ass and get some MSM PR then so be it . . .

    and in the end . . . of course you give him what he wants to stay . . . but not til the last possible second . . . milk-it Mel, milk-it!

    now as for Tyler Savery . . . I have no idea what to do to light a fire under that guy's ass! His equity-research-content has become so friggin high-brow exclusive, much like Mark Wienkes, that you would think he's publishing his commentaries in Antarctica!

    The poor common man in the forums never even hears from the guy anymore . .
    Last edited by Sirius Roadkill; 02-09-2010 at 04:47 PM.

  10. #10
    Sirius Roadkill is offline
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    Quote Originally Posted by SiriuslyLong View Post
    Look at you! Name change required - I propose "Sirius Oracle".
    Thank you SL, Vapor, Chuck, Proact . . . it is oft said:

    "In the land of the blind, the one-eyed men are kings!"

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