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Thread: Sirius April 2011 thread

  1. #11
    Sirius Roadkill is offline
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    Word Scramble

    Unscramble the following phrase:


    LETRY SOLVE DARECUNUT PISSLAYTL

  2. #12
    Havakasha is offline
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    Good morning SRK. Thanks for the condolences. I feel much better now that i know all about Muscles advantaged background.

  3. #13
    SiriuslyLong is offline
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  4. #14
    Havakasha is offline
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    Well i got the 2nd word LOVES. lol.

    still working on it. Not much time or concentration.

  5. #15
    Sirius Roadkill is offline
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    Help! This has me Totally Baffled

    I was reading through the Stern complaint again and am having a brain-cramp . . . here's what I can't figure out . . . the complaint alleges that Stern exceeded the internal targets by the required margin and is thus entitled to performance-based compensation for each of the five years of his contract:

    61. In each year of Stem's Agreement, Sirius exceeded its own internal
    estimates by more than 2 million subscribers. On January 9, 2007, Sirius paid One Twelve the
    performance-based stock award for the 2006 calendar year in the form of unrestricted Sirius
    common stock. It also paid Buchwald his consulting fee. But, with the exception of this initial
    payment, Sirius has failed to pay One Twelve or Buchwald the performance-based compensation
    due and owing to them under the Agreement.
    As indicated above, Stern was paid a performance-based stock award for 2006 but was not paid for any subsequent years, right?

    So then in early 2010, Stephen Fisher, CFO for Don Buchwald & Associates, apparently contacts Andrew Moss (I assume by phone or in-person as no dates or correspondence are cited), who the complaint refers to as the "Vice President of Finance for Sirius" (unsure why he's not referred to as VP of Finance for "Sirius XM"), asking about the performance based compensation for "2008 and 2009." There is no mention of 2007:

    63. In 2009, Sirius obtained financing in the form of an investment from
    Liberty Media and, by 2010, its financial situation appeared to have stabilized. In early 2010,
    Stephen Fisher, the Chief Financial Officer at Don Buchwald & Associates, Inc., asked Andrew
    Moss, Sirius's Vice President, Finance, about the performance-based compensation owed for
    2008 and 2009. In response, Moss alleged that no such compensation was due.
    So Moss tells Fisher to go pound salt, we're not fn paying ya . . . so Buchwald then has his lawyer fire-off a letter asking for an explanation as to why the performance-based compensation was not paid for either 2008 or 2009 . Again, there is no mention of 2007:

    64. On or about, March 4, 2010, Richard Basch, Executive Vice President,
    Legal and Administrative Affairs at Don Buchwald & Associates, Inc., wrote to Patrick
    Donnelly, Sirius's General Counsel, asking for an explanation as to why the performance-based
    compensation was not paid for either 2008 or 2009. Despite the parties' agreement and Sirius's
    own public pronouncements regarding its subscriber levels, Donnelly claimed that Sirius
    subscribers on the XM platform did not count towards the total number of Sirius subscribers.
    Donnelly tells him "get off my phone" and that brings us to where we are today.

    I have seen reported in other places that Sirius XM owes Stern and Buchwald for 2007 . . . yet, for some reason, Stern & Buchwald's minions make no inquiry about that specific year . . . what gives?
    Last edited by Sirius Roadkill; 04-01-2011 at 12:20 PM.

  6. #16
    Havakasha is offline
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    Teryl loves.......

  7. #17
    Sirius Roadkill is offline
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    Sirius XM class action lawsuit heading to trial

    Multiple class action lawsuits had been merged into what is now “Carl Blessing et al vs. Sirius XM Radio.” In all, the plaintiffs had sought to certify four classes seeking damages. The judge threw out the classes 1) seeking injunctive relief for everyone who had contracted with either satellite company for service, 2) claiming breach of contract and 3) claiming violation of various state consumer protection laws.

    However, Judge Baer did certify the class claiming damage under the federal antitrust laws. That class is “All persons or entities who reside in the United States and who contracted with Sirius Satellite Radio, Inc., XM Satellite Radio Holdings, Inc., Sirius XM Radio Inc. or their affiliated entities for the provision of satellite digital audio radio services who, during the relevant period of July 29, 2008 through the present: (1) paid the U.S. Music Royalty Fee; (2) own and activated additional radios (“multi-radio subscribers”) and paid the increased monthly charge of $8.99 per additional radio; or (3) did not pay to access the content available on the 32 bkps or 64 bkps connections on the Internet but are now paying the Internet access monthly charge of $2.99.”

    The plaintiffs claim monopoly price-gouging by Sirius XM in charges implemented since the two companies merged. The judge rejected the argument by Sirius XM that it was immune from the antitrust allegation because the Music Royalty Fee increase was approved by a regulatory agency, the FCC. He found that the FCC did not approve the rate increase, but rather got Sirius XM to agree to a one-year freeze on basic subscription rates following the merger, with the exception of adding the increase in the Music Royalty Fee. Besides, Judge Baer noted, the FCC had nothing to do with the other fees at issue.

    “Strange as it may seem, Sirius XM has itself taken the position that the FCC has no rate-making authority over its rates,” the judge noted in rejecting the argument that the lawsuit was barred because Sirius XM was a regulated entity.
    http://www.rbr.com/radio/sirius-xm-c...-to-trial.html

  8. #18
    SiriuslyLong is offline
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    Don't know SRK. Here is an article from Rolling Stone re: Stern Lawsuit

    http://www.rollingstone.com/culture/...wsuit-20110323

    He wants credit for the merger - plain and simple. He wants everyone to know he can move mountains - he is POWERFUL. I love the Seeking Alpha article I posted a couple days ago. We need more of them.

  9. #19
    Sirius Roadkill is offline
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    Quote Originally Posted by SiriuslyLong View Post
    Don't know SRK. Here is an article from Rolling Stone re: Stern Lawsuit

    http://www.rollingstone.com/culture/...wsuit-20110323

    He wants credit for the merger - plain and simple. He wants everyone to know he can move mountains - he is POWERFUL. I love the Seeking Alpha article I posted a couple days ago. We need more of them.
    What I don't get is why Buchwald isn't asking for the 2007 money when they call-up Moss or write a letter to Donnelly . . if it's me, I'm saying "where's my fn performance-based awards for 2007, 2008 and 2009?"

    No mention of 2007 in the complaint filing?

    Peculiar


    btw . . . Don Buchwald calls it a "Consulting Fee?"
    In New Jersey, we call it "Protection."


    watch and learn:
    http://www.youtube.com/watch?v=BxFQYw_MmAA
    Last edited by Sirius Roadkill; 04-01-2011 at 03:17 PM.

  10. #20
    SiriuslyLong is offline
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    Speaking of which

    http://www.fool.com/investing/genera...-to-hit-2.aspx

    The fool comes up with some ways to grow. There are still costs to cut. There are always costs to cut.

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