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good article by Spencer (the artist formerly known as Tyler) today:
"Sirius XM contends that they do not owe Stern any bonuses above and beyond what they have already paid. The company is seeking Summary Judgement. The company offered up several documents including a statement of facts that outlined some interesting things. One of those items of interest is that only 9% of XM’s subscribers (about 1 million) subscribed to “The Best of Sirius”. The other 9 million had no access to the Howard Stern show."
http://siriusbuzz.com/a-deeper-look-...t.php#comments
Last edited by Sirius Roadkill; 05-26-2011 at 04:10 PM.
"Mel is the driving force behind Sirius XM’s position that Howard is owed no additional compensation. Even more of a shocker, they claim Karmazin was never happy with the original Stern/Sirius- $80 million a year in cash and $20 million in stock to program two channels starting in 2006 as well as bounties if Sirius’ subscriptions passed certain milestones -- negotiated before Mel arrived."
http://www.deadline.com/2011/05/howa...mazin-its-war/
Date Open High Low Close Volume
May 27, 2011 2.36 2.38 2.35 2.37 40,391,927
May 26, 2011 2.35 2.39 2.31 2.34 77,065,594
May 25, 2011 2.29 2.42 2.28 2.32 173,074,137
May 24, 2011 2.24 2.29 2.20 2.27 127,097,199
May 23, 2011 2.20 2.25 2.19 2.20 77,491,019
May 20, 2011 2.25 2.26 2.20 2.22 55,241,917
May 19, 2011 2.21 2.25 2.19 2.23 80,528,301
May 18, 2011 2.13 2.20 2.12 2.18 74,625,009
May 17, 2011 2.20 2.21 2.07 2.14 125,370,700
target is to add 15-16K shares . . . $2.06 gets 16K, $2.20 gets 15K
probably settle for $2.13-$2.15 range
volume will be my guide - June 15-17 might present opportunity
http://www.cboe.com/AboutCBOE/xcal2011.pdf
any thoughts?
Sell in May and go-away?
or is the long-side trade here to stay?