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Thread: Friday 1.18.13 Give me Liberty......

  1. #21
    siriusly_invested is offline
    Quote Originally Posted by denco1 View Post
    Skimmed it right before the Bell. Lots of speculation. Opened up more questions than answers. Not sure what to make of it but will re read it later today.
    Talk about speculation, something sure caused a run on Worldspace stock this morning...........up 92%............. looks like it topped at 2 cents, and has now fallen to 1.5................. If I read the charts right, it's been hanging out around .008 for a long time.........check out WRSPQ if you want to follow it (or speculate in it................. heck 50K shares at a penny costs only $500).

  2. #22
    MLSiri is offline
    A mere mention of something/someone by itself doesn't normally elicit an emotional response unless there is someting more to the story. As long as it's respectful and objective, then folks should be able to post, as has been done over the several years I've been here, stuff from other sources without inciting the emotional outbursts that have plagued other sites.

    Charles has done a great job of maintaining the civility of this site, and I hope it continues to be a place we can share diverse insights and opinions without fear of attack, retribution or reprisal. Just my two cents.

  3. #23
    radejs is offline
    Senior Member
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    Joined: Dec 2012 Posts: 390
    Quote Originally Posted by yoda4x4 View Post
    If you wish to read his articles that's fine, just don't publicize it. I think it's fair to say that a number of us came to this site to get away from his nonsense. SB is an awesome site that doesn't need that loser's name mentioned here. Thanks!

    David

    Its information, I agree it is not very useful (this article anyway) but at some point it may be useful info and a source of news that can and should be noted/quoted from time to time. Many of us are quite aware of the "issues" over "there" and take it all with a grain of salt.

  4. #24
    radejs is offline
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    Joined: Dec 2012 Posts: 390
    Quote Originally Posted by siriusly_invested View Post
    Talk about speculation, something sure caused a run on Worldspace stock this morning...........up 92%............. looks like it topped at 2 cents, and has now fallen to 1.5................. If I read the charts right, it's been hanging out around .008 for a long time.........check out WRSPQ if you want to follow it (or speculate in it................. heck 50K shares at a penny costs only $500).
    With such a small float/volume, the mere few of "us" buying can drive it up like so but our selling can drop it as well, a mini-pump and dump I fear. Staying away myself, been burned before.

  5. #25
    denco1 is offline
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    Joined: Nov 2012 Location: Shortie's A$$ Posts: 1,571
    Quote Originally Posted by siriusly_invested View Post
    Talk about speculation, something sure caused a run on Worldspace stock this morning...........up 92%............. looks like it topped at 2 cents, and has now fallen to 1.5................. If I read the charts right, it's been hanging out around .008 for a long time.........check out WRSPQ if you want to follow it (or speculate in it................. heck 50K shares at a penny costs only $500).
    Quote Originally Posted by radejs View Post
    With such a small float/volume, the mere few of "us" buying can drive it up like so but our selling can drop it as well, a mini-pump and dump I fear. Staying away myself, been burned before.
    The $ so far changing hands today is less than 15K. Not a lot of interest. I have a buy in for 200k shares, or $2k worth just for the fun of it.

    EDIT: Kind of like buying a boat load of Lotto Quick Pics....
    Last edited by denco1; 01-18-2013 at 01:20 PM.

  6. #26
    siriusly_invested is offline
    Quote Originally Posted by radejs View Post
    With such a small float/volume, the mere few of "us" buying can drive it up like so but our selling can drop it as well, a mini-pump and dump I fear. Staying away myself, been burned before.
    I'm with you Rad.., I wasn't voicing an opinion that folks should jump at it, just pointing to the mere emotional influx caused simply by a passing publication.................... I too have had my share of pump and dumps (twice at least), and I do not care to try for number three.

  7. #27
    Spencer Osborne is offline
    Quote Originally Posted by siriusly_invested View Post
    Can someone please try to open my mind and eyes to the logic of how a buyback translates to Liberty getting their money back? I realize fewer shares in circulation drives up the sp. So, does that mean that after the price reaches a higher level then Liberty sells shares to recoup their investment? For some reason I'm just failing to see that picture............. but I'm certainly in favor of the price being driven up.
    Liberty is selling back shares in proportion with common bought back. In essence, there is a $2 billion buyback in the works. Liberty will get $1 billion and $1 billion will be used to buy shares from minority owners (you and I). Doing it this way keeps Liberty's percentage of ownership in tact

  8. #28
    brian65PLS is offline
    I had to LOL at "WorldSpace Inc WRSPQ:OTC Pink" moves today. BJM must be feeling powerful today. Goofy article if you ask me. No need to read it. I wonder what his sleep schedule is; given that it shows it was written around 5am this morning. If he had a good nights sleep and woke up early to write that article - it's sad.

  9. #29
    siriusly_invested is offline
    Can someone please explain for me: Now that Liberty owns majority stake in SIRI, what is the implication on we share holders of SIRI if they should decide to divest us into their various other entities? Does that imply that we receive value for our shares or does our equity simply vanish? It would appear that one way to stay invested in SIRI (or with our disolved shares if that is what they become) is to place our money in Liberty (someone said that would now be LMCAD) or others of their holdings such as XM Canada, etc.............. I do not see mass exidus to the door yet, so I presume there remains some incentive to retain holdings in SIRI............. I suppose that once the Institutions decide to get out it'll be too late to escape with much in hand. Is that a good assumption?

  10. #30
    Spencer Osborne is offline
    Quote Originally Posted by siriusly_invested View Post
    Can someone please explain for me: Now that Liberty owns majority stake in SIRI, what is the implication on we share holders of SIRI if they should decide to divest us into their various other entities? Does that imply that we receive value for our shares or does our equity simply vanish? It would appear that one way to stay invested in SIRI (or with our disolved shares if that is what they become) is to place our money in Liberty (someone said that would now be LMCAD) or others of their holdings such as XM Canada, etc.............. I do not see mass exidus to the door yet, so I presume there remains some incentive to retain holdings in SIRI............. I suppose that once the Institutions decide to get out it'll be too late to escape with much in hand. Is that a good assumption?
    There is likely plenty of time. I sold half of my SIRI last spring and invested it into Liberty. Liberty just did a spin from Starz, so I wound up with a bunch of STARZA shares. I sold those the day of the spin and still hold Liberty (LMCAD).

    There is no guarantee about how Liberty may act, but we do know that Liberty has stated that it wants to get back the $1.7 billion it invested into buying common shares to go above 50%. Liberty will get about $1 billion in the already announced share buy-back of $2 billion. That means that Liberty will still have about $700 million in high basis shares that it will want to extract. That means that another buyback of about $1.4 billion will need to happen. That could be 18 months to 2 years away.

    After Liberty extracts that money it will likely want to do a Reverse Morris Trust (RMT). This gives liberty a tax friendly way to realize the huge gains on the original 40% that it got for a meager $12,500. Right now those gains are about $7 billion.

    In order to do an RMT Liberty will need to merge a bigger company into the smaller SIRI. With the Liberty stake over 50% this can happen. In an RMT the Liberty shareholders would get shares of SIRI and the company would once again be a company without a major shareholder.

    My opinion is that Liberty will keep SIRI levered (in debt) at about 4 to 1 of EBITDA, having SIRI borrow money if necessary to buy back shares.

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