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  1. Seamless82 is offline
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    Joined: Jun 2008 Location: God's Country --- Up North Posts: 57
    10-13-2008, 11:18 PM #21
    Wow... I am fascinated. Sirius merely has to trim some fat and show renewed signs of growth, and its stock will rebound nicely. Given the financing is resolved. All of which is likely, IMHO.


    Stinking traders.

  2. imromo24 is offline
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    Joined: Aug 2008 Location: Steeler Town, MI Posts: 2,524
    10-14-2008, 07:41 AM #22

    Mel today, what time?

    What time does Mel go on today?

    The only time I sold SIRI was to use the money to buy XM (which turns out everyone should have done) because the 4.6 conversion made me extra shares. Other than that I have tried to time the bottom to buy more shares and average down.

  3. imromo24 is offline
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    10-14-2008, 09:21 AM #23
    Mel at 9:35.

    and premarket is up

  4. Demian is offline
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    10-14-2008, 09:40 AM #24
    How does one find out what he is saying? No link on Sirius website or the conference website?

    http://www.mediaandmoneyconference.com/

  5. Demian is offline
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    10-14-2008, 09:58 AM #25
    SIRI spiked to .57 at the open, gap now filled after hitting .53. Might hit .51 to "really" close the gap. It's funny how SIRI leaves big gaps on the way down, but always fills them on the way up?

    There is a report that a bunch of XM employees are getting canned....

    http://www.orbitcast.com/archives/re...-tomorrow.html

  6. Demian is offline
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    10-14-2008, 10:40 AM #26
    Mel's comments from the conference.......

    DJ Sirius CEO Sees 2009 Rev Up $300M-$400M Despite Auto Woes

    . Ê By Nat Worden Ê Of DOW JONES NEWSWIRES
    Ê Sirius-XM Radio Inc. (SIRI) Chief Executive Mel Karmazin said Tuesday that U.S. auto sales will drive $300 million to $400 million in revenue gains for satellite radio next year even if Detroit has an awful year. Ê Karmazin noted that half the vehicles manufactured in the U.S. in 2009 will have satellite radio installed. If current trends hold steady, he said, roughly half of the buyers for those vehicles will become paying subscribers for XM-Sirius. Ê "We'll add hundreds of millions of dollars in revenue even if the auto industry sells only 12 million cars, and that's less than people are expecting even in today's climate," said Karmazin. Ê The remarks came at a media industry conference in New York, where Karmazin also said he's confident that XM-Sirius will be able to refinance roughly $1 billion in debt that comes due next year despite the financial crisis that's weighing heavily on credit markets. Ê "I wish the debt market wasn't what it was," said Karmazin. "It's very challenging, but we've been talking to our debt holders and I'm confident we'll be able to work something out." Ê -By Nat Worden, Dow Jones Newswires; 201-938-5216; nathanial.worden@dowjones.com


    Ê (END) Dow Jones NewswiresÊ October 14, 2008 10:30 ET (14:30 GMT)Ê Copyright (c) 2008 Dow Jones & Company, Inc.- - 10 30 AM EDT 10-14-08

  7. Demian is offline
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    10-14-2008, 11:06 AM #27
    This is really good news,,,,,,

    Half of the conservative 12 mill. car sales = 6 mill.

    50% of 6 mill. is 3 mill.....

    3 mill. x $120 a year = $360 million extra revenue per year.

    Doesn't include "best of" upgrades, additional family plan radios, navigation service, backseat tv, or any retail sales....

    How about additional ad revenue from the growing subscriber base?

  8. Demian is offline
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    10-14-2008, 11:42 AM #28
    - Oct 14 (Reuters) - Sirius XM Radio Inc:

    * CEO Mel Karmazin, speaking at the Dow Jones Media and Money conference in New York, said he is "confident" in the company's ability to refinance its
    debt.

    ((New York Equities Desk; tel: +1 646 223 6000))

    Varghese Joseph
    vj

    COPYRIGHT

    Copyright Thomson Financial News Limited 2007

  9. Demian is offline
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    10-14-2008, 12:00 PM #29
    @ Media & Money: Sirius XM’s Karmazin: Managing Debt, Stronger Balance Sheet—All In The Future
    By David Kaplan - Tue 14 Oct 2008 07:22 AM PST

    With over $2 billion in debt, the merged satellite radio company Sirius XM already had plenty of challenges before the credit markets tightened up these past few weeks. But CEO Mel Karmazin tried to steer things into the bright future instead of the darkening present. In a Q&A with Mediaweek’s Katy Bachman at the Dow Jones/Nielsen Media and Money Conference in New York, Karmazin pleaded for some time to get the company’s finances in order, as he boasted of Sirius XM’s (NSDQ: SIRI) strengths even in an economic downturn.

    -- The future is bright: Karmazin: The fact is that it will take satellite time to get to free cash flow; look how long it took cable. The equity in the company is worth $1 billion. On one hand, you have a company that has grown over a period of time. We’ve gone from $67 million to $2.4 billion in revenue by the end of the year. The companies that get rewarded today have a great balance sheet. That’s not us today, but that’s us in the future. As for the debt, Karmazin said: “We’re engaged in discussions [our lenders]. I believe we’ll be able to refinance it, even in this market.” More after the jump.

    -- Even if Detroit loses, we still win: We’re a subscription business. About 96 percent of our business comes from that. the largest driver is when you go out an buy a new car, every car company has committed to putting it. Next year, we’ll have 50 percent penetration. There are about 17 million new cars produced a year. That number will be 13 million next year. If there are only 12 million cars sold, no one as forecast that, but even if the worst happens, 6 million will leave the assembly line with satellite radio. And our surveys show that 50 percent of the people who are offered satellite with their new car, take it. That will get us to $300 million revenue growth even if Detroit has a very bad year. Even in a market where cars are not doing well, we can still feel successful.

    -- Content syndication: Sirius XM had talks about syndicating its content to terrestrial radio stations and networks. But Karmazin takes a dim view of these deals, noting that they tend to undercut Sirius XM’s existence as a subscription service. “Why would they pay $12.95? It’s because they can’t get it anywhere else. We have 65 commercial free music channels. If you want to listen to something on terrestrial radio, you have to pay by listening to commercials. Our model is different. It would also hurt the brand to produce content that would have to conform to FCC standards. I will honor some agreements we have made. But I wouldn’t go out of my way to do more syndication deals.”

    http://www.paidcontent.org/entry/419...ance-sheet-al/

  10. imromo24 is offline
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    10-14-2008, 12:01 PM #30
    Once this debt is a non issue we won't have to talk about it anymore!

    Patience I suppose....

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