SIRI Intraday Updates for the Week of 1/12/09

[SiriusXMInvestor]

Have you heard these tapes or actually seen any of the evidence?

Umm, No. the person bringing the lawsuit has the responsibility of the burden of proof. Circumstantial evidence alone will not convict anyone.


I go back to my original question: Have you actually seen any of the evidence that Hartlieb says that he has? How do you account for the possibility and/or reality that Michael has obtained illegal phone taps or myssteriously obtained copies of emails? Does this part not make YOU suspicious? As far as a countersuit, the company has absolutely nothing to gain by filing a countersuit. As much as this government does for large corperations, the one thing it does not give them is any way of collecting a judgement against an individual citizen. They can countersue Hartlieb and win a judgement for 3.2 billion dollars (would be great, could pay off all debt!), but the government does not give them any guarentee of payment or any actual way of collecting a payment. They cannot garnish wages, seize accounts, or anything. NOTHING. A countersuit would be nothing but a front that would get them nothing but waste money.


This is one of my favorite lines in the post.

Hello, my name is Newman from SiriusBuzz.com. I would like to speak with Leon Black about his illegal activities regarding stealing Sirius XM Radio from the investors in a secret plan to bankrupt the company.

"Mr Black is not here right now..."

It must be true!!

Sorry, but nobody is going to talk to Hartlieb. He has already established himself as... shall we say... ecentric?

Newman,

I have provided you, below, with some info. Make the call and let us know your findings.



911 All shareholders need to contact Kurtzman Carson ASAP Do It!!
Written by Michael Hartleib
Sunday, 18 January 2009 04:15
Below is a list of members of Kurtzman Carson that read my initial e-mail response on 12/23/08. This e-mail is also an attempt to memorialize the correspondence between myself, SaveSirius.org and the Kurtzman Carson firm. Also, please note, the firm is located mere steps away from Sirius Headquarters on Avenue of the Americas. I have not put anything on the website about this because I don't want to be accused of yelling "fire" in the theatre. But, people, things are on fire and you need to be aware. Again, I hope and pray they do not file bankruptcy and somehow can get out of this mess without the need of bankruptcy. Things are moving very fast, I do not have time to e-mail as often, please understand that things are at a more frenzied pace then ever, so in order to stay updated, you need to use the forums as the new website works perfectly. Those of you that don't want to fill out a request to the firm that I suggested......don't. I'm only trying to help and give you the information you need to be fully informed.


Peter Huh [ PHuh@kccllc.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it ] Cristina M. Terrasini [ CTerrasini@kccllc.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it ] James M. Le [ JLe@kccllc.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it ] Chris Schepper [ CSchepper@kccllc.com This e-mail address is being protected from spambots. You need JavaScript enabled to view it ]

Below is a disclosure by Herman that can be used by other members. Every shareholder needs to contact them ASAP. Do it in writing, but you can call Mr. Le on his cell number. I spoke to him on Dec. 23rd as well as two days ago the 15th (310) 795-8937 Thank You Herman!

Kurtzman Carson Put on Notice
savesirius readers: please review this Disclosure Request and, if in agreement, copy (or edit if desired) and forward to Kurtzman Carson Consultants, LLC at the link provided below. Time is of the essence if we are to obtain standing as an officially appointed equity committee. Let them know we are watching their every move!


Request for Disclosure http://www.kccllc.com

As an ad hoc committee of common shareholders in Sirius XM Radio, Inc. (NASDAQ: SIRI), we are writing to demand that you disclose in full what agreements, if any, have been reached with the management of Sirius XM Radio, Inc., including any written or verbal consulting agreements or preliminary drafts regarding preparation or prepackaging for the filing of a voluntary petition of bankruptcy protection under Chapter 11, Title 11 of the US Code.

As I am sure you are aware, the Board of Directors of a solvent corporation owes fiduciary duties to its shareholders including candor, loyalty and care. In retaining Kurtzman Carson Consultants, LLC, the Board of Directors of Sirius XM Radio, Inc. have effectively predetermined that the Company may not be able to pay its debts as they become due. As such, the Directors of Sirius XM Radio, Inc. have ceased being solely a fiduciary for the shareholders.

Inasmuch as Sirius XM Radio, Inc. may have already entered a "zone of insolvency," we are formally notifying you of our desire and intention to seek the appointment of an official equity committee. We assert that we are current shareholders with proper legal standing, with knowledge of the Company's current condition and are dissatisfied with Management's general intentions toward equity.

[Newman]

I have asked before with absolutely no response, but I will ask again.

What evidence is there that this firm is working with Sirius XM radio? Is it simply that they are located in the same building? (A building which, by the way, hundreds of other companies occupy as well)

As I have said, I keep an open mind. I did email all four of those email addresses asking a few questions. We will see if they answer me and what those answers are.

Micheal never mentions what type of conversation he had with Mr. Le. Did he actually talk with the guy? Did he leave a voice mail? Or what infrmation was actually given? I am curious if Mr Le actually gave him permission to give out his contact information.

[trippingthespeculatingpos]

can u ban this guy from the forums already? plz

[SiriusXMInvestor]

I have asked before with absolutely no response, but I will ask again.

What evidence is there that this firm is working with Sirius XM radio? Is it simply that they are located in the same building? (A building which, by the way, hundreds of other companies occupy as well)

As I have said, I keep an open mind. I did email all four of those email addresses asking a few questions. We will see if they answer me and what those answers are.

Micheal never mentions what type of conversation he had with Mr. Le. Did he actually talk with the guy? Did he leave a voice mail? Or what infrmation was actually given? I am curious if Mr Le actually gave him permission to give out his contact information.

Hartleib states he spoke with Mr. Lee on 12/23/08 and 1/15/09. I do not know what the conversation entailed. I am assuming that the conversation was about Mr. Lee's involvement with the alleged Pre-plan BK package. Thanks for sending the emails. The more people involved the better. We are just trying to hold those who have damaged shareholders accountable for their actions. If you are invested in this company, then you must take a proactive approach. Sitting back and criticizing those trying to get to the core does not help. Everyone here should be on the same page. We all have our monies invested in this company. Though some at different monetary levels. I believe we all have the same objective, either to break even or try to make a profit. Most of us have a much higher cost average than the newbies. If you sit back and look at how we are at these levels, you have to be shaken your head asking why and how. You have to go back to at least the night of the merger approval. That is when it fell apart. It was also before the market tanked or any bank or investment firm failed. Information was leaked. Was it intentional? Cramer had the information and blurted it on his show.

[Greenland]

What a ridiculous question. What makes you think these two scenarios are exclusive? Neither could happen or both could happen.

please explain

[Newman]

I'll grant you that the initial plumet was Mel and Co's fault, due to the "ugly financing". Credit markets had already started to dry up, even though the banks had not started failing. The sub-prime market was already crashing and banks knew they were going to get hit - and hit HARD.

Had Mel and Co not taken the ugly financing, there are some - many - that say this merger would have never happened because the money for it would not be there. I am in agreement with this group. Had the merge happened back in January of 08, we would be GOLDEN. It didnt, it happened in July 2008, and because of this, Mel had to take on ugly financing. If the merger would have been approved in September of 2008, we would still be two seperate companies because no money would be available to buy out the XM converts to prevent the change of control clause. My opinion.

So Sirius XM took on toxic financing and dropped the share price. But then, the credit markets crumbled. Lehman went BK and a number of other banks were bought out for pennies on the dollar. The economy took a great big dump. That has affected Sirius XM as well. The entire 90% drop is not attributable to toxic financing alone, and cannot be attributed simply to the managment. Apple has dropped 60%. Google had dropped something like 50%. All of these are huge companies that could buy Sirius XM with free cash on hand and not even bat an eye. So why are they down? Poor or inept managment? Of course not. With the exception of Steve Job's illness, there is no reason that any of these companies should be in the crapper. (Edit: Sorry, had to edit this when I realized what I said about Yahoo's managment not being inept. They are idiots, please forgive the analogy.)

Now, it is tough to compare Sirius XM to Google or Apple simply because of the metrics. That is why Google is not down 90%. Google is profitable, Sirius XM isnt. Google is debt free, Sirius XM isn't. So Google is profitable and debt free, yet they are still down 60%. Now can you see a reason that Sirius XM might possibly be down 90% WITHOUT your conspiracy theory?

Sirius XM is a great company with a great product with a great business model... Any other time in history, banks would be throwing money at them left and right, but right now in one of the biggest credit meltdowns of our lifetime, there is no money to be found. Unless you have over a 700 credit rating, most people cannot even get financed for a $50,000 vehicle. Sirius XM has to refinance just under $1 billion in debt. Times are very tough right now... but it is not all managment's fault.

As far as Cramer goes, that is a totally different animal all together. Perhaps it is Cramer and Co. who are killing this thing instead of Mel and co. Ever thought of that?

[Newman]

reverse split or bankruptcy ?

Reverse split does not save the company from bankruptcy. A reverse split is all a numbers game. You either have 100 shares at $1 each or you have 1 share worth $100. It does not help the company raise any money and has no affect on debt. Mel has sated that the reverse split issue is simply to be on the table in case they need to use it for NASDAQ listing requirements. The day after the RS was approved, Nasdaq again extended the listing requirement ban, meaning that Sirius really does not have to worry about delistment until March of 2010 at the earliest and only if the Nasdaq does not change it's rules again.

Bankruptcy is a whole different issue that is not tied to the reverse split at all. Your question was phrased as either or. There is no either or when it comes to RS and BK. One has absolutely nothing to do with the other. That is why winagain said that they could both happen or neither could happen. One has no affect on the other.

[SiriusXMInvestor]

I'll grant you that the initial plumet was Mel and Co's fault, due to the "ugly financing". Credit markets had already started to dry up, even though the banks had not started failing. The sub-prime market was already crashing and banks knew they were going to get hit - and hit HARD.

Had Mel and Co not taken the ugly financing, there are some - many - that say this merger would have never happened because the money for it would not be there. I am in agreement with this group. Had the merge happened back in January of 08, we would be GOLDEN. It didnt, it happened in July 2008, and because of this, Mel had to take on ugly financing. If the merger would have been approved in September of 2008, we would still be two seperate companies because no money would be available to buy out the XM converts to prevent the change of control clause. My opinion.

So Sirius XM took on toxic financing and dropped the share price. But then, the credit markets crumbled. Lehman went BK and a number of other banks were bought out for pennies on the dollar. The economy took a great big dump. That has affected Sirius XM as well. The entire 90% drop is not attributable to toxic financing alone, and cannot be attributed simply to the managment. Apple has dropped 60%. Google had dropped something like 50%. All of these are huge companies that could buy Sirius XM with free cash on hand and not even bat an eye. So why are they down? Poor or inept managment? Of course not. With the exception of Steve Job's illness, there is no reason that any of these companies should be in the crapper. (Edit: Sorry, had to edit this when I realized what I said about Yahoo's managment not being inept. They are idiots, please forgive the analogy.)

Now, it is tough to compare Sirius XM to Google or Apple simply because of the metrics. That is why Google is not down 90%. Google is profitable, Sirius XM isnt. Google is debt free, Sirius XM isn't. So Google is profitable and debt free, yet they are still down 60%. Now can you see a reason that Sirius XM might possibly be down 90% WITHOUT your conspiracy theory?

Sirius XM is a great company with a great product with a great business model... Any other time in history, banks would be throwing money at them left and right, but right now in one of the biggest credit meltdowns of our lifetime, there is no money to be found. Unless you have over a 700 credit rating, most people cannot even get financed for a $50,000 vehicle. Sirius XM has to refinance just under $1 billion in debt. Times are very tough right now... but it is not all managment's fault.

As far as Cramer goes, that is a totally different animal all together. Perhaps it is Cramer and Co. who are killing this thing instead of Mel and co. Ever thought of that?

Newman,

Below is an update from Hartleib.


Sirius XM a Criminal Enterprise RICO? – What will happen to Howard’s money?


As you know, there has been a relentless pursuit for the truth and why it is Sirius XM shareholders have lost approximately twenty billion dollars in shareholder equity from their highs and nearly six billion dollars since consummation of the merger that was sold to us as “in our best interest”. It’s quite obvious this has not been “in our best interest” (i.e. the shareholders) in any way. The fact is, Sirius and XM colluded and conspired to restrain free trade, violated Antitrust Laws and the Racketeering Influenced and Corrupt Organizations Act which I have been alleging for some time.


The first time my case was dismissed with Leave To Amend was due to procedural errors as since 1995 and the Private Securities Litigation Reform Act shareholder losses were no longer actionable damages under RICO. Therefore, it is not possible for an individual to sue directly under RICO for losses they have incurred in their equity holdings. This is the reason the case was converted to a derivative action which can and will move forward at the appropriate time. The reason the amended complaint was dismissed with Leave To Amend (which we still have twenty days on our continuance) was because Sirius was clever enough to seat seven of twelve new Board members on July 29, 2008, the day after the merger with XM was consummated, making all prior demands on the previous Board "moot" according to their counsel. This is the reason I and others issued formal letters of demand on the “new Board” demanding they take legal action against current and prior executives and Board members. This legal action is to include violations of anti-trust laws and RICO charges. If they do not take these actions in a number of days, demand will be deemed futile and the case will move forward. This time the case will move forward with extremely competent counsel able to compete on parity with Sirius XM’s high priced counsel.


Something nobody seems to mention. If Sirius XM and their executives are found guilty of civil racketeering, criminal charges would likely follow. Also, it should be noted that all of the monies used to facilitate the criminal enterprise would be subject to forfeiture and confiscation. I believe this means that the monies used by executives to maintain their Trump Tower Penthouse, purchase their vacation homes, etc would all be at risk. Where things get real interesting is what happens to the eight hundred million dollars that was paid to Howard Stern and his agent, Mr. Buchwald. You see, it doesn’t matter if Howard was aware of the criminal activities of the firm if the monies were generated from an ongoing criminal enterprise, they as well could be subject to forfeiture, probably something Howard, Oprah or other members of satellite radios' talent hasn’t thought of. This is not an attack on Howard as I am a fan of the show. Sometimes it becomes too much, but I am a fan nonetheless.

Also, as to the many bashers that I, or we at SaveSirius, have the ten cent share price speaks for itself. I/we refuse to be fleeced by Mr. Karmazin, Mr. Leon Black, Mr. Patrick Donnelly and others. They should be forewarned that there are people inside the company with access to information that will prove their criminal activities. There are those that are already fleeing a sinking ship and will attempt to save themselves at the expense of others. The very same thing is going on within the bowels of the Robbins Umeda (and formerly Fink) firm.

[trippingthespeculatingpos]

seriously this guy adds nothing to the convo except bs lies and conspiracy nonsense, why do you continue to allow him to post this complete bullshit. I remember you said newman that you had to back up your statements with facts. This guy is straight up lying through his teeth plz kick him out! kick him out! kick him out! kick him out! kick him out!
kick him out! kick him out! kick him out! kick him out! kick him out! kick him out!

[trippingthespeculatingpos]

if u care about sirius you will stop providing a forum for this guy to spread his bullshit scam's that do nothing but hurt sirius's image, thats all he's out to do is hurt sirius, and your sitting here letting him.