If you do not like drama then stop reading now. As much as it pains me to write this, I will be needing to set the record straight on an important issue regarding Sirius XM Satellite Radio, the potential of a share buyback, and the Liberty stake in the company.
Over the past two weeks, two satellite radio websites have gone out of their to slam me on an article I wrote outlining the situation between Sirius XM and Liberty and what would transpire with a share buyback. Unprofessional behavior, and opinions shot from the hip seemed to rule the day, and while I made every effort to take the high road, I have been finally dragged into the mud.
Over the next week I will outline the REAL FACTS about the share buyback issue and outline the unprofessional behavior that led to this issue being debated. I will outline the SEC filings, the comments of professionals in SEC law, and paraphrase the conversations I had with the companies on the subject.
Steve Garcia, "Chief Operating Officer" and Publishing Editor of King Of All Trades stated, " Someone will have egg on their face and I don't have any napkins" Well the King of All Trades "Corporate Officers" may want to stop by Sam's Club and buy the bulk package of napkins, because dozens of eggs are about to fly.
I know people just all want to get along, but the behind the scenes slam-fest and unprofessional behavior has gone too far, and satellite radio investors are not getting the full story and scope of what will happen in a Liberty buyback. This is an important issue, and investors need correct information, not jaded opinions disguised as facts of how non-experts interpret SEC filings.
I hate drama as much as anyone, but the real facts need to be known and understood. If it takes bringing this to a head in public, than so be it.