It’s sort of funny. at least im not the only one getting shafted here.

the sad part is that sirius will survive, just as a company that was stolen from us shareholders who funded it.

mother fucking cock sucking Mel!!!!! I will fucking spit in his face if i ever see him on the street.

I hope he goes to prison.

fuck Mel and those bastards who stole this company from us….

XM was hemorrhaging cash, subscriber growth was nonexistent and they were losing money as a business.

They wasted millions on worthless advertising and programming like Oprah and STILL didn’t get anything to show for it.

XM simply would not have lasted through 2009 if the merger did come to pass.

Howard Stern going to Sirius was a death blow to XM.

Now Sirius is so leveraged bankruptcy is the only way out.

IMO..this is a ploy that has everyone in panic mode so a huge selloff could happen. I imagine that this is Mel’s way of trying to pressure the holders of all debt due. It might work.

I would think that all the institutional holders would have dumped as well and the AH trading volume would have been in the billions not just 12 million. It traded in last few days over 100 million shares on all the rumors.

No matter what I will hold my small investment of $12,000. (avg .59) and wait and see over the next few days what happens.

Really thinking that BK is not a reality…JUST A WISE THREAT to shake things up and shake out the scared holders. Mel will leverage this threat to get funding completed and F&@K all the NON-BELIEVERS!!! REMEMBER Mel loves to gloat and smurk. He wants to comeback as the hero of the year in such a big way…especially during a disasterous market. This will feed his ego even more and he can tell everyone …I told you so…don’t mess with Mel.

“Shyster” – that pretty much says it all! It makes you lose faith in the human race. To mel and all of his cronies, I have one simple question; why the utter contempt for the subscribers?

It was just a matter of time before their complete betrayal of the subs and shareholders would lead to this companies downfall. Unfortunately, it’s the little guys who get screwed the most. That’s the American way, isn’t it?

A few things really stand out in my mind:

1) Sirius likely has about 350 Million in cash on hand
2) Mel said he would handle 1 hurdle at a time (here’s # 1)
3) I can’t believe he would go down like this, this easy, this quiet after all he has said.
4) Ergen may bend a little & offer up an ok bid if he really believes Mel would file to keep his hands off the company.
5) This is not news that they are preparing bankruptcy papers -it is an option and a weapon (just not a shareholder friendly one)
6) Mel said the shorts would get hurt if they bet against him – so far he’s been wrong, but could he pull a rabbit out of his sleeve ?
7) Doesn’t he have any other offers, friends in the business to that would want to get a piece of company & help a brother out !