ahahha well this is a total Newb statement...
Tripp isnt it all buying and selling? In order to sell you must find a buyer am I not correct?
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ahahha well this is a total Newb statement...
Tripp isnt it all buying and selling? In order to sell you must find a buyer am I not correct?
Never mind, you beat me to the correction yourself.Quote:
Originally Posted by nisvan
I appreciate the comment about the respect though. =)
(at least I hope that was still meant for me... :P)
its consider selling when its bought under last price, and buying if bought above last price.
one day at a time
we're still here, still breathing
holding at around .6, despite INTENSE media pressure
we can make it
no bankruptcy
pay off debts
keep broadcasting
keep taking in new subscriptions
keep selling new equipment
keep being one of the best products yet of the new century
there's no reason to cave now that we've come so far
(newman - yes, you still get the R, no correction there)
It took me several phone calls up the ladder to higher ups at the DOW JONES NEWS service to get this story fixed. Finally the head editor at DJ "fixed" the story, but it now reads as if it is a verifiable fact that Ergen owns all of the Feb. debt. I'm calling them back now. I had to show these guys how to find the 8-k on the internet....
DJ CORRECT:Sirius XM Shares Drop On Reports Of Possible Bankruptcy
. ("Sirius XM Shares Drop On Report Of Possible Bankruptcy" published at 10:28 (EST) incorrectly stated in seventh paragraph the amount of Sirius XM debt acquired by Charlie Ergan, head of Dish Network, that matures Tuesday. The correct amount is $174.59 million, not $300 million. A correct version of the story follows.)
Ê By David B. Wilkerson
Ê Shares of Sirius XM Satellite Radio Inc. (SIRI) dropped 31% in morning trading Wednesday on reports that the company could be close to filing for bankruptcy protection.
Ê The shares were down 3 cents at 8 cents. The stock traded in the $4 range two years ago.
Ê Sirius XM is working with bankruptcy lawyer Mark Thompson of Simpson, Thatcher & Bartlett, and Joseph Bondi, a restructuring expert, to set up a Chapter 11 filing that could come in the next few days, The New York Times reported on its Web site Tuesday evening, citing an unnamed person it described as familiar with the situation.
Ê The Wall Street Journal mentioned the same names, citing two unnamed persons close to the matter, in its online edition.
Ê A Sirius XM spokesman declined to comment Tuesday night.
Ê Documents and analysis are almost finished, the Times said.
Ê The Journal reported this week that Charlie Ergen, head of satellite provider Dish Network (DISH), had acquired most of a tranche of $174.59 million in Sirius XM debt that matures Tuesday, and that Sirius turned down Ergen's unsolicited bid to buy the company.
Ê A Sirius XM bankruptcy could pressure Ergen to make a formal offer to acquire the company, the Times said.
Ê XM Satellite Radio and Sirius Satellite Radio were formed in the late 1990s. Though there was skepticism in some circles that people would pay for radio when it was available for free, as it had been for decades, the satellite services gained traction by convincing automobile manufacturers to make them optionally available in cars and trucks. Sirius and XM radio units were also available in retail stores.
Ê Each company offered more than 100 channels of music or talk, across a wide array of genres and subgenres. The services were not interoperable, so that a buyer of XM equipment could not receive Sirius' service or vice versa.
Ê Between them, they eventually attracted several million subscribers, including some listeners who had become disillusioned with conventional broadcast radio.
Ê The rapid consolidation of traditional radio, made possible by the 1996 Telecom Act, helped create a perception that formats and playlists had become stale, with hundreds of stations owned by the same company sounding virtually the same.
Ê However, Sirius and XM lost millions of dollars each quarter, weighed down by marketing costs and other expenses.
Ê They took on big sports contracts with such leagues as the NFL, Major League Baseball and the NBA. Sirius hired the outspoken Infinity Broadcasting morning personality Howard Stern in a highly publicized move that lifted the visibility of both companies but saddled Sirius with a fat contract for the shock jock and significant costs associated with publicizing him. XM had to ratchet up its marketing efforts at the same time to combat the barrage of hype surrounding Stern.
Ê In February 2007, the hemorrhaging companies announced that Sirius would acquire XM in a $13.6 billion deal. After a protracted regulatory review, the transaction was completed last July.
Ê To facilitate the acquisition of XM, Sirius took on a massive amount of debt, and the combined entity has continued to struggle.
Ê In the third quarter of 2008, Sirius XM lost $4.88 billion, or $1.93 a share. Subscribers rose 17% from the year-earlier quarter, but the company said declining auto sales had slowed its growth. Ê -David B. Wilkerson; 415-439-6400
Quote:
Originally Posted by Demian
I do agree with this guy that none of the paths are boring. You can feel the adrenaline rushing in these forums....
good stuff demian 6 stars ******
Quote:
Originally Posted by nisvan
I agree and disagree with you. It is all media generated... but Sirius gave them something to talk about (there was a leak that put the company closer to BK, no doubt about it). The question is why ? That is what needs to be analized...
I finally got those bastards at the DJ to fix the story again......it only took me most of the day on the phone going up the ladder to the higher ups at the DJ. Why isn't Sirius/XM doing this? Why am I doing the work for them? Do they have a PR department?
DJ CORRECT: Sirius XM Shares Drop On Report Of Possible Bankruptcy
. ("Sirius XM Shares Drop On Report Of Possible Bankruptcy" published at 10:28 (EST) incorrectly stated in seventh paragraph the amount of Sirius XM debt that matures Tuesday. The correct amount is $174.59 million, not $300 million. The story also incorrectly stated that the debt was acquired by Charlie Ergan, head of Dish Network. A correct version of the story follows.)
Ê By David B. Wilkerson
Ê Shares of Sirius XM Satellite Radio Inc. (SIRI) dropped 31% in morning trading Wednesday on reports that the company could be close to filing for bankruptcy protection.
Ê The shares were down 3 cents at 8 cents. The stock traded in the $4 range two years ago.
Ê Sirius XM is working with bankruptcy lawyer Mark Thompson of Simpson, Thatcher & Bartlett, and Joseph Bondi, a restructuring expert, to set up a Chapter 11 filing that could come in the next few days, The New York Times reported on its Web site Tuesday evening, citing an unnamed person it described as familiar with the situation.
Ê The Wall Street Journal mentioned the same names, citing two unnamed persons close to the matter, in its online edition.
Ê A Sirius XM spokesman declined to comment Tuesday night.
Ê Documents and analysis are almost finished, the Times said.
Ê The Journal reported this week that Charlie Ergen, head of satellite provider Dish Network (DISH), had acquired most of a tranche of $174.59 million in Sirius XM debt that matures Tuesday, and that Sirius turned down Ergen's unsolicited bid to buy the company.
Ê A Sirius XM bankruptcy could pressure Ergen to make a formal offer to acquire the company, the Times said.
Ê XM Satellite Radio and Sirius Satellite Radio were formed in the late 1990s. Though there was skepticism in some circles that people would pay for radio when it was available for free, as it had been for decades, the satellite services gained traction by convincing automobile manufacturers to make them optionally available in cars and trucks. Sirius and XM radio units were also available in retail stores.
Ê Each company offered more than 100 channels of music or talk, across a wide array of genres and subgenres. The services were not interoperable, so that a buyer of XM equipment could not receive Sirius' service or vice versa.
Ê Between them, they eventually attracted several million subscribers, including some listeners who had become disillusioned with conventional broadcast radio.
Ê The rapid consolidation of traditional radio, made possible by the 1996 Telecom Act, helped create a perception that formats and playlists had become stale, with hundreds of stations owned by the same company sounding virtually the same.
Ê However, Sirius and XM lost millions of dollars each quarter, weighed down by marketing costs and other expenses.
Ê They took on big sports contracts with such leagues as the NFL, Major League Baseball and the NBA. Sirius hired the outspoken Infinity Broadcasting morning personality Howard Stern in a highly publicized move that lifted the visibility of both companies but saddled Sirius with a fat contract for the shock jock and significant costs associated with publicizing him. XM had to ratchet up its marketing efforts at the same time to combat the barrage of hype surrounding Stern.
Ê In February 2007, the hemorrhaging companies announced that Sirius would acquire XM in a $13.6 billion deal. After a protracted regulatory review, the transaction was completed last July.
Ê To facilitate the acquisition of XM, Sirius took on a massive amount of debt, and the combined entity has continued to struggle.
Ê In the third quarter of 2008, Sirius XM lost $4.88 billion, or $1.93 a share. Subscribers rose 17% from the year-earlier quarter, but the company said declining auto sales had slowed its growth. Ê -David B. Wilkerson; 415-439-6400
In someone of a lighter note
SiriusXM will be alive in the the year 3009, how do I know
http://img262.imageshack.us/img262/4...1622698il1.png
Or it was rehashed from what was already known from before........and repackaged to scare people.Quote:
Originally Posted by Siriusowner
2 trades for 917,000 went in right at close for .055
Don't you think there's already been enough ANALIZING with this stock?Quote:
Originally Posted by Siriusowner
Now analysis... that's another story...
SIRI closed @ .055 on volume of 276,643,071 shares traded.
it closed at .055Quote:
Originally Posted by Demian
thanx Demian is it 5:00 yet:cheers:
http://www.reuters.com/article/marke...0090211?rpc=44
MFC Global, Barclays among big Sirius XM debtholders
By Walden Siew
NEW YORK, Feb 11 (Reuters) - MFC Global Investment Management and Barclays Global Investors may be among large debtholders of Sirius XM Radio Inc (SIRI.O) targeted by EchoStar Corp (SATS.O) in a potential bid to control the satellite radio company, investors say.
Deutsche Asset Management, Putnam Investment Management, MFC, manager of various John Hancock funds and Tattersall Advisory Group were among the biggest holders of Sirius's actively-traded 9.625 percent notes due in 2013, according to Thomson Reuters data and company filings as recent as November.
Bondholders contacted by Reuters declined to comment or say whether they have been approached by EchoStar chief Charlie Ergen, who reportedly has been accumulating Sirius debt in a potential bid to control the company. For details, please double-click: [ID:nN10305535]
"He may be approaching other bondholders with the idea of buying their bonds or coordinating their action," said Jean-Marie Eveillard, co-manager of First Eagle Global Fund, under the investment advisory firm Arnhold & S Bleichroeder Advisers. "We look at it as a positive."
Some large bondholders of Sirius XM debt told Reuters they welcomed a potential takeover of the company by EchoStar.
"It looks like Ergen is interested and in an indirect way trying to take control of the company," said Eveillard.
He also noted he holds Sirius bonds, but has not been approached by EchoStar representatives to buy up any debt.
"He knows the business, Ergen is an astute businessman and if he can find a way to reduce debt, that should be good for bondholders and investors," Eveillard said. "We would not mind being equity holders once he controls the business."
Sirius' 2013 notes have been among the most actively traded since The Wall Street Journal reported last week that EchoStar holds about $400 million of Sirius XM debt. The satellite radio company led by Mel Karmazin is scrambling to raise $175 million by a Feb. 17 payment date.
CreditSights, a research firm, said that 2013 bond may be most advantageous to EchoStar because it would have a more senior claim in the event of any bankruptcy.
The 2013 notes soared to more than 40 cents on the dollar on Monday before falling to about 37 cents on Wednesday with yields of almost 42 percent, according to MarketAxess data.
David Novosel, a credit analyst with Gimme Credit, said if the bonds reach even more distressed levels, it may mark an opportunity for EchoStar to accumulate even more debt.
"My guess is EchoStar won't be too aggressive because they can wait and get this on the cheap," Novosel said.
Other holders of the company's debt include AllianceBernstein, Eaton Vance Management, OppenheimerFunds, Fidelity Management & Research Co and Seattle-based Edge Asset Management, according to Thomson Reuters data based on the most recent company filings.
"We have material insider information and cannot comment on the deal," said one John Hancock portfolio manager who declined to be named.
Other company representatives did not return phone calls seeking comment or declined to comment. (Additional reporting by Karen Brettell; editing by Gary Crosse)
Y'all know me. Do you want my nize answer or my sarcastic and nasty one ?Quote:
Originally Posted by winagain35
Again, the question is why ?Quote:
Originally Posted by Demian
Karmazin stuck between rock and EchoStar
http://www.crainsnewyork.com/article...E/902119966/-1