SIRI Intraday Updates for the Week of 2/09/09

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Originally Posted by Siriusowner

I agree. Buying just because this issue is cheap is not being analytical.

But hey, anyone can do whatever. I just lost $150.00 USD on this deal because I got assigned ten Jan 2010 $2.5 put contracts. If I had bought the shares at $2.50, I would have lost $2,500, instead I sold the contracts @ $2.35 and made $2,350. Now I am the proud owner of 1000 shares of SIRI with a cost of $2.50-$2.35 = $0.15 cents plus comissions!. I honestly though at the begining of the year this issue was going to do better and I was bullish on it but evidently I was wrong, like y'all BUT I did not risk $2,500 on it!!!. I could have made $2,350.00 though...and still can, my $150.00 loss is basically a paper loss because I have the shares...unless they declare BK.... And you know what ? At the end of the year I can declare the $2,500 loss if I need to. My "profit" was in the contract and that is treated differently by the IRS than capital gains from stock.

That was a bad analysis on my part but do you see the difference between a calculated risk and reckless optimism ?

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You have posted on this board that you have made other purchases of SIRI and have even averaged down and bought more....

There have been too many inconsistencies in what you post on this board for you to be believable....

In this post you say that you don't have a wife....
http://siriusbuzz.com/forum/showthre...=9366#post9366

Quote:

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Originally Posted by Siriusowner

I don't like eggs, I don't have a wife (few girlfriends though, just for the occasional...), don't like pets (too many germs), hate restaurant food (too many germs, fat, carbs and who knows what else), I do not want to smile by myself (I may end up looking like an i....t)...I do like to win though...

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.....and in this post you say that your wife slapped you.
http://siriusbuzz.com/forum/showthread.php?t=1341

Quote:

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Originally Posted by Siriusowner

Hey whynot, each time I read or write something in this forum I am laughing so hard that sometimes I have choked... My wife sometimes asks me, why are you laughing you evil maniac, are you reading a joke or something ? Then when she reads what I am reading she slaps me...She tells me I shouldn't be evil with you guys... But then again, she tells me that she knew who she was marrying and that she knew that there's basically not difference between an evil mind and a genius, only its purpose.

So, if I am having fun with this, why would I get another hobby ? The minute I get bored I will move onto something else.

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Why should we believe anything you say?

Quote:

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Originally Posted by Demian

You have posted on this board that you have made other purchases of SIRI and have even averaged down and bought more....

There have been too many inconsistencies in what you post on this board for you to be believable....

In this post you say that you don't have a wife....
http://siriusbuzz.com/forum/showthre...=9366#post9366



.....and in this post you say that your wife slapped you.
http://siriusbuzz.com/forum/showthread.php?t=1341



Why should we believe anything you say?

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I also sold all of them. I posted it here, I took a 50% loss about a week ago. Do you think I wouldn't remember that ??? Don't you read all the posts ????

I have a wife, an ex-wife, a current lover and several ex-lovers. 2 kids, father and mother still alive, grandparents all dead... want to know more about my life ??? (the post where I said I don't have a wife, I was joking, can't you see it ???). I do like eggs by the way, have a small dog, go to restaurants every f%$^$ day (I'd be dead if I didn't go to restautants, I used to travel internationally, I did that for six almost seven f#$%$#%# years of my life) and laught out hard or at least I smile everytime I read your posts. Anything else ???.

And, you are the last person I want to convince of anything. You are free to risk all your money with this issue.

ps: By the way, all the ??? and & $^$% do not mean anything, I just like how they look...

http://www.thepennystockblog.com/signals.html

interesting read :O

Can you sum it up trippin? I can't open the link (firewall) thanks!

MARKET MAKER SIGNALS

Penny traders believe that Market Makers (MM) will "signal" moves in advance buy using small amounts of buys or sells as "signals". The "signals" are such a small amount of shares (worth no more than 5 or 10 dollars) that no trader would have paid a commission that costs more than the amount of shares bought. The "signals" are from one MM to another.


* 100 I need shares.
* 200 I need shares badly,but do not take the stock down.
* 300 Take the price down so I can load shares
* 400 Keep trading it sideways.
* 500 Gap the stock. This gap can be either up or down, depending on the direction of the 500 signal.



Remeber this is a theory put forth by a lot of penny stock traders. This is not a guaranteed trading method so please use common sense and purchase stocks only after researching your investment thoroughly.

Still learning how to use this web site as a forum member, such as attaching a link to news articles etc. Give me time and I'll get the hang of it. This morning on my MSN homepage Kim Paterson had an article about siri/xm which was all the same B.S. and old news. It's great reading these posts and related news as they are much more timely.
I do have a question about one of the underwriters MS and amount of shares or debt they hold of siri/xm? I seem to remember one of the senior members threads from this past summer where it was mentioned the amount of shares they aquired as result of the merger.

Long siri:

http://www.twice.com/article/CA6637181.html

Sirius XM Faces Tough Choices
By Amy Gilroy -- TWICE, 2/12/2009 12:05:00 PM

New York — Bankruptcy or a takeover by one of the satellite TV companies appear to be the key options remaining for Sirius XM, according to analysts.
Decision day is Feb. 17, when a $175 million slice of debt that Sirius reportedly owes Dish Network CEO Charlie Ergen comes due, at a time when credit is frozen and Sirius’ subscriber growth has narrowed due to slower car sales.
A New York Times report said Liberty Media, which owns a controlling interest in DirecTV, is now in talks with Sirius, and the Wall Street Journal was first to report that Ergen is also talking to Sirius, possibly to win control of the company that owes Ergen a total of $400 million.
It boils down to two main choices for Sirius, lead by CEO Mel Karmazin, said David Bank, analyst for RBC Capital Markets.
Bankruptcy would allow Sirius to restructure its deals with Howard Stern (who is three years into a five-year contract at $500 million) as well as the NFL, MLB and others and to operate as a slimmer, more profitable company. But then again, bankruptcy might cause some of Sirius’ 20 million subscribers to take flight.
“Someone has to decide if the business disruption risk [from bankruptcy] is worth getting a more economical solution in the long run versus taking a bird in the hand,” said Bank referring to a bird-in-the-hand deal with Ergen or Liberty Media, which is run by chairman John Malone.
“I don’t know the answer and don’t know that anyone does,” he said, but, “if there’s a good deal they have to take it,” he said of the Sirius board of directors.
Media reports said a deal with Liberty would be more favorable to Karmazin, who reportedly does not get along with Ergen. Bank believes the talks with Liberty are new and therefore any deal by Feb. 17 would be rushed, so Ergen would be the more likely candidate.
Both the satellite TV companies may be interested in XM’s satellites or ground repeaters, which are said to be multipurpose and more adaptable to other uses than those of Sirius.
Jimmy Schaeffler, chairman of The Carmel Group, believes there are enough synergies between Sirius and satellite TV that either DirecTV or Dish Network could benefit by owning the satellite radio spectrum and winning a pipeline into the car.
“It’s a fit. They are both subscription businesses, they both have a similar infrastructure, they both deal in consumer electronics products,” he said, noting that Sirius is also attractive right now because “it’s a buy” and “John Malone and Charlie Ergen both have cash.”
It is also possible that Malone is simply trying to drive up the price of Sirius for Ergen, and that other companies may yet join in the bidding, said Schaeffler. “I expect others may join. The cable guys will not and I don’t thing the telcos will but the Googles and Yahoos might see this as an opportunity ... It’s a big old chess game,” he said.
It is expected that such a satellite TV takeover of Sirius would require federal approval.
Industry members had mixed reactions to a possible Sirius XM bankruptcy.
Some car radio makers are using subsidized satellite-radio chipsets in their radios and others are not receiving subsidies.
Retailers have already seen their satellite radio business drop over the past two years as consumers who were scared away by the merger, have not returned in droves since the Sirius XM merger’s completion.
Audio Express, a 40-store chain, said its sales are about a quarter of what they were when the merger was first announced.
Sirius XM retail sales (and not OEM sales) were in negative territory in net new subscribers during the third quarter on a Pro Forma basis.

These guys have a bashing agenda.....

http://www.todaysfinancialnews.com/u...erve-7654.html

Sirius investors: You get what you deserve
Today's Financial News
All betting is closed. The news is out and Sirius XM Satellite (NASDAQ:SIRI) shareholders are losing big. Shares of the shaky-at-best company are getting closer and closer to becoming worthless. Bankruptcy is now in sight. Who could have imagined?
By Andrew Snyder, TodaysFinancialNews.com

Baltimore – (TFN): Oh my, shares of Sirius XM Satellite (NASDAQ:SIRI) are plunging today on news of a possible bankruptcy filing. Who would have ever been smart enough to foresee such a horrible event coming? The company only had a billion dollars in debt due over the next year. That’s nothing compared to the banks.
Uncle Sam could easily step in and erase a few of those zeroes, right?
Putting all sarcasm aside, I do not feel even the slightest bit sorry for investors wasting their money on this company. Analysts and experts have been screaming for months it was a dangerous crap shoot that would cost investors dearly, yet wildcat investors continued to aim for the fences.
It looks like they are about to strike out.
Shares of Sirius are down by about 40% (from $0.11 to $0.07) at the moment on news the company’s officials are mulling a bankruptcy filing. Whether the rumor is merely a back-handed ploy to get Charles Ergen and his EchoStar (NASDAQ:SATS) to step to the plate or if a bankruptcy truly is pending is beside the point. What matters is shareholders are about to get the rug pulled out from under them.
Short sellers are getting the news they yearned for. Only one other stock, Ford (NYSE:F) has more shares sold short. But you can bet with shares plunging ever closer to the critical zero level most sensible investors have been predicting, those shorts are going to lock in their profits and run. In fact, their buying to cover their positions is likely the only thing keeping shares from all-out devastation today.

Finally… the end

Going forward, what does this all mean for investors? First, it means all betting is closed. The speculation can come to an end and the losers can go home with their tail between their legs… finally.
But more importantly, Sirius’ trouble sends a message throughout Wall Street and Main Street that junk companies with huge debt and shaky-at-best business models are not going to make it through this crisis. In other words, if you are speculating and taking big risks, you are going to lose.
If you continue to place bets on Wall Street, especially in this economic environment, you might as well burn your money. If you want to gamble, go to Vegas. It needs the business.
There are plenty of money-making opportunities out there if you do your homework, TFN’s and HSC’s portfolio proves it, but if you are not willing to do the work needed to succeed and instead merely invest with the herd and the headlines, you are going down.
I am glad the debate surrounding Sirius is about to come to an end. Now I do not have to hear and read the excuses and whining about the company’s management and the problems with “shorts” driving the company into the gutter.
Sirius was a shaky company during a booming economy. Now that the economy is drowning in pain, satellite radio is doing exactly as we said it would. Crash and burn.

Ok - perhaps a really dumb question but .... What stock do we own "Sirius" or "XM" or "SiriusXM"?? AND - if the XM side was allowed to bk - how can it NOT affect our pps???
Again - likely a really dumb question!

I wish XM could go back in time and readjust there '09 debt structure.....

Where is a time machine when you need one?

http://farm3.static.flickr.com/2001/...b347f9.jpg?v=0

Dow Jones........

Ê Sirius XM Radio Inc. (SIRI, $0.07, $0.02, 30.18%) is seeking an investment from Liberty Media Corp., The Wall Street Journal reported, citing people familiar with the matter, in a last-ditch effort to fend off an unsolicited takeover approach from satellite entrepreneur Charles Ergen. The talks set the stage for a battle between the leading U.S. satellite-television providers - Liberty-controlled DirectTV Group Inc. (DTV, $23.28, $0.34, 1.48%) and Ergen's Dish Network Corp. (DISH, $12.90, -$0.08, -0.62%) - for control of the country's sole satellite-radio operator.

Rick: You own Sirius XM Shares. XM is a wholey owned subsidiary of Sirius XM, much like Delphi was a wholey owned subsidiary of GM.

If XM declares chapter 11, Sirius shareholders remain intact. It could affect the PPS, but seeing as how 2.1 billion in debt belongs to XM and will get reorganized, that affect would probably be a positive affect.

SIRI trading up 35.82% with 10 minutes to go.

Here comes the sun.........

The thing to remember is that Chapter 11 is REORGANIZATION. Basically, XM subsidiary would go into a holding, which would be court protected. They would be given time to reorganize their business plan, and the creditors would have to renegotiate all deals with them. This might eleminate some of the debt as well as drastically reduce the interest rates on some of their more outrageous debt (2014 and Dec 2009 debt) as well as push out the dates due on these.

Contracts are also considered "creditors", which means that GM and Honda would have to renegotiate the terms on their contracts as would other OEMs that XM has, Baseball would have to renegotiate, O&A, Martha Stewart, Opra, etc, etc, etc. Not all of these contracts would be renegotiated (some would remain the same), but some of them may not be renewed either.

There are just a few of the advantages...

SIRI closed up 34.545% @ .074 on volume of almost 198 million shares traded...

5.....4.....3......2.....1......Bad news? Markets closed, Keep an eye on the news wire.....

http://biz.yahoo.com/ap/090212/siriu...ptcy.html?.v=1

AP
Report: Sirius seeks investment from Liberty Media
Thursday February 12, 3:49 pm ET
Report: Sirius XM Radio hoping for investment from Liberty Media amid bankruptcy chatter

NEW YORK (AP) -- Satellite radio provider Sirius XM Radio Inc., which may file for bankruptcy, is hoping for an investment from Liberty Media Corp., according to a news report citing sources close to the matter.

The Wall Street Journal said Thursday the talks were advanced, although a deal remained uncertain.

Sirius and Liberty Media were not immediately available to comment.

The paper said Sirius, which has few options left, is trying to fend off an unsolicited takeover approach from satellite TV mogul Charlie Ergen, boss of Dish Network Corp. and sister firm EchoStar Corp.

Ergen has offered to inject about $500 million into Sirius and restructure the roughly $375 million in short-term debt he holds in return for control of the company, according to The Wall Street Journal. Sirius rejected the offer.

Despite signing up more subscribers, Sirius has never made a profit because it was burdened with large interest payments on its debt.

U.S.-based Sirius XM Radio has an audience of nearly 20 million people who use the service to listen to sports and music.

In above average trading volume, shares of Sirius rose 2 cents, or 33.8 percent, to 7 cents. The stock has lost 54.2 percent of its value so far this year.

Trading up in AH.....

Sirius XM Radio Inc.
Feb. 12, 2009 Market Close: $ 0.074

After Hours Trade Reporting
After Hours
Last: $ .08
After Hours
High: $ .08
After Hours
Volume: 2,078,926
After Hours
Low: $ .0739

I'll bet some talking head tries to spin this negative for SIRI.

Russian and US satellites collide

http://news.bbc.co.uk/2/hi/science/nature/7885051.stm

http://www.examiner.com/x-426-Sports...sXM-bankruptcy

MLB and NFL protected themselves against expected Sirius-XM bankruptcy
February 12, 12:19 PM
by Paula Duffy, Sports Examiner

Sports Business Daily reports that major sports' leagues are checking their contracts with Sirius-XM. It is being reported in multiple media outlets that the company is on the verge of missing debt payments due next week.
XM and Sirius hoped to solve their huge debt problems by merging and it seems that for right now, it hasn't worked. Customer acquisition costs as well as bidding for various sports broadcast rights had pitted the companies against each other since their inception dates.

Sirius XM's CEO, Mel Karmazin is reported to be frantically investigating all options in order to avoid filing for Chapter 11 bankruptcy protection.

Right now it is known that the NFL and MLB should still expect to be paid their broadcast fees despite a bankruptcy filing, although a judge might change that expectation.

Their negotiators had the foresight to ask for escrow accounts into which were deposted the fees for the 2009 season in the case of the NFL and the 2009 and 2010 seasons for MLB.

The total debt currently crushing the company is reported to be $172 million. The MLB and NFL fees that are in escrow accounts exceed that amount with MLB expected to be paid on March 1, 2009 for the upcoming season.

Although the leagues should be justifiably concerned about not getting paid, I'm sure they are just as interested in the continued viability of the satellite radio business. I know as a subscriber I am hopeful that my daily baseball fix will be available to me.