Thanks Homer...I was struggling with the fact that Liberty owns 48% of DTV..and how they could possibly own more than 49% of SIRI if there were still regulatory issues.
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Thanks Homer...I was struggling with the fact that Liberty owns 48% of DTV..and how they could possibly own more than 49% of SIRI if there were still regulatory issues.
im reading this as more of the rich protecting the rich at the expense of the poor and uneducated by including words like "shareholder protection" when it really means jack shit to us...im tired and I hope i can understand this better in the morning (hopefully with the SP going sky high) but I see this right now as bullshit.
thanks homer for clarifying...is this something that is going to cause us to lose money in any possible way (besides anyone who didn't average down)
if you are a share holder the rights issue is great,just had one with HSBC stock my wife had in her 401K..shares were worth $17.50 at the issue date and you could buy 5 shares for every 12 you owned at $3.00 each or refuse to buy them and asign your right shares to be sold on the open market for whatever the price was that day,with 70% of the profit over $3 per share given to me..So if you figure out the price they are offering it at you Know the R/S is factored in to it at $2.00sp..So IMHO we are facing full 9 billion share dilution with Liberty getting additional 9% of company for debt owed and other debt swapped for shares and then R/S,so it is harder with stock price higher to but out remaining shares for 4.9% stake to trigger the poison pill and liberty will only need to buy 2% after 3 years to control the company.
Now the big Question is where will the SP be during the next 2-3 years or better yet pre- R/S?
P.S. just got in from Golf and a few drinks ,so haven't fully digested news yet,just seeing it for first time now at 11pm..
found it . . . based on this, I wouldn't bet against a big rush for the exits right after Black Friday 2009.
homer985 says:
April 21, 2009 at 6:37 pm
I also stumbled across a covenant in the Investment Agreement that prevents Liberty from hedging against their investment through any kind of hedging transaction until after 12/31/2009.
well...one things for sure its a hot topic on the newswires.
whywould the vote be scheduled for june 30 2010
No actually IMromo,it is what happens to companies who have never made a profit in their existence of 12 years and have no cash left from IPO.Quote:
Originally Posted by imromo24
CASH is KING today and if you read the Malone article in the denver paper ,he says as much,all his assets are in cash looking for companies like SiriusXM,but he hasn't found one like it yet..
The important thing now for us shareholders is to have a plan for PRE R/S and after...your share avg is most important now.IMHO if your avg is under .80 you are fine,but if higher,you have some decisions to make..IMHO..
Don't panic,have a profit or loss goal in your mind and stick to it..
im kind of stuck because my profit ideas have been 5 years plus and much more than $4 a share...i am averaged under .80 which was one goal i achieved through sound advice here...
but what do you think the negatives are? Is there a way still to lose everything?
Yeah, here's my plan . . . exit Sirius XM at a substantial loss and go long Liberty Media.
Quote:
Originally Posted by imromo24
No,it will be at least a $1 offering if Liberty or some one else wants siriusXM.
There is no chance for BK for 3 years at least..