SIRI closed red again today @ .31...........
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SIRI closed red again today @ .31...........
I think it was the car sales #'s from Ford & GM that caused the drop today, not the lawsuit.
Yes it was car sales and fear of the unknown... sirius gets bad news and down grades everyday, so we are stuck in the mud even with the market going up.. but be glad we havent had down markets we could be .22$ again:scared:
AND LETS GO STEELERS 10-6 HALFTIME.. STEELERS D LOOKS GOOD BIG BEN AND THAT OFFENCE SUCKING ONCE AGAIN..:annoyed:
http://www.alleyinsider.com/2008/11/...bad-news-siri-
Sirius XM Hosed By GM's Bad News (SIRI)
Dan Frommer | November 3, 2008 6:20 PM
So goes the auto industry, so goes Sirius XM Radio, which relies on new car sales with built-in satellite radios for the bulk of its new subscribers.
So when the auto industry has its worst month, adjusted for population, in the post-World War II era, it's no surprise that Sirius shares took a dive: While the Nasdaq traded up 0.3% today, Sirius XM (SIRI) stock closed down 8.3% to 31 cents; it had dropped as much as 13% before recovering.
After Hours Trade Reporting
After Hours
Last: $ .32
After Hours
High: $ .3237
After Hours
Volume: 272,701
After Hours
Low: $ .31
Good Morning people........
SIRI trading up a couple cents this morning - is it just another tease? What bad news can there be left to come out? Analysts say it should be a penny stock, car sales fall off of a cliff, shareholders are suing management, credit market sucks, more dilution, possible reverse split announced, sweatshop workers protest, consumer spending way down............
What's next? Satellite radios cause cancer?
http://www.mediapost.com/publication...&art_aid=94039
Getting Sirius: Satcaster Charged With Racketeering
by Erik Sass, Tuesday, Nov 4, 2008 8:32 AM ET
The newly merged Sirius-XM satellite radio company has been sued by shareholders of the formerly independent Sirius Satellite Radio--who are accusing top executives, including CEO Mel Karmazin, of deliberately torpedoing the company's stock price in a bid to take it private at a discount.
The lawsuit, filed by a group called "Save Sirius" on behalf of 500 Sirius shareholders, says that Karmazin and other executives knowingly sabotaged stock values in a way that violates the Racketeer Influenced and Corrupt Organizations (RICO) Act, as well as breaching the Fiduciary Duty and Sherman Act.
Michael Hartlieb, speaking for Save Sirius, noted that Sirius shareholders have lost more than 90% of their value under Karmazin's management. From a peak of around $7.70 per share in 2004-2005, the stock price of Sirius has declined steadily to about $0.31 in early November, a roughly 95% drop.
The lawsuit accuses Karmazin and other executives of deflating the stock price to make it easier to take the company private, through a number of measures including a prolonged merger process, failing to give other corporate suitors a hearing, neglecting to introduce interoperable radios and issuing XM shares to financiers who then short-sold the stock.
This isn't the first time that shareholders have taken up legal cudgels against the satcasters.
Hugh Panero, the CEO of XM, ran afoul of XM investors and the Securities and Exchange Commission for certain allegedly illegal stock transactions in 2005. A group of XM investors filed a lawsuit (later dismissed) against Panero and four other XM executives in May 2006 over the sale of $79 million of stock the year before.
Panero and the other executives were accused of issuing false forecasts of overall subscriptions and the average cost of new subscriber acquisition to inflate stock prices in the six-month period before they sold their stock. A federal judge dismissed the case in March 2007.
http://www.theiphoneblog.com/2008/11/04/sonos-iphone/
Sonos for your iPhone
Posted on Tuesday, Nov 4, 2008 by Chad
http://www.theiphoneblog.com/images/...nos_iphone.jpg
"...I can access any shared music files on my personal computer including my itunes library. Beyond that the music selection is near limitless. I can access several on-line subscription services (free 30 day trials included with the purchase). Rhapsody, Pandora, Napster, Sirius, and 1500 pre- loaded internet radio stations, all from my handheld controller(s)! I can search via all the expected criteria, and build Pandora stations right from the controller! The Sonos system transmits this data wirelessly from a sending unit my router out to each room, or “zone”. In each room is a Sonos receiver/amplifier connected to various speaker types depending on the specific room. This is where it gets fun. With the controller I can turn each zone on or off, select the music of choice, and control the volume of each zone independent of one another! I can “link” zones to have them all playing the same music, or not!"
http://www.digitalhome.ca/content/view/3052/281/
Pioneer XMp3 radio now available in Canada
TUESDAY, 04 NOVEMBER 2008
http://www.digitalhome.ca/images/sto...oneer_xmp3.jpg
XM Canada, Canada's number two subscription satellite radio service, today announced the Pioneer XMp3, a portable satellite radio and MP3 player in one, was now available in Canada.
Weighing in at just 3.1 ounces, the new XMp3 has a larger and easier to read colour display than the Pioneer Inno XM satellite radio which it replaces in the XM Radio line-up.
Features of the new units include a wheel for quick access to XM channels; the ability to record up to 5 channels simultaneously; TuneSelect and GameSelect to find your favorite artists or sports events on any XM channel; ability to upload music files from your PC and the ability to store music file on a removable microSD memory card.
The XMp3 is also the first portable satellite radio Program Guide that displays broadcasts on each channel two weeks in advance.
The XMp3 will sell in Canada in $279.
Ok, so the dow is up 238 and SIRI is struggling to stay green again.......so sad.
Pivot Table
R2 R1 Pivot S1 S2
0.37 0.34 0.32 0.29 0.27