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Well, I gotta tell it like it is . . . Tyler Savery has a positive Siri piece up today:
God bless that salty little curmudgeon!Quote:
"The numbers certainly are not staggering, but the move is prudent and points to managements commitment to running a tight ship."
http://siriusbuzz.com/sirius-xm-make...1.php#comments
The question must now be asked . . . does Matt Harrigan of Wunderlich Securities possess the requisite temperament to properly execute the duties of an analyst? Ok, look, the guy is a little green around the gills . . . that much we all know. But after last year's debacle with the February OEM revisions and his knee-jerk downgrade on the eve of a 10-Day-Run above the $1.00 delisting threshold, at a time when there was very little tolerance for "headline risk," you think he would have learned a valuable lesson.
Not so! The on-the-job-training simply didn't stick and with scant few details emerging about a "Howard Stern Lawsuit," Matt Harrigan races back to the panic-room and cuts his price target from $2.00 to $1.65. Instead of waiting for a clearer picture to emerge, instead of waiting to review Siri's answer to Stern's complaint, instead of simply amending his last research note with an added caveat such as:
"Risks to the opinion: A pending litigation matter of Stern v. Sirius XM, filed March 22, 2011, which is in the process of being more fully evaluated, has the potential to pose significant risk to the valuation model."
When you look at the actions of someone like, oh, say Tuna Amobi or Jim Goss for example, you see a steady hand, a level head and an even temperament . . . professional qualities that are essential if the analyst's opinions are to be respected by the investment community. For a single faux-pas, the investment community may be forgiving . . . but two false-starts and it's time for an early shower.
http://marksfriggin.com/news.htm#wedQuote:
"Jackie said if he needs advice for suing his employer he's there to give him advice. Howard said he must have been really happy to see that. "
http://www.radioink.com/sectional.asp?id=28721Quote:
The latest issue of Radio Ink features a cover story on Slacker CEO Jim Cady. The article covers the streaming radio company’s backstory (they were originally going to deliver content via satellites) and why the service is called “Slacker.”
Interestingly, Cady reveals that the “majority of our plays come from one of the 135 professionally curated stations,” not the custom artist-based streams. He also takes a shot at Pandora’s 80 million registered users figure.
“Our number is in the 23 to 24 million [range]. That’s a meaningless number because Pandora’s number inclues everybody that’s ever listened to one song on Pandora in the last 10 years.” A more useful figure, in Cady’s opinion, is the number of active users in the last 30 days, of which Slacker boasts 4-5 million.
I was sorry to read this one. Had just visited the Houdini Exhibit at NYC's Jewish Museum back in December and saw no mention of Dorothy Young. Have never seen mention of her in the many Houdini bio's I have read either . . . wish I had known.
http://www.rbr.com/radio/houdini-s-r...-has-died.htmlQuote:
When radio was still new illusionist Harry Houdini used a giant radio as a prop in his 1926 act to look into the future and reveal the “Radio Girl of 1950.” That was Dorothy Young, who died this week at age 103.
eve black:
eve white:Quote:
"howard said the charlie sheen thing crazy. He said he read that les moonves has been talking to the people at warner brothers about getting charlie back. He said moonves wants a solution to bring him back to the show so they can make it work. Howard said it's the same story with les. It's all about the money.
Howard said les tried to sue him and there were actually some overtures made for him to go back to cbs radio. He said that they never stick to anything there. howard said he would never go back since they tried to sue him. He said he tends to think there is something wrong with that. He takes it personally when they sue him. "http://marksfriggin.com/news.htm#wed
jane:Quote:
howard suing sirius xm. 03/23/11. 6:20am
howard took a call from a guy who asked about this lawsuit he has with sirius xm. Howard said he is suing them. He said he has never gotten on the air and discussed his financial situation. That's just not something he does. He said this ties in with that so he won't say a lot about it. He said he's an honest guy and he's operating from an honest place. He said he knows one thing and he's honest and he believes that he's been dealt with unfairly. He said it's not comfortable to be doing this but that's what he thinks he has to do. He said he can't get into it much more than that. Howard said he isn't asking for anything that isn't his.
The caller said that it seems like howard always lives up to his side of contracts and the companies are the ones who pull out. Howard said he's not going to get into it much more than that. He said it's very unfortunate. The caller asked how management is treating him now. Howard said he hasn't had any interaction with them since the lawsuit was filed.
The caller asked if he had checked out bubba on raidoio.com. Howard said he hasn't but he's sure whatever bubba is doing is good.
Robin said this whole thing is shocking. Howard said he couldn't handle this any other way. He said he feels like breaking up a dressing room but he won't be doing that.
Howard said he can't get into the details of the suit. He said he would like to but he's trying to use his head. He said he's ready to go home now. He said he'd like to talk about this because now he's distracted. He said this whole thing is not pleasant. He said he knows robin wants to ask him stuff but he can't talk about it. He said that this is something that has happened to many people and he's just one in a long line. He said that he's going to continue his association with the company. This is just a business argument. He said he has to take a break to get his mind off of this. He said he's very distracted right now. Howard said he has to calm himself down after that. He said he feels like taking his shirt off right now. It's very weird.
Quote:
"the problem is there are too many friggin lawyers. There should only be two law schools, harvard and yale and if you can't get into either one then you don't go to law school. That would cut down on all these frivolous lawsuits!"
http://www.nytimes.com/2011/03/24/te...ogue.html?_r=1Quote:
"Show me a portable gadget these days that can play music — iPhone, Android phone, tablet, laptop, whatever — and I’ll show you its feeble, pathetic built-in speakers. If you want better sound, you could put on the earbuds — or get a portable wireless speaker."
http://www.andomedia.com/ranker/Ranker_Jan2011.pdfQuote:
After two months of double-digit growth related to Ando’s beginning to measure their mobile streams, pureplay Slacker‘s AAS flattened (i.e., up 2%) from December to January, putting them in 4th place with an AAS of 26,338.
Quote:
"Google has begun testing Google Music internally, a sign that the much anticipated service is nearly ready to launch.
Employees at the online behemoth have begun a process commonly referred to in Silicon Valley as dog-fooding, in which employees try out a new service or product, music industry sources told CNET."
Read more: http://news.cnet.com/8301-31001_3-20...#ixzz1HepMJZF6
http://www.rbr.com/radio/automated-m...-resource.htmlQuote:
Orpheus Media Research describes itself as an “advanced music research and development company that automates the search, analysis, and discovery of commercial-use music. Read digital, computer-oriented searching. That lends an enormous amount of credibility to its research finding that 82% of respondents list radio as “the single greatest influence of their music listening.”
The survey found that 54% use music recommendation tools, with 40% utilizing them on a daily or at least weekly basis. However, the accuracy of such tools was criticized. 40% said such services were accurate 50% of the time or less, and many complained about the amount of time one had to invest to make use of them.
http://www.radio-info.com/news/lates...uyout-of-emmisQuote:
. . . in a suit filed in federal court in New York on Monday, Emmis sues Alden and its principal Randall Smith, alleging improper stock trading behavior last Spring. The company claims that Smith violated the SEC rules about "short-swing profits" in February, March and April 2010, when it engaged in transactions known as cash-settled equity swap agreements.
This might be one of the single best advertisements I have seen for NOT seeking investment help from Gramercy Capital Mgt. Corp.!
This article is an embarrassment filled with factual inaccuracies, speculation, unsupported claims and assumptions, an apparent lack of basic research, gross omissions and seemingly libelous attacks on the business acumen of David Frear.
Here are a few snippets from Joan's masterwork . . . but I must warn you, there is a good chance you might pee yourself silly reading her drivel:
I guess I missed the big celebration the day Sirius caught-up to XM; I hope you didn't over-indulge Joan. You too have a good memory Joan, it seems like just yesterday that Congress had a contentious debate over the merger. I think I may have even watched it on CSPAN. That vote on the House floor was a real nail-biter; and the Senate, I feared it would never pass the senate.Quote:
Eventually Sirius caught up with XM and then merged with it after a long contentious battle through the U.S. regulators and the Congress.
Yes in deed Joan, why I remember saying to julietoo . . . I said Julie, if we could only somehow manage to scrape up the payments for the interest on this debt with the couple 100 million COH we have available, we wouldn't even have to worry about Charlie Ergin's unwillingness to roll the Feb-Converts or the Shylocks' refusals to restructure the maturing bank loan in May. Hey David, you readin this? I know, I know . . . just another crackpot; I don't know pal, you got a pretty thick skin but if I'm you . . . I gotta draw the line somewhere.Quote:
Poor decisions by Mel Karmazin CEO based on very bad advice from CFO David Frear left the company with insufficient cash and cash flow to pay the interest on its debt.
Yes in deed Joan, it was a good thing John Malone "bought" that 40%. Seems like only yesterday me and relmor were dancing a jig we were so happy to have found a "buyer." Having Malone buy that 40% was a much better option than trading it for a short-term bridge loan. You got some sharp memory Joan . . . must be why you're a "Top Stock Picker."Quote:
Bankruptcy was imminent when John Malone and Liberty Media (LINTA) swept in with enough cash to buy 40% of Sirius."
Hey Joan . . . do they cover "Reverse Morris Trusts" in the CFA curriculum?Quote:
Malone loves tax loss carry-forwards and Sirius has them in spades. However, they will evaporate if Liberty moves to acquire the rest of Sirius prior to May 2012 so we have another year to wait to find out how that will play out.
Good point Joan . . . whadda ya say we pay Howard for the million or so XM subscribers who hear Howard's content via the "Best of" programming and call it a day? Oops, sorry, that extra million still doesn't hit the bonus target; my bad.Quote:
His attorneys assert that they were included in distributing Howard’s content to XM subscribers and therefore those subscribers should count for the bonus.
Yes Joan . . . that was quite an interview, wasn't it? It's not often that a caller gets to interview a radio host while calling into the Howard Stern Show . . . but that caller, that caller was like Piers Morgan!Quote:
When interviewed this week about this compensation dispute, Stern was very circumspect and acknowledged the contradiction between his job to promote Sirius XM at the very time he is suing them.
Holy $hit lady . . . I'm almost tempted to not even correct this one cuz it sounds so pleasing to the ear but unless 65% has suddenly become almost 100%, you might just want to pick up a transcript of the last conference call.Quote:
Almost all cars and light trucks are now manufactured with receivers for satellite radio
OMG, please, lady . . . close-out your position in siri immediately; this is not the right stock for you. Spencer, I know I've been a little rough on you but could ya help a brother in need? Tell her, please . . . . you've already got the boiler-plate written; just slap-up a new article with a few revisions. I think my friggin head is gonna explode if I try and explain it to her.Quote:
By owning Sirius XM, you don’t have to care which car company is outselling the other at any given month.
Joan? Be honest now, are we up-to-date on our continuing-ed cycle? (now I'm starting to feel sorry for this lady)Quote:
Keep your eye on David Frear’s stock transactions and S4 filings. He seems to know exactly when the shares are about to peak out and sell a bunch as he did recently when he sold 375,000 shares at $1.78 on 2/18/11 for a total value of $667,538.
You know something Joan? It is rather remarkable! I mean, after a year of Howard at Infinity during 2005, before he ever even went on the air at Sirius in January 2006, he brought in over 3 million subscribers; what the hell . . . lets hit the punch bowl and pay him for 2005 as well!Quote:
According to myriad press releases through the years from both Howard Stern and his boss at Sirius, Mel Karmazin, the survival and success of Sirius was the direct result of bringing in the well known self-styled radio talk show host to boost its brand awareness. There is no question that the idea worked in spades. After a year of Howard, the number of subscribers ballooned to 3,316,560 by the end of 2005.
http://blogs.forbes.com/joanlappin/2...rtner=yahootix
Keep Joan's decades of experience I'd rather have the beginner! Ooh-Fah, what a disaster http://www.freesmileys.org/smileys/s...aughing013.gifQuote:
Seeking investment help with your portfolio. Contact us. Don’t let a beginner practice on your retirement funds. Turn Gramercy Capital’s decades of experience to your advantage. We’ve been ranked #1 in the Nelson’s Directory of Registered Investment Advisors. Contact us at info@gramercycapital.com.
btw, note to Gramercy Capital Mgt. Corp and Joan E. Lappin, CFA . . . . I have copied and pasted the article as written at the time of this post into a Word document; if this article is later edited without notation, I will post the entire unedited article to highlight the factual errors that have been corrected as well as any libelous claims that may have been retracted.
Joan E. Lappin
Joan E. Lappin, our President and Chief Investment Officer, has 4 decades of Wall Street experience; first as a media and entertainment analyst and since 1980, as a portfolio manager. She has seen both bull markets and bear markets; and each more than once. Mrs. Lappin, who has been included in Marquis' Who's Who in the World, has managed assets for some of America's largest corporations and for high net worth individuals. Turn her decades of experience to your advantage.
Renowned as a "stock picker," Business Week has called Mrs. Lappin "an investment guru" and she has been well recognized as the subject of feature stories in such well known publications as The Wall Street Journal, Business Week, Newsweek, Barron's, Money, The New York Sun, Delta Sky Magazine, and USA Today, among many others. In February 2002, The New York Times' Sunday Business credited Mrs. Lappin with being the only analyst on Wall Street to spot phony accounting at Qwest Communications in 1998 when it was a Wall Street darling.
Phone #: 212.935.6909 . . . if you call, ask for Joan. If Joan is not in, ask for Sherli Looi. If Sherli Looi isn't in, you'll have to leave a voice message in the general mailbox as this outfit would appear to be a two-man operation.
http://gramercycapital.com/bios.html
gramcap@aol.com
info@gramercycapital.com
I think even Matt Harrigan is laughing at this lady . . . .
Great job like always SRK !Quote:
Originally Posted by Sirius Roadkill
Have deliberations begun on Day 3 yet Muscle vs Tyler ?
Yes SXM . . . in fact, the jurors have just wrapped-up 5 straight days of deliberations and are off for the weekend. The jury is now buttoned-up tighter than a clam's ass and we haven't had any more leaks since Juror # 1 was dismissed.Quote:
Originally Posted by sxminvestor
However, I am hearing from sources very close to the case that Savery is considering dismissing his entire legal team, possibly paving the way for an appeal if the pending verdict is unfavorable.
Stay tuned . . . more legal wrangling to come.
What Joan told investors on April 28, 2006:
What Joan told investors on March 25, 2011:Quote:
Last but not least among Sirius' attractions is the presence of Mel Karmazin. Karmazin
launched Stern's career when he ran Infinity Broadcasting, which owned WFAN, Stern's
home in New York. As Karmazin likes to brag, he has made $20 million per year for the
last 20 years. He doesn't need to work. But once Stern jumped to Sirius, Karmazin did,
too.
Karmazin knows more about radio than anyone in the U.S. He is salivating at the
opportunity to sell commercials on the company's talk channels, while vowing that Sirius
will keep its music channels free of commercials. Many analysts are ignoring this source
of revenue, but that is a mistake. One of the knocks on Sirius in the past was its
profligate spending ways. It should also be noted that nobody runs a tighter ship with
regard to expenses than Karmazin does, so those days are over!
My firm has owned Sirius since Karmazin arrived. We haven't made money yet on our
first lot of shares, and we bought more in March at $4.51. We are very patient long-term
investors. I don't know how soon the Street will figure out the value here, but eventually it
will. This isn't a trade, something I don't know how to do.
Come-on everybody . . . sing it with me now . . . you know the tune:Quote:
There is an old expression about “If you put lipstick on a pig, it’s still a pig!” One might ponder the degree to which management of Sirius behaved in a most piggish behavior in 2009. With the stock at $0.43 after the Liberty bounce, huge option grants were given to Karmazin and Frear and others in top management. I’m talking millions of shares here. In my view, it was the bad decisions by these two in particular that were responsible for almost putting the company down for the count.
Maestro . . . Cue the Bongos!
Funny how things can change Joanie . . . . funny how things can change.
Funny how Joanie can change things . . . . funny how Joanie can change.
btw . . . what's my source for that 2006 quote you ask? oh, just a little publication you may have heard of . . . it's called:
thestreet.con
how's dem apples! pretty sour I'd say . . . . much like Joan's grapes
I swear, if ya didn't know better, you'd think I was making this stuff up!
footnote: for those who don't know, I never-ever link to thestreet.con as I refuse to drive traffic to Jimmy's little website
In a research note issued this morning, Matt Harrigan of Wunderlich Securities has downgraded Sirius XM from Hold to Sell while cutting his 1 year price target from $1.65 to $1.64.
Says Harrigan:
Matt Harrigan . . . the Shakiest Analyst in the West!Quote:
The cooler than normal temperatures this morning in the Northeastern United States could keep buyers away from dealer showrooms today, thus having a negative impact on SAAR. We therefore move our opinion from Hold to Sell while cutting our 1 year price target from $1.65 to $1.64. Even if temperatures should warm up later this afternoon, we feel that Siri is fully valued at current levels. Additionally, the very recent invention of the ipod and itunes could shift the competitive landscape near term.
http://www.freesmileys.org/smileys/s...aughing025.gif
This is way better than reading all the other SXM stock market websites combined. I think you might be able to charge a subscription fee for just your posts. lol.
Thanks Lloyd . . . I'm grandfathering-you-in as a free lifetime sub . . . just so long as I get my tickets to the screening!Quote:
Originally Posted by Havakasha