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PR from SIRIUS....
http://www.prnewswire.com/cgi-bin/st...4908464&EDATE=
Coach K Returns for Fourth Season on Sirius XM Radio Tonight
Legendary Duke basketball coach Mike Krzyzewski will host his weekly
talk show, 'Basketball and Beyond with Coach K,' available nationwide on XM
and SIRIUS
NEW YORK, Oct. 21 /PRNewswire-FirstCall/ -- SIRIUS XM Radio (Nasdaq:
SIRI) announced today that Mike Krzyzewski, the legendary head coach of the Duke University and U.S. Men's Olympic basketball teams, will return to
host his exclusive weekly talk show, Basketball and Beyond with Coach K.
The show's fourth season tips off tonight, October 21 (7:00-8:00 pm ET),
and airs nationwide on XM channel 144 and SIRIUS channel 123.
Every week, Basketball and Beyond with Coach K will feature discussions on a wide array of topical issues, covering the state of college basketball and
showcasing Krzyzewski's personal perspective on principles for life on and
off the court. Coach K and his returning co-host, Dave Sims, will interview
a variety of special guests, including business leaders, entertainers,
coaches and athletes.
Jerry Colangelo, the managing director of USA Basketball's Men's Senior
National Team program for the past three years, will be the guest on the
2008 debut show October 21.
"Dave and I have had a lot of fun with this show the last three years,
talking about basketball, business and many other topics," said Krzyzewski.
"I'm thrilled that this year our audience has grown to include both XM and
SIRIUS subscribers and I look forward to giving our listeners an
entertaining and enriching show about life on the court and off."
Krzyzewski has one of the top coaching resumes of all-time. In 33 years
as a head coach, Coach K compiled a 803-267 record, led Duke to three NCAA Championships (1991, 1992 and 2001), guided the Blue Devils to 10 Final Four appearances, developed 20 All-Americas and mentored seven National Players of the Year. The Blue Devils, who have been ranked No. 1 in 12 different seasons, have won 11 Atlantic Coast Conference regular season titles and 10 ACC Tournament championships.
From 2006-08, Krzyzewski served as head coach of the USA Basketball
Men's Senior National Team program. With Coach K at the helm the "Redeem Team" captured gold at the 2008 Summer Olympic Games in Beijing. The squad recorded a perfect 8-0 record in the Olympics, averaging 106 points per game and winning by an average margin of 27.9 points. Krzyzewski was inducted in the Naismith Basketball Hall of Fame on October 5, 2001. He has co-written four books, including "Leading with the Heart," which reached the New York Times best-seller list in 2000.
Sims, the show's co-host and a two-time Emmy Award winner, is a veteran broadcaster with experience hosting talk shows, calling play-by-play, and anchoring and reporting sports news. Sims continues to serve as a
play-by-play announcer for NFL and college basketball games, including NCAA Tournament games, on national television and radio. He is also the TV
play-by-play voice of MLB's Seattle Mariners.
In addition to Coach K's program, SIRIUS XM carries live play-by-play
coverage of Duke basketball games throughout the season. SIRIUS XM's
college sports coverage includes basketball and football games from the
ACC, SEC, Pac-10, Big 12, Big Ten, Big East and a variety of other NCAA
Division I conferences. For a schedule of college games on SIRIUS and XM
visit http://www.sirius.com and http://www.xmradio.com.
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SIRI actually looks like it's trying to go green and is trading at .3799 - can it take off today?
The Dow is down over 200..........
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http://biz.yahoo.com/rb/081021/busin...ings.html?.v=2
Reuters
Nasdaq overlooks own rule to rescue bruised stocks
Tuesday October 21, 1:58 pm ET
By Jonathan Spicer
NEW YORK (Reuters) - The Nasdaq Stock Market's decision to suspend one of its own listing rules comes as an avalanche of shares tumble below the $1 threshold, and is intended to avoid the mass delistings that followed the burst of the dot-com bubble.
Last week, parent company Nasdaq OMX Group (NasdaqGS:NDAQ - News) filed a request with the U.S. Securities and Exchange Commission to temporarily suspend the minimum price requirement that protects listed companies from becoming penny stocks.
It said in the filing that "U.S. and world financial markets have faced almost unprecedented turmoil," which has undercut the share prices of companies that would otherwise remain suitable for continued listing.
The SEC endorsed the suspension, which went into effect on Friday and will end Friday January 16.
Magnus Bocker, Nasdaq's president, told Reuters the measure is "a very natural thing when the market is in disarray like it is right now."
"We saw the same things following September 11. There is so much uncertainty in the equity markets right now for so many companies, that focusing short-term on that rule is just the wrong focus," he said in an interview.
Nasdaq, traditionally home to technology stocks but now more diversified, said in the filing that the number of stocks falling below $1 has increased "dramatically" from last year, particularly this month.
At the end of September, 227 securities were penny stocks, up from 64 at the same time last year, the exchange said. By October 9, the number had jumped to 344.
Among the Nasdaq's new penny stocks, satellite radio company Sirius XM Radio Inc (NasdaqGS:SIRI - News) said it is considering a reverse stock split, which would double its share price while halving the number of shares.
On the rival New York Stock Exchange, drugstore chain Rite Aid Corp (NYSE:RAD - News), retailer Circuit City Stores Inc (NYSE:CC - News), and Internet-based calling firm Vonage Holdings Corp (NYSE:VG - News) all recently dipped below the $1 level. They now trade on NYSE's small-cap Arca platform.
Glenn Tyranski, senior vice president of financial compliance at NYSE Regulation, the arm's length regulatory arm at exchange parent NYSE Euronext (NYSE:NYX - News), said about 20 listings are below the minimum price requirement.
But NYSE is not now considering suspending its price requirement, he told Reuters. "It's more than we've had previously, but we don't have that wave of people that are tripping the (requirement) yet."
ANOTHER CRISIS, ANOTHER SUSPENSION
While NYSE has never suspended its price requirements, Nasdaq did so shortly after the September 11, 2001 attacks on the United States, in an effort to keep plunging stocks on the public market.
That suspension also came amid the stock market downturn caused by tumbling tech stocks, or the bursting of the "dot-com bubble," which swelled to its maximum size in 2000. Scores of Internet companies were wiped out over the next two years, badly shaking the tech-heavy Nasdaq.
Although the current crisis is centered on the financial sector, the exchange wants to avoid a similar exodus of listings, from which it derives about 16 percent of overall revenue.
Diego Perfumo, analyst at Equity Research Desk, a Connecticut-based advisory firm specializing in exchanges, said the rule suspension protects companies with "sound business models that are trading below their fundamental value."
"This measure removes additional selling pressures on the stock from institutional investors that have a positive view of the long term prospects but are only allowed to invest in 'listed' companies," Perfumo said.
As of September 30, Nasdaq had delisted about twice as many stocks as it had in the same period last year, according to data from the exchange.
The two dominant U.S. exchanges have slightly different price requirements.
On the larger NYSE, a listed companies whose average closing price dips below $1 in the last 30 days receives a warning that it must boost its share price within 6 months or face delisting. On the Nasdaq, companies receive the warning when they close below $1 for 30 consecutive days.
After the suspension, Nasdaq said it would reevaluate the share prices of its listed companies based on January 19, 2009 data.
(Reporting by Jonathan Spicer, editing by Gerald E. McCormick)
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Wow, it almost seems like there is an orchestrated effort to bring this company down......the hits just keep on coming.
http://mobilitysite.com/2008/10/xmsi...cks-seriously/
XM/Sirius Merger Sucks Seriously
Posted by Tim Hillebrand on 10/21/08 in General
When I first learned of the impending merger of Sirius and XM satellite radio companies, I feared that my investment in equipment and subscriptions would be adversely affected. Accordingly, I contacted both companies and was assured that the functionality of my equipment would be protected. I was also assured that the prices would not increase because of a monopoly and that I would experience greater programming benefits from the merger.
I more or less dismissed it as a non-issue and continued to pay for dual subscriptions. My car has Sirius and so does our bedroom. My wife’s car has XM and so does my office. That involves four radios and two subscriptions with two reduced rate secondary subscriptions.
This morning I received an email announcing that I could now get the best of Sirius on XM. The best of Sirius was described as Howard Stern, NFL, Martha Steward, NASCAR, and Playboy Radio. Let me assure you that I would never in a million years waste my time listening to any of the “best of Sirius.”
Curious, I called XM to see how the merger had actually affected me. What I learned is that while the merger had transpired successfully, XM and Sirius virtually remain two separate companies because of conflicting technology. That means that I must continue to maintain separate subscriptions to support my radios instead of being able to merge my accounts into a single account, which I had been promised would happen. There is no programming advance and no merging of content other than the so-called “best of Sirius,” which, as far as I’m concerned is a joke.
Nice going FCC. You really protected the consumer’s interest by creating this monopoly. I can’t wait for the price gouging to begin. This will probably soon be followed by discontinuing one form of technology creating the obsolescence of one platform over the other without compensation. Keep up the good work FCC.
FCC has created a monopoly with the merger of XM and Sirius. As a result, I must continue to maintain separate Sirius and XM accounts instead of merging them into a single account. There is absolutely no benefit whatsoever for the consumer as a result of this ill-advised merger.
If you also feel that there is cause for concern, I suggest that you visit ConsumerAffairs.com where you can voice your complaint and experience. https://www.consumeraffairs.com/CA/do_datarpt.php
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http://www.efluxmedia.com/news_The_U...pix_27131.html
The Unbelievably Smart Samsung Epix
"Customers can also access AT&T Mobile Music for music content, including subscriptions from Napster Mobile and XM Radio Mobile."
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One hour to go......
SIRI trading less than a penny down at about .38 with the market having crawled back off of it's lows but still down.
Dow down 54..........
Pray .36 holds..........
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Oh ****......
http://www.streetinsider.com/Downgra...s/4083628.html
JANCO Downgrades SIRIUS XM Radio (SIRI), Citing Management's Inconsistent Actions
October 21, 2008 2:48 PM EDT
JANCO downgrades SIRIUS XM Radio Inc. (Nasdaq: SIRI) Buy to Market Perform, citing significant uncertainties in the market place and concerns about management's inconsistent actions.
JANCO noted that SIRI converted $30 million of 2009 debt at $0.45 per share, inconsistent with comments by CEO Mel Karmazin that he was confident that he will be able to refinance the $1 billion of debt due in 2009. The firm commented, "SIRI historically has stated that they did not want to dilute the existing shareholders with an equity raise. In addition, we were of the understanding that SIRI was going to wait to disclose third quarter results as well as possibly fourth quarter subscriber additions before they actually went to the debt markets. We thought if the results showed progress, it maybe a more opportunistic time to raise the debt. We have to admit that SIRI's recent moves have surprised us, especially before the third quarter earnings release, and not necessarily consistent with previous statements."
JANCO also notes that SIRI's preliminary proxy sounds alarms of dilution and a reverse stock split. The firm said historically, reverse splits have caused overall declines in value.
JANCO also said there is still the possibility of another capital raise in 2009.
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SIRI finding support and bouncing off of .37 again, as it did earlier......anemic volume of only 25.8 million.
Pray they don't try to take it to the woodshed below .36 into the close.....
Pray!
Market selling off sharply now......SIRI seems to be holding .37.
Pray!
SIRI just bounced off of .36.
Pray!
Are you praying?
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http://biz.yahoo.com/ap/081021/financial_meltdown.html
AP
Fed makes new move to help bust credit logjam
Tuesday October 21, 1:17 pm ET
By Martin Crutsinger and Jeannine Aversa, AP Economics Writers
Fed announces new plan to help money market funds, thaw frozen credit
WASHINGTON (AP) -- The Federal Reserve on Tuesday introduced a new program to finance the purchases of assets from money market mutual funds as the government continued to search for ways to battle a severe credit crisis.
"The short-term debt markets have been under considerable strain in recent weeks as money market mutual funds and other investors have had difficulty selling assets to satisfy redemption requests," the Fed said in an announcement of its new effort.
JPMorgan Chase & Co. was chosen to run five special funds that will buy certificates of deposit, bank notes and commercial paper from money market mutual funds. The Fed will lend up to $540 billion to the five funds to support the effort.
Fed officials said that about $500 billion had flowed out of prime money-market funds since August as investors began to worry about their ability to redeem their investments. On Sept. 18, the Treasury Department announced it was tapping a $50 billion Treasury fund to provide guarantees for the assets in the funds. The new Fed initiative is designed to bolster the funds further.
Meanwhile, the Treasury Department announced Tuesday that it had selected two major accounting firms to help manage the government's $700 billion rescue program for the financial system.
The department selected Pricewaterhouse Coopers to be an auditor for the program that will purchase troubled assets from financial institutions while Ernst & Young was chose to provide general accounting support.
Those announcements came as the House Financial Services Committee held a hearing Tuesday in which experts discussed what needs to be done to improve the government's regulatory structure. The aim is to find a way to better manage the financial system to prevent another financial crisis.
Democrats in Congress were also pushing ahead with efforts to assemble a second economic stimulus program. That effort got a timely endorsement on Monday from Federal Reserve Chairman Ben Bernanke.
Wall Street pulled back Tuesday as investors decided to cash in some of the big gains of the previous session. The Dow Jones industrial average was down 245 points in early afternoon trading, a retreat following a gain of 413 points on Monday.
The credit markets made more moves to mount a recovery following the severe disruptions that began in mid-September with the bankruptcy filing of Lehman Brothers Holdings Inc. Rates on loans between banks and yields on Treasury bills returned to their levels of late September.
The White House said Monday that President Bush was at least willing to consider a second stimulus measure to follow a $168 billion program passed in February and a $700 billion financial system rescue plan passed on Oct. 3.
Democrats say any stimulus bill would include items previously rejected by Bush such as road and bridge construction money and help for state budgets. Another round of tax rebates is possible, too, to make the measure big enough to jolt the economy, which many economists think has already slipped into recession.
Sen. Charles Schumer, D-N.Y., predicted Congress would return after Election Day to work on a measure equal to or exceeding February's $168 billion stimulus package, which included $600 tax rebates for most individuals and tax breaks for businesses.
Despite the new momentum, action in November is by no means certain. There's a narrow window between the elections and Thanksgiving, and the results of the elections are likely to affect both sides' willingness to bargain.
Democrats hope Bernanke's endorsement will help bring Bush around, and they predicted that congressional Republicans would warm to the idea as well. Bush has been strictly opposed to Democratic proposals such as infrastructure projects.
"We're continuing to have conversations with members of Congress, and we're open to ideas that they would put forward ... that would stimulate the economy and help us pull out of this downturn faster," White House press secretary Dana Perino said Monday, shortly after Bernanke endorsed the need for a fresh and "significant" round of government action.
"What we've seen put forward so far by the leaders in Congress, the Democrats, were elements of a package that we did not think would actually stimulate the economy," Perino added.
House Speaker Nancy Pelosi of California and fellow congressional Democrats are pushing a package that could cost as much as $150 billion or more.
As part of that package, Pelosi wants to resurrect a $61 billion House-passed measure that included about $37 billion in public works spending, $6 billion to extend jobless benefits, $15 billion to help states pay their Medicaid bills and $3 billion in food stamp assistance for the poor.
Democrats also are considering a second round of tax rebates to follow the $600-$1,200 checks most individuals and couples got earlier this year. That money, going directly to consumers in hopes they would spend it, could push the price tag much higher.
As the value of their homes, pension funds and other investments has dropped in the past year, consumers have become more reluctant to spend. Consumer spending makes up more than two-thirds of the economy. When spending declines, it forces businesses to either stop hiring or cut jobs.
Unemployment now stands at 6.1 percent. Economists predict it could go as high as 7.5 percent in 2009.
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Half an hour to go......
The market has been selling off sharply the last few minutes...
SIRI bounced off of .36 twice now - trading at .37 now.......
Pray that they don't smash it under .36 into the close.....
Pray now!
