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"We are very confident of taking care of the [$270] million in February, and we are confident the banks will extend the maturity in May," says David J. Frear, chief financial officer for Sirius.
I don't read any hidden message here. It sounds clear that everything is fine, will be fine and we don't need splits or dilution or nothing. Just prove it and the price goes up. Despite everything in the news this makes me want to buy, I just hope I don't find money laying around somewhere ;)
Did you see them slide those trades in at .27 and .29?
Crazy manipulation...
now what? .27
I just bought another big chunk of SIRI at .27 - it might go lower, but it's way oversold......
My last buy was at .38 and I thought that was cheap.......
I still have some powder left........
I also just bought some more @ .277. I lost so much that I am past the point of pain.Quote:
Originally Posted by Demian
I believe that this is either a final shake out or a death spiral.
Keysmark
It was like a signal of some sort from a manipulator to others saying,"Yea, I'm gonna sell down here because I know I can buy back at that price, after we drive it down there." And isn't it funny how it's finding support at .27 now.....mmmmmm?Quote:
Originally Posted by Demian
Thought so just needed a little hand holding.
thanks guys
http://industry.bnet.com/technology/...-xm-debt-more/
Tech Roundup: Tata Says Hello US, Arista Gets Heavy Hitters, Sirius XM Debt, More
By Erik Sherman
October 23rd, 2008 @ 6:53 am
"…and all the Sirius XM investors at sea– Early gossip mogul Walter Winchell used the catchphrase “Mr. and Mrs. American and all the ships at sea” in his radio commentaries. On the radio front, it’s currently Sirius XM Radio investors who are at sea. Stock has gone from just under $4 in December to just over 30 cents recently. There’s a billion dollars of debt that comes due next year in a market in which banks don’t even like lending to each other. Maybe the company’s catchphrase should be spelled in three letters: S, O, S."
http://blogcritics.org/archives/2008/10/23/093336.php
"Sirius/XM satellite radio will also be provided encoders for measurement. Although the encoders are free for radio broadcasters, only Arbitron subscribers can use the ratings results for sales or marketing."
Portable People Meter Part Two: Arbitron Encoders and Survey Panel Selection
Written by Radio Coach Sam Weaver
Published October 23, 2008
This is the second installment on the revolutionary electronic measurement method that will change revenues for radio and advertising agencies forever.
The Encoder
To be electronically measured for ratings, radio stations (both Arbitron subscribers and non-subscribers) are eligible to receive free encoders that send out continuous silent audio signals. The Portable People Meters are worn by survey panelists and detect the transmitted inaudible codes. A Radio Broadcast Company has to inform Arbitron on the number of stations owned.
There will be two encoders sent to each station. One will be activated and placed in the transmitter rack; the other serves as a backup. For individual recognition, each station gets an ID code, which is transmitted within the silent audio signal. Upon request, separate encoders will be sent to stations wishing to separately market other forms of digital audio, such as Internet, podcasts, or HD stations. Sirius/XM satellite radio will also be provided encoders for measurement. Although the encoders are free for radio broadcasters, only Arbitron subscribers can use the ratings results for sales or marketing.
Survey Panel Selection
The methodology for selection is the same as for Arbitron's paper diary markets: households are randomly chosen to serve on Portable People Meter panels, with family members referred to as panelists. The socio-demographic composition, age, sex, and race, determine the number of panelists for the sample size of a market. Arbitron uses information provided by the U.S Census Bureau for electronic measurement. Panels are built through the use of zip codes with listed landline phone numbers and cell phone-only households.
(An exception is Houston, where there is also door to door canvassing included in the process. About one third of the entire market panel is chosen in this fashion. There are no current plans to incorporate the same procedure in any other Portable People Meter markets.)
In search of panelists, Arbitron uses an automated system to contact landline households. The automation has a built-in formula to reach unlisted numbers. Since using automation/autodialers to contact cell phones is illegal, Arbitron applies a “brute force” method to find cell phone-only (CPO) households. This means pulling a sample of cell phone numbers, and calling in an attempt to reach someone. When a person answers, the caller asks whether he or she has a landline. If they do not, it is a cell phone-only household, and can later go through the PPM process for possible selection to a panel. However, a more efficient method for finding CPO households is on the horizon for diaries and the Portable People Meter (PPM).
Arbitron's Ed Cohen, Ph.D., Vice President of Research Policy and Communication, says:
“It’s pretty simple. We’ll use an address frame (as we used in Houston PPM). From that, we pull a sample and match as many addresses as possible to landline phone numbers. These addresses are removed. The remainder is sent a short survey with some upfront cash and the promise of more for completing the survey. Those that are CPO become the sample pools. Language is included in the questionnaire that allows us to be in compliance with the Telephone Consumer Protection Act of 1991 (use of autodialers to call known cell phones).
“That’s how we will put CPO into the diary service. We are going to test the same system for PPM and transition PPM CPO to that system assuming no problems.”
Panelists can serve from six months up to two years, and are provided cash and other incentives to participate. Much like in airline mileage programs, points are awarded if certain compliance requirements are met or exceeded. New households are transitioned to replace those phased out or dropped from the panel.
The next series installment will address the meter, panelists' instructions, motion, and listening.
Bought 1600 shares at .29. for $464.00 Rounding up my position to 10k shares. Reduced cost average to $2.57. Whoo Hoo! Roll them bones. What's another $464.00? Chasing good money after bad or a brilliant move.
WRSP is up again today for the fourth day in a row....
They filed chapter 11 BK last week and they have been green all this week while SIRI has been red all week.....
http://blogs.barrons.com/techtraderd...lenews_barrons
October 23, 2008, 11:50 am
Sirius: Yet Another New Low, As Liquidity Worries Intesify
Posted by Eric Savitz
Sirius XM (SIRI) shares have reached another new low, as concerns about the company’s balance sheet continue to grow.
Adding fuel to the already raging fire: a Business Week story which notes that the company has a $1 billion in debt coming due in 2009, but not enough cash to pay it off. The story says Sirius believes it can avoid bankruptcy, but the shares increasingly trade as if all of the company’s value is in the hands of its debt holders.
SIRI today is down 4 cents, or 11.5%, to 28 cents, dropping the company’s market cap to $890 million.
had $35 in the account, bought another 90 shares, oh well, throw it all in....
SIRI just hit a new low of .26.
Please tell me someone thinks that it's worth more than a quarter a share...
SIRI is now down over 90% from the $2.68 it reached on July 23'rd.......
Down over 90% in 3 months????????????
How does this happen?
Another worthless article from the Motley Fool......
http://www.fool.com/investing/high-g...-xm-radio.aspx
Let's Save Sirius XM Radio
By Rick Aristotle Munarriz October 23, 200
"Let's try something different," I wrote last week. "What will it take to make Sirius XM Radio a winning investment? The question isn't rhetorical. Kick in with your thoughts on what can turn things around for Sirius. I'll be back in a few days to go over some of the best responses."
You certainly chimed in, nearly three dozen responses deep. As promised, I'm back to go over a few of the more compelling responses. With shares of Sirius XM Radio (Nasdaq: SIRI) hitting a new all-time low this morning, I think we better get started on righting this ship before it's too late.
Show us the money, Mel
tmph1 writes:
Time for Mel to move fast with the new financing structure and not general statements that he is confident it can be done. Investors are not as confident, will it be done and how?
Definitely. Sirius has three debt repayment milestones to tackle next year, and they're all huge.
A $300 million Sirius convertible is due in February.
$350 million in XM bank debt must be repaid come May.
A $400 million XM convertible is due in December.
Until the company secures the funds to clear all three hurdles, the market is going to fear the worst.
Ad it up, Mel
JasonMcCann writes:
Some factors I have never heard being talked about:
1) Double the satellites (post-merger) = double the bandwidth! More TV channels, and how about Internet capabilities? Mobile hotspot anyone?
2) Marginal increases of the ad revenue dollar -- 10 million subs is nothing to shake a stick at but 20 million will grab the attention of advertising heavyweights.
Doubling the bandwidth will become a greater selling point once interoperable receivers come out, capable of receiving both XM and Sirius. For now, the company is limited to offering up a sliver of the more popular channels from one service on vacant channels of the other as a smart upcharge service. Since the company can't replace the roughly 19 million hamstrung receivers already in the market that can only receive XM or Sirius, it will be limited in its upgrade.
The ad revenue potential is an even bigger head-scratcher. As an old-school radio guy, CEO Mel Karmazin should know how to milk ad revenue from broadcasting better than just about anybody. It hasn't happened here. In fact, it's actually going the other way. In the second quarter, Sirius ad revenue per subscriber clocked in at a measly $0.32 during the period. It was at $0.45 per member a year earlier. Naturally the commercial-free music channels are a big draw to premium radio, but if Sirius XM is going to sell ad space on its other content channels, it really needs to get on the ball here.
Is it a tough environment to smoke out sponsors? Sure, but even Six Flags (NYSE: SIX) has been able to milk more out of turnstile clicks by generating more ad revenue. It can even brand its commercial-free music channels the way that XM once did with Starbucks (Nasdaq: SBUX), only this time with some real money flowing in the satellite radio giant's direction. Now that XM and Sirius are closing in on 20 million subs, why can't specialty retailers like Hot Topic (Nasdaq: HOTT) or Zumiez (Nasdaq: ZUMZ) sponsor an alternative rock channel? Pick any of the dozens of commercial-free channels and I'm sure you can come up with several potential naming right opportunities.
In with the new
K444fool writes:
With an extremely aggressive marketing/advertising campaign, the XMp3 could easily be perceived as the MUST HAVE tech-toy gift for this holiday season for baby boomers.
A hot new product can certainly kick a company out of the doldrums. The way that XM and Sirius have struggled outside of the car dealerships in moving new receivers, a retail hit would be huge.
XM and Sirius have put out promising portable players like Inno, Stiletto, and S50 in the past. The problem is that they have been dwarfed by the popularity of Apple's (Nasdaq: AAPL) iPod as a cheaper solution. Since the iPod touch offers free Wi-Fi access to radio and music discovery sites like CBS' (NYSE: CBS) Last.fm, AOL Music, and Pandora, it's hard to justify a $280 XMp3 purchase that's tethered to a monthly subscription plan. Marketing can distort the value perception, but this is probably not the best holiday season to peddle a premium subscription-based gadget, even if it certainly has the right ingredients to work in a kinder climate.
You still have more to say
I'm just scratching the surface with some of your great responses. I'll be back in a few days to tackle the rest of the killer suggestions to get Sirius XM Radio on track.
In the meantime, feel free to post other comments on what you think it will take to get Sirius XM back into the market's good graces.
I can't believe SIRI just hit a new low of .25 !!!!!!!!!!!!!!!!!!!!!!!!!!!
What the hell is going on?
Is this stock worth anything?
Who is selling down here?
**sigh**
I actually wanted to take advantage of this price and buy more shares, going against my previous plan of waiting until Q3 CC.
Made a deposit to my Scottrade account, and lo and behold, you cannot buy a stock under $4 on the same day as you make a deposit. I will have to wait for 3 days before my funds are available. I just know Sirius is going to rally on Friday, gain 10-15%, and I will be out that gain. That pisses me off. I guess my last few purchases that I made when I deposited on the same day were of XMSR before the merger, so I never had the problem of being under $4 before.
Maybe Brandon is right... maybe a reverse split isnt so bad (AFTER financing is achieved). There are just too many restrictions on "penny stocks" to frustrate investors.
Newman,Quote:
Originally Posted by Newman
How did you deposit the money? The restrictions are different depending on how the money was deposited. A wire transfer from your bank account doesn't have this restriction as far as I know, but it has to be the kind of wire transfer that you have to go into the bank to do - not the online one.
Prediction - .25 was the low and it will not be broken.....
It was an ACH deposit. ACH deposits are usally instant, but apparently for stock transactions, it has to CLEAR the bank before you can use it for investing. Also, they could not dig into my margin account because of the stock price of course.
I was trying to place my buy at $0.25 when a ton of shares were trading at that level... I agree, I don't think it will go lower than that.