We will all find out between this week & March 1st. One way or another, I hope this doesn't go on until the end of the year, you know, one hurdle at a time.
:cursing:
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We will all find out between this week & March 1st. One way or another, I hope this doesn't go on until the end of the year, you know, one hurdle at a time.
:cursing:
goat = Greatest of All Time?
Ok, the report is that Mel had a chance to sell out late last year. If that was true, and he said no, he better be confident that the next 18 months is done and dusted. In other words, he had to be confident that the forward debt was going to be paid, right?
Lets consider that Mel, the salesman he is, actually is a dummy and has no idea how to run a company. How about a company that has serious needs, a challenging venture company, not one that is on cruise control. Let us say that is the case, eventhough we know its not, and let us assume that the rest of the management are dummies too! Hey, I know that there are a great number of things that I don't know, but if I had a million dollars to invest in my company, I know exactly what I would do. That's right, I know exactly what I would do. First, I would call Jack (former GE CEO), then I would call Eisner (former Disney), and on and on. I could probably get a lot of them to talk to me for free. Their lonely! I would get every great piece of advice that I could for free at first! Once I exhausted that chain I would get a few financial consultants, the best in the business. I would lock them up in a room and with the best admin assistants, we would not leave until we hammered out every possible scenario. What if this, what if that? We could take on the game plan for the second coming, you know what I mean, right?
Now, we are looking pretty good. Eventhough the game plan changed a little bit, everyone will think we thought it up. Does'nt matter though, because what is important is that we will make the right decisions and give this company the future that it deserves, and at the same time, pay back our shareholders for being there for us when we needed them. Is'nt that a new concept?
Listen people, if I can come up with this Alice in Wonderland story, and I am only a little guy, a small business owner, the big guys surely can, right?
Mel's no dummy, you will see, trust me.
Hero = He Erases Rabid Optimism?
If we get through this mess, this time next year we could be praising him as the GOAT (Romo's version) . Until we get more clarity, I will reserve judgment.
I'm a big Romo fan and he has fumbled things late in the season the last 2 years, so I'm not sure how you praise someone as a GOAT. Hope Mel doesn't follow in his footsteps.Quote:
Originally Posted by Hughes
What's ROMO's version ?
Sirius Xm making cell phones for 2010 ? wow , unlimited possibilities , unlimited.
kiddin , but you never know. i've been gone a while and i thought i would throw some new light into the latest news of SIRI.
You are great.........be part of my team in the R&D department, ok, right!
Sirius make a cellphone??? Yea... that is right up their ally... Maybe Howard Stern can lead the R&D on this one. hahaha
But let's be realistic here. Sirius is way undervalued, IMHO. Does ANYONE think , given 3.5 billion dollars that they could recreate what sirius has here??? Subscribers, content, versatile and powerful infrastructure? HELL NO!
It's not that Sirius isn't extremely valuable, but Sirius is extremely (though we don't know precisely) short on cash to fund short-term obligations. Let's not forget, things look pretty good on the debt front once they get through 2009. Meeting future obligations, post 2009, seem more reasonable given merger synergies and growing cash flow, and the prospect of, shall I say, profitability! PROFITABILITY, I'll say again.
In the short-term they are cash strapped. But all of this can change. We've seen the TED Spread narrow some, which is a positive signal for refinancing 2009 debt. But we are on the heels of a huge stimulus program, which many banks and investors are likely taking a "wait and see" mentality.
It COULD BE, SIrius being a very high profile company, that it may be the landmark refinancing that starts a new wave of corporate capitalization! This news would spread through wall st at an alarming rate -- re moralizing shareholders, sending the message that refinancing is once again viable! We are in a crisis of confidence. I cannot think of a better way to send a new message to Wall St. than via S-Band satellite transmission.
Hope for the best foks. The potential for Sirius is still great. We are, however, in a tough time. But have faith in the management team at Sirius. Mel K has a lot of personal investment riding on the company. He is a wealthy man, but he didn't invest with monopoly money. I believe he will act in the best interest of shareholders.
Perhaps this dog will one day be as Apple; it was a dog but rose to great heights. Keep up the faith.
Echo Satellite Becomes SatMAX Corporation
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* Echo Satellite Becomes SatMAX Corporation
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* Echo Satellite Becomes SatMAX Corporation
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February 2, 2009 5:04 PM EST
HOUSTON--(BUSINESS WIRE)-- The Board of Directors of Echo Satellite Communications, Inc (Other OTC: ECSC), a leading global provider of wireless, non-line-of-sight satellite communications products and services, announced it has approved a change of its corporate name to SatMAX Corporation. The name change comes at the request of EchoStar Corporation (NASDAQ: SATS), which operates a digital set-top box business and a fixed satellite services business.
The SatMAX System creates a satellite communications "hotspot" that enables fully wireless coverage for multiple concurrent users in any non-line-of-sight environment. With the SatMAX System, users of the Iridium satellite network can now use their existing satellite telephones or data terminals to make multiple concurrent calls within SatMAX-enabled "hotspot" areas from anywhere on Earth. SatMAX Corporation is dedicated to providing global wireless, non-line-of-sight, satellite voice and data communications links to government, military, and commercial and industrial customers. Known for our ability to design, implement and commercialize satellite communications technology solutions, SatMAX Corporation has a full array of wireless, non-line-of-sight communications solutions to offer to military, governmental, first responder, and industrial users for whom communication is not optional, it is critical. For more information, please visit www.echosatcom.com; or view or information video at www.angelvisiontech.com/clients/echo_satellite.
Separately, the company announced that, due to the current price of oil, it has suspended the previously announce letter of intent to acquire Xeric Oil & Gas, Inc., pending price recovery.
Non-line of site satellite transmission? Sounds like just what the doctor ordered...
a few posts upQuote:
Originally Posted by sxminvestor
Just checking the patents post, for Satmax and found this
Satellite telecommunications system using network coordinating gateways operative with a terrestrial communication system http://www.google.com/patents?id=B9cfAAAAEBAJ&dq=satmax (emphasis on terrestrial, could be echo looking to use the sirius repeaters, just a guess since it was mentioned)
heres some more look on the bottom left hand side, many links http://www.google.com/patents?id=-6kGAAAAEBAJ&dq=satmax
Just information, do your own research and guesses. I actually have a patent thread over in technology section. If you care to post any findings.
Neither. He is an experienced and savvy sailor who got caught in the perfect storm. I hope he makes it out intact. If Sirius survives he can make it thrive and grow.
Reread that press release. SatMax has absolutely nothing to do with Echostar... Their names were very similar, as was the business, and Echostar (who has a copyright on the name) asked them to change their name, so they did.
There is nothing further going on there.
One thought that jumps out at me regarding Karmazin, Ergen and bankruptcy...
Now that there are somewhat credible reports - reported in the WSJ - that Ergen offered to take over the company last year, and is still interested currently... does this not put Karmazin on the hot seat??? If he elects to allow Sirius to go into bankrupcty restructuring that wipes out the current common holders, then does he not put himself, the management and the BOD in a position for a shareholder lawsuit?
Now I'm not going the Hartleib route here -- just noting, that there are credible reports that Sirius "rebuffed" a takeover offer by Ergen -- and that Ergen is still interested in the takeover WITHOUT bankruptcy...
One things for sure in my mind... if he does let it go bankrupt now -- he's in for a multitude of shareholder lawsuits for not taking the offer and instead, opting for bankruptcy to wipe out the common.
You (especially you Hartleib) think that Sirius management doesn't know this? IMHO, they have no choice but to work something out to refinance or deal with Ergen -- without bankrupcty. Otherwise they face lawsuits.
So, IMHO, there was some positive to come out of this Ergen news of late...
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Here's an interesting write up on Ergen from Answers.com
Check out his dealings with Rupert Murdoch... seems Charlie has attempted this sort of thing in the past.
http://www.answers.com/topic/charlie-ergen
interesting
it may help explain the recent WSJ spin
see: http://www.slate.com/id/2190276/
I have got some inside information and Ergen's only motivation is because he wants to control this particular sat dish. My sources familiar with the situation say that he is prepared to go to any links to get it....
http://farm2.static.flickr.com/1367/...b2e8df.jpg?v=0
Ergen Versus MurdochQuote:
Originally Posted by winagain35
In the early 2000s Ergen clashed frequently with Rupert Murdoch, whose News Corporation was trying to buy Direc-TV from General Motors' Hughes Electronic Corporation. Although Ergen himself attempted several times to put together a group of investors to buy DirecTV, Murdoch outmaneuvered him. Ergen, however, continued to place obstacles in the way of Murdoch's GM deal. While all that was going on, the management of DirecTV became so distracted with the onagain, off-again negotiations that its operations suffered and Ergen was able to pick up large pieces of its market share. Although Ergen ultimately lost DirecTV to Murdoch in 2002, he maneuvered through some of the roughest power plays ever seen in the media industry.