Give me a break are we being told the best offer on the table was for a $530mil loan at 15% that gave away 40% of the company this just is not sitting well with me.
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Give me a break are we being told the best offer on the table was for a $530mil loan at 15% that gave away 40% of the company this just is not sitting well with me.
Judging by the performance of the stock today, your not alone.
Do the shareholders ever get to know anything about other offers From what I have read seems that Ergen was offering debt to be paid for stake in siri how is that not better?
liberty is better, just compare dtv to dish, having john malone on our board is going to be huge, i wouldnt be suprised if they rework a deal with malone to lower the interest once he gets a larger stake. It's probaly a way to make sure they take the deal and dont bail out on giving liberty a larger stake in the company. Cause then they are stuck with 15% interest which while it isnt fun to pay i think can be handled, we will know so much more when the next quarterly conference call takes place.
If you are not happy, buy bonds not shares.Quote:
Originally Posted by justsomeguy
Thanks,
A little late now but I did see they were rewarded today.
Along with Malone-40%of company and 15% loan
Mel-got to keep his job
Ergen- made 25-50% on his converts
Shorts- got to cover at awsome returns(or they should have)
And guess who paid the shareholders thats who.
Well, lets see, we (a subscriber based company) just got $530 million loan during the largest US recession in decades when supposedly no one can get a loan.
SIRIUS XM RULES, GO MEL!
This is what we got:a bridge loan is just that ,a bridge to the preferred shares that malone gets when he comes through with the other 250 mil. for dec. notes due. and he pays off XM credit line of 100 mil.now we will issue 2.4 bil additional shares and have 2 bil left unissued.we reverse split 6bil to 600 mil when share price hopefully is .50,that leave 2 bil shares to issue for equity =debt swap in 2011-2012 to take carev of 3bil in debt...Quote:
Originally Posted by justsomeguy
i think but i could be wrong
Just my 2 cents, NO REVERSE SPLIT!!! Unless it is required to meet NASDAQ listing requirements! I know some of you may disagree, again it would defeat my purpose for being in the stock!
So who the hell are you anyway....Echo wanted to give 530mil to take over the whole company....Quote:
Originally Posted by justsomeguy
Stop crying!Quote:
Originally Posted by justsomeguy
I'm pissed about the 40%, but it's no surprise, majority voted yes for the new shares so, here we are. We could have gone the way of Circuit City, Lehman Brothers, Linens n Things, Sharper Image, Steve and Barry's -you get my drift? And I've owned shares (and options:mad:) since '04...
Hey sworn,
Don't think ergen wanted the whole company he was looking for control and I beleilve he was going to retire the debt. no sour grapes just can't beleive this company had to resort to that. do you realze that for every 1bb in market cap he will get $400,000 of that plus the 15% on the 530mm.
My appoligies I just went back through the articles from last week and Ergen was looking for a controling stake and to restructure the debt he held so at this point Mel took the better deal. hate to think that this company is that bad off but I guess its true.
The company is not "that" bad off, but the economy is. If this deal happened 4 years ago, Mel refinances the entire billion for 6.5% and nothing else attatched. Todays economy makes it a miracle he got this kind of money at all... I think it definately says a lot about the confidence these people have in Mel that he had TWO companies batteling for this thing.
It looks like we may be stuck in a .15 to .25 cent range for a while until Sirius handles May debt and/or Dec convertibles.Quote:
Originally Posted by Newman
Since 04' ? You deserve a medal. That is a hell of a lot to go through...KUDOSQuote:
Originally Posted by m4svt
lol, you better believe it. I've bought at $4, $5, $6, $7, $6, $5, $4, $3, $2, and in the teens. And everytime I've said "it's a great time to buy.":DQuote:
Originally Posted by billhart22
true, owning this stock doesn't have a whole lot to do with proper investment strategy; it's gotta be more like a gewy teenage love kind of thing, that makes no practical sense, and you only do it because you have this sappy doomed root for the underdog mentality, combined with a "someday my ship will come in" view of your life - at least that's the boat i think i'm in - not to mention, at some point, the stock had gone so far below the original price i bought at, that it didnt make sense to sell anymore because the proceeds were chump change in comparison to the original cost; one guy wrote, pre-deal, on this board something like, "If the ship's going down, I'm going with it" or something like that, and my all time favorite comment, pre-Liberty deal - I think it was Hopeful - he'd posted/asked, "You buying, selling or holding," and Demian replied: "I'm puking."Quote:
I've bought at $4, $5, $6, $7, $6, $5, $4, $3, $2, and in the teens.