My question is: If GM declares BK, is then the contract SIRI has null and
void, thus enabling SIRI to renegotiate more favorable term?
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My question is: If GM declares BK, is then the contract SIRI has null and
void, thus enabling SIRI to renegotiate more favorable term?
Far as I know.......Yes.......
But GM is not going to file. The current administration is protecting the union and will not allow that to happen.
GM Canada just announced they have reached a deal with the union there. It will be formally announced Monday and could cause a stock bump and some action in the markets by midday.
Wirestripper, I am going to have to disagree with you here. I think they stay the same. Mel has said many times that the contracts are what they are and will not change until they are up. Also in a bankruptcy restructure who here thinks a judge is going to make it tuffer on the company restructuring.
Yeah, I know what he said....."A contract is a contract.....etc...."Quote:
Originally Posted by john
But that's not what happens in a BK court. All contracts are null and void and renegotiated on a need priority basis. Everything changes and nothing changes as it depends on the bean counters.
If there were a structured BK, as has been put forth by many, including myself, Siri's contracts could all be tossed. There are all sorts of in between things that could happen. The judge could decide the deal is good for GM and keep it. Or not.
The point is, SIRI would not instigate anything. It would be done by the court receivers. They would have the ball and they could end it, or force compliance.Unless the contract is violated on GM's side.
All moot, because Pelosi, Dodd and Mr. O will not let the union be damaged. No matter how much it costs taxpayers in the end.
I am currently stocking food and ammo.........:(
IMHO
just sayin.........
With the amount of money that GM pulls via the XM Distribution Agreement, I can't see a bankruptcy judge canceling that contract in a BK hearing. It's too valuable to GM.Quote:
Originally Posted by Wirestripper
Besides, GM has an equity stake in Sirius as well as BOD representation.
Perhaps a willingness to listen to plea for lowering the amount that GM makes from it -- but I don't see a Judge canceling it or changing it, nor do I see GM doing it either.
-------------
"Besides, GM has an equity stake in Sirius as well as BOD representation. "
Thanks Homer! I learn something new everyday here!
You are right, They likely would not void a contract that is good for GM.
But the question was, Could they?
That is what I tried to answer. LOL......
Wirestripper, What the hell was that. Coming from me it was nonsense but when homer says basically the same thing I did, you say, ok your right.
John...Quote:
Originally Posted by john
:p
Quote:
Originally Posted by john
Hang on a sec and I will re-read what both of you said and try to explain........
OK.....John
Here is what I said in my second post.......
"If there were a structured BK, as has been put forth by many, including myself, Siri's contracts could all be tossed. There are all sorts of in between things that could happen. The judge could decide the deal is good for GM and keep it. Or not."
So.......I saw Homers post as basically agreeing with me in a tactful way. I figured we were just arguing semantics anyhoo so I agreed with what Homer said I did not agree with but I already had done so and it really did not matter much cuz we all really agree with most things anyway........Sooooooooo I agreed with Homer.
Did I say a BK was not going to happen?
Bwahahahaha! I can't wait till next week......LOL
Ho Wirestripper, dont make excuses now. Homer knows what just happen, just look at the face he gave me, that says it all.
:eek:
I tried to just post this face, but the forum format say I had to say something.....So I did.....
I think I'll keep my comments limited to ten words or less from this day forward......:D
Wirestripper, thats ok because I just learned the next time I get into a debate with someone, all I have to do is say, hey homer will you tell him/her the samething I just did so we can end this.
Now that ain't entirely true. Homer must have missed my second post cuz I said the same thing he did so I agreed with me.
The thing I am learning about you guys, is that I have to be clear and concise with bullet points...
Anyway, I take it all back and I agree with both of you. But........You said mel would stick to his guns and out of some sense of pride he would never change the contract.
That is what launched me to go into the BK recievership role and the BK Judge. Which you took as a refutation and I meant as a expansion of the point.
So we all agree..........
XXX
I'm so confused now... what did I say?
I'm not all all sure......Quote:
Originally Posted by homer985
To be Frank, I may have fallen into a sarcasm trap;)
I think John was trying to get a rise out of me and I bit....
or, I am being fought over like a bad date.
I am going to clear my cache and reboot! It sucked to be me yesterday but today is another day!:cool:
I have my Wolf avatar back and I'm in the hunt.
Yeah, just being a smartass...
Wirestripper, First dont worry it only takes about 2 years to get to know me. I really was LOL when I saw that after homer post basically the same thing I did that you changed and agreed with him. Next the reason I said what I said about the contract is because I thought you knew GM had a board seat and was not going to just sit there and let them screw them. It was disscussed before by Mel that the contract covers all kinds of things happening. That it does not matter if a change of control happens the contract is still in effect until its conclusion. Then as you know I went into the judge not making it more difficult on the company that was in bankruptcy. (It usually is the other way around.) Now while the words were not the same. It was saying the samething. You have to remember homer is a writer, while I am not as you can tell.
P.S. you see homer already knows.
Quote:
Originally Posted by john
Heh, heh, heh......
I am trying to get comfortable with all of my new friends here. It is often difficult when you are a newbie.
Add to that, that I have one of those type A- personalities where I often don't see the sarcasm and I can be easilly yanked about.....:) I married a woman who has been my partner for 30 years and she balances my act.
It is so much easier when I can read body language and not have to depend on my very limited understanding of the personalities of the posters here. Fortunately, I have been posting on boards like this for several years and I have learned much, but I still need to see faces....:D
Anyhoo.............I really like this place so far, and hope to be around to talk shop and whatever for a long time!
Btw......I am pushin 60, so I ain't no spring chicken.....I am a bit set in my ways but I am still able to learn new tricks. I love trading, even though it has not returned the love. I try to get better and that's why I'm here!
Back to the salt mines!:cool:
LOL, John, funny, just reading this thread for the first time, and thats the exact same thought I had. Looks like you havent "earned your wings" in here yet, LOL:eek:Quote:
Originally Posted by john
Even though I have stopped doubting you(just your macroeconomic views lol,) only after months of poking at ya, give it time. They will all bow to you here too a bunch of numbers.... The bow was a bit of a joke, just teasin ya.
Hi, I think the entire auto-Sirius thing is over stated. It does not matter what company sells cars only what total number sold are. Because Sirius has deals with all of them.
A person who is going to buy a new car is going to buy a new car from someone. What one of our analyst blog writers should explain is what deal Sirius has with each auto company and then we Siri holders can root for the company that returns the most per car sale.
We know at least 10 million cars will be sold in 2009. Sirius has a chance with every car sold. What company gives the best deal.
Title for blog article
"People who buy Hondas (or whatever) also tend to subscribe to Sirius while people who buy xxxx dont"