Received email today for voting on the SIRUS XM changes that the Mel and company want to make. If you are a share holder, its your obligation to vote on these changes. Takes only minutes of you time. It's time to voice your opinions.
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Received email today for voting on the SIRUS XM changes that the Mel and company want to make. If you are a share holder, its your obligation to vote on these changes. Takes only minutes of you time. It's time to voice your opinions.
anyone have any information on the below people they would like to share prior to my votes being cast? I'd like to be informed before i end up voting for some jerkoff.
1) JOAN L. AMBLE 2) LEON D. BLACK 3) LAWRENCE F. GILBERTI
4) EDDY W. HARTENSTEIN 5) JAMES P. HOLDEN 6) CHESTER A. HUBER, JR.
7) MEL KARMAZIN 8) JOHN W. MENDEL 9) JAMES F. MOONEY
10) GARY M. PARSONS 11) JACK SHAW 12) JEFFREY D. ZIENTS
My vote has been cast.
I voted them all OUT and against R/S and dilution. Only approved the Accountant change.
For those voting no on th R/S, remember this... if Sirius isn't able to get the stock above $1 in the next 6 months -- you'll all be wishing you had voted yes on the measure.
I voted !!!:thumbup:
no on r/s :annoyed:
no on dillution :eek:
and yes on the directed :cool:
I voted no on the board. No on dilution and No on the RS. I am doubtful that the board will be affected by my vote. That is a protest vote. I am doubtful also about the dilution and RS being stopped by the votes of the retail holders. Most will not vote. Not voting is a vote in favor. Right?
If SIRI can't get the SP above a dollar in six months, then it is a hopeless case. A RS will kill the small retail holders.
Voted no for R/S and no for dilution
At least with a R/S you have some equity left. If they're delisted, it's a penny stock and your equity would take a bigger hit. Which do you prefer. It's not an ideal situation, but it's the lesser of two evils.
Those of you who are thinking that the R/S is for anything other than to prevent delisting, have lost touch with reality. Sorry, but you've been sipping the Hartleib cool-aide.
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Keep this in mind, for those thinking that with a R/S that the pps will cause a bigger hit afterwards to your equity... this stock is already well below its FAIR VALUE.
So you're making an assumption that the Market Cap will shrink even further below the fair value... sorry, but I disagree. When the cap was above the Fair Value, I did agree with you -- but since it's dropped so much, I don't agree anymore. At $0.26, there is very little left to lose.
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I will be waiting to hear the conference call on monday to decide how to vote. If they refinance all/most of 2009 debt, there will be no need for RS. I HATE the idea of of a RS, but as homer states, it is the lesser of two evils.
If the reverse split is voted down, and they continue to trade under $1, the company will HAVE to spend money for a special meeting to vote on it again. (It woud be their feduciary responsibility to try again after all other options have fallen through).
If it makes any difference, I just bought more shares at 0.26 (was hoping for 0.25, but decided I wanted in before the conference call, just in case)
Do you think we will hear anything substantial about the refinancing of the debt on Monday? or will it be more of the vague stuff, we are in discussions etc etc. I believe it will be the later and we will not know much beyond what we know today.
howzzat: I HOPE we hear something about financing, but as homer has mentioned, most banks only got those numbers yesterday, just like us. They have to read over all of the stuff and make a decision. There may be multiple banks looking at the information, hopefully starting a bidding war for the lowest interest rate. If nothing else, I hope to hear something to the effect of "we are in final stages of discussions with banks". I am HOPEING that he is not waiting for the annual meeting to get the additional shares to issue more converts, but that is a possibility as well.
I will definately vote yes for the additional shares, but the R/S I am not sure about. I will probably vote yes just to give them the option in case of emergency, but I hate that thought....
I'm with Newman on this one. Monday is not too long to wait to vote. I hate this crap as much as the next Buzzer, but we need the latest information possible before making a critical decision about which way to vote.
We retail types no doubt have shares that carry WAY less weight than our more deep pocketed fellow stockholders at institution level--but remember the mouse that roared?
Also, I read an interesting piece in the Chicago paper today at this link that covers the Goss take and pretty well summarizes SIRI's and the company's plight: http://www.chicagotribune.com/busine...,1725015.story
I will need to re-read my proxy vote instructions to be clear on how long I can wait to cast my votes on the measures. I have no problem with those that voted early on conviction; however, remember there are many unknowns remaining between now and the shareholder meeting.... IMHO
Long SIRI
I will wait to vote until next CC to see the attitude of MEL and the state of affairs.
PMO
Thanks for the3 chicago trib article...very interesting... seems the writer has faith in our company.
Emotions are a horrible thing to allow to enter into the voting process.
Homer...
The reason I am voting no is not based on emotion. It is based on the performance of the mangement of SiriusXM related to the stock price.
If the mangement can service the Feb note now, and or the May Dec notes with favorable fianancing, the stock price will rise. The need for additional shares or a RS will probably be mute.
If they have the power on hand to do a RS and or to issue more shares, as a way to bail themselves out again, the result besides the dilution will be a shorting frenzy faster then the one we just had that will just drive the stock back down again, and this will occur after the RS.
Like it or not, at some point SiriusXM mangement needs to bring this company to profitability.
You do that by reducing operating costs, re-negoiate content contracts for reductions, increasing advertising spending in the retail market, cutting any and all bonuses cash or stock for all employees especially top mangement, until the company is profitable.
You have to get tough, and I mean really tough.
If SiriusXM mangement wants to continue to dilute the company, can't get favorable loans, needs to do a RS and or issue more shares, It really will be time for the stockholders to request the resignatation of Mel and some members of his team and bring in new mangement that can take this Growing company to profitability.
imho
vaporgold