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  1. J56D is offline
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    Joined: Jul 2008 Posts: 173
    11-10-2008, 10:48 PM #1

    CC Transcript

  2. Demian is offline
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    Joined: Oct 2008 Posts: 2,320
    11-10-2008, 11:20 PM #2
    Why wasn't Wienkes on the call?

  3. Demian is offline
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    11-10-2008, 11:22 PM #3
    Tuna Anobi - Standard & Poor's

    Great. Lastly Mel, I have a question for you. One of the things I keep hearing, and I know that you have made it very clear that you are optimistic about the refinancing. The question keeps coming back, what is the Plan B here, because obviously you are not able to provide 100% assurance.

    So that begs the question, what if this, particularly the near term maturity, the 210 that you talked about of the other 300 coming up, if things do not pan as you planned, are you going to perhaps significantly at? I do not know how much equity dilution that you can tolerate given all of these scenarios, or what other plans do you have on the back burner?

    Mel Karmazin

    I think you saw that we had $300 million of maturities due. We are now at approximately $210 million of maturities due. I told you that we have had discussions with lenders. We remain optimistic. I really do not want to get into any hypothetical. The company remains confident that we will in short order get the February '09 refinancing done.

    Tuna Anobi - Standard & Poor's

    Okay, fair enough. Thank you and good luck.
    Last edited by Demian; 11-10-2008 at 11:30 PM.

  4. Demian is offline
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    11-10-2008, 11:30 PM #4
    Mel Karmazin:

    "I think anybody that is not cautious in providing guidance to investors in this environment is foolish, and obviously based on the facts that we get everyday, we continue to run our business in a very prudent way.

    One last thing that I would like to say and that is that, our shareholders have begun to receive proxies for our annual meeting on December 18.

    We have asked shareholders to authorize a reverse stock split, should the Board of Directors decide to do one. Our interest in a reverse split is motivated by requirements of NASDAQ for us to remain a listed company.

    We also ask shareholders to provide the company with the authorization for additional shares. The merger with XM and the low stock price eliminated the cushion we had in authorized shares. We expect that our shareholders will approve these management and Board of Directors supported proposals."

  5. TSavery is offline
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    Joined: Jun 2007 Posts: 524
    11-11-2008, 03:15 AM #5


    The company hosting the call can typically control who gets to ask questions and who does not.

    I would never expect Sirius XM to call on Wienkes
    Tyler Savery
    Satellite Standard Founder