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  1. trippingthespeculatingpos is offline
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    02-05-2009, 03:51 PM #191
    why it makes sense for echo to do this

    this is not my words but taken from a yahoo post.



    "Echostar is purchasing some of the debt Feb and December. This will alleviate the burden for Sirius to refinance. When the debt matures (very soon) Echostar will refinance with Sirius and issue new convertible debt at a low pps.

    Why doesn't Echostar just buy up shares instead? Because if nobody buys the debt then the company goes bk and the shares are worthless.

    By buying the debt, Echostar is having a call option if the pps goes up and is secure if the company fails.

    Why would Echostar do this? To make money and to hold a large investment in Sirius (convertible debt).

    Why not just bk Sirius and then own the whole thing on the cheap? It doesn't work that way. If you bk Sirius then there is along court battle over assets. Plus, with Echostar owning so much spectrum an with Democrats in office, they would never get approval to buy all of Sirius. A partnership/investment through ownership in debt (soon to be convertible debt) is the best answer."

  2. billhart22 is offline
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    02-05-2009, 03:53 PM #192
    Ya, now it is at .1695......lol

  3. billhart22 is offline
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    02-05-2009, 03:56 PM #193
    Quote Originally Posted by trippingthespeculatingpos View Post
    why it makes sense for echo to do this

    this is not my words but taken from a yahoo post.



    "Echostar is purchasing some of the debt Feb and December. This will alleviate the burden for Sirius to refinance. When the debt matures (very soon) Echostar will refinance with Sirius and issue new convertible debt at a low pps.

    Why doesn't Echostar just buy up shares instead? Because if nobody buys the debt then the company goes bk and the shares are worthless.

    By buying the debt, Echostar is having a call option if the pps goes up and is secure if the company fails.

    Why would Echostar do this? To make money and to hold a large investment in Sirius (convertible debt).

    Why not just bk Sirius and then own the whole thing on the cheap? It doesn't work that way. If you bk Sirius then there is along court battle over assets. Plus, with Echostar owning so much spectrum an with Democrats in office, they would never get approval to buy all of Sirius. A partnership/investment through ownership in debt (soon to be convertible debt) is the best answer."
    Sometimes simple explanations like that are good. Nice job on finding that, Tripps.

  4. Demian is offline
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    02-05-2009, 04:13 PM #194
    http://www.cnbc.com/id/29037328/site...t%7C&par=yahoo

    EchoStar Amasses Sirius XM Debt: Report
    By: By Reuters | 05 Feb 2009 |
    (Reuters) - Charles Ergen's EchoStar Corp. [SATS 15.52 0.12 (+0.78%) ] has quietly accumulated a substantial portion of Sirius XM Satellite Radio Inc.'s [SIRI 0.17 0.03 (+19.79%) ] maturing debt in what could be the first salvo in an attempt to take control of the company, the Wall Street Journal said, citing people familiar with the matter.

    Ergen, who controls a satellite-television empire around Dish Network Corp. and EchoStar, recently acquired part of a $300 million tranche of Sirius debt that matures on February 17, the people told the paper.

    Sirius recently converted part of the debt to equity, reducing the total debt outstanding to about $175 million, according to the paper.

    It is not clear whether Ergen participated in the exchange, the paper said, adding that he could also be buying up senior bank debt, due in May, which trades on the over-the-counter market.

    Echostar could be pursuing a plan to use the debt as a way take control of the company either inside or outside of bankruptcy, the Journal said.

    An EchoStar spokesman declined to comment on the report. Sirius could not be immediately reached for comment by Reuters.

    According to Standard & Poor's, Sirius has $175 million of convertible notes maturing in February, $350 million of secured bank debt due May 2009, and $433 million in convertible notes due December 2009.

    In December, Sirius Chief Executive Mel Karmazin said that while the tight credit market has made it difficult to get optimal terms, he is confident the company can refinance the debt.

  5. BAH-ME. is offline
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    Joined: Feb 2009 Location: Maine Posts: 20
    02-05-2009, 04:39 PM #195

    Your Very Fortunate

    New to this forum, but have been a reader since 7/07. I enjoy the disscusions alot. Bought into siri in 03. I'd never heard of Mel K. at the time. I'm here for the long haul. I've learned alot, too late as my 14k shares average is just under $3.00. I feel that I should buy more but when?
    I don't consider myself a follower, so Mel do your thing and maybe I'll break even someday. Thanx Tyler, Charles, Newman, Brandon and others. You've made sense when things were senseless.

    Long Siri
    Last edited by BAH-ME.; 02-05-2009 at 04:42 PM.

  6. Demian is offline
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    02-05-2009, 05:03 PM #196
    SIRI closed @ .165 on volume of about 151 Million shares traded after reaching a high of .204.......

  7. trippingthespeculatingpos is offline
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    02-05-2009, 05:07 PM #197
    up up and away, will be in the .20's tommorow hopefully

  8. RickF is offline
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    02-05-2009, 05:10 PM #198

    Thumbs up

    Quote Originally Posted by Demian View Post
    SIRI closed @ .165 on volume of about 151 Million shares traded after reaching a high of .204.......
    You Guy's are the best!!! I have learned so much and enjoy trying to figure it all out along with the forum! Demian - I thought the high was .27 today - not that it matters alll that much if it doesn't stay there ... or does it??? I see 27 as the closing high on Nasdaq http://www.nasdaq.com/aspx/nasdaqlas...&selected=SIRI

    THANKS bunches Gang - ALL appendages (spelling??) are crossed!!!

  9. trippingthespeculatingpos is offline
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    02-05-2009, 05:14 PM #199
    4,000,000 shares @ 16.5 huge buying here.

  10. GTSViper is offline
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    Joined: Dec 2008 Posts: 73
    02-05-2009, 06:00 PM #200
    Actually, a trade in premarket did hit .27.

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