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  1. J56D is offline
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    02-16-2009, 10:24 PM #11
    Quote Originally Posted by Siriusowner View Post
    No is not strange, remember I only own 1000 shares. I am still thinking if it even makes sense to trade (buy more) tomorrow or just leave this issue rest in peace.
    Sorry but I thought you were being sarcastic.

    I have not trusted mel & co in the past and I still do not trust him but now it is what it is. People will sing praises if he pulls this off. This BK cliffhanger is something that should have never been allowed to get this far. The stock is still 9_% lower than when he took control. What reason has there been to trust mel & co?

    April 22, 2005: Share Price: $5.10
    Sirius Satellite Radio's ad revenue will rocket from $1 million to $100 million by 2007, CEO Mel Karmazin predicts, turning one of the hottest consumer electronics segments into one of the fastest-growing advertising mediums.

    Mr. Karmazin, who recently hired two veteran radio executives to build a sales force, said Sirius will record ad revenue of up to $8 million this year, $50million in 2006 and $100 million by 2007.
    Last edited by J56D; 02-16-2009 at 10:37 PM.

  2. m4svt is offline
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    02-16-2009, 10:27 PM #12
    Quote Originally Posted by Siriusowner View Post
    You are not surprised if they declare BK ? Why ? If Mel is good business man and he knows Radio I would be highly surprised if they declared BK.
    It's not a question if he's a good business man, or if he knows radio... His history says it all.

    Just look at all the companies that have gone bankrupt, look at all the layoffs... It's a tough environment, companies that were around for years makin cash threw in the towel. We're at 10 cents for a reason, how could you be surprised?

  3. Sworntwofun is offline
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    02-16-2009, 10:27 PM #13
    Why are you all so down on Mel....
    This is one of the biggest and best of all men in this industry.....
    You all seem to forget How far the FCC shoved it up his ASS...
    or how much the start up cost to have a company like Sirius...or XM
    He has always pulled off some of the biggest deals in broadcasting History..
    And this might be another one of those....
    Look at his New partner....Malone this man is big...This is gonna be a good thing! and good things come to those who wait....

    So give the man a F..king Brake....And in a few years you will owe him!

  4. SiriusBuzz is offline
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    02-16-2009, 10:31 PM #14
    To answer the original question....

    I don't necessarily think Mel is a liar or untrustworthy... I do think however that he has proven he is inept. He is a great radio guy but he is a dinosaur at this point. If his ego prevents him from surrounding himself with people who understand new media technology this company will continue to struggle.

    I personally think that the huge growth opportunity has passed them by and that they will have to struggle from this point on to make it. Don't get me wrong, I think it can happen... it's just not going to be easy and its going to take longer then it should.

    If they had done things correctly from the jump... we wouldn't be having this discussion right now.
    Charles LaRocca
    SiriusBuzz Founder

  5. J56D is offline
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    02-16-2009, 10:39 PM #15
    Charles..........

    INEPT.........a perfect description.

  6. doobz26 is offline
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    02-16-2009, 10:49 PM #16
    He may be a good businessman and have a good track record.. but after this debacle I don't trust him with regards to looking out for the best interest of the common shareholder. It is my belief that he would have preferred to run the company through chapter 11 but the creditors are putting the heat on him to take either of the offers on the table.

  7. m4svt is offline
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    02-16-2009, 10:55 PM #17
    Quote Originally Posted by doobz26 View Post
    It is my belief that he would have preferred to run the company through chapter 11 but the creditors are putting the heat on him to take either of the offers on the table.
    Why do you think that?

    I disagree, what would that do for his ego? Ending his career like this? Messing up his track record. Losing his own money, after all he's been thru w/ the merger and stuff? But, guess we gotta wait and see what happens.

  8. JasonL is offline
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    02-16-2009, 11:18 PM #18

    Nice input Charles

    Thank you Charles...
    He was too busy trying to buy competition, new tech has passed him by.
    Many opportunities overlooked, but can still be met with new leadership.
    I trust Mel and his board about as much as I trusted them back in 2007 when i joined this discussion...ZERO
    I like the counter threat by the SIRIXM creditors today I read on Drudge, oust him.
    Out with the bad Karma

  9. Hopeful is offline
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    Joined: Nov 2008 Location: Vancouver Island Canada Posts: 583
    02-16-2009, 11:22 PM #19
    Just curious,

    If Mel comes through tomorrow and saves our asses from BK are you guys still going to be hating on him???

  10. nisvan is offline
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    02-16-2009, 11:25 PM #20
    Charles..........

    INEPT.........a perfect description.
    if you'll recall, when karmazan came on board, xm had more
    subscribers, and a higher market cap

    sirius wooed talent, increased its rate of subscriber acquisition,
    and eventually surpassed xm's subscriber base

    this all took money, lots of money

    much of it had to be borrowed; all the while running a company that was showing no net profit; Not Easy To Do.

    also - who could have foreseen how long it would take the fcc to approve the merger

    who could have foreseen that the merger would even be approved

    then there was that problem with transmitting into other vehicles

    and that little problem with minority companies wanting a big chunk of the spectrum

    and then after merging, discovering XM had this little debt problem

    and yet all the while keeping an affable, optimistic Can Do countenance, while the world's falling apart around you (yes, think Kipling)

    so yeah, give the guy a break. i'm sorry your stock price hasn't been doing as well as you'd like, but on the other hand, it's amazing the company is still here at all, not due to ineptness; but due to 1500 FM stations wanting you dead and gone

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