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  1. candleman is offline
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    Joined: Jul 2009 Location: Outer Banks of North Carolina Posts: 1,511
    10-06-2009, 06:44 PM #51
    Quote Originally Posted by billhart22 View Post
    I am Bill. The Gang is many. The location is secret. Click up above on "Sirius XM Satellite Radio Forums"....then click on "Market Watch"...and ~*POOF!*~ you are there. Bring your secret decoder ring.
    Hey Bill, when I joined the club, I didn't get one of those rings. I'm a little pissed!

  2. john is offline
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    10-06-2009, 06:47 PM #52
    Quote Originally Posted by candleman View Post
    Johnny, there is really nothing you could say that would make me change my mind about anything. You have proven time and time again that you don't understand our country and the way we work.

    I'm a happy go lucky sort of a guy and I love having fun with you. You're very entertaining, and if I can get you upset, I'll do it buddy.

    One of these days you may learn that by treating people with respect and dignity, you may be able to change thier mind. But, by calling names and using insults, you do nothing more than to make people laugh at you.

    I've said it before John, you seem like a bright young lad. But, you need to change your approach to solving problems.


    Go watch "Judge Judy" I think you will change your mind. When she calls people idiots, morons, feeble minded, dumb, or tells them not to have anymore kids for fear of spreading their gene pool. She gets laughs at them the reason is she is correct and proven them to be "idiots, morons, feeble minded, and dumb and those people still dont get why she is calling them that, but the rest do. Thats why they are laughing and they are not laughing at Judy.
    Last edited by john; 10-06-2009 at 06:54 PM.

  3. candleman is offline
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    10-06-2009, 07:07 PM #53
    Quote Originally Posted by john View Post
    Go watch "Judge Judy" I think you will change your mind. When she calls people idiots, morons, feeble minded, dumb, or tells them not to have anymore kids for fear of spreading their gene pool. She gets laughs at them the reason is she is correct and proven them to be "idiots, morons, feeble minded, and dumb and those people still dont get why she is calling them that, but the rest do. Thats why they are laughing and they are not laughing at Judy.
    John, I've told you before, that I don't watch TV. I don't live in the TV world, so I don't even know what Judge Judy is.

    I think maybe if you watched a little less TV and spent a bit more time with real people, you wouldn't be so upset with the world. It's really a wonderful place that we live in. Most people respect each other and want to help each other out. You ought to give it a try sometime.

    That's what we do in this community. We help each other become better informed about Sirius and many other stocks and investments. It's a great place here. And most of us don't call each other names. We just agree to disagree and go about our lives. Maybe you will come and join us sometime.

  4. billhart22 is offline
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    10-06-2009, 07:54 PM #54
    Quote Originally Posted by candleman View Post
    Hey Bill, when I joined the club, I didn't get one of those rings. I'm a little pissed!
    You have to buy the "Official" Club cereal with a properly marked package or you could just be S.O.L..

  5. toxdoc is offline
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    Joined: May 2009 Location: Pittsburgh, PA Posts: 38
    10-06-2009, 07:57 PM #55
    I thougth this thread was dedicated to Sirius stock? Why are we talking about Michael Moore and crap that has nothing to do with Sirius right now? The stock has taken a nosedive the past several days and nobody is talking about it. I used to come here to gain insight into Sirius stock from those that have been in the game longer than I and have intelligent facts and opinions to offer. Haven't seen much of that lately.

  6. billhart22 is offline
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    10-07-2009, 09:53 AM #56
    Hey Guys,

    What's shaking with SIRI this morning?

  7. underway is offline
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    10-07-2009, 09:57 AM #57
    tanking due to execs selling shares.....knuckleheads. An overreaction by the market, of course, but, nevertheless, SIRI execs don't have to sell vested restricted shares the minute they vest. Doing so now, in advance of 3Q earnings, is just a lousy thing to do. IMHO

  8. candleman is offline
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    10-07-2009, 10:05 AM #58
    Quote Originally Posted by underway View Post
    tanking due to execs selling shares.....knuckleheads. An overreaction by the market, of course, but, nevertheless, SIRI execs don't have to sell vested restricted shares the minute they vest. Doing so now, in advance of 3Q earnings, is just a lousy thing to do. IMHO
    It's a buying opportunity again. I got more at .517 this morning.

  9. Jworld is offline
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    10-07-2009, 10:09 AM #59
    At this price , it's about time to jump back into the game...............

  10. underway is offline
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    10-07-2009, 10:22 AM #60
    Here's a good article from WSJ. It is accurate and succinctly paints the financial picture. Unlike the A-holes at thestreet.com or motley F, it is well balanced.

    Back From the Brink, Sirius XM Not Yet a Buy By BRETT ARENDS

    Sirius XM Satellite Radio (SIRI) is a popular stock with speculators, day traders and individual investors. It has developed something of a cult following on the bulletin boards. And anyone who managed to grab it last winter, when it traded as low as about a nickel a share, has done well—the stock is now 59 cents, after touching 70 cents a few weeks ago.

    But this is not your ordinary penny stock. Anyone trading it, one way or another, ought to have some idea of what they are buying or selling. But with Sirius XM, it's not immediately clear what the company's really worth.

    At 59 cents, the shares look cheap. But there are vast amounts of shares in existence: 3.88 billion, giving the equity a hefty aggregate market value of $2.26 billion. A consolidation is likely at some point, which would cut the number of shares and raise their average price. Wall Street does not consider penny shares respectable. And Nasdaq listing rules require shares to trade above $1 over time.

    But the common stock is only part of the story.

    More on Satellite Radio
    Sirius XM Executives to Sell Shares
    John Malone's Liberty Media holds 12.5 million shares of preferred stock, in exchange for the emergency capital injection that Liberty provided earlier this year. Preferreds are a peculiar hybrid, neither truly equity nor debt. But Mr. Malone has the right to convert each preferred share into 207 common, or regular, shares. In total, therefore, he holds 2.6 billion shares, which may not be immediately apparent to regular investors. At 59 cents, those would be worth another $1.5 billion.

    And then there is the company's debt: $3.3 billion of it, including various types of bonds with different maturities.

    All told, the full enterprise value of Sirius XM adds up to just over $7 billion. That's a pretty substantial capital structure for a company which had revenues of $591 million and operating expenses of $554 million last quarter.

    On an annualized basis, Sirius XM's enterprise value, or market value of the whole business, is about three times sales. That's expensive by the standards of the U.S. market overall, which has an enterprise value of around 1.6 times annual sales, while the world's markets are on an average of about 1.3 times, according to FactSet. Anyone looking to invest at these levels should proceed with caution.

    Until earlier this year, investers were more worried about Sirius XM's survival than its prospects for growth. Even after Sirius and XM's long-awaited merger last year, the companies were slammed by the downturn. Capital markets dried up for speculative companies just as sales of new cars—which account for a large part of their business—slumped. Meanwhile the quick rise of mobile Web applications—particularly online radio services like Pandora—cast a long shadow over the future of satellite radio. (Sirius XM has since launched an iPhone app of its own.)

    Today analysts are pretty confident the company will make it. Largely thanks to cost cutting, XM has turned cash-flow positive, at least marginally. Standard & Poor's just raised the company's credit rating to B-. That's still well below investment grade, but analyst Hal Diamond says the risk of default "is now the lowest it's ever been" both for the merged company and each predecessor. The 2013 bonds, which were trading at 19 cents on the dollar last Christmas, are now at 91 cents.

    At these prices, the bonds have an annualized yield to maturity of about 12.7%. As long as the company survives without another liquidity crisis, that would be a good deal. (The average yield on comparable single-A rated corporate bonds is currently 3.7%.)

    Caveat emptor, though. Standard & Poor's predicts that Sirius' 2013 bonds, which are unsecured, would only pay out between 10 cents and 30 cents on the dollar should the company default.

    Less chancy, perhaps, are the new 2015 notes issued in August. They are secured: S&P thinks you would get back 90-100% of your money if the ship hits the iceberg after all. The yield to maturity over six years is 9.4%. There are worse investments out there, but as with anything, you should understand the risks.

    Write to Brett Arends at brett.arends@wsj.com

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