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  1. Sirius Roadkill is offline
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    02-26-2010, 12:42 AM #101

    Nuance Nonsense!

    Quote Originally Posted by SiriuslyLong View Post
    I'm sorry folks, the link only gets you 10% of the article. I pulled of google finance. Try this.http://www.google.com/finance?client=ig&q=SIRI
    If this article wasn't so pathetic it would be laughable . . . it misses on so many levels.

    Just as an example . . . Comcast (a cable company; the article references cable company P/E ratios as media subscription peers) has a projected EBITDA growth rate of 9.84% for 2010 . . . Sirius has a projected EBITDA growth rate of 20%!! Come-on now, an 8 multiple on a 20% growth rate?? (I guess that "nuance" escaped the author)

    Secondly, the dilutive effect of the Liberty Preferred shares has not been lost on anyone here . . . this has long been baked-in to the share price; in fact, the day Mel stood before shareholders in November 2008 asking for approval to double the share count is the day it got baked-in, as most here and elsewhere assumed the newly authorized shares would in fact be quickly authorized in order to meet pressing debt obligations, not the least of which were the Goldman Sachs/Charlie Ergen convertible bonds (yes, I do understand that Charlie ultimately insisted on cash, but the initial expectation by shareholders, at the time the shares were voted and authorized, is that they would be used to pay-off the converts; hence they were immediately baked-in).

    And lastly, any retail investor who is sophisticated enough to grasp an understanding of P/E ratios is certainly sophisticated enough to include Liberty's preferred shares in the fully diluted float.

    To the author of this piece of garbage . . . nice try, now back to the drawing-board junior.
    Last edited by Sirius Roadkill; 02-26-2010 at 01:02 AM.

  2. candleman is offline
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    02-26-2010, 09:30 AM #102
    Quote Originally Posted by Sirius Roadkill View Post
    If this article wasn't so pathetic it would be laughable . . . it misses on so many levels.

    Just as an example . . . Comcast (a cable company; the article references cable company P/E ratios as media subscription peers) has a projected EBITDA growth rate of 9.84% for 2010 . . . Sirius has a projected EBITDA growth rate of 20%!! Come-on now, an 8 multiple on a 20% growth rate?? (I guess that "nuance" escaped the author)

    Secondly, the dilutive effect of the Liberty Preferred shares has not been lost on anyone here . . . this has long been baked-in to the share price; in fact, the day Mel stood before shareholders in November 2008 asking for approval to double the share count is the day it got baked-in, as most here and elsewhere assumed the newly authorized shares would in fact be quickly authorized in order to meet pressing debt obligations, not the least of which were the Goldman Sachs/Charlie Ergen convertible bonds (yes, I do understand that Charlie ultimately insisted on cash, but the initial expectation by shareholders, at the time the shares were voted and authorized, is that they would be used to pay-off the converts; hence they were immediately baked-in).

    And lastly, any retail investor who is sophisticated enough to grasp an understanding of P/E ratios is certainly sophisticated enough to include Liberty's preferred shares in the fully diluted float.

    To the author of this piece of garbage . . . nice try, now back to the drawing-board junior.
    Scottrade posted that article yesterday afternoon. After I read it, I thought it was so far off the mark that it wasn't even worth commenting on. It was the kind of story that the FOOL had been publishing for the last 12 months.

  3. proactiv is offline
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    02-26-2010, 10:14 AM #103

    From the New York Times Technology secion

    Sirius XM Posts Profit, Its First Since Merger

    By REUTERS
    Published: February 25, 2010
    The satellite radio company Sirius XM Radio posted its first quarterly profit since its merger and said it expected to add 500,000 new subscribers in 2010 as the recovery in the car market increased demand.

    The results on Thursday suggest that the company, run by the media industry veteran Mel Karmazin, has solidified. Just a year ago, it flirted with bankruptcy.

    Sirius shares have risen sharply from a year ago when they traded as low as 5 cents each. Its stock was down 3 cents, or 2.73 percent, at $1.07 on Thursday. Analysts and investors are re-evaluating shares of Sirius, whose market capitalization is now about $4.1 billion.

    Born of the 2008 merger that united rivals Sirius Satellite Radio and XM Satellite Radio, Sirius XM has been resurgent after receiving a loan in February 2009 from Liberty Media. The transaction gave Liberty a 40 percent equity stake in Sirius XM.

    Since then, the company has seen a rise in average revenue per user, lower costs to woo subscribers and an increase in new-car buyers who sign up after their trial subscriptions lapse.

    Most important, sales of new cars — the biggest source of Sirius customers — are looking up.

    “With auto sales showing signs of recovery, we are well positioned to hopefully grow our promotional base in 2010 and beyond,” Mr. Karmazin said in a conference call with analysts.

    The company posted fourth-quarter net income of $14.2 million, less than a penny a share, compared with a year-earlier net loss of $245.8 million, or 8 cents a share.

    Analysts had expected a loss of 2 cents a share, according to Thomson Reuters. The company attributed its profit to subscriber gains and cost cutting.

    Revenue at Sirius XM rose 6 percent, to $684 million, from $644 million. That beat the analysts’ forecast of $664 million.

    As it had previously reported, Sirius added 257,000 subscribers in the fourth quarter and ended the year with 18.8 million.

    Sirius XM said it expected revenue to increase about 7 percent, to $2.7 billion in 2010. The outlook was just shy of the analysts’ average estimate of $2.8 billion.

  4. SiriuslyLong is offline
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    02-26-2010, 10:18 AM #104
    Quote Originally Posted by Sirius Roadkill View Post
    just finished skimming the 10-K's

    here's the COH summary for the combined company:

    Cash and cash equivalents $ 383,489

    so there it is SL . . . squares with Frear's quote of more than $380mm
    That number is reported in 000's correct? God I feel paranoid.

  5. proactiv is offline
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    02-26-2010, 10:34 AM #105
    Quote Originally Posted by SiriuslyLong View Post
    That number is reported in 000's correct? God I feel paranoid.
    Yes, correct.

  6. SiriuslyLong is offline
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    02-26-2010, 11:02 AM #106
    http://www.infowars.com/celente-pred...lions-by-2012/
    Quote Originally Posted by proactiv View Post
    Yes, correct.
    Thanks, I did go have a look myself.

    Cash and cash equivalents > $380,000,000. NICE.

    All of us have been skeptical at times. I remember NOT hitting the "place order" button for 10,000 shares at 5 cents. I was so pissed about the prospect of going ch 11. I have faith in Mel. He's going to address the tough outstanding issues.

    Hey, just be glad we don't live in Greece. Check out this guy. It may be coming.

  7. proactiv is offline
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    02-26-2010, 11:04 AM #107
    This is our 8th trading day above a dollar, right?

  8. SiriuslyLong is offline
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    02-26-2010, 11:35 AM #108
    Quote Originally Posted by proactiv View Post
    This is our 8th trading day above a dollar, right?
    Not counting, just watching, and I see ($0.03) to be at $1.04. We need some bulls to start buying. The NAB probably bought it up only to selloff near the NASDAQ deadline. Their preservation is at stake - fight or flight. I don't doubt this kind of tomfoolery at all.

  9. Sirius Roadkill is offline
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    02-26-2010, 12:55 PM #109
    Quote Originally Posted by SiriuslyLong View Post
    Hey, just be glad we don't live in Greece
    Note also that the U.S. Federal Government has launched an investigation into Goldman Sachs trading re Greek debt obligations . . . I would love to see Goldman Sachs finally exposed for the rapacious Ivy-League ponzi scheme that it really is!

  10. Sirius Roadkill is offline
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    02-26-2010, 01:06 PM #110
    U.S. Fed probing Goldman Sachs’ role in Greece deficit

    Published On Thu Feb 25 2010
    Reuters

    WASHINGTON-The Federal Reserve and securities investigators are looking at how Goldman Sachs may have helped Greece disguise the size of its budget deficit through the use of derivatives, Fed Chairman Ben Bernanke said Thursday.

    The surprise announcement came as Bernanke prepared to start the second day of his semi-annual testimony on the economy before the Senate Banking Committee and was in response to concern raised by committee chairman Chris Dodd.

    “We are looking into a number of questions related to Goldman Sachs and other companies in their derivatives arrangements with Greece,” Bernanke responded.

    He added the Securities and Exchange Commission was also “interested” in whether other Wall Street firms had a role in Greece’s use of derivatives and in how they were used.

    “Obviously, using these instruments in a way that potentially destabilizes a company or a country is counterproductive,” Bernanke said. “We’ll certainly be evaluating what we learn from the activities of the holding companies that we supervise here in the U.S.”

    In the midst of the severe financial crisis that swept the U.S. economy from 2007 to 2009, Goldman and other Wall Street firms converted to bank holding companies, putting supervision of them more firmly in the Fed’s hands.

    There has been harsh scrutiny of Goldman Sachs since Greece staggered into a debt crisis so severe that it has raised fears of a debt default and forced the European Union to say it will help if necessary to avert that.

    Goldman Sachs entered into currency swaps with Greece, which critics say helped it disguise its debt, and has defended them as neither uncommon at the time nor inappropriate.

    Cross-currency derivatives that Goldman Sachs conducted for Greece in 2001 helped reduce the size of its debt at a time when the country was keen to meet criteria for entering the EU and adopting the euro.

    Goldman Sachs has a particularly high profile in Washington, having produced numerous alumni including former Treasury Secretary Henry Paulson, many of whom still play active roles that periodically stirs the anger of lawmakers who say it has too much influence.

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