John- I understand. No pick at you.
Relmor2003....I agree. This may/can/is perceived as crimanal, but we need one more piece to complete this puzzle. It will be delivered on the 17th. The key that will unlock it all is the KPMG deal.....which is done. It's been done. Do you believe that?
I'm not missing the point. I know why the shares were loaned in August... but the situation was different when Ergen started buying up the converts - SIRI was no longer on the REGSHO list. Plus, as Brandon pointed out, as the previous holders of those bonds, likely GS, sold them to Ergen, they covered their hedge while Ergen opened his.Originally Posted by john
The vote to authorize additional shares in December had NOTHING to do with loaning shares for short hedging - it was to raise additional capital.
Beyond done. Its a done done deal. They are dotting the i's and crossing the t's. We lost 40% of our company. They are hoping by the 17th we will be so happy to hear from our beloved CEO, we will forgive and forget what he stole from us. I wont forget, and I dont forgive. Mel, just give me my money back, and were all good. If Mels plan is to bottom the stock, recapitalize the shares to "smart money, buddy money, or big money" and then reinflate, then IM ok with his end game. But we need to see that come to pass. If no evidence of a sp rebound can be seen for 2 quarters, I think you know that the end game is the "privatization" one, and we will never see its true value materialze. I will at that point investigate wether Mr. Harlieb is a "real" investor which I doubt it, or begin my own legal procedings accordingly. SP usually anticipate 6 months out, so by report of q3, I should be proven wrong, or right, or neither, and just paid off by Mel. I will take anything over .50 cents at this point, and sell 1/2 position to take back a substantial portion of stolen money. I will hold the last half for the outside chance it might clear $1 before the R/S, which is coming eventually. That is the "true" removal of the last retail long hope of salvation.
ANyone holding on till april 15th for a new offer, is delusional, and should be in a straight jacket. There is no better deal coming, even if their was, Mel has already said no. Dont bother. I forget who, but they put all the board information up about who they are and their ties. Its obvious they all know each other, have for years, and have been working on their end game for years as well.
Last edited by relmor2003; 03-04-2009 at 03:59 PM.
On the most recent REGSHO list (2-20-09)there were 744,000 shares of Siri that were failed to deliver.
asm610, If there was no bankruptcy then it would be hard but in bankruptcy it is a totally different thing. The first thing the FCC is going to want is that satellite radio survives in any form.
Hi, I posted Bios on Sirius BOD in response to stories about company "retaining" law firm to work out BK details. The law firm in question has been retained by company for years. Pat Donnelly Executive Vice President and General Counsel for Sirius came out of law firm. When you look into BOD and officers of Sirius many of them have connections with Malone, Ergen, law firms, Advisory firms that are mentioned in all these deal stories.
Plus, I would have leased out the FCC manadated bandwidth IMMEDIATELY to maximize stockholder value and add money to COH immediately knowing Feb debt was due(Remember Im assuming the CEO is paid to do what his job title entails). Why wait? Because the more cash they had, the harder it is to sell bk to the dumb. Those sales should have been done. Why wait? Malone needs his input? I dont know. I cant think of one good reason to lie to the FCC again, and not fullfill their demands AGAIN. Mel is either stupid, or purposefully tanking the SP. Either way, he should be in jail, or no longer our CEO. But he gets a free pass from me if his end game is as stated before, crash the price, buy in low, make tons of money. The product is great, the revenue streams are unlimited, the bandwidth is amazingly importnatn and valueable. Company is much too valuable to be trading at .13 cents. Its a joke. Mel took the sp from $9 to .13 cents. ? How has he kept his job? Not possible unless the majority stockholders are in on it. So what is "it". Lets find out. Should be interesting.
Excellent work, my friend. Very eye opening!!!!!
It tells the WHOLE STORY almost right there, didnt it?
How can anyone doubt collusion is beyond me.
And the spin of course is "Sirius hires firm to work on BK, to advise on reorganization, Sirius being bought out" if they do mention these people know each other its spun as "they hate each other"
No where do you read large group of people who worked together at Sirius or at firms that are retained by Sirius are doing what they have done for 5 years. One of the "hostile" people is a former CEO of Sirius. Sirius BOD members worked for Malone or Ergen prior to coming to Sirius.
I think all companies involved have long standing friendly relations.
(love the edit function)
Last edited by mogami; 03-04-2009 at 04:14 PM.
winagain, I am sorry but I think you are wrong the shares were loaned out to the people taking on the converts for the merger they had to give them back to SIRI after the converts were paid off or reconverted they could not be loaned out to anyone else by the old investers of the new converts (that would have to go through SIRI first), they had to come back to SIRI. I am not going through the posts again there was a whole thread were this was all discussed.
Finally, yes it did while it was not the only reason for it, it was one of many along with being able to pay employees (shares as part of the pay package) to being sold on the open market all the way to being able to do the same kind of financing they did just after the merger which was loan shares (for shorting to protect their investment) so converts would take the deal.
Last edited by john; 03-04-2009 at 04:16 PM.
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