http://siriusbuzz.com/adelstein-withdraws-offer-ap.php
You would think that this would be the news that would have caused the drop like we saw yesterday. Copps' denial was a foregone conclusion, at least this news closes the door on a fall-back plan.
I got to hand it to Joe Six-pack, his investing strategy eludes me. And in all of this, this news really gives me no sense of anxiety. Tate's got something brewing, and it sure isn't denial.
Yea, since adelstien was the backup, Tate will Say YES!Originally Posted by zcurzan
PARTAH!
Game over man, game over."I was hoping to forge a bipartisan solution that would offer
consumers more diversity in programming, better price protection,
expanded choices among innovative devices and real competition with
digital radio," it read. "Instead, it appears they're going to get a
monopoly with window dressing. We really missed a great opportunity to
reach a bipartisan agreement that would have benefited the American
people."
It speaks a lot of the true intentions of his proposal if he withdraws it simply because the satellite radio companies failed to discuss it with him. If he was a firm believer that his proposal was the best way to handle this merger, he would have kept it on the table and in fact fought for it to the very end. Or wait... maybe this is the end.
Right. What changed his mind? If Adelstein's deal was good yesterday, why does he retract it today? What benefit does it serve Adelstein to change his position and vote a solid NO? Perhaps he will be more attractive to an Obama administration with a solid anti-consolidation voting record. In reality, Adelstein's offer was not credible. It seems that HD is not willing to pay any amount to impose itself on SDARS.
Adelstein pretty much had to vote "no" since his proposal was so preposterous there was no room for compromise. For him to have found any middle ground with Sirius he'd have had to drop so many of his conditions that he'd look ridiculous.
Now, with Adelstien and Copp's votes on the table, the pressure's really on Tate since before this she could say she wasn't the only one whom hadn't voted yet.
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