SIRI Intraday Updates for the Week of 10/20/08

[Demian]

This guy says sat rad will be dead in two years......

http://www.gizmodo.com.au/2008/10/si...ears_away.html

GADGETS
Sirius XM Dual Receiver Still 15 Years Away
Posted by Wilson Rothman at 10:00 AM on October 21, 2008
Now that Sirius and XM are merged, it makes sense that we'll get a dual tuner that picks up both flavours of satellite radio, right? WRONG.

CEO Mel Karmazin, aka the dude who paid Howard Stern a retarded amount of money, said today that the merger didn't magically fuse together satellite capabilities. Says Automotive News:

Merging XM and Sirius technology and installing it in new vehicles could take as long as 15 years because of the new chips required and automakers' lead time.
Fifteen years—when your car will look like this. Karmazin said other stuff about the subscription business(es), most of it was equally depressing. (No chance of it spreading to Europe and Asia, for instance.) How long do you give satellite radio? I say dead in two years.

[SiriusXMInvestor]

I was thinking the same thing after reading that it may take 15 years to get a dual radio in cars. Didn't Mel say 3 years at the first CC after the merger? 15 years, he has to be kidding, right? Wasn't one of the reasons to merge was to transmit both sat signals to one radio? Is Mel commiting shareholder suicide or is his intent really to take down this comapny? You have to start wondering here?

[Demian]

Either Robert is trying to mislead people or he didn't get the memo about the Nasdaq's new rules...

After emailing back and forth with Robert Holmes from thestreet.com about the error in his article, he finally "fixed" it by "updating" the article....

Here are the emails he sent me....

------------------------------------------------------------------------------------------------------

Demian,

I appreciate the response. The information in the article was taken both
from the Nasdaq's official Web site and Sirius XM's own regulatory
filing. If you'd like to see the Nasdaq's official policy on the
delisting notice, please head here:
http://www.nasdaq.com/about/FAQsContinued.stm#6

Thank you.

Robert Holmes
Staff Reporter
Robert.Holmes@thestreet.com
TheStreet.com

-----------------------------------------------------------------------------------------------------

Demian,

I followed up with my Nasdaq contact and, indeed, you are right. I'm
updating the article now. Thanks for pointing out my error. I appreciate
the help.

Robert Holmes
Staff Reporter
Robert.Holmes@thestreet.com
TheStreet.com

-------------------------------------------------------------------------------------------------------

Here is the "updated" article....

http://www.thestreet.com/_yahoo/news...FREE&cm_ite=NA


And here was my last email to Robert.....

-------------------------------------------------------------------------------------------------------
Robert,

Thank you for correcting the error in the article. Now you should write a new article about how positive this is for SIRI...

Demian

--------------------------------------------------------------------------------------------------------

[SiriusXMInvestor]

Good job Demian. However, I believe Holmes intentionally wrote it that way, until, you pointed out the lie. He got caught and you fixed him. Thanks.

[Demian]

I included the link to the new rules on the Nasdaq's website in my first email. Either he was playing dumb or he didn't check the link that I sent him...

[Demian]

Good morning people.....

Pre-Market Trade Reporting

Pre-Market
Last: $ .3905
Pre-Market
High: $ .412
Pre-Market
Volume: 18,420
Pre-Market
Low: $ .39


08:15 $ .3905 800
08:15 $ .39 200
08:15 $ .39 110
08:15 $ .39 2,140
08:06 $ .40 200
08:06 $ .3905 200
08:04 $ .3905 5,000
08:00 $ .412 100
08:00 $ .40 220
08:00 $ .40 1,000
08:00 $ .40 625
08:00 $ .40 150
08:00 $ .40 3,424
08:00 $ .40 4,251

[imromo24]

I was thinking the same thing after reading that it may take 15 years to get a dual radio in cars. Didn't Mel say 3 years at the first CC after the merger? 15 years, he has to be kidding, right? Wasn't one of the reasons to merge was to transmit both sat signals to one radio? Is Mel commiting shareholder suicide or is his intent really to take down this comapny? You have to start wondering here?

Mel didn't say it. 15 years is so absurd, nothing in technology takes that long. 15 months would be closer, but Mel said 3 years

[Demian]

They took Mel's quote out of context........he was talking about one system - not interoperable.


SIRI trading down fractionally (about a cent} at about .37 with the market bloody red. I'm hoping .36 holds...


http://biz.yahoo.com/ap/081021/apfn_...debt.html?.v=1

AP
Sirius exchanges debt for shares
Tuesday October 21, 9:53 am ET
Sirius exchanges debt for shares as leverage concerns loom

PHILADELPHIA (AP) -- Sirius XM Radio Inc. swapped $30.5 million of its debt for company stock, as the satellite radio provider moves to shore up its balance sheet.
The New York-based company exchanged the debt held by institutions for 67.04 million common shares, according to a filing with the Securities and Exchange Commission made late Monday. The debt is a portion of the $300 million in 2.5 percent convertible notes due in February.

The exchange translates to a value of 45 cents for each share received by debt holders. Sirius shares closed at 39 cents on Monday, up a penny. The company disclosed the deal after the market's close.

The debt holders stand to clean up once Sirius executes a 1-for-10 to 1-for-50 reverse-stock split before the end of 2009.

Sirius put forth the reverse-split proposal, which will boost the stock price by reducing the number of outstanding shares at the ratio indicated, in a proxy filing last week to be voted upon at its Dec. 18 shareholders meeting.

The company said its shares have to stay at $1 or higher to continue listing on the Nasdaq.

Sirius said it did not receive any cash from the debt swap and noted that it might make other exchanges as opportunities arise.

Sirius faces $1.1 billion in debt coming due next year. The company is seeking to save $425 million in 2009 from its July merger with XM and trim its debt burden to reach profitability.

[Demian]

http://www.schaeffersresearch.com/co...e&blogid=88574

Option Skews - Research in Motion, Sirius XM Radio Inc, National City Corp, Ambac Financial Group, Petroleo Brasileiro SA
10/21/2008 8:27 AM

Companies seeing a skew towards calls in the previous session: Citigroup Inc (C), SanDisk Corp. (SNDK), Research in Motion (RIMM), Forest Laboratories (FRX), Petroleo Brasileiro SA (PBR), Goldcorp Incorporated (GG), Chesapeake Energy (CHK), Morgan Stanley (MS), Delta Air Lines (DAL), Capital One Financial (COF), American International Group (AIG), Pfizer (PFE), EMC Corp. (EMC), Sirius XM Radio Inc (SIRI), Merck (MRK), IBM (IBM), Intel Corp. (INTC), Yamana Gold Inc (AUY), Yahoo! (YHOO), Genentech Inc (DNA), Freeport-McMoRan Copper & Gold (FCX), National City Corp (NCC), eBay Inc (EBAY), Nokia Corp. (NOK), Ambac Financial Group (ABK).

[Demian]

The people that write these articles are so stupid. Interoperable radios will be out in just a few months and ahead of schedule - Mel said they would beat the Merger requirement to have them out within a year by "several months"...


http://www.fmqb.com/Article.asp?id=945063


Karmazin: Merged Technology Years Away

October 21, 2008
Speaking at Monday's Convergence 2008 conference hosted by Chrysler in Detroit, Sirius XM Radio CEO Mel Karmazin said that in-car technology merging Sirus & XM could be up to 15 years away. According to Autoweek, Karmazin presided over a Q&A session, in which he said that while the companies have merged, their technology has yet to. Combining the technology for both companies and installing it in new cars could take up to 15 years, due to the creation of new chips and lead time for automakers.

However, Orbitcast notes that on Sirius' Q2 conference call, Karmazin gave a much shorter time frame. When asked about interoperable radios in vehicles, he said that the automakers "control the dashboard, so they can decide if they want it or they don't want it, and if they do want it, you should assume it will probably take about three years for them to integrate it, since that's the lead time that most of these options take before the car companies are willing to put it into production."

At the conference, Karmazin also discussed the merging of both companies' services and relationships with automakers. "Building on the success of our audio entertainment and technology infrastructure, we can bring the relationship to a strategic level by partnering with OEMs to position new-vehicle launches with differentiating Sirius XM features, such as Sirius Traffic with Chrysler, XM Traffic and real-time weather with Honda, Sirius Backseat TV with Chrysler and Sirius Travel Link with Ford," Karmazin said, according to Autoweek.

"There’s all kind of content out there. At the end of the day, I think that the consumer is in a great position because people are going to listen to what it is that interests them," he added. "We are laserlike-focused on making sure that there is nobody out there that’s going to come close to having the content that we do."