Sirius Weekly Thread 11-30-2009

[Sirius Roadkill]

Hey SL & Chuck

Looks like we are still stuck in this rut boyz . . just treading water.

I listened to the David Bank interview last night (RBC Capital Markets) . . he said that he has "encouraged" IR to do the R/S because, according to Bank, many institutions are barred, by charter, from participation in equities below a certain share price . .

BUT

He then later confessed that it is also "mechanically" more difficult for institutions to short a stock like Siri at its current price level . .

I did not hear the entire interview . . but again . . I heard no mention of MARGIN . . why does everybody tiptoe around this topic . . MARGIN BUYERS are needed to fuel speculation. The last of the Margin Buyers in Siri were flushed-out in October 2008 . . we need MARGIN!

and P.S. There is no such thing as an "Independent Research Analyst" . . David Bank has people to answer-to the same way anybody else does . . . so take all of these analysts research reports with a grain of salt and DYODD for god's sake!

BTW . . Bank is projecting 49,000 net adds for Q4 due to a lower overall conversion rate on CFC OEM's . .

and just so we are clear . . . RBC Capital Markets participates in a significant volume of hedging transactions . . so be careful of the tail wagging the dog here . .

[candleman]

Hey SL & Chuck

Looks like we are still stuck in this rut boyz . . just treading water.

I listened to the David Bank interview last night (RBC Capital Markets) . . he said that he has "encouraged" IR to do the R/S because, according to Bank, many institutions are barred, by charter, from participation in equities below a certain share price . .

BUT

He then later confessed that it is also "mechanically" more difficult for institutions to short a stock like Siri at its current price level . .

I did not hear the entire interview . . but again . . I heard no mention of MARGIN . . why does everybody tiptoe around this topic . . MARGIN BUYERS are needed to fuel speculation. The last of the Margin Buyers in Siri were flushed-out in October 2008 . . we need MARGIN!

and P.S. There is no such thing as an "Independent Research Analyst" . . David Bank has people to answer-to the same way anybody else does . . . so take all of these analysts research reports with a grain of salt and DYODD for god's sake!

BTW . . Bank is projecting 49,000 net adds for Q4 due to a lower overall conversion rate on CFC OEM's . .

and just so we are clear . . . RBC Capital Markets participates in a significant volume of hedging transactions . . so be careful of the tail wagging the dog here . .

After thinking this over for a long time, I've come to this conclusion.
I am not opposed to a reverse split. I'm long on SIRI, so any short term loss from the split would be OK. But, if we could get the institutional investors on board, it would be better for all of us in the long run.
A 60 cent stock just doesn't excite too many investors.

[Sirius Roadkill]

After thinking this over for a long time, I've come to this conclusion.
I am not opposed to a reverse split. I'm long on SIRI, so any short term loss from the split would be OK. But, if we could get the institutional investors on board, it would be better for all of us in the long run.
A 60 cent stock just doesn't excite too many investors.

I am kind of thinking along the same lines Chuck . . institutional buyers and margin buying by retail investors . . . what has me a little apprehensive is why Mel is so worried about it . .

According to David Bank (RBC Capital), Mel is very concerned about the R/S . .

But then again, David Bank is the same guy that just last night said that Howard Stern isn't worth his contract . . that's why these puppet research analysts aren't running big companies . .

Those who can do . . those who can't analyze!

[Sirius Roadkill]

Average Recommendation: OVERWEIGHT
Average Target Price: 1.03
Number of Ratings: 5
Current Quarters Estimate: -0.02
FY Report Date: 12 / 2009
Current Year's Estimate: -0.12
Last Quarter's Earnings: 0.00
PE on CY Estimate: -5.38
Year Ago Earnings: -0.46
Next Fiscal Year Estimate: -0.02
PE on Next FY Estimate: -34.96

[Sirius Roadkill]

Officers and Executives Compensation

Name
Compensation
Officer Since
Title

Mel Karmazin
4.09M
2008
CEO/Director

David J. Frear
1.34M
2003
CFO/Executive VP

Joseph P. Clayton
3.65M
2001
Chairman of the Board/Director

Dara F. Altman
291,459
2008
Chief Administrative Officer/Executive VP

James E. Meyer
1.37M
2004
Divisional President

Patrick L. Donnelly
934,952
1998
Executive VP/Secretary/General Counsel

Scott A. Greenstein
1.09M
2004
Other Executive Officer/President

[candleman]

Average Recommendation: OVERWEIGHT
Average Target Price: 1.03
Number of Ratings: 5
Current Quarters Estimate: -0.02
FY Report Date: 12 / 2009
Current Year's Estimate: -0.12
Last Quarter's Earnings: 0.00
PE on CY Estimate: -5.38
Year Ago Earnings: -0.46
Next Fiscal Year Estimate: -0.02
PE on Next FY Estimate: -34.96

I think that target price is too low unless they are just looking at a few months from now.

If customers continue to grow, and I think they will. We should see profit this quarter. And if profit happens, I think a price of 1.25 by March is not unreasonable. Hell RoadKill, we were 4 times that years ago and we were nowhere near making money.

[socalrunningfool]

According to SRK"s vesting schedule thread. Today is another "Board Members Screw Shareholders" Day.

I'm sticking with a close Friday of .65.

[Sirius Roadkill]

Hell RoadKill, we were 4 times that years ago and we were nowhere near making money.

Yeah . . and then we took-on this damn albatross known as "XM" (insolvent though it may be) and Sirius shareholders are still paying-off their debt . . but the worm IS starting to turn Chuck.

In the quiet solitude of "range-bound" moments like these . . . I ask myself what julietoo would do . . I say to myself, "SRK, what would julietoo do?"

and then it comes to me:

GO SIRIUS!

[Sirius Roadkill]

According to SRK"s vesting schedule thread. Today is another "Board Members Screw Shareholders" Day.

I'm sticking with a close Friday of .65.

[bassmaster]

According to SRK"s vesting schedule thread. Today is another "Board Members Screw Shareholders" Day.

I'm sticking with a close Friday of .65.

it was yesterday and i believe they are done (because the sells were accelerated).