NEWMAN,
Those purchases DID NOT happen during those times you stated.
That site "mffais.com" shows the activity as reported by those funds on their quarterly reports to the SEC. Those dates you are reporting, all the way up to november, are the dates that each fund REPORTED it's Q3 with the SEC. The actual trades happen DURING that Q3.
Which means those stock purchases you mentioned happen ANYTIME between July 1 '08 & Sept. 30 '08.
http://finance.yahoo.com/news/Bush-c...-13868234.html
Bush considering "orderly" auto bankruptcy
White House considering "orderly" bankruptcy to deal with ailing automakers
Jennifer Loven, AP White House Correspondent
Thursday December 18, 2008
WASHINGTON (AP) -- The Bush administration is seriously considering "orderly" bankruptcy as a way of dealing with the desperately ailing U.S. auto industry.
White House Press Secretary Dana Perino responds to a reporters question, Thursday, Dec. 18, 2008, during her daily briefing at the White House in Washington. (AP Photo/Ron Edmonds)
White House press secretary Dana Perino said Thursday, "There's an orderly way to do bankruptcies that provides for more of a soft landing. I think that's what we would be talking about."
President George W. Bush, asked about an auto rescue plan during an appearance before a private group, said he hadn't decided what he would do.
But he, like Perino, spoke of the idea of bankruptcies organized by the federal government as a possible way to go.
"Under normal circumstances, no question bankruptcy court is the best way to work through credit and debt and restructuring," he said during a speech and question-and-answer session at the American Enterprise Institute, a conservative Washington think tank. "These aren't normal circumstances. That's the problem."
The comments came a day after Chrysler LLC announced it was closing all its North American manufacturing plants for at least a month as it, General Motors Corp. and Ford Motor Co. await word on government action. General Motors also has been closing plants, and it and Chrysler have said they might not have enough money to pay their bills in a matter of weeks.
Prices of GM and Ford stocks were down substantially after the White House comments Thursday. Though Ford, unlike General Motors and Chrysler, is not seeking billions of dollars in federal bailout loans, a major collapse of the other two would be expected to badly damage Ford as well.
Bush said the auto industry is "obviously very fragile" and he is worried about what an out-and-out collapse without Washington involvement "would do to the psychology" of the markets.
"There still is a lot of uncertainty," he said.
At the same time, the president said anew that he is worried about "putting good money after bad," meaning taxpayer dollars shouldn't be used to prop up companies that can't survive the long term.
He revealed one other consideration -- that Barack Obama will become president in just over a month.
"I thought about what it would be like for me to become president during this period. I believe that good policy is not to dump him a major catastrophe on his first day in office," Bush said.
At the White House, Perino said, "The president is not going to allow a disorderly collapse of the companies. A disorderly collapse would be something very chaotic that is a shock to the system."
She said the White House was close to a decision and emphasized there were still several possible approaches to assisting the automakers, such as short-term loans out of a $700 billion Wall Street rescue fund. Bush has resisted this approach before, and it is adamantly opposed by many Republicans.
"It's in the spectrum of options and there are a lot of options," Perino said.
She said one of the factors delaying an announcement on an auto rescue plan is the continuing discussion between the administration and the various sides that would have to sign on to a managed bankruptcy -- entities such as labor unions and equity holders in addition to the companies themselves.
"In any scenario that comes forward after this decision-making process, all those stakeholders are going to have to make tough decisions," she said.
The presidential spokeswoman would not put a timetable on when an announcement would come, and suggested it may not happen this week. But something must be done, she said.
"If you thought that our economy today could handle the collapse of the American auto industry, then you might come to the conclusion that doing nothing was an option," Perino said. "We're going to do something."
Last edited by Demian; 12-18-2008 at 03:08 PM.
after looking at those slides, there is absolutely no reason for sirius to be priced at .14, the fear of the current credit markets have brought it down like so many other things, credit markets get better sirius goes up up up up upu upu upu upupupupupupupu
upu upu upu upupupupupupupu upu upu upu upupupupupupupuupu upu upu upupupupupupupuupu upu upu upupupupupupupuupu upu upu upupupupupupupuupu upu upu upupupupupupupuupu upu upu upupupupupupupuupu upu upu upupupupupupupu
DJ Sirius-XM Hldrs OK 3.5B-Shr Issue, Reverse Stk Split -CNBC
. Ê DOW JONES NEWSWIRES
Ê Shareholders of Sirius-XM Radio Inc. (SIRI) on Thursday approved the issuance of 3.5 billion additional shares of the recently merged satellite radio provider as well as a reverse stock split to avoid delisting from Nasdaq, CNBC reported. Ê The New York-based company had asked shareholders to approve the share issue and reverse split in case its board authorizes the moves to boost Sirius-XM's stock price. The shares were trading up more than 11% Thursday afternoon. Ê Web site: www.cnbc.com
Ê -Dow Jones Newswires; 201-938-5500
Ê (END) Dow Jones NewswiresÊ December 18, 2008 13:48 ET (18:48 GMT)Ê Copyright (c) 2008 Dow Jones & Company, Inc.- - 01 48 PM EST 12-18-08
CNBC video report on shareholder meeting vote...
http://www.cnbc.com/id/15840232?video=970855412&play=1
http://www.cnbc.com/id/28298853/site/14081545
Sirius XM Shareholders To The Company's Rescue?
Posted By: Julia Boorstin
Topics:Radio | Technology | Media
Sectors:Technology | Media
Companies:Sirius Satellite Radio Inc.
At Sirius XM Radio's [SIRI 0.14 0.01 (+6.46%)] annual shareholder meeting in New York today the company announced results on measures to help the company. The company tells me that shareholders "overwhelmingly" voted to approve two measures to help the company face $1 billion in debt due in 2009.
Over 75 percent of shareholders voted to approve the issuing of up to 3.5 billion shares (the company currently has 3.2 billion shares outstanding) in order to allow possible debt for equity swaps. That same 75 percent plus majority authorized an alternate plan to help the company -- a reverse split.
With the company's stock trading at around 14 cents last time I checked, this could help the company avoid delisting. The Nasdaq has a rule that its listed company's shares trade at $1 or higher, which it's waived until Jan 16. Unless Nasdaq continues to disregard that rule, SIRI stock needs to boost up its stock price to avoid getting pushed to the pink sheets.
What's next for the satellite radio company? Having a monopoly on the space clearly hasn't been enough to solidify its business. Miller Tabak + Co. analyst David Joyce says he expects the pullback in consumer spending and the drop in car sales to hurt Sirius XM's subscribers, now expecting just 460,000 new subscribers in the fourth quarter. James Ratcliffe, Barclays Capital's analyst, expects the company to refinance its debt with both convertible bonds and straight debt, so it won't have to issue all 3.5 billion shares the vote approved.
WIth the holiday season a crucial period for people buying the satellite radios and signing up for the subscriptions, we'll see if satellite radio is something consumers consider disposable in this economic environment.
http://www.cnbc.com/id/28298989/for/cnbc/
Sirius ending 2008 with 22 percent less staff
By: The Associated Press | 18 Dec 2008
Sirius XM Radio Inc. said Thursday it will have trimmed 22 percent of its work force by year-end, as the satellite radio provider moves to slash costs in order to stay on track and post an adjusted profit next year, even amid slumping car sales.
The New York-based company will have cut 458 people from its staff, going down to 1,600 people from the 2,058 it employed before its July acquisition of XM Satellite Radio Holdings Inc. Sirius Chief Executive Mel Karmazin made the announcement at its annual shareholders meeting, according to a filing with the Securities and Exchange Commission.
Karmazin noted that November car sales fell 37 percent, the weakest results in nearly three decades. Sirius sells its service through cars pre-installed with its radios and individual subscriptions.
Sirius expects the job cuts and other cost-reduction measures to save $425 million next year. The company also forecast a smaller-than-expected adjusted loss before interest, taxes, depreciation and amortization of $200 million this year, down from $300 million as previously expected.
For the fourth quarter, Sirius expects to post an adjusted profit of $32 million, a vast improvement over the $224 million loss it recorded in the year-ago period.
For 2009, Sirius reaffirmed its expectation for adjusted profit of $300 million. But its number of subscribers is forecast to rise to just 20.6 million — below the 21.5 million that Sirius forecast in September, before the Detroit automakers asked Congress for emergency loans.
Analysts polled by Thomson Reuters are forecasting a 2009 loss of 15 cents per share.
Sirius also reaffirmed revenue forecasts of $2.4 billion this year and $2.7 billion in 2009. Analysts' expectations are more cautious for this year, forecasting $2.2 billion in revenue, but are in line with management's prospects for 2009.
The company said $995 million of debt is due next year. It is holding talks with debt holders as well as new investors in an effort to ease its repayment schedule.
In October, Sirius exchanged $30.5 million of debt held by institutions for 67 million common shares — equalling 45 cents for each share received by debt holders. On Thursday afternoon, Sirius shares traded up a penny at 14 cents, well off the $3.89 they traded at a year ago. Amid the downturn in global markets, Sirius shares have lost nearly all of their value.
But the company wants to execute a reverse stock split to boost its stock price, a proposal put to shareholders at the annual meeting on Thursday. Sirius said its shares must trade at $1 or higher to continue listing on the Nasdaq.
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P.S. - This article was corrected after I posted it. In the article it says that the 4th quarter forecast was for a $32 mill profit - it was corrected to show a $32 mill loss....
Last edited by Demian; 12-18-2008 at 06:16 PM.
how many times are tey gonna say an auto bail out is coming just for them to BAIL out of the bail out at the last second, freaking worthless.
i see a huge rally coming tommorow, market wise, dont know bout sirius
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