Greg Maffei Named Chairman of SiriusXM
If there was ever a doubt in whether or not Liberty Media would drive the direction of SiriusXM, it should now be removed. SiriusXM’s Interim CEO, Jim Meyer does have a seat on the Board.
In addition to the news surrounding the Board of Directors, SiriusXM announced that it will hold its Q1 quarterly conference call on April 30, 2013. The company is expected to post good numbers, but investor focus may well be on whether or not, or even when, the $2 billion share buyback program will begin.
Also, the number 3 “item of business” on the annual meeting announcement is “3. To vote on a stockholder proposal submitted by The Central Laborers’ Pension Fund to amend our Corporate Governance Guidelines to adopt and disclose a written and detailed succession planning policy;”
So, was the Pension Fund asked by Liberty to ask for this proposal, with the idea being that there might/will be a change in ownership, reverse morris trust, etc.?
And siri for approaching 5 months in a row stays in the low 3 dollar range. It was actually at it’s higher than it’s current level the 1st week of Jan. I just don’t get this stock. Everyone was boasting how the stock price would shoot up due to the liberty/malone business venture and buy back program but they have been proven incorrect thus far. Think if something does not make this one move up coming into the next CC I will be looking for a stock that works for it’s share holder like sprint has for example. I looked at it may of 2012 and never made a change and it is nearly 4 times the price it was one year ago. OH well my fault all the way for not at least selling 1/2 my siri shares back then and buying sprint.
Buy back? So far Malone is dong the same thing Mel did for years!….TEASE about a friggin buy back, but NOTHING ever Happens. Shareholders started becoming annoyed, so SIRI announces a “potential” 2 billion in buy backs. Just friggin DO IT! I’m so sick f this. Mel kept saying how a share buy back was his top priority, every quarter he teased us with that shit. Now Malone is doing the same thing, so friggin annoying,
I have been a shareholer for 10 years now. The last 5 years we have regularly gone through the wave of buying and shorting.
Until the group of short get burnt but good, this wave will continue——the pps will go up 25 to 40 cents and then get shorted. You can take advantage of this if you choose to increase your shares.
The single fact to observe is that every quarter this company gets bigger and stronger.