SiriusBuzz Announces Stock Shock Contest Winner
SiriusBuzz is proud to announce the winner of our Stock Shock The Movie pre-order promotion. Readers who used the promotional code “Tyler” when ordering their DVD not only got free shipping, but were also entered to win a Sirius Soloist courtesy of TSS-Radio. Stock Shock is out and getting positive traction. Reviews are good, and many people are expressing a better understanding of how the markets work after viewing the movie.
On behalf of SiriusBuzz and TSS-Radio, we would like to offer congratulations to Rory Kearney of New Jersey for being selected as the winner of the Sirius Solist dock. TSS Radio has been an Internet retail staple of satellite radio products for years, and consumers consistantly rate them at the top of the charts for their unmatched customer service.
Tyler Savery appeared in Stock Shock The Movie
Congratulations Rory!
Sandra Mohr, Director
Stock Shock-The Movie
http://www.stockshockmovie.com
I will totally second the comment on tss-radio’s great customer service. One night after drinking way to much I decided to order up some sirius radios and a new home antenna. Oops I got the order perfect but when entering my shipping address I forgot the apartment number on the shipping address. I called TSS the next morning and got a rep named Matt. After verifying my order number he added the correct apartment number and shipped my order same day.
If you already have a power adapter and an antenna TSS radio has radios on the super cheap. I think I paid $12.99 for my radio SV1-TK2 and I love it.
sorry for the double post, I have a few more comments. First, sandra, thanks for your interview on the financial Sense Newshour. I listen to that weekly and I first herd about the movie on that interview. Although I completely understand that the people in the know on Wall Street manage to eat everyone’s lunch for breakfast I think there is another side to the losses suffered by personal investers when it comes to siri stock. Please allow me to explain.
There is a company that makes walking canes for the blind called california Canes. They use carbon graphite to make some of the best products I’ve ever used. In spite of that they are almost broke and I am trying to get as many as I can while they are still inbusiness. Likewise for those of us who are radio addicts Sirius is a breath of fresh air in a radio market that was completely played out. I believe however that we Sirius supporters are the exception and not the rule.
My entire family has fairly new, high end, GM cars. they have an XM radio built in and even received the service free during the trial period. None of them have shown any interest in subscribing to Sirius even when I mentioned it. In fact, they laughed at me for “paying for radio” even though the total cost of their cars would cover my rent for three years.
My point with these two examples is that investers need to be careful to separate companies that can turn a profit from companies they believe have a good product. If you like the product, buy the service. If you like the chart and the fundamentals consider the stock.
Even if you consider the stock the warnings in the movie stock Shock are well founded. Every week we are provided more proof that Wall street investment as usual is a bad idea. This week it was the article in Rolling stone discussing Goldman Sachs. Personally I am a fan of hard assets that you can hold in your hand during this period although it is late to get in to that game even if you have not established your positions. Best of luck to all investers in this environment.
[QUOTE]”My point with these two examples is that investors need to be careful to separate companies that can turn a profit from companies they believe have a good product. If you like the product, buy the service. If you like the chart and the fundamentals consider the stock.”[/QUOTE]
Thank you for posting this.
I couldn’t agree more.
When it comes to money, think with your head and not your heart.
Too many times I have been accused of being negative on SIRI as a stock. I enjoy the service and currently have 3 subs.
However, the consistent and unmitigated failures of the current management of Sirius-XM will keep me away from this stock until a new management team is in place.
The technology is sound. The current business model, to the extent that one actually exists, is fatally flawed.
SIRI would have been better off letting XM go bankrupt on its own. XM was well on its way there. It could then have purchased the company for a song.
Instead, Mel Karmazin forces a disastrous merger that nearly takes both companies down and managed to destroy shareholder value in the process.
While all this was going on, Sirius-XM management let customer service slip to a level that should be considered criminal.
Sirius-XM management views customers as more of a pain in the ass than anything else.
Don’t take my word for it. Try calling customer service yourself. Just google Sirius-XM customer service and see what you get.
The FCC made the merger a disaster not Mel. New management team isn’t coming anytime soon. What’s your point Mr. think with your head not your heart? I guess your point is that anyone who likes the positive moves they’ve been making is thinking with their heart and a cheerleader while you who makes nothing but negative comments is a stock genius. Well Mr. Boo Boo Gecko….I think not.
Incorrect.
The FCC simply delayed the inevitable.
Mel did NOT perform due diligence and failed in his fiduciary responsibility.
To the extent there are any positive moves, Sirius-XM management always manages to snatch defeat from the jaws of victory.
I’m sure it’s someone else’s fault that NASDAQ had to tell Sirius-XM they weren’t in compliance with the independent director rule. š
Blah BLah Flooey, you are about as wrong as wrong can be.
Management kept stockholders and the business of satellite in the family. To allow XM to go BK, would have caused an outside buyer to come in for pennies on the dollar, acquire the company, and drive SiriusXM out of business next. They couldnt allow that. Mel did what he had to do to save the stockholders. You are still alive today IN SPITE OF ALL THE EFFORTS OF THE NAB AND THE FCC. FCC tried to destroy them upon inception. Failed. And they failed again. Now is the time to own the common. Right now. Period. If you dont see that, then I cant help you. Your going to miss out, and I just am sad for you. You let your mind become confused by your enemies, and made you bitter when the time for action was necessary.
PuhLeez!
You are as wrong as wrong can be.
The only person stupid enough to want XM was Mel Karmazin.
No company was going to pick up XM in bankruptcy with the possible exception of Sirius. The company was burning through cash at a fatal rate.
Mel pushed through the merger with absolutely piss-poor planning for the financing of it and it came back to bite him and all the shareholders.
You can try and blame the NAB and the FCC if you want.
The truth is that Sirius-XM is in the trouble it is in right now because of ONE man, Mel Karmazin.
Buying shares in SIRI now is a HUGE risk.
If, and this is a big if, SIRI can reach $1.00 per share, then it might be a safe buy short term.
Blah Blah Phoney….
Take your bashing elsewhere. To blame this on Mel is undebatable. Because it means your argueing from a position of insanity. I try not to argue with people who are not firmly based in reality. The designer and investor of this entire concept blamed the FCC for greating 2 companies. Then to make it the longest merger in history , was icing on the cake in their involvement. If you dont think the NAB was behind this, then I cant help you. Dont buy the stock. I really dont care what anyone here does. I am, and when it explodes Im going to LAUGH at you, and mock and ridicule you for being obtuse.
I will not be a good winner, because the likes of you deserve to be mocked for trying to convince someone to sell at .39 cent stock, nor to take a chance at these levels. This has been the only good time long term to own the stock. It bottomed. Must I explain what that means to you? No BK for 2 years, AT LEAST. No R/S needed until next year. Whats the problem? No faith in math? Its all math, your brining emotion into it. The math says they will make money. Or our economy NEVER recovers. If your betting on that, then pull all your money, and go hide in a cave somewhere. Business model is going to prove to be successful, now that the merger is done. I agree, with 2 companies, it could never work. Who would buy XM on the cheap? Plenty. You really think Malone was the only offer? And Ergen? Are you that naive? They wanted no outside forces controlling the mediums destiny. They won, enacting the only plan possible. ATT would buy them, Google, MSFT, a hundred companies would have made offers in BK for them for pennies. Then use the BLockbuster, Frito Lay method, and BK siriusxm next. Who cares if you lose money to do it, not the point.
No, I think I’ll continue to post here.
However, feel free to cheerlead SIRI as a perpetual penny stock.
I won’t laugh at you when the stock is at 20 cents. š
Your right. Yout wont. Because it will never happen. Actually, I hope it does. What a huge buying opportunity again. That would be a very very wonderful day in my life, if the MM’s give me another chance to make 300percent at .20 cents. I would LOVE THAT. This stock is a money maker now. Deal with it. O, please continue. Your funny actually, your right, you provide me plenty of entertainment while I wait to laugh at you. My 100 percent gains(from a full position, but I had a .07 cent to .40 cent trade that worked out pretty good for me) will speak for themselves. You go cry in your cheerios, and let me know how that works out for you. Your a joke. ANd so are you factless comment day after day after day. Same tired argument. Boring!!! I dont cheerlead, its called being “bullish”. Go look the term up, and get back to me, blah blah boring.
Itās amazing to me how we don’t look at the history of this companyās growth. Sirius & Xm were both growing leaps and bounds, till the idea of the merger was actually put into action by both companies. Well that’s where the 1st hurdle came; due to this event potential customers put themselves in a holding pattern. Next is the actual time line of the merger and the FCC. 18 months or a year and a half, either way it’s a life time for these 2 young companies. Mel could not have predicted this nor would most anyone have. Then finally they get the merger pushed thru, fantastic, not really because know comes Hank Paulson’s announcement that the possibility of a depression is pounding very strongly at Wall Streets door.
In all reality what would expect of a company banking on keeping new subs on track that happen to go hand in hand w/ new car sales? With the banks keeping their (our) tarp money under lock and key with a no loan policy what was Mel to do but make deal w/ Mr. Malone. If you don’t understand business & banking 101 then youāre naive to reality. Sure I like to question and criticize some of the lack of action on Sirius Xms part but in when it basically come down to is the economy stupid.
Getting back to my original point of the loss of momentum of new subs tanking, I think some of the points stated just might have a little to do with the current situation. Does anyone really think that just maybe there is not something to this argument? The risk on Sirius Xm is more based the economy, that is the dictator of the stock by and large. So if you don’t expect an economic turnaroud in the next year or so maybe you should sell. It’s like any other gamble it’s a risk!
Neal,
For the record, I run my own business and I certainly know more than any business & banking 101 course would teach.
You are giving Mel a pass that I won’t give.
He simply did not perform the due diligence regarding financing the merger.
He took the easy way out and accepted poor terms figuring he would be able to refinance later.
There was absolutely no honest assessment of the market at the time as well as lack of an honest assessment of Sirius-XM’s condition at the time and its future outlook.
Sorry, but that is very poor planning and a breach of fiduciary responsibility on Mel’s part.
We then have the sub-prime lending and financial crisis which puts the squeeze on liquidity for capital investment.
Mel certainly didn’t create this crisis.
However, the complete lack of proper financial planning for financing the merger put the shareholders in a very bad spot.
The share price plummeted and has never recovered to anywhere remotely close to pre-merger levels.
To his credit, Mel is able to put together a deal at the 11th hour that prevents an imminent bankruptcy filing.
However, Mel is forced to give up 40% of the company to do it.
Had Mel and his lemmings actually done their homework, they could have significantly mitigated their problems created in the financial markets as well as Siris-XM position in general.
Instead of getting a sound thrashing and being shown the door,
Mel gets a raise and a pass for being directly responsible for destroying shareholder value.
If Mel Karmazin had a conscience, he would resign immediately.
I also have to correct you on a major mistake you made.
You state risk on Sirius Xm is more based the economy.
Absolutely incorrect.
Sirius-XM is in the trouble it is in because of poor management and a fatally flawed business model.
Sirius never turned in profit in a god economy.
It’s wishful thinking that they could come out of a bad one and make it.
BahBah Booey what’s up man?
Mel Karzmin has been meeting his obligation to carry out the responsibilities with the utmost degree of “good faith, honesty, integrity, loyalty and undivided service of the beneficiaryās interest. Is this not what fiduciary responsibility generically means? Yes you are correct on some facts you post and from what I have read about you and your āwork ethicsā (admirable quality) are due some consideration, but you do not support your statements with evidence. I am not here to pick on your view or bash your view but actually encourage it. Do you have more insight to support your accusations of Karzmin personally bringing the stock price down? So then why was his contract extended? Why was he given a pay raise in a CRAP economy? Why was he given 120,000 OPTION shares at .43?
All the dirt you bring up is ābaked in the cakeā, so why are you so negative? Did you miss an opportunity and trying to talk the stock price down? If not, what is it?
Not because you have an opinion I question your agenda, but your persistency to find or point out negatives has me wondering your intentions? It is easy to be a Monday quarterback but what really would have or could you of (for that matter) done differently than Mr. Mel Karzmin CEO of SIRIUS XM?
The business you run, did it come with a crystal ball? If you planned a merger or an expansion of your company and all the expensive leg work ( atty’s, architects, accountants etc.) was in the works and you decided to go forward and say you felt secure with the bank and you moved forward with the expansion. Also lets also add in some delays once you try to move forward, none of which you expected or caused. Well in the middle of the project and out of nowhere the economy goes south. What would you do? The bank pulls your line of credit , who would you go to? Well as I have stated before on this and other related blog sites, this was the perfect storm. Yes, I too have been critical of Sirius Xm’s lack of marketing etc. But the big picture it was the FCC’s delay & now the economy. Last, but not the least, we are on the outside of this company trying to look in and if your in business for yourself you know as I well know that people that think they know your business better than you are always telling you what they would do if they were you (you know what I’m talking about). I’m 52 and have owned several businesses for 32 of those years and as you would know that during this poor economy most businesses are in survival mode. Donāt get me wrong, Iāll keep pounding away at Mel & co. to look at different ideas that āseem to meā to make sense, but this is just a sounding board. From reading some of your blogs Iām puzzled in your continued interest in this company, why not move on to some other company you believe in?
Neal,
I want Sirius-XM to survive for no other reason than I’m a subscriber.
I enjoy the product but not like I did when I first had it.
Management consistently makes poor decisions and has done nothing to eliminate the bad blood it created over poor customer service.
Just read some of the postings on the forums here and you’ll Sirius-XM customer service is a joke.
I want Sirius-XM management to take responsibility for the state of the company and restore shareholder value.
They haven’t done anything to that end and the market sees that.
It’s seems to be chic in this corporate culture to blame everyone else. Mel hasn’t taken ANY responsibility for ANY of Sirius-XM’s troubles.
SIRI is in very real trouble and unless they make some drastic changes, the delisting will be inevitable.
If that becomes a real possibility on the horizon, look for a buyout where the shareholders get whacked yet again.
Okay, it’s there now.
Bah Bah Booey nothing but negativity again! Pointing out situations most of us should be aware of already as the stock price shows it.
I disagree that customer service is a joke. Bitchers bitch, happy consumers dont. You seem to be a bitter exinvestor. There should be a seperate chat room for you. Because your babbling is just that. Babbling. Listen, now many times must you be wrong abou this company and stock before you realize your ONCE AGAIN, on the wrong side of the trade?