Times Topics: Sirius XM Radio Inc.Sirius has been working with the
restructuring expert Joseph A. Bondi of Alvarez & Marsal and the
bankruptcy lawyer Mark Thompson of Simpson, Thatcher & Bartlett to help
prepare a Chapter 11 filing, peole close to the company said. The
documents and analysis are close to being completed and a filing could
come within days, according to a source familiar with the matter.
Sirius has also been working with investment bank Evercore Partners.
Charles Ergen, who controls a satellite-television empire including the
Dish Network Corporation and EchoStar, recently acquired the majority
of a $300 million tranche of Sirius debt that matures next Tuesday.
Since the news about the debt purchase has emerged, questions have
surfaced over whether Mr. Ergen will make a bid to purchase Sirius. The
threat of a possible bankruptcy filing could force Mr. Ergen to make a
formal offer for the company now if he doesn’t want to go through an
auction in bankruptcy court.
It could also compel Mr. Ergen to agree to convert his debt into an
ownership stake in Sirius at a higher price than he originally
considered.
http://www.nytimes.com/2009/02/11/technology/companies/11radio.html?_r=1&hp
When people hear about Stern's compelling interview of ... (wait for
it) ... *Al Roker*, they'll all sign up four or five times each.
On top of that fascinating subject, Stern speculated as to the fate of
Sirius' debt and wondered seriously if Echostar wanted to buy Sirius so
its CEO could meet Howard Stern.
Later the staff wondered if Stern himself could save eneryone by making
the $170M payment himself.
<< Later the staff wondered if Stern himself could save eneryone by
making the $170M payment himself. >>
Maybe it's part of Obammy's stimulus plan.
> Sirius XM Prepares Bankruptcy Filing
> Published: February 10, 2009
> Sirius XM Satellite Radio has been working with advisers to prepare for
> a possible bankruptcy filing in a move that could put pressure on
> satellite company EchoStar, which owns a substantial amount of the
> company’s debt.
> ...
Yup, who called it, YEARS ago:
From: Bill Reid <horme...@happyhealthy.net>
Subject: Re: Please help others with what you know about trading futures.
Date: Friday, February 04, 2005
...
Look, there's a stock now that everybody's interested in, ticker
SIRI. I can look into the wayback machine and tell you that with
about 95% probability that stock will be selling for no more than
$1 sometime in the future based on historical trends of valuation and
a quick sizing of the most optimistic estimate of their potential
market (it's bounded by the size of terrestrial radio). More
realistically, it would be over-priced at $0.15. Really, it's a
reasonable candidate for bankruptcy.
...
---end of archived article excerpt
So despite my property-tax-not-paying, "Campbell CA"-dwelling,
court-fee-waiving shenanigans, maybe you SHOULD listen to me
for investment advice (hell, maybe I should listen to ME, woulda
saved me a lot of 401(k) money today)...
...orrrrrr, you could listen to the one, the only, the often-imitated
but never duplicated, misc.invest.stocks "Dumb Mikey The First":
"For all of those who doubted me over the years, you can shove it where
the sun doesn't shine."
"First buy @3.60 and then other buys on the dips." (3/24/2008)
And amazingly, he's been pumping SIRI like crazy in the last few
weeks, right up to the last few days...now THAT'S dumb!!!
---
William Ernest Reid
It's a perfect model for corporate greed. Trust me, as I was with a company
that did the exact same thing. They used up gobs of cash generated by stock
sale, to start the business and acquire working infrastructure (in this case
major talent). Ran the stock down to pennies per, then declared bankruptcy.
Ditched most of the debt. Then went private with an equity firm, where they
became a very fast-growing company (until the current crisis knocked their
asses in).
The bankruptcy comes now, to prevent Echostar from making a run at the
company. A equity group will take the company private in a purchase and go
from there, leaving the individual investor with toilet paper. Five bucks
says that any equity firm taking over that company, if you look closely at
the investors, will have Mel, and Howie, and a few more high-up Sirius-XM
execs.
>Sirius XM Prepares Bankruptcy Filing
oh OH
>
>When people hear about Stern's compelling interview of ... (wait for
>it) ... *Al Roker*, they'll all sign up four or five times each.
Plus Ron Howard, via landline.
Hey, about eight years ago, just about everybody in America was in a
company that did that! (I know I was.) It was the called the whole dot-com
scam...and it WAS a SCAM, as the Henry Blodgett emails revealed (remember
him...or "Merrill-Lynch", the company he worked for?)...
If an idiot like me can call the scams years before they go belly-up,
you gotta believe the sharpies on Wall Street know exactly what they're
doing when they're engineering them...
> They used up gobs of cash generated by stock
> sale, to start the business and acquire working infrastructure (in this case
> major talent). Ran the stock down to pennies per, then declared bankruptcy.
> Ditched most of the debt. Then went private with an equity firm, where they
> became a very fast-growing company (until the current crisis knocked their
> asses in).
>
Well, that's ONE way to do it...but remember, if everybody cashes out
their stock options when things are flying high (or cashes out by whatever
means), you don't need an actual viable company to emerge from
bankruptcy...just take the money and move on to the next scam...say,
like move from "dot-coms" to "securitized real estate loans", as a
hypothetical example...
> The bankruptcy comes now, to prevent Echostar from making a run at the
> company. A equity group will take the company private in a purchase and go
> from there, leaving the individual investor with toilet paper. Five bucks
> says that any equity firm taking over that company, if you look closely at
> the investors, will have Mel, and Howie, and a few more high-up Sirius-XM
> execs.
>
Well, let's see...they DO have subscribers, so some revenue base,
but can they keep the "birds in the air" and the "talent in the nest" and
still make a profit, even after screwing over millions of debt- and
stock-holders?
---
William Ernest Reid
Who has the money to hire him?
He will be unemployed in a recession.
More Hman Karma kicking him in the nuts with a steel toed boot.
> The bankruptcy comes now, to prevent Echostar from making a run at the
> company. A equity group will take the company private in a purchase and go
> from there, leaving the individual investor with toilet paper. Five bucks
> says that any equity firm taking over that company, if you look closely at
> the investors, will have Mel, and Howie, and a few more high-up Sirius-XM
> execs.
They have fundamental problems trying to get people to pay for radio.
But this economy isn't helping either.
Besides all the job losses leading to people tightening their purses,
the steep drop in car sales cuts off a major revenue source.
But seriously, A-listers like Brad Pitt would be more interesting? Not
that they'd subject themselves to highly personal questions.
>
> Who has the money to hire him?
>
> He will be unemployed in a recession.
>
>
> More Hman Karma kicking him in the nuts with a steel toed boot.
He'll probably not have to worry much about finding a job, don't you
think?
Karma kicked him with a 500 million dollar boot. Do you think he is
fearing unemployment? You seem to be the dumbest person on the
internet, tell us how health classes will doom society. To quote the
great Ron Bennington "STOOOOOPid"
Howard didn't need that 500 mil to start with. What hurts Stern the
most is being a has-been. Having to go back to terrestrial radio
would mean admitting defeat and sucking up all those stories about how
regular radio sucks and satellite is the revolution and the future.
But by now we're all used to him being a hypocrite. Maybe he'll stay
home and raise the baby while his wife goes out and "models" for a
living...
--
lab~rat >:-)
Do you want polite or do you want sincere?
>Karma kicked him with a 500 million dollar boot. Do you think he is
>fearing unemployment? You seem to be the dumbest person on the
>internet, tell us how health classes will doom society. To quote the
>great Ron Bennington "STOOOOOPid"
So status, stature, the opinions of others, public humiliation, public
failures...none of that matters in your idiot brain...
You are quite the idiot.
Ever see your mother naked?
> In article <MJpkl.194125$XA2.1...@fe02.news.easynews.com>,
> "BaJoRi" <baron...@aol.com> wrote:
>
>> The bankruptcy comes now, to prevent Echostar from making a run at the
>> company. A equity group will take the company private in a purchase and go
>> from there, leaving the individual investor with toilet paper. Five bucks
>> says that any equity firm taking over that company, if you look closely at
>> the investors, will have Mel, and Howie, and a few more high-up Sirius-XM
>> execs.
>
> They have fundamental problems trying to get people to pay for radio.
That's a pretty important fundamental, don't ya think?
>
> But this economy isn't helping either.
It's only $13 a month, blah, blah, blah...
>
> Besides all the job losses leading to people tightening their purses,
> the steep drop in car sales cuts *the only* revenue source.
Fixed it for you.
> Mel, and Howie, and a few more
> high-up Sirius-XM execs.
I think including HS in there doesn't make sense ... he's no businessman,
and to Mel he's convenient talent at best, and a demanding, meddling,
annoying ass at worst.
Stern doesn't want to work much longer - *especially* for a reduced or
uncertain paycheck, so even if you believe the deluded assholes who think
that Stern's responsible for all of the subs, Mel can't count on him to
keep a reborn Sirius alive.
Stern will retire or work an extremely reduced schedule.
Just curious .. All those XM and SIRIOUS receivers that people bought ....
are they going to end up as paper weights and doorstops ? Or can they be
used to receive FREE radio ?? If this is the end of satellite radio, Stern
will use that as his excuse to go back to Free Radio instead of his being a
failure .. Will anyone want him now ? Maybe Howie can start peddling things
in commercials like penis pills etc .. Jokie can give him a few plugs ..
--
==========
Writing, not typing, on my umpc.. Please forgive any wrytos!
diane whatever
Maybe he can do internet radio ? Seriously .. How hard is Alisson and her
new Hubby laughing at Howard every morning over coffee... New Hubby/Daddy
looks over the top of his newspaper and says ... "siri stock .. 6 cents."
and then they both bust a gut laughing ... Mean while the kids have to be
embarrassed until nobody ever mentions his name again .. Maybe SJ can get
Stern a job in 'the business.'
Diane
It is more about ego than money .. How long before Betho says "I'm outta
here."
Car sales being down is a BIG problem for pay radio. How many people are
going to subscribe
without first seeing what it has to offer? I wonder how many satellite
radios were given as
Christmas presents this year ?
> On Feb 10, 9:45 pm, "Rev. Dr. Rev. R. Ben Rand III, Esq, PhD"
> <fi...@absolution.coim> wrote:
>> On Tue, 10 Feb 2009 18:40:38 -0800 (PST), Drumrboy <drumr...@aol.com>
>> wrote:
>>
>> >On Feb 10, 5:53 pm, KK <_...@furburger.net> wrote:
>> >> No, wait!
>>
>> >> When people hear about Stern's compelling interview of ... (wait for
>> >> it) ... *Al Roker*, they'll all sign up four or five times each.
>>
>> >> On top of that fascinating subject, Stern speculated as to the fate
>> >> of Sirius' debt and wondered seriously if Echostar wanted to buy
>> >> Sirius so its CEO could meet Howard Stern.
>>
>> >> Later the staff wondered if Stern himself could save eneryone by
>> >> making the $170M payment himself.
>>
>> >How long before Hoo Hoo is back on *real* radio?
>>
>> Who has the money to hire him?
>>
>> He will be unemployed in a recession.
>>
>> More Hman Karma kicking him in the nuts with a steel toed boot.
>
> Karma kicked him with a 500 million dollar boot.
He hasn't gotten $500M.
> But by now we're all used to him being a hypocrite. Maybe he'll stay
> home and raise the baby while his wife goes out and "models" for a
> living...
Right, bareback, GFE "modeling" by the hour.
> Yeah, he'll be hitting breadlines and begging for gub'mint cheese just
> like you, Pissboy.
Pretty sure you're closer than anyone here to that, JD. If the Mrs.
leaves you, you'll have no place to live, plus owe child support. You'd
be fucked.
Once Stern digs himself a basement, he will NEVER come out of it. Maybe he
can get a gig
on short wav radio ..
Stern: Robin - is it time to go ??
Robin: 10-4 good buddy !!
It's a lot easier to be a failed musician with a real job, that's for
sure...
> My kids are grown.
You'd still be fucked.
>On Wed, 11 Feb 2009 15:12:20 GMT, KK <_K...@furburger.net> wrote:
>
>My kids are grown.
You mean they passed you?
just begging for air time .. radio, tv, movies or print .. He'll be kissing
up to Stuttering John [get me on Leno] or saying to Billy West "I have an
idea for a animated movie .. "
I'm sure playing for Bowser has plenty of benefits. He could be the
cabana boy for some 90 year old Village broad...
Think of playing and getting those Depends thrown at you...hot hot hot..
Yepp
>>>just begging for air time .. radio, tv, movies or print .. He'll be
>>>kissing up to Stuttering John [get me on Leno] or saying to Billy West
>>>"I have an idea for a animated movie .. "
>>>
>>>
>>I'm sure playing for Bowser has plenty of benefits. He could be the
>>cabana boy for some 90 year old Village broad...
>
> She's talking about Stern, not me.
Well, same thing - except John or Billy wouldn't talk to you.
> I don't know who's the bigger
> idiot...
The rest of us do.
> you for thinking she was talking about me, or her for thinking
> that Stern gives a rat's ass about anything at age 55 with hundreds of
> millions in the bank.
He doesn't have hundreds of millions in the bank. We've been through
this.
>On Wed, 11 Feb 2009 15:30:47 -0500, "lab~rat >:-)" <ch...@cheeze.net>
>wrote:
>She's talking about Stern, not me. I don't know who's the bigger
>idiot...you for thinking she was talking about me, or her for thinking
>that Stern gives a rat's ass about anything at age 55 with hundreds of
>millions in the bank.
My mistake, and as punishment, I deserve to be called an idiot by you.
Which is saying tons...
Handicapped ramps make loading the tour bus easier.
> She's talking about Stern, not me. I don't know who's the bigger
> idiot...
OOH! OOH!!! I KNOW!!!! PICK ME! PICK ME!!!!
Whoa, that's like idiot squared.....
where did I read they were school age .. didn't that come from you ?
> So you have access to his finances? Face it, shitheel, you always act
> like you know everything, but you don't know fuck.
We all know what Stern gets per year. We all know what he got for his
options, and the last time you made stupid noises like this, a *very*
generous estimate of what he might have had from his terrestrial days
along with what he's made at Sirius does not by any stretch of the
imagination leave him with "hundreds of millions in the bank". Since I
don't x-no-archive like a faggot, you can go read it yourself.
It's not that I pretend to know something nobody else does - it's that
you ignore and *don't* know something that *everybody* else does.
> If you did, you
> wouldn't be stealing time from your bosses posting on here from your
> cubicle.
You keep going to that lame old one where you make fun of me for having a
good job. I easily pay more in taxes than you make, dummy, and you
*wish* you could do what I do.
If it was about ego he would be working on his show 5 days a week and
not taking vacations. He was ready to retire when he left KRock, the
only thing that changed his mind was the huge deal.
> OK, you're the bigger idiot.
I wasn't a choice, Mr. English major law minor.
> Yes, I wish I could steal time from Bowzer while I'm onstage. Yes,
> I'd rather sit in an office driving myself crazy than traveling the
> world and plinking on a bass or guitar.
The world!!
BWAAAAAAHAHAHAHHAHAAAAAAAA!!!!
I guess the old farts home *IS* part of the "world"
>>You keep going to that lame old one where you make fun of me for having
>>a good job. I easily pay more in taxes than you make, dummy, and you
>>*wish* you could do what I do.
>
> Yes, I wish I could steal time from Bowzer while I'm onstage.
I don't steal anything.
> Yes, I'd
> rather sit in an office driving myself crazy than traveling the world
> and plinking on a bass or guitar.
You travel where Bowser tells you to. I travel wherever I want.
> Been to Germany twice, been all over New Zealand, been all over the
> Caribbean, been to Canada and Mexico many many times.
Canada and Mexico?! Well, why didn't you say so? And doesn't Florida
stick out into the Carribean? In other news, I was on Long Island.
> On Wed, 11 Feb 2009 17:06:07 -0500, Drumrboy <dru...@aql.com> wrote:
>
> Been to Germany twice, been all over New Zealand, been all over the
> Caribbean, been to Canada and Mexico many many times.
>
> Now get back in that Subway kitchen in Shitfuck, GA and make me a
> sandwich.
Tell ya what Jocko. Sing me a song and I'll have my people send you a
Veggie Delight.
Actually, Jocko travels to where his boss Rocky tells him to.
Bowzer tells *Rocky* where he's traveling to.
> Whatever. You guys just try to contain your jealousy.
I'll try my best, Jimmy. Bur for my money, if you have to wear that
fucking atrocious golden bowling shirt to do your job, you might as well
be blowing audience members after the gig.
That's not true. The ego part is all about being on the air and
relevant.
>They were school age a few years ago. Now one's 19 and the other is
>almost 18.
So the 17 year old dropped out of school?
I quit McDonalds when I was 16 and swore I would never have another
job where I had to wear a uniform...
> On Wed, 11 Feb 2009 13:54:58 -0800 (PST), "X...@XXX.COM"
> <dtom...@aol.com> puked:
>
>>On Feb 11, 10:04Êam, "JeWitch" <who...@you.know.com> wrote:
>>> "X...@XXX.COM" <dtomba...@aol.com> wrote in message
>>>
>>> news:8314e315-0e5c-44d8-975a-
62a263...@x10g2000yqk.googlegroups.co
>>> m... On Feb 10, 9:45 pm, "Rev. Dr. Rev. R. Ben Rand III, Esq, PhD"
Too bad that he's neither now!
Yepp
I will tune in to the first show on terrestrial radio to hear the
bullshit spin as to why he had to come back with his tail tucked
between his legs...
>I will tune in to the first show on terrestrial radio to hear the
>bullshit spin as to why he had to come back with his tail tucked
>between his legs...
My fans weren't getting the great radio they deserved, and lookit, I
heard from plenty of people that sometimes censorship is not a bad
thing.
Bush ruined the economy in an attempt to make me fail at satellite
radio.
and if he wanted to be on the air more or more relevant he would spend
more time working and less time vacationing.
He got his big payday and now he's coasting to the finish line.
The day they moved to florida they effectively dropped out of school.
>On Feb 12, 7:22 am, "lab~rat >:-)" <ch...@cheeze.net> wrote:
Yet the illiteracy rate is higher in NY than Florida...
Thank you for proving my point, the literacy rate for people over 25
who have completed high school is nearly identical for NY and Florida.
I don't understand how anyone can get through high school and remain
illiterate but according to those stats over 10% of people in NY and
Florida are listed as illiterate.
If you were trying to refute my jokes about education ("book learnin"
for you floridians) you would use an index like the "Best Educated
Index" and see that NY, CT, VT, MA and NJ all rank in the top 10,
while the bottom 20 is made up of southern states. An interesting stat
for you, West Virginians (#34) are better educated than Floridians
(#36).
We don't expect you to keep up with us northerners, but for god's sake
don't make a fool of yourself trying to compare a state that loses to
Arkansas and West Virginia with any of the top 10.
>On Feb 12, 1:42 pm, "lab~rat >:-)" <ch...@cheeze.net> wrote:
http://nces.ed.gov/naal/estimates/Estimates.aspx?SearchType=3
22% New York
23% California
20% Florida
And that's saying a lot considering all the illegal aliens that
California and Florida have in comparison to New York.
>On Feb 12, 1:42 pm, "lab~rat >:-)" <ch...@cheeze.net> wrote:
Oh, and here:
http://nces.ed.gov/naal/estimates/Estimates.aspx?SearchType=3
I understand that you are arrogantly ignorant and like to see things
in the simplest terms possible, but illiteracy rates are not an
indicator of the quality of education available in a state. A person
who is illiterate has managed to avoid education altogether or is
mentally impaired. The quality of a state's education system is based
on many factors, illiteracy rates are not that important.
If you check the index I mentioned you might understand the
difference. If not, I understand, its not like you had the opportunity
to get educated like the folks in the academic powerhouse states West
Virginia and Kentucky.
Showing me a table that estimates low literacy only proves that you
really don't understand what you are talking about. Estimating the
number of illiterate adults who never went to school here or do not
speak english proves nothing about what you think you are proving.
As for illegal immigrants, NY has more than florida, only Texas and
California have more than NY. Again, this has nothing to do with the
quality of education available, I just thought I'd let you know that
you are wrong about everything.
>On Feb 12, 3:36?pm, "lab~rat >:-)" <ch...@cheeze.net> wrote:
>> On Thu, 12 Feb 2009 12:15:07 -0800 (PST), "X...@XXX.COM"
>> <dtomba...@aol.com> puked:
>>
>>
>>
>>
>>
>> >On Feb 12, 1:42?pm, "lab~rat ?>:-)" <ch...@cheeze.net> wrote:
>> >> On Thu, 12 Feb 2009 10:38:30 -0800 (PST), "X...@XXX.COM"
>> >> <dtomba...@aol.com> puked:
>>
>> >> >> >>>>Pretty sure you're closer than anyone here to that, JD. ?If the Mrs.
>> >> >> >>>>leaves you, you'll have no place to live, plus owe child support. ?You'd
>> >> >> >>>>be fucked.
>>
>> >> >> >>> My kids are grown.
>>
>> >> >> >>where did I read they were school age .. didn't that come from you ?
>>
>> >> >> >They were school age a few years ago. ?Now one's 19 and the other is
>> >> >> >almost 18.
>>
>> >> >> So the 17 year old dropped out of school?
>> >> >> --
>> >> >> lab~rat ?>:-)
>> >> >> Do you want polite or do you want sincere?- Hide quoted text -
>>
>> >> >> - Show quoted text -
>>
>> >> >The day they moved to florida they effectively dropped out of school.
>>
>> >> Yet the illiteracy rate is higher in NY than Florida...
>> >> --
>> >> lab~rat ?>:-)
>> >> Do you want polite or do you want sincere?- Hide quoted text -
>>
>> >> - Show quoted text -
>>
>> >Thank you for proving my point, the literacy rate for people over 25
>> >who have completed high school is nearly identical for NY and Florida.
>> >I don't understand how anyone can get through high school ?and remain
>> >illiterate but according to those stats over 10% of people in NY and
>> >Florida are listed as illiterate.
>>
>> >If you were trying to refute my jokes about education ("book learnin"
>> >for you floridians) you would use an index like the "Best Educated
>> >Index" and see that NY, CT, VT, MA and NJ all rank in the top 10,
>> >while the bottom 20 is made up of southern states. An interesting stat
>> >for you, West Virginians (#34) are better educated than Floridians
>> >(#36).
>>
>> >We don't expect you to keep up with us northerners, but for god's sake
>> >don't make a fool of yourself trying to compare a state that loses to
>> >Arkansas and West Virginia with any of the top 10.
>>
>> Oh, and here:
>>
>> http://nces.ed.gov/naal/estimates/Estimates.aspx?SearchType=3
>> --
>> lab~rat ?>:-)
>> Do you want polite or do you want sincere?- Hide quoted text -
>>
>> - Show quoted text -
>
>Showing me a table that estimates low literacy only proves that you
>really don't understand what you are talking about. Estimating the
>number of illiterate adults who never went to school here or do not
>speak english proves nothing about what you think you are proving.
It proves exactly what I think I am proving.
Exactly, that southerners (Floridians especially) are poorly educated.
You've proven that hundreds of times in hundreds of ways.
>> >Showing me a table that estimates low literacy only proves that you
>> >really don't understand what you are talking about. Estimating the
>> >number of illiterate adults who never went to school here or do not
>> >speak english proves nothing about what you think you are proving.
>>
>> It proves exactly what I think I am proving.
>> --
>> lab~rat >:-)
>> Do you want polite or do you want sincere?- Hide quoted text -
>>
>> - Show quoted text -
>
>Exactly, that southerners (Floridians especially) are poorly educated.
>You've proven that hundreds of times in hundreds of ways.
Did I say something to hurt your feelings? You're acting like a
wounded little bitch for some reason. LOL