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Sirius XM Prepares for Possible Bankruptcy

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Originally posted by: Muadib
Originally posted by: Cattlegod
SIRI dropped 50% today under fears of shareholder dilution with their Feb 17th bill coming next week. I just picked up 1000 shares for $57.30. Crazy to think this was trading at $60/share in 2000.
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This is for you!😛
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Out at .105 today - Nice 83% return, if only it were 10,000 shares 🙂
 
You may have gotten out too soon. I read today that AT&T or Verizon might go after them as a
way to provide service in remote areas.
 
Originally posted by: Muadib
You may have gotten out too soon. I read today that AT&T or Verizon might go after them as a
way to provide service in remote areas.
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true, but no one ever went broke taking profits.
 
Heh... I bought a ton of this in my Marketocracy portfolio when it was 6 cents a share. It's too bad that putting all of your money in one stock is against the rules in that game 🙂
 
Originally posted by: Cattlegod

true, but no one ever went broke taking profits.
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All too True.

Too bad my cost is $0.17. Though it appears a loan my have been secured for the Feb. debt.
So, maybe I have another 3 months to work with.
 
Too bad sirius couldn't transform into a satellite video service. Movies and videos anywhere anytime...that would be cool.
 
I would be upset if Sirius XM stopped broadcasting. I've got a portable unit that I use at home, at work, and in the car. It really helps to make the day go by quicker at work with the music. Yeah I've got an MP3 player I could use, but I don't feel like having to search for new music all the time.

 
What's so bad about OTA radio? If you're around any decently populated area there has to be something you're OK with. No station is just going to play exactly what you want for free.

Hell when I go on road trips OTA is all I listen to. Always some variety.
 
Originally posted by: irishScott
What's so bad about OTA radio? If you're around any decently populated area there has to be something you're OK with. No station is just going to play exactly what you want for free.

Hell when I go on road trips OTA is all I listen to. Always some variety.
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Commercials, editing, talk radio and variety. There is zero comparison between OTA and satellite.

Commercial breaks are pretty awful, but I get more pissed at the editing. I don't need the FCC to tell me what words I can and can't hear in a song.
 
Originally posted by: Poulsonator
Originally posted by: irishScott
What's so bad about OTA radio? If you're around any decently populated area there has to be something you're OK with. No station is just going to play exactly what you want for free.

Hell when I go on road trips OTA is all I listen to. Always some variety.
Click to expand...

Commercials, editing, talk radio and variety. There is zero comparison between OTA and satellite.

Commercial breaks are pretty awful, but I get more pissed at the editing. I don't need the FCC to tell me what words I can and can't hear in a song.
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That's why you switch stations. 😛

As for the editing, I don't really care but to each their own.
 
Well, sir irishScott, some of us don't live near a highly populated area. There are some of us who live in smaller towns. And the FM radio stations here? They're a fucking joke.

I've had XM For 4 years and without it....well, my 1 hour of commute every day would really, really suck.
 
Originally posted by: Kalvin00
Well, sir irishScott, some of us don't live near a highly populated area. There are some of us who live in smaller towns. And the FM radio stations here? They're a fucking joke.

I've had XM For 4 years and without it....well, my 1 hour of commute every day would really, really suck.
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Yes, I know and you people have valid reasons (as do some others) but I just don't see how it got so popular in the first place. Seems kinda pointless to me.

As for population, even when I was driving through rural West VA I was able to find something, but that's me. I'll listen to practically anything that's not complete crap.
 
Even for some of us in fairly well-populated areas (Charlotte, NC) FM radio is a lame joke.

Nothing but talk radio & commercials. Seriously. I cannot find a music station in the morning for my alarm clock.
 
Wow, so what happens with all the satellites? That's some serious capital right there. Will the banks own them? lol

Though they have to find a way so they can offer it for free. Who actually pays for radio?
 
Originally posted by: RedSquirrel
Wow, so what happens with all the satellites? That's some serious capital right there. Will the banks own them? lol

Though they have to find a way so they can offer it for free. Who actually pays for radio?
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That's why Echostar (Dish Network) and Liberty (DirecTV) are in play here, they would be the two most likely candidates to re-purpose them or find a way to integrate them with their respective services.
 
Another thing, we hear of companies that are millions or billions in debt going bankrupt. How and why did they wait this long to do something about it? You don't accumulate billions of debt in a single month. 😱 I'm not an accountant nor expert at this, but if I saw that the company I work for is loosing money every month while doing accounting, I'd bring it up to higher ups and make sure they realize something seriously needs to get done to start making profit.
 
Originally posted by: RedSquirrel
Another thing, we hear of companies that are millions or billions in debt going bankrupt. How and why did they wait this long to do something about it? You don't accumulate billions of debt in a single month. 😱 I'm not an accountant nor expert at this, but if I saw that the company I work for is loosing money every month while doing accounting, I'd bring it up to higher ups and make sure they realize something seriously needs to get done to start making profit.
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A lot of it built up because of the merger with XM. The FCC held it "study and consideration" for 18 months.
Along with XM came ~2.8? billion in debt.
When car sales fell off income dropped.
Paying Stern 100 million a year for 5 years did not help. (note to self listen to this show just once)
Plus the MLB and NASCAR contracts...
Difficulty in refinancing since the meltdown etc.


I've read different accounts I.E. guesses that sub sales is 1.5 - 2.5 billion a year. With a total debt of ~4 billion outstanding.


Disclosure: I am a subscriber and a stock holder. And I have a habit of believing what I like. 😀




 
I had considered satellite radio some years back but the audio quality was a bit better than AM maybe. If it had been as good as FM I would have signed up, but gaining variety for two-tin-cans-and-a-string quality doesn't work for me.
 
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