| The FinancialContent Network SocialPicks Community | MarketMinute Monitor | MarketMinute Market Updates | MarketMinute Stock News |
|
Growth Slowing for Sirius and Merger Synergies Could Take Time; Reiterate Hold |
|
| May 02, 2008 05:11 PM UTC |
|
Tracked Blogger
|
4/24 - "...it seems unlikely that the FCC will vote on the
"Sirius should report first quarter 2008 results in early May
"Sirius trades at 5x 2008E revenue and $531 per our 2008
"Our $3 price target reflects a more moderate near-term growth in satellite radio and more cautious view that merger synergies could take several years to meaningfully change the financials and valuation...We rate Sirius Satellite Radio a Hold." |
|
|
November 03, 2008
SIRIUS Shareholders File Suit Against SIRIUS XM Radio Management
|
||||||
|
|
|||||||
|
|
if you are sirixm holder and know other shareholders please pass this on SAVE SIRIUS P.O. Box 7078 Laguna Niguel, CA 92607 949-795-0580 November 5, 2008 Gary Parsons Chairman of the Board c/o Board of Directors Sirius Satellite Radio, Inc. 1221 Avenue of the Americas 36th Floor New York, NY 10020 Sub: Formal Letter of Demand I am a shareholder and a member of the recently formed shareholders’ group, Save Sirius. Save Sirius and its members, in this Formal Letter of Demand, call on the Sirius XM Board of Directors to: Postpone the vote that is asking shareholders to consider the further dilution and increase of shares from 4.5 billion to 8 billion in the fully diluted float
Given the NASDAQ’s reprieve of delisting securities below a dollar, there is time for this board to convene an emergency meeting to consider other options, such as but not limited to, self-funding by shareholders. This will give the Corporation time and means to obtain the additional funding from a position of strength and not from a position of desperation. We are calling on the board to indefinitely postpone the shareholder vote giving time for management and its shareholders to address any and all viable options to prevent the massive amounts of dilution being proposed by this board as well as the proposed reverse stock split. We demand the board grant a meeting with all interested parties to address alternatives that would be more in line with shareholders’ interests. If the board continues with the scheduled vote, not meeting our demands, we will hold them in violation of their fiduciary duties and seek injunctive relief. As the board is aware, there are (RICO) charges pending before a Federal Court in California that accuse this board and its executives of racketeering, breach of fiduciary duty as well as Sherman Act Violations. The conspiracy to withhold and commercially introduce interoperable radios, to obtain control of all of the SDARS spectrum and to consummate the merger between XM and Sirius at any and all cost, without consideration of the impact on the corporation and its shareholders, gives us cause to deem this board not fit to make proper decisions on behalf of the shareholders.
c/o Board of Directors November 5, 2008 Page 2
It is inconceivable that this board would lock their shareholders into the longest merger delay in history without having already obtained the proper financing. This board and CEO Mel Karmazin, publicly stated on multiple occasions that if this merger was not in the shareholders’ best interest and “did not make senseâ€, they would walk away. The fact that the promises made to the shareholders were breached and that this merger was consummated under what Mr. Karmazin called “toxic terms†has resulted in catastrophic losses (over 90%) in shareholder value. It should be noted that the “toxic termsâ€( included the issuance of 300 million shares of the Corporation stock to be given to the financiers of XM’s debt for the sole purpose of being sold short on the open market). It is clear that this board is self dealing and it has not fulfilled its fiduciary duty to shareholders. This has been a well-orchestrated multi-year conspiracy to consolidate the SDARS spectrum which included willful violation of their licensing mandate as well as willful violation of their Joint Development Agreement. The final chapter in the conspiracy will be to privatize the combined entities thereby stealing it from its rightful owners, the shareholders. Mr. Karmazin was brought out of retirement by Mr. Leon Black of Apollo, a member of the board. In a September 15th 2008 Wall Street Journal article written by Sarah McBride, she states, "Given Sirius XM's low stock price, Mr. Karmazin said he would love to take the company private. But given the state of the credit markets, 'How do you find [the money] today?' If the company were generating positive cash flow, which he expects it to do for the full year in 2009, privatization would become much more feasible, he says." Given Mr. Karmazin’s connection with Mr. Leon Black (founder of one of the largest private equity firms in the country), as well as comments made in his Wall Street Journal interview, it is obvious there are severe conflicts of interest between Mr. Karmazin, the board, and their shareholders. It is their goal to privatize this company that is completely adverse to their fiduciary responsibility to enhance shareholder value. To suggest privatization at these levels speaks for itself and the board should call for Mr. Karmazin’s resignation. We are asking those board members who have been complicit in this conspiracy, to step up and perform their fiduciary duty to we the shareholders, by seeking an orderly replacement of our CEO. We would like to take this opportunity to remind the board and executives of SiriusXM that they work for us. It is we, the shareholders, that own this company. As stated above, if the board continues with the scheduled vote, not meeting our demands, we will hold them in violation of their fiduciary duties and seek injunctive relief. As time is of the essence, we expect a written response within five days from receipt of this letter. Your failure to respond accordingly will result in drafting of the required documents to seek a preliminary injunction. Respectfully submitted on behalf of Save Sirius: SaveSirius@gmail.com SaveSirius.org Signed By: ___________________________________ _________________ Print Name Date ___________________________________ Signature |
||||||
|
|
|||||||
|
|
Bring mac makeup or mac cosmetics with you that will make you more beauty and confidence in your life. |
||||||
|
|
|||||||
|
|
I love ice hockey jerseys!I bought 2 pairs detroit red wings at the hartford whalers shop.lakings feel so much more comfortable and are so much sexier than I would know. wild hockey on sale are very friendly. I live in CA but call to order often and Scott always helps me pick out the most perfect montreal canadiens. They do special orders of shoes from past seasons for a 30% upcharge as long as they still have the materials and free shipping!. These are adorable shoes.I get compliments every time I wear christian louboutin pumps uk. They fit well and are quite comfortable; I walked around downtown DC today at lunchtime w/no problems. Christian louboutin pumps sale is good on the website.I hope that I can share my happiness and good things with you! |
||||||
|
|
|||||||
|
|
In Australia sheepskin shoes is not a brand name, but rather the name of a style of ugg classic that had originated in Australia about 100 years ago. There is no question of where 'ugg' footwear style came from, even the USA based and owned company Deckers Outdoor Corporation who mass-produce their ugg boots in China under 'UGG Australia' brand use the name of our country - Australia - in the name of their USA brand, because Australia is the country of origin of ugg shoes.In 1978, Brian Smith, a young surfer from Australia, travelled to the USA with a few pairs of uggs in his backpack. He set up a company, Ugg Holdings Inc, which was importing five fingers to the United States. In 1995 the USA company - Deckers Outdoor Corporation had acquired Ugg Holdings Inc, and established the USA owned and based brand of boots - 'UGG Australia'. |
||||||
|
|
|||||||
|
|
was a very good article, but a few health matter more than your labor, but still very nice, thank you not understand..
|
||||||
|
|
|||||||
|
|
thanx for all ... خلفيات
good bay |
||||||
|
|
|||||||
|
|
Supra Boots Shoes
|
||||||
|
|
|||||||
|
|
buy asics gel for kids
|
||||||
|
|
|||||||
|
|
nike shox clearance nike shox clearance|
|
||||||
|
|
|||||||
|
|
jctd
|
||||||
|
|
|||||||
|
|
jctd
|
||||||
|
|
|||||||
|
|
Jctd
|
||||||
|
|
|||||||
|
|
Jctd
|
||||||
|
|
|||||||
|
|
The hottest fashion uggs are on great discount now ! All of these discount uggs feature a soft foam insole covered with genuine sheepskin and have a molded EVA light and flexible outsole designed for amazing comfort with every step. There are so many styles of uggs on sale that the UGG boot sale are growing fast. Anyone who want to buy fashionable and comfortable UGG boots can go tooutlet uggs where the discount are up to 50%,uggs for cheap in our store. discount uggs ;
|
||||||
|
|
|||||||
|
|
Alexander McQueen shoes
|
||||||
|
|
|||||||
|
|
Diane Von Furstenberg Dress
|
||||||
|
|
|||||||
|
|
xyy
Puma shoes has become the fastest growing sports brand. The answer just is go into Puma Outlet, and here you can discover variety of cheap puma shoes, and buy one pair of health Puma Speed Cat for yourself or your good friends. We will provide high quality and smile service. Our Puma store has been put the new design in the fashion design and living area with shoes, and PUMA Drift Cat is one of Mens Puma Drift Cat the world leading sport lifestyle companies that designs and Womens puma running shoes develops footwear, apparel and accessories. Puma online in sport and ends in Fashion. Plus on these stores, you will discover a great deal of great Nike puma shoes on the many styles of PUMA Shoes for Men. You can select puma sneakers in bold mixture of colors, peerless and high quality sneaker fashioned with high-gloss overlays in different style and size. To end with, Puma shoes 2010 have that timbre to satisfy your every need. The variety is so huge, PUMA Shoes for Men can be taken from the gym to the city at night, as long as you know how to wear sports PUMA Shoes. Puma sale products are also popular within the running, motor sports, and sailing industries. Now puma sneakers are available in so much variety Womens Puma Drift Catand style that you can select your choice sneaker according to your preferences. These Puma shop for Women are available right now at select. |
||||||
|
|
|||||||
|
|
places, so the headquarmoncler jackets outlet ters of the telegraph did not see.The so-called military movements, but moncler outlet feint, Britain, Fra nce and other powers to give a warning. Now see the headquarters moncler on saleof the telegraph, they fear, guilt is difficult speech, the request command shall bdr dre beats outlet e punished.Meanwhile, Tang Jiyao also handed a list of the disposal of the following officcheap beats by dre ers, claimed that these people are misunderstood his orders to troops to the wrong place. Camonster beats outlet ll back to this nonsense is simply scattered with open eyes, how important the headquaMoncler Outletrters of the telegraph, which was the special duty line, you can not see?Concerned abou tMoncler Jackets the security of Hong Kong, feint forces.Well, even if you feint forces operator, why all thMoncler Onlinee military transferred to Guangdong-Jiangxi border, the border in Guangdong and FujianCheap Moncler Jackets , Guangdong, Hunan, Guangxi border?Say, you feint forces, have
|
||||||
|
|
|||||||
|
|
i like what you show and it's really interested ..Let me copy it to my site
how to get your ex attention[*]
|
||||||
|
|
|||||||
|
|
Welcome to http://www.mbtshoesgo.org.At MBT it is our philosophy to keep the body in motion. We believe motion is key to helping find and maintain the right balance in life. At MBT, we can help achieve this through our unique shoe design that combines a perfect balance of function with style.MBT Chapa | MBT Chapa GTX | MBT Fanaka GTX | MBT Fora | MBT Kafala | MBT Karibu | MBT Kifundo | MBT Kisumu | MBT Koshi | MBT M.Walk | MBT Maliza | MBT Moja Mid | MBT Safiri | MBT Sandals | MBT Shuguli GTX | MBT Sini | MBT Sport | MBT Tataga | MBT Tembea | MBT Tupu | MBT Vizuri GTX | MBT Wingu | MBT Baridi | MBT Bomoa | MBT Changa | MBT Chapa | MBT Chapa GTX |MBT Ema | MBT Fitness | MBT Fora | MBT Habari | MBT Jawabu | MBT Kafala | MBT Kamba | MBT Karani | MBT Karibu | MBT Katika | MBT Kaya | MBT Kisumu | MBT Koshi | MBT Lami | MBT M.Walk | MBT Maliza | MBT Moja | MBT Moja Mid | MBT Nama | MBT Panda |MBT Pia | MBT RaHa | MBT Salama | MBT Shadow | MBT Sini |MBT Sport | MBT Swala | MBT Tabia | MBT Tataga | MBT Tembea | MBT Tenga | MBT Tunisha | MBT Tupu | MBT Vizuri GTX | MBT Voi | MBT Wave | MBT Wingu We are natural health store and online retailer offering you health articles, product information and one of the largest selections of natural health products in the world. We're proud to offer you thousands of dietary supplements, health-related housewares and healthy lifestyle products.Enjoy yourself here.Good luck. |
||||||
|
|
|||||||
|
|
MBT Shoes is creating a stir over the last few years. Many fitness trainers are impressed with the health benefit which gets while wearing MBT -shoes.MBT shoes are the most popular walking shoe today.The shoes are technologically advanced to make your walking workout more effective. We provide multitudinous of styles of MBT shoes in http://www.mbtshoeshot.org/ And they are ranked below: MBT Chapa | MBT Chapa GTX | MBT Fanaka GTX | MBT Fora | MBT Kafala | MBT Karibu | MBT Kifundo | MBT Kisumu | MBT Koshi | MBT M.Walk | MBT Maliza | MBT Moja Mid | MBT Safiri | MBT Sandals | MBT Shuguli GTX | MBT Sini | MBT Sport | MBT Tataga | MBT Tembea | MBT Tupu | MBT Vizuri GTX | MBT Wingu | MBT Baridi | MBT Bomoa | MBT Changa | MBT Chapa | MBT Chapa GTX | MBT Ema | MBT Fitness | MBT Fora | MBT Habari | MBT Jawabu | MBT Kafala | MBT Kamba | MBT Karani | MBT Karibu | MBT Katika | MBT Kaya | MBT Kisumu | MBT Koshi | MBT Lami | MBT M.Walk | MBT Maliza | MBT Moja | MBT Moja Mid | MBT Nama | MBT Panda | MBT Pia | MBT RaHa | MBT Salama | MBT Shadow | MBT Sini | MBT Sport | MBT Swala | MBT Tabia | MBT Tataga | MBT Tembea | MBT Tenga | MBT Tunisha | MBT Tupu | MBT Vizuri GTX | MBT Voi | MBT Wave | MBT Wingu With the MBT shoes, versatility is at your disposal.These MBT -shoes are really cool to wear and their benefits makes the footwear line a popular choice. |
||||||
|
|
|||||||
|
|
Essay Writing Paper Provided – Buy Essay, Buy Dissertation, Dissertation Writing, Thesis Writing, Research Paper Writing, Buy Term Paper, Sample Essays order quality academic writings of any difficulty level with 100% originality guarantee all written by MA and PhD holders! |
||||||
|
|
|||||||
|
|
IN THE PRESS |
|
|
|
|
|
|
| About | RSS | Feedback | Contact Us | Terms of Service | Privacy |
© 2009 FinancialContent Services, Inc. |
|
Data powered by FinancialContent. All Rights Reserved. Quotes delayed at least 20 minutes unless otherwise indicated. |
|
None of the information contained on SocialPicks.com constitutes a recommendation by SocialPicks or its users that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. SocialPicks is not responsible for the posts, discussions, and recommendations of the users on the Site. SocialPicks does not provide investment advice. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the website. SocialPicks' users' past results are not necessarily indicative of future performance. Neither SocialPicks nor any of its users guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the website. You understand and agree that you use the Site and Services at your own discretion and risk and that you will be solely responsible for any damages that arise from such use. Before acting on any information contained on the website, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser. |