Mel Karmazin, CEO of Sirius XM Radio Inc., continued his rounds today with an appearance on CNBC.It's a good interview, nothing that we haven't heard before, but it's nice to hear it again. Main takeaway that Mel appears to be trying to push: This is now a strong company that is poised to take the marketplace by storm.
I like how he has pushed the fact that Sirius XM Radio is now the 2nd largest radio company in terms of revenue (next to Clear Channel) and the 2nd largest company in terms of subscribers (next to Comcast). Those are impressive soundbites to keep pushing hammering away at.
[Watch the video]
not sure how you can compare comcast and sriusxm. sirius and xm have competition and can't raise rates for 3 years. comcast raises rates every time ralph roberts changes his depends and in many places has no competition. #1 ISP in the country well when it comes down to high speed or dial up what do you think people are going to choose. bottom line siriusxm have to fight for every subscriber and comcast sits back and watches their stock goes up. but wall street doesn't care about truth which is obvious with the state of gas prices.
Even though Mel is spinning this, $1.64 is ludicrously undervalued for this stock especially with liquidity and bankruptcy potential off the table at this point. Cramer is right in the sense that near term this company is really in the bond holders hands, but as a long term prospect with Mel at the helm and considering SIRI has hit EVERY target that he has projected since at the helm (with the exception of +FCF which he never really set a definitive target for), I can't see how its a lottery ticket.
This stock wont move till '09, but if you are in for the long haul (5 years) do you really care? In 5 years with strategic goals, debt reduction, etc., does anyone really believe they can say its not going to be a $20B market cap business? And if thats the case and there is still 2B shares outstanding, isn't that a $10 price tag?
This is still speculative, but alot of the speculation in my mind is really gone, now its just watching Mel hit the targets.
GOOD NOW LETS PUT TOGETHER AND HOSTILE TAKEOVER....AND DUMP HIS ASS.....I LOST MINE....GIVE HIM HIS FUCKIN PARACHUTE AND SHOVE HIM OUT THE FUCKIN PLANE.....PEOPLE ARE NOT GOING TO FORGET WHAT HE DID!!!!!!!!!!!!!!!
if you noticed, he paused at the mention of reverse split.
Make no mistake CURRENT SHAREHOLDERS WILL BE SACRIFICED AT THE EXPENSE OF SIRIUS.
Think about it. Mel already threw us under the bus to close this deal by offering up millions of shares to the big boys to short. Causing the share price to plummet to $1.50
Now with massive dilution, the next step is the dreaded REVERSE SPLIT.
ALL YOUR HARD EARNED SHARES WILL BE CUT INTO TINY PIECES.
THE NEXT STEP IS BANKRUPCY....WHERE THOSE FEW SHARES WILL THEN BE WIPED OUT COMPLETELY and Mel will rename the company and start anew.
MAKE NO MISTAKE. Sirius WILL Survive. CONSUMERS STILL BENEFIT. BUT CURRENT SHAREHOLDERS WILL BE SACRiFICED in ORDER TO ENSURE SIRIUS'S SURVIVAL.
MEL IS RUTHLESS AND WILL DO ANYTHING SURVIVE. YES....THIS IS GREAT NEWS FOR CONSUMERS. BUT US SHAREHOLDERS WILL BE THROWN UNDER THE BUS.
CANT YOU SEE WHATS HAPPENING???
EVERYONE IS BLINDED BY THE FACT THAT THE COMPANY WILL BE A POWERHOUSE AND NOT REALIZING THAT IT WILL BE AT THE EXPENSE OF THE SHAREHOLDERS.
WE....THE PEOPLE WHO BUILT THIS COMPANY. WHO FUNDED THIS COMPANY THRU ALL THE TOUGH TIMES WILL BE KILLED EXECUTION STYLE WITH EXTREME PREJUDICE.
PLEASE PLEASE PLEASE.....AFTER ALL THE FALSE PROMISES TO KEEP YOU IN THIS STOCK ONLY TO HAVE THE STOCK HALF AND HALF AGAIN OVER AND OVER.....THIS IS IT. THE NEXT PHASE IS TO PHASE THE REMAINING ShAREHOLDERS OUT COMPLETELY.
PLEASE BELIEVE ME!!!! I AM TRYING TO SAVE YOU FROM LOSING WHAT LITTLE YOU HAVE LEFT!!!
ANYONE KNOW WHAT HAPPENED TO THE HD FARCE BLOG? IT IS NO LONGER ACCESSIBLE.
What did he do Pat? Not make you the quick buck like Cramer said he would? I know, I lost my ass on this as well. But...
Because of what Mel did, the company is now in a very strong position to compete against FM radio. The start to the NFL season is right around the corner, and consumers are not afraid to purchase subscriptions or new devices. (Thanks to the merger) Subscriptions are going to rise and Mel has said he wants to have the best talent in radio. I feel for you. On paper, my Sirius shares looks like crap, but I would suggest to hold or buy the shit out of this stock. You don't lose anything, unless you sell. I believe that SiriusXM is now a great growth stock now, not a speculation, and we will all be rewarded. We are looking at the lowest point in Sirius XM History and investors need to look at this as an IPO (with a load of subscribers) and huge potential. I also believe that we will see the uSiriusXM app coming out soon, and when that baby hits the iPhone! Whammo! Subscriptions! I really hope they are working on this and will release it ASAP. I am dying to listen to NFL games on my iPhone.
Long SiriusXM.
It's always been a fact that the greedy shareholders begging for a merger and profitability were the problem to begin with, now they're going to get theirs. I've said for years that XM and Sirius needed to be a privately held corporation, not at the behest of the shareholders, only the market.
Good luck shareholders, you're gonna need it.
The fact that Mel didn't announce an iphone app today IS CRIMINAL.
The iphone has been out for a year. Steve Jobs provided the code to software developers almost a year ago. The code is so simple developers wrote programs in less than a week for it.
AND MEL and his team has not released a program yet? All we have is an illegal hack called "uSirius". If some pimple faced teenager can write a program that works on the iphone...WHY THE FUCK DIDN'T MEL HAVE THIS READY???
His interviews today were FUCKING FLUFF. NO FUCKING EXCITEMENT.
I find this UNFORGIVABLE! Imagine if today he said what he said, but added....oh yeah...we're rolling out a program for the iphone this week. It'll be available on the itunes app store.
BAM!
And they pay Mel 32 million a year??? He's had nearly 2 years to get ready for this....and nothing.
At least with the FCC we had a enemy we could hate. Mel what the FUCK ARE YOU DOING????
WE....THE PEOPLE WHO BUILT THIS COMPANY. WHO FUNDED THIS COMPANY THRU ALL THE TOUGH TIMES WILL BE KILLED EXECUTION STYLE WITH EXTREME PREJUDICE.
ROTFLMAO!!! You gotta be kidding me?? Right??
Dude! The people who built this company were wiped out in the first our of court reorg about 5 years ago. You were simply a "beggar" trying to make a profit from their losses. Those shareholders were wiped out several years ago.
So you just got what they got. Doesn't feel too good? Does it? Especially after you sold your "personal integrity" down the toilet with all of those postings on those XM/SIRI sponsored FCC Comment submission sites.
How many people did you post comments for via an alias? Were you one of Mel's BITCHES? Did Mel Reward his BiTCHES?? He sure did.. Which BTW, is exactly what I told you was going to happen.
(Karma)zian is now paying you a visit. When Karma knocks on your front door. You better welcome it in with open arms. Cause if it has to set up camp in your backyard. It really get's angry.
And so it goes,
PCSTEL
They just merged Monday. The man is working on it. He just got to look at XM's books yesterday for the FIRST time. You fucking greedy shorts and day trader's are killing this stock. I think they should have dumped SIRI like XMSR for SIXM or something new for the new company. Maybe to show a re-branding of satellite radio.
Yes they just merged. And that is why EVERY day counts. For 18 months Mel couldn't say anyting and the shorts could run rampant.
Now that Mel can speak...he needs to do so. If he just mentioned that they'd be releasing a program for the iphone shortly....THAT would have been enough to create buzz!
The market is about emotion...and if Mel doesn't create EXCITEMENT NOW....it will set the tone for the rest of the year.
So yes. EVERY DAY counts.
the priority at this point is to make money. They cant do that with debt. Therefore he should do everything in his power to raise capital. So what he drives the price down to save teh company. Only people getting screwed are the investors in it for the quick buck. If you are loyal and know the true potential of this company you should be happy he is taking the necessary steps with haste. Hold for the long run and you will be making 30 times what you put in. IF YOU DONT WANT TO LOSE MONEY...DONT SELL.
David Faber is such a smarmy prick. He's been down on the merger since day one! Now he's kissing Mel's ass like his biggest fan. Fuck him!
long haul? dont lecture me about long haul. i have been long over 3 years.
in that time the company has gone only down. i could have been in apple and gone from $30 to $200....or fslr from $28 to $300 or lowly spec play vlnc for 50 cents to $5!!!!!!!!!!
heck....in just the last few days LVLT went from $2.50 to $3.50 for crying out loud!!!
where is our pop? we have never had such a pop. back in november it popped....for like 5 fucking seconds!!!!! before dropping right back down.
i am just saying this is ridiculous. what makes u think holding will pay off? huh? future promises? this has been the FUCKING FUTURE PROMISE STOCK OF THE CENTURY!!! and EVERY TIME....IT HAS NOT GONE UP.
If you're holding siri, you need to sell, sell, sell. I just sold my shares last Monday before it took the great fall. I was lucky to get out @ 2.07. However, I did lose a shit load of money when I bought it @ 3.05. I held on, and that was my mistake. Goldman Sachs really did this stock in with a downgrade. This is really a suck ass stock if there ever was one. Don't listen to these analysts any longer. They're full of shit and have been way off the mark on this stock every single time. This stock is headed to the OTC pink slips. It's destined to be a worthless penny stock. I hoping this stock will drop further, so NASDAQ can delist it permanently.
What i would like to hear answers to from Mel are the following
1--Whats the aggressive marketing plan for Xmas(almost too late for 2008) and 2009 holidays? Getting non-active receivers to be paying subs again, new displays in Best Buy, Walmart etc(they suck now and havent changed in years) awareness for the brand as nothing done for 1 1/2 years--Whats new for marketing---
2-New tech breaking products your working on---excite me!
3-any news on co-branding with bigs like Apple etc?
4-positive surprises--you must have been working on stuff other then the merger all this time
5-new revenue arenas with the combined company
6--advertising rates to go up(?) due to huge new combined audience once the receiver software is downloaded in Sept
7-PR campaign?
to liam :
The SDK from apple hasnt been out for a year.
And the DOJ prevented them from looking at each others books untill this merger was done.
Had they announced an app for the iphone they'd be under investigation.
just use orb to stream sirius xm to your iphone. its simple and easy and works perfectly even on edge, AND doesnt require the iphone. any phone/web browser works.
thats not the point. The SDK has been out long enough for Sirius to get working on it.
It's a FUCKING iphone for christ sakes. They could write a program over the weekend.
But REGARDLESS. All Mel has to say is WE ARE WORKING ON AN IPHONE APP.
Hello?! Is that so hard? What would that have taken for Mel to say today? A couple of breaths?
Because I think we all assume they DO plan to have one. If NOT...then YOU BETTER SELL...because that would be INSANE.
Again...my point is simple. The SDK has been out for awhile. Sirius SHOULD have had its own legal app already. There is no excuse for that.
But knowing they were merging and the fact that it'd be suicide NOT to have an iphone app to reach MORE customers outside the car(especially since the stiletto isn't exactly an iphone killer)....MEL SHOULD HAVE SAID SOMETHING TO THAT EFFECT TODAY.
He is not on gag order now. He can say and do anything he wants. This is HIS time to speak...and I am sorry...I stand by my belief that he SHOULD have taken his first interview to rattle off some things they are planning to do NAMELY AN APP FOR THE FUCKING IPHONE.
"use orb to stream sirius xm to your iphone" ?
Now that's a great idea!? Maybe SiriusXm can advertise a third party app. Pleeeease!?
SiriusXm NEEDS to announce ASAP! (Can you imagen how many new subs will show up?!) I can't imagen Mel not wanting to compete with CBS/AOL! He has to announce the WebApp anyday now. HE HAS TO!!! That would cause a rise in value, no doubt!
And THAT is what he needs to do to make the shareholders happy! Spike us, please.
Buy it from the kid and let's GET IT ON!!! The iPhone can bring SiriusXm (NFL, etc..) to everyone who has an iPhone - everywhere in the world? (right?) What am I missing?? Geeeze!
Football season is starting and the announcement would go hand and hand with the NFL.
Rock On. Just Do It! Please, for us!
Mel SCREWED US LONGS. He led longs to believe certain things about Sirius and the merger. Those things didn't include the jail rape he executed upon merger approval. He has a duty to disclose information so investors can make informed decisions about the stock. He kept plans about settling XMs debt private, later claiming he was under some sort of "radio silence." That was absolute bullshet. He could have, and should have, disclosed that information. Instead, he allocated revenue to pay ridiculous bonuses rather than retaining it to settle XM's debt. He knew all along that he was going to use approval news to sell a boat load of stock, taking the anticipated pop away from longs who patiently suffered through the approval process.
I blame Mel for specifically failing to disclose his intent to dilute shares upon approval of the merger to settle XM debt. Spin it if you want, Mel jail raped longs though a series of misleading conference call statements.
I’m with you Murph. There’s only upside from here. Yeah, there are hurdles and competition, but the hard part is over. Now it’s time to rebuild. This is ground zero. And we’re still alive. The SIRIXM beast was tied up, and beaten to the brink of death by terrestrial radio and political interests, but they failed to kill it. Now, it’s picking itself up off the ground and nursing its wounds. Battlefield triage indicates all vital organs are alive and healthy.
All those cars that aren’t selling right now? They will be sold. Make no mistake about it. The prices will drop until inventory is unloaded. The subscriber growth and churn numbers Mel threw out were from OEM installations and didn’t include used car sales. They also didn’t include retail sales (which should erupt over the holiday season, but may suck for the following quarter). I’d expect surprise after surprise after surprise throughout this quarter and beyond. JMHO.
Mel is a sob and liar i know this for sure. From what i am reading on ALL THE BOARDS i hope he has a body guard.
Hey JERKOFF,
Does bashing satellite radio give you a hard on? Do everybody a favor and just go away. You are an OBNOXIOUS FUCK. Nobody gives a shit what you think! If you don't like satellite radio, don't subscribe to it and don't listen to it. Why the fuck are your panties in such a wad if you don't own, subscribe, or listen to this pay service. Nobody is forcing this service on you, yet you are so passionately oppossed to it!? You are annoying. You are disturbing. You are a pain in the ass.
its against the user agreement to stream radio over ATT data services, this would cover the ipod too except for pre approved ipod/att music services
i am not sure that this app would have really done anything for Siri. plus why would they want you buying a ipod instead of their own portable player? duh