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I think this entire PM businss is rather silly, but I must admit my curiosity is piqued. Can someone please share this information with me? Thanks in advance! :)
GM phriend! :)
GM gumzsa and Terin, hoping for some news here today!!!
I hope they keep him, would be huge for SIRI. I wish I had more time in the morning to listen, but I usually only get to hear about the first 30-45 min of his show before I have chit to do.
I am way down here, bought back in 07 at $3.26, down about 60%, would love to be able to get out of here with a smaller loss. I don't know if it will ever get back to the levels where I bought but I'm not in a rush to leave this stock either.
Howard went on a rant this morning slamming CFO David Frear. Frear made a public statement recently that if Howard wants to stay, he will have to take a pay cut. Article and link are below.
Howard's argument is that Frear makes 3.3 mil a year and is 100% replacable by any CFO in the business, where as Howard is a unique talent, and joined the company when they had 600,000 subscribers and today they have 20+ million. His best point though, was that Frear has no business announcing any of this, as he is not in the loop with Howard's contract negotiations, and he has no business publicly stating his opinions on the matter. Howard has also certainly brought on and retained more subscribers than most of the content on SiriusXM, such as Oprah, NFL radio, Martha Stewart, etc.
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From: http://www.hollywoodreporter.com/news/sirius-xm-cfo-howard-stern-56702
Sirius XM CFO: Howard Stern Might Have to Take a Pay Cut; Possible 10 Days Left on Air
4:09 PM 12/6/2010 by Paul Bond
shareComments (18)
433But David Frear remains 'hopeful' that Stern will stay with company.
Howard Stern could broadcast live on Sirius XM for the last time on Dec. 16.
After that, he heads for his annual end-of-year vacation and there still is no decision as to whether he’ll renew his contract, which expires on Dec. 31 and sets Sirius XM back a hefty $100 million every year.
Speaking at a UBS investor conference in New York on Monday, Sirius XM CFO David Frear said he is “hopeful” that Stern sticks with the company, but hinted that if he does it would be for less money.
Frear also acknowledged that there could be other offers Stern is considering, maybe even one from Apple to do a show on iTunes.
“He could decide that he doesn’t want to get up that early in the morning. That he’d like to do a shorter show. That he’d like to do it somewhere else,” Frear said. “The Internet, whether it’s through iTunes or something else, is always a possibility.”
Apple did not respond to requests for a comment.
And it's not only Stern who is expected to take a pay cut, because since Sirius and XM merged there aren’t two companies bidding against each other for content.
“At the time of the merger we were in many long-term contracts,” Frear said. “As they come up for renewal, we’ll have the opportunity to get more
favorable economic terms there.”
When Sirius and XM were competitors striking early content deals with Stern, the NFL, Major League Baseball, NASCAR, Oprah Winfrey, Martha Stewart and others, only 10 percent of the country knew what the satellite radio brands were. Today, 90 percent are familiar with them, said Frear.
“The marketing aspects of these alignments don’t have the same kind of value components to them today that they did several years ago,” Frear said.
Therefore, expect renewal costs “to come down a little bit,” he said. “We go after each new negotiation as if it’s the first time.”
Sirius XM recently inked a new five-year deal with the NFL, but this time around it wouldn’t divulge financial details. It’s first arrangement with
the NFL in 2004 set Sirius back about $220 million for six years worth of programming.
Other big commitments the two companies made prior to their merger include: $600 million to Major League Baseball, $108 million for NASCAR, $100 million
for the National Hockey League, $55 million for Winfrey and $30 million for Stewart.
“It’s all great stuff,” Frear said. “We’ll continue to work hard to get fair and reasonable costs for the company.”
So, we are expecting an 8k before Wednesday then, based on that information.
Excellent day here folks!! Set up for an even bigger one tomorrow!!!
I never claimed it is real. In fact, read my post:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=57434869
I said that speculation one way or the other is equally as bad. Try again, basher.
Can you show evidence that the phone voice mail is a hoax?
No? Ok, then you are bashing.
I agree, my position is not as strong as yours, and I could've sold at .15 for a small gain, knowing I could buy in at a lower PPS. However, knowing the 8k can come at literally any second, and that my position is strong enough to make a very nice profit once it does, I decided just to keep waiting. I didn't want to risk being on the sideline waiting for a lower PPS when it was released.
Whether you bought at .2, .1, or .05, once the 8k comes you will profit significantly.
You got nothing to worry about, very solid position on a very solid stock. Don't freak out if the 8k doesn't come immediately. About 90% of this float is in hands of people who are not selling until it is released, and we are patient people. As long as this float stays this tight, we are gold when the filings are released.
That means nothing, you are grasping at straws.
Agreed! HDOG is allowed to speculation about a voicemail just as much as any one of us. Anybody basing investment decisions on someone else's opinion has a lot to learn! It doesn't matter who the poster is or how many followers they have, think for yourself!!!
LOL! Volume today is 390k, float is 10m!! That is one PATHETIC dump!!
Lets bust through .03 and not look back!!!
Well said. Anyone claiming to have been told information on the deal by a secretary or a lawyer is clearly lying. The law firm has absolutly NO incentive in sharing this information with a random caller. In fact, they have quite a bit of incentive to keep this information to themselves!
Anyone believing the bashers on here today has a lot to learn.
There is NO pump and dump here. The PPS shot up on 10/28 due to SEC filings. The PPS has been walked down by MMs. Flippers have been in and out. There has been no dumping by anyone, that means no dilution as well. If this stock were "pumped" and then followed by a "dump," the PPS would be well into the triple zeros, where it came from.
Doubters, read the SEC filings. They clearly lay out the intentions of this shell company, and can be found here: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001431837&owner=exclude&count=40
You are welcome to your opinion; however, I do not think that his speculation about a voice mail box removes all of his credibility.
We still don't know what the deal is with the voice mail message. The speculation of it being a hoax is as poor as the speculation of it being real. There is no evidence to support one side over the other, it is one person's word against another.
Just jumped to .0949 on a buy order of 15k shares. Float is incredibly tight here, a small buy order makes a large shift up in PPS.
Anybody long on this stock has nothing to worry about, IMO.
If you got Heskett himself on the phone, what do you really expect to hear from him? A date and time for the release of the 8k? The contents of the 8k? I mean, come on, lets be serious here.
Bashers coming out of the woodoworks today. I'm holding tight to all of my shares though. If anything, they add to my confidence on this stock. They know it is holding well and its not reaching the PPS they want to buy in quick enough, trying to induce selling.
Sorry guys, not going to reach .02 anytime soon.
Attention, this guy wants you to make trading decisions based on a phone call he may or may not have made.
Make your own decisions, do your own DD, do not rely on any single post or poster.
Sure, have fun with that.
I have never had an ihub account before.
My DD lies in the SEC filings released on 10/28.
I am not making any phone calls. I am not telling stories about what I heard on the phone and trying to make people believe my stories. Finally, I never claimed to have any credibility or for anyone to make any decisions based on my opinions. You, on the other hand, do exactly that.
IMO this will not reach .02, 8k will be released before then. Even if it doesn't come out by Friday, the lowest this thing goes is .06
You have no credibility.
I'm hoping for at least .03 by EOD
IMO, 8k will be out well before subpenny. Anything below the previous high of .31 will be a smart purchase. News is going to blow this thing sky high.
I have no idea, any tax accountants on this board?
We really need news to hit here soon...
TRDY setting up for a big day!!
Anyone who has been here longer than a week knows this stock loves to dip at the open, only to close huge!!
LOCN again, didn't happen last week, bound to happen this week!!!
Will today be the day for the 8k???
Excellent information, thank you for educating me in that respect!
Does it really matter what the MMs do after hours? Never seemed to make a difference to me..
Maotautus claimed he spoke with Stan earlier and he 'hoped' to have filings done today?? I don't recall entirely, and I don't put a whole lot of faith in unfounded claims of posters, no matter who they are.
Last second trade at the end of the market to make the stock uptick or downtick, allowing it to close at a higher or lower price.
Looking for a big bounce in the last 5 min here!!
Cool! Cause mine is a measly $200 investment, but I got in at .0077