Well...
Great report there for sure....thought it did sound a LITTLE fluffy. The points that held the greatest interest to me were:
1. I was ecstatic by Mr. Karmazin’s announcement that the company will generate enough cash flow over the next several years to pay off approximately 1.5 billion in debt coming due.
2. I was a bit disappointed by Mr. Karmazin’s indifference to the idea of global expansion. I understand that the company is focused on US growth and improving financials, but the significance of the global market for satellite radio warrants more attention, even at this point.
3. It appears the Company is already planning price increases for next year. I got the sense that Mr. Karmazin feels the company has great pricing power. I agree.
6. Forget about a reverse split. Company will avoid at all cost. Mr. Karmazin expects to reduce debt and buy back shares with cash making the reverse split unnecessary.
The rest just sounds like fluff, really. The above 4 statements are really the hard points of the meeting, and they sound promising, though I do agree. I'd love to see at least some minor global expansion while the company is still a monopoly. If there is a need for this technology in Europe, and Sirius doesn't take advantage of thier current position while they have it, it is only a matter of time before someone else creates thier own European monopoly. Then there may be some competition for the US if that company expands before Sirius does.
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