William Combes
Stock is down to .06....Wondering if there may be any issues with Threatnet going forward?
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After witnessing the continued decrease of involvement in the SpotterNetwork staff in serving SN members with troubleshooting issues recently, I have unilaterally decided to terminate the relationship between SpotterNetwork's support and Stormtrack. I have witnessed multiple users unable to receive support weeks after initiating help threads on the forum. I find this lack of response from SpotterNetwork officials disappointing and a failure to hold up their end of the agreement that was made years ago, before I took over management of this site. In my opinion, having Stormtrack users sit and wait for so long to receive help on SpotterNetwork issues on the Stormtrack forums reflects poorly not only on SpotterNetwork, but on Stormtrack and (by association) me as well. Since the issue has not been satisfactorily addressed, I no longer wish for the Stormtrack forum to be associated with SpotterNetwork.
I apologize to those who continue to have issues with the service and continue to see their issues left unaddressed. Please understand that the connection between ST and SN was put in place long before I had any say over it. But now that I am the "captain of this ship," it is within my right (nay, duty) to make adjustments as I see necessary. Ending this relationship is such an adjustment.
For those who continue to need help, I recommend navigating a web browswer to SpotterNetwork's About page, and seeking the individuals listed on that page for all further inquiries about SpotterNetwork.
From this moment forward, the SpotterNetwork sub-forum has been hidden/deleted and there will be no assurance that any SpotterNetwork issues brought up in any of Stormtrack's other sub-forums will be addressed. Do not rely on Stormtrack for help with SpotterNetwork issues.
Sincerely, Jeff D.
Robert Dewey
EF5
Wow... I haven't followed their stock in quite awhile, but jeez... $0.05 a share?
Market cap around $211M... and what was Howard Stern's contract terms again? 5 years and $500M? Oops.
Market cap around $211M... and what was Howard Stern's contract terms again? 5 years and $500M? Oops.
J Kinkaid
Also no more free streaming and 2nd radio rates are going up next month. Part of the merger agreement was no price increases so I am not happy about this.[/B]
I hope this is just the standard issue large corporation bankruptcy "threat" in order to scare some creditors into making deals on outstanding debts. Tough to say though as a company that size, with tons invested in their tech, employees and otherwise, has been running for years without any profitability in sight.
I enjoy the Sirius subscriptions in our vehicles but they are really close to pricing themselves out of what most people are willing to pay for such a service. Plus they advertise they are commercial-free and that is very much not the case. I find that irritating.
I enjoy the Sirius subscriptions in our vehicles but they are really close to pricing themselves out of what most people are willing to pay for such a service. Plus they advertise they are commercial-free and that is very much not the case. I find that irritating.
Patrick Martin
EF4
Interesting article about the Sirius XM situation in CNN Money today.
I was an XM subscriber, and think the music got better after the merger with Sirius. It sure beats hunting for FM stations. I was on a 3yr subscription, but when it renewed, I did the lifetime one since it was incrementally not much more than another 3yr deal, and can be transferred from radio to radio. I sure hope they do more of a reorg vs being gone. Time will certainly tell on if I get burned on the renewal or not.
I certainly share the concerns pertaining to the status of being able to support Threatnet. I'm curious if Baron Systems has any opinion on the matter.
I was an XM subscriber, and think the music got better after the merger with Sirius. It sure beats hunting for FM stations. I was on a 3yr subscription, but when it renewed, I did the lifetime one since it was incrementally not much more than another 3yr deal, and can be transferred from radio to radio. I sure hope they do more of a reorg vs being gone. Time will certainly tell on if I get burned on the renewal or not.
I certainly share the concerns pertaining to the status of being able to support Threatnet. I'm curious if Baron Systems has any opinion on the matter.
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Jeff Snyder
EF5
I've thoroughly enjoyed my Sirius subscription, and I can't imagine having to go back to terrestrial radio (with car dealership commercials every 5 minutes, it seems). Most of the music stations on Sirius are commercial free, though there are a handful of music channels that are not, and many of the non-music channels have commercials (e.g. CNN, CNBC, Bloomberg Radio, ESPN radio, etc.). I drive quite a bit, so the monthly fee is worthwhile to me. I can certainly see that if one doesn't spend much time in a vehicle that a subscription wouldn't be worthwhile.
I'm a bit bugged that some of my fav Sirius stations got changed around after the XM-Sirius merger, but that's how it goes. I've heard of a lot of XM people very upset that their fav stations disappeared and/or were mixed with the Sirius near-equivalent station. However, I understand that there is no way to perfectly combine both services, since customers of each service became comfortable with each service (and uncomfortable after such service changed after the merger). I'm happy that they at least went back to unedited songs on some of their stations.
I have to think that, given the amount of money in the infrastructure and the number of subscriptions Sirius has, there's little chance that Sirius will completely disappear. I think a Ch. 11 filing may help Sirius get out of some of the debt obligations and contracts they have (e.g. Howard Stern's, etc). I can't believe some of the money that they're giving their "celebrity" hosts, and I think a Ch. 11 filing will help them get out of those (or at least restructure them). Do people really sign up for Sirius just because of a celebrity host (Oprah, Martha Stewart, etc)? I know many folks followed Stern to Sirius, but there's a lot of money going to other celebrity hosts as well. As far as I'm concerned, the music variety and lack of commercials is good enough for me - they might as well cut ties with their more expensive hosts if it means that they can survive. I spend most of my time on Doctor Radio, CNBC, Bloomberg, Lithium, Faction, Alt Nation, Shade-45, The Highway, 90s on 9, and The Pulse (no Oprah, no Stern, etc).
I'm a bit bugged that some of my fav Sirius stations got changed around after the XM-Sirius merger, but that's how it goes. I've heard of a lot of XM people very upset that their fav stations disappeared and/or were mixed with the Sirius near-equivalent station. However, I understand that there is no way to perfectly combine both services, since customers of each service became comfortable with each service (and uncomfortable after such service changed after the merger). I'm happy that they at least went back to unedited songs on some of their stations.
I have to think that, given the amount of money in the infrastructure and the number of subscriptions Sirius has, there's little chance that Sirius will completely disappear. I think a Ch. 11 filing may help Sirius get out of some of the debt obligations and contracts they have (e.g. Howard Stern's, etc). I can't believe some of the money that they're giving their "celebrity" hosts, and I think a Ch. 11 filing will help them get out of those (or at least restructure them). Do people really sign up for Sirius just because of a celebrity host (Oprah, Martha Stewart, etc)? I know many folks followed Stern to Sirius, but there's a lot of money going to other celebrity hosts as well. As far as I'm concerned, the music variety and lack of commercials is good enough for me - they might as well cut ties with their more expensive hosts if it means that they can survive. I spend most of my time on Doctor Radio, CNBC, Bloomberg, Lithium, Faction, Alt Nation, Shade-45, The Highway, 90s on 9, and The Pulse (no Oprah, no Stern, etc).
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Ben Holcomb
EF5
If satellite radio went away, I would miss my boys Opie & Anthony and Ron & Fez and the music channels, and hockey... But I wouldn't listen to terrestrial radio. I'd get an ipod that I have been putting off getting and would listen to that.
Commercial radio is just not listenable. The jocks are hacks. The playlists suck. Commercials are the pits.
And, as far as it not being commercial free, the only commercial stations I've heard on XM anyway are the clearchannel ones, and they provided a lot of funding for a part of the spectrum.
Commercial radio is just not listenable. The jocks are hacks. The playlists suck. Commercials are the pits.
And, as far as it not being commercial free, the only commercial stations I've heard on XM anyway are the clearchannel ones, and they provided a lot of funding for a part of the spectrum.
Bobby Lang
From what I've read online, Sirius XM had $175 million of debt come due in a week (I assumed from the article that the debt is due this week/by the end of the month) and $1 billion set to mature by the end of the year. The company reportedly had $3.3 billion in debt & $5 million in assets. $400 million of this debt is controlled by EchoStar, but this expires in December. The chips definitely aren't in Sirus XM's corner with the economy in a [deepening] recession, relying on highly paid celebrities and new car sales, massive debt, and never to date earning a profit. I would be shocked if Sirus XM didn't file for bankruptcy. The question that remains to be answered is if Sirus XM can come up with a viable business model that doesn't rely on [massive] rolling debt.
Darren Addy
EF5
If I was smart I'd be rich, so take this with a grain of salt, but I just want to get this thought on record: Sirius/XM is not going away. They are poised to be more than radio, with multiple revenue streams. One recent article stated:
Another interesting piece of the puzzle is that Echostar is buying up Sirius/XM debt. They hope to benefit by dictating bankruptcy terms, thinking that Sirius/XM is heading there. They could end up owning Sirius/XM on the cheap. If that happens, stockholders are screwed. However, I have another theory:
Now that Echostar's plan has come to light, I think it will turn other company's attentions on Sirius/XM and a takeover becomes more likely (prior to Sirius/XM declaring bankruptcy). This means offering something to stockholders.
Sirius/XM is currently trading at less than 6 cents a share. For $100 you could own 1790 shares. For every 6 cents that it goes up, you make $100. If it returns to even HALF of its recent high, you are poised to make $2800 for your $100 investment.
That's pretty big upside on a $100 bet. If I'm wrong and they go bankrupt, you lost your $100, but some people spend more than that on scratch cards a month.
I just think that the CW is over-reacting on this one and Sirius/XM thinking that their success is only tied to Detroit. I think they are going to be around (and thriving) for a long time into the future. If you believe in investing for the long term, they could do a heck of a lot better than regaining just half of their historic high stock price.
zigging while others zag...
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Another interesting piece of the puzzle is that Echostar is buying up Sirius/XM debt. They hope to benefit by dictating bankruptcy terms, thinking that Sirius/XM is heading there. They could end up owning Sirius/XM on the cheap. If that happens, stockholders are screwed. However, I have another theory:
Now that Echostar's plan has come to light, I think it will turn other company's attentions on Sirius/XM and a takeover becomes more likely (prior to Sirius/XM declaring bankruptcy). This means offering something to stockholders.
Sirius/XM is currently trading at less than 6 cents a share. For $100 you could own 1790 shares. For every 6 cents that it goes up, you make $100. If it returns to even HALF of its recent high, you are poised to make $2800 for your $100 investment.
That's pretty big upside on a $100 bet. If I'm wrong and they go bankrupt, you lost your $100, but some people spend more than that on scratch cards a month.
I just think that the CW is over-reacting on this one and Sirius/XM thinking that their success is only tied to Detroit. I think they are going to be around (and thriving) for a long time into the future. If you believe in investing for the long term, they could do a heck of a lot better than regaining just half of their historic high stock price.
zigging while others zag...
Chris McBee
EF0
Up to almost 7¢ a share (+>20%) as of 10:10 EST Thursday. I guess any improvement is a good thing.
Darren Stephens
I believe that satellite radio will survive. It is going through some growing pains right now and Sirius will be forced to file for Chapter 11 Bankruptcy (which is reorganization) to fend off the hostile takeover from Echostar. I have had Sirius since 2004 and I have listened to "free radio" maybe 15 minutes since. If satellite radio went away today "free radio" would still have its problems and the face of "free radio" will change shortly as they are losing listeners left and right to other alternative sources for information (i-pods, internet).
If you have good programming people will listen. It was very interesting reading all the post above about all the different stations that were listened to. What I found interesting was that there was not any complaints about the "foul language" stations on satellite. People just simply chose not to listen to those stations. What a concept!!! Leave discretion in the hands of the people and not some hypocritical bureaucrat. Instead of telling me what is not good for me and my family to listen to why don't they turn their attention to catching @#*holes like Bernie Madoff and returning the $50 billion he scammed while the SEC did nothing.
Ben couldn't have been more right.
If you have good programming people will listen. It was very interesting reading all the post above about all the different stations that were listened to. What I found interesting was that there was not any complaints about the "foul language" stations on satellite. People just simply chose not to listen to those stations. What a concept!!! Leave discretion in the hands of the people and not some hypocritical bureaucrat. Instead of telling me what is not good for me and my family to listen to why don't they turn their attention to catching @#*holes like Bernie Madoff and returning the $50 billion he scammed while the SEC did nothing.
James Siler
EF3
I have a financial question cncering the shares being so low. With the way things are right now financially for about everyone. Would it really be a smart play to just buy $100 or $200 dollars wort of the shares and hope it takes off again. Cause i see don't see this technology going away anytime soon. It's like saying cell phone's will go away. No it will just evolve. So i guess for the more financial smart people who understand this more, would it be a smart risk?
Dennis Sherrod
EF5
That is a toss up in my opinion. Sometimes the stock wil pay of greatly when bought extrememly low. Sometimes all the common shares are declared to be worthless in the bankruptcy. I have won very well and lost on both of these scenarios before. If you got a few hundred to gamble and it will not hurt if you loss it, I say go for it.
James Siler
EF3
Thank you. I am tossing that coin, so to speak, in air right now. Maybe they would bounce back and go up again. But again thank you.
Darren Addy
EF5
It seems to me that the news that they may declare bankrupcy, as early as next week, is way of employing more pressure on existing creditors to offer more attractive refinance options. Most companies don't telegraph that information in advance unless it is meeting some purpose.
I personally expect the news next week to be that they have refinanced the rest of their debt and the stock will pull back from this death watch. Those that bought at bargain basement prices will be smiling all the way to the bank. It is probably good that I have no extra to invest because this is essentially a poker hand and I'm not sure I'm reading the other guys right.
I personally expect the news next week to be that they have refinanced the rest of their debt and the stock will pull back from this death watch. Those that bought at bargain basement prices will be smiling all the way to the bank. It is probably good that I have no extra to invest because this is essentially a poker hand and I'm not sure I'm reading the other guys right.
