Monday, November 03, 2008

Save Sirius Radio

A group of shareholders have come up with a plan that they hope will save Sirius radio (SIRI). I personally believe that Sirus will come back. I also believe that the best way to do that is to buy stock in the company. Its a steal right now and when it does come back money will be made. However, this is is the plan that I referenced, and it can be found here:Save Sirius

There are millions of retail longs in SIRI. If we organize, we can save SIRI single handedly. Here is how. The debt to be refinanced on Feb, 2009 is $300M Let’s refinance ourselves. Open a trust escrow account, with single purpose of lending money to SIRI with very low interest. Many of longs are down at least thousands of dollars. So assume everyone of us puts just $100 in the trust, and we lend the money to SIRI with 2-3% rate. If every long puts $100, we need just 3 million guys. Next, we refinance the other two installments of debt that are due in 2009 in same manner. So overall, $300 for 2009 per person to refinance all three installments due in 2009. SIRI solves its debt issue until 2010 and gets breathing room to concentrate on business. Sounds unrealistic you say? Probably yes, but why should only likes of Icahn be an activist shareholders. WE CAN TOO.

1 comment:

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