By Brandon Matthews
Satwaves.com was fortunate to have Richard Keane of “Stockshock The Movie” fame call in to give his upbeat analysis of Sirius XM Radio’s annual meeting of shareholders, which was held this morning in New York City. Richard constantly provides movie updates via his twitter page.
The meeting included a presentation that covered Sirius XM Radio from its conception to the present and beyond.
In the question and answer period, Richard was most impressed by Sirius XM CEO Mel Karmazin, who reiterated the fact that the company has absolutely no immediate plans to execute a reverse stock split, going as far as to tell the audience the number of shares he owned while explaining that it is only intended to be used as a “safety valve” in the future should it be required. Mel recalled the part of the presentation which outlined the fact that out of 3000 listed NASDAQ stocks, that Sirius XM was ranked 140th based on equity valuation.
Mel explained that he has no control over a perceived biased media which is protected under the constitution, and that the job of management is to run the company to the benefit of its shareholders.
According to Richard, all items scheduled to be voted on today were approved across the board in favor of the company’s stated objectives. The iPhone application remains on schedule for a release in early June.
Position: Long SIRI
Well then Mel; I guess it’s time to start leaking all the positive news that will prevent the R/S from happening, and stop the outward appearance of apathy that seems present with respect to your shareholders.
“Mel explained that he has no control over a perceived biased media which is protected under the constitution, and that the job of management is to run the company to the benefit of its shareholders.”
@Los Tiburones
Why do I not feel benefited?
Great post! Just wanted to let you know you have a new subscriber- me!