What Will Mel Say?
Sirius XM has announced CEO Mel Karmazin will speak at the Bank of America Merrill Lynch Media, Communications and Entertainment Conference in Beverly Hills next Wednesday. It'll be interesting to see if Mel takes any questions after he brags about Sirius SM's tremendous growth under his leadership. The obvious question on everyone's mind is whether or not Mel will extend his contract with the company after it expires this year.
Meanwhile, according to an SEC filing last night, Senior VP and controller Barry Thomas has sold over 500,000 shares of Sirius XM stock. Read the filing HERE
(9/5/2012 3:43:32 PM) |
Given that Sirius/XM makes nothing but cash compared to, say, Pandora and given that the stock price hovers around 2.50 compared to Pandora's nine dollars and change, it might be worthwhile for Mel to say what are his intentions.
If he bails and dumps his shares as well, the small or large investor is obliged to watch the price head south. All this, mind, when the business model itself is well and truly functional.
|- Ronald T. Robinson|
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