SIRIUS Annual Meeting, Live Wearable Update and more

Tuesday, May 23, 2006

Our Inside Sirius Alliance, Satellite Standard Group has some reports from today's Annual Meeting. This event was not online or on a SIRIUS station, making some investors upset, but here is what came out of the meeting.

New SIRIUS Wearable Unit:
Mel Karmazin also held up the unit in his hands.
The unit is described as slightly wider than the S50, a black face, white/light trim, and a knob on the face controls. (more)

Karmazin invested about $15Mil in SIRIUS:
Mel Karmazin did point out that he has himself invested about $15,000,000 into Sirius, and that he feels that Sirius is undervalued. It has been reported that Mel Karmazin went on to say that as an insider, he is restricted as to when he can buy stock, but that he plans on buying more when he is allowed to do so. (more)

Mel talks about Jim Cramer:
Mel stated that Cramer changed his tune on Sirius shortly after signing a syndication deal with CBS, who currently has Sirius named on a law suit against Howard Stern.

Mel also mentioned the publisher of Cramers new book Simon a Schuster, who happens to be owned by Viacom (parent company to CBS Radio).

Is Mel indicating that Cramer is now jaded? (more)

Thanks to SSG for the updates!


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