Sirius shares up 3% on Stern ruling

Discussion in 'The Howard Stern Show' started by Ving, Apr 17, 2012.

  1. Ving

    Ving Well-Known Member

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    Market Pulse Archives
    April 17, 2012, 10:59 a.m. EDT
    Sirius shares up 3% on Stern ruling
    By David B. Wilkerson

    CHICAGO (MarketWatch) -- Shares of Sirius XM Radio Inc. SIRI +3.23% were up more than 3% Tuesday after a judge tossed out "shock jock" Howard Stern's lawsuit against the satellite radio provider. In October 2004, Sirius and Stern agreed to a performance bonus that would be triggered if the company met certain subscriber goals. In his suit, Stern had alleged that the company should include XM Satellite Radio subscribers in its consideration of these goals; Sirius acquired XM in 2008. However, in a ruling dated Monday, New York State Judge Barbara Kapnick stated that Stern's agreement does not include language about the implications of a merger, and therefore he is not owed additional compensation.





     
  2. RiotGrip

    RiotGrip New Member

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    That is funny, it would be really great if it went up 20% or more. Probably not going to happen though. The stock is what probably pisses off Howard the most. No matter what he is getting paid, there likely is ZERO incentive bonus. The only way he can get Stock in siriusxm is to actually pay for it :jj:
     
  3. Peau de Soie

    Peau de Soie Edit Button? Thanks LaserTilt!

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    Wow, that's practically a blip. I would have expected a lot more of an effect. (And this is why I don't do stocks.)
     
  4. Madipuppy

    Madipuppy Well-Known Member

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    Howard must still own a ton of stock so he wins anyway
     
  5. Guts83

    Guts83 Active Member

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    I thought Howard sold his stock already?


    Maybe investors are nervous about what would happen if stern walked out...
     
  6. koclem

    koclem .|..O..|. VIP Banned User

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    Sirius is stil a shitty company with atrocious customer relations and policies.

    I say fuck both of them :shoveit:
     
  7. Dlist

    Dlist Well-Known Member VIP

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    Not necessarily. He may have been issued Sirius stock at say $10. If the stock doesn't go above $10 he won't make money. Also, you typically are required to hold the stock for a certain amount of time, sometimes up to 4 years.

    This is the same thing that happened to William Shatner and Priceline. Shatner ended up with little to nothing.
     
    Last edited: Apr 17, 2012
  8. jonpow

    jonpow Tennessee Jed VIP

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    3% of $2.00 is $0.06
     
  9. Dlist

    Dlist Well-Known Member VIP

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    I'm rich biatch!

    Oh wait, I just made enough $ for a Carmel Machiatto and a scone. Never mind..