Sirius Satellite Radio Canada » Michael Hartleib

Sirius XM Attempts to Work Off Debt

Reid — Sat, 24 Jan 2009 00:38:31 +0000

Sirius XM Radio CEO, Mel Karmazin has been exchanging SIRI common stock in an effort to work down the company’s mounting debt. The move is part of a larger corporate strategy aimed at ensuring the financial viability of the satellite radio business throughout the economic crisis.

Karmazin has been able to trade 100 million shares of SIRI stock for a substantial $13 million of cash toward reducing the corporate debt.

Even with this example of forward progress, Michael Hartleib and the Save Sirius shareholders coalition have been agitating Sirius XM Radio for documents related to the business merger and the recent transaction.

[Via Orbitcast]

District Judge Throws Out Sirius Lawsuit

Reid — Wed, 17 Dec 2008 21:24:34 +0000

We previously wrote on the topic of a collection of Sirius XM Radio Inc. shareholders threatening legal action against the company. The Save Sirius group, led by founder, Michael Hartleib were disappointed to have their complaints thrown out however in a recent decision by a US district judge.

The dismissal of Hartleib and Save Sirius’ suit was based on the new arrival of many Sirius XM Radio board members which has led to a twenty-day amendment period for the protest group.

Save Sirius seems unscathed by the decision with Hartleib promising that the time period will be used to ready a new lawsuit with even further allegations being brought forth.

[Via Orbitcast]

“SaveSirius” Shareholders Issue List of Demands

Reid — Thu, 20 Nov 2008 17:23:23 +0000

A group of Sirius XM Radio shareholders have launched a laundry-list of complaints and demands regarding the corporation and it’s alleged practice of unethical money handling. The “SaveSirius” group, founded by Michael Hartleib,

The list of demands includes actions which would mean a serious overhauling of share organization and stock worth. While many consider the actual implementation of the actions a hard sell, SaveSirius is determined to force it through.

Failure to follow through with the SaveSirius list may mean an intense legal scandal with the board of shareholders forcing accountability and inquisition into Sirius XM Radio practices.

The letter in question can be read through the OrbitCast link below.

[Via OrbitCast]