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Old 08-04-2005, 08:29 PM   #16
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Anyways, I doubt I'll be buying this stock as its debt makes Sirius look like Microsoft. Also, I have doubts about how big the market is in some of the countries it is available. Then again, I have not done much research.
I'm not sure where you got this, but it is totally inaccurate. They do NOT have anywhere near the debt that Sirius does.

They have a 1.8 billion CONTINGENT LIABILITY (which was, in effect, where the Saudis who are absurdly accused of being terrorists) gave over their share of the business. The contingent liability calls for a payment of 10% of EBITDA between now and 2015. Unless total EBITDA exceeds 18 billion in the next 10 years, this contingent liability will be reduced. In all likelihood, any profits between now and 2015 will be a tiny fraction of 18 billion, and the contingent liability will disappear with only a small, or zero, payment made against it.

A contingent liability is NOT debt. It can BECOME debt if certain events occur. In this case, the likelihood of those events occuring is almost nil, and if they do occur, I damned sure want to own shares in the company.
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Old 08-04-2005, 09:07 PM   #17
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Yes, I did use the wrong wording in my statement. What I meant to say they had a much wider loss than Sirius (somewhere around 500M). They have been around for 2 years and they only have 30K subscribers.
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Old 08-05-2005, 06:50 AM   #18
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WorldSpace Doesn't directly support terrorrism but the fact that the owners gave money too terrorrists makes me wonder if a little bit of my money is helping fund a training camp or bomb and I don't want that.
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Old 08-05-2005, 07:03 AM   #19
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Originally Posted by mmamitch
WorldSpace Doesn't directly support terrorrism but the fact that the owners gave money too terrorrists makes me wonder if a little bit of my money is helping fund a training camp or bomb and I don't want that.
I think you mean:

(...) the fact that people who own some shares in the company are accused of giving money to terrorists (...)
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Old 08-05-2005, 07:22 AM   #20
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Some, aren't these people in custody of the majority of shares for WorldSpace?
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Old 08-05-2005, 09:16 AM   #21
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This could be the stupidest thread ever on SBS.

If XM was in anyway involved or linked to anyone shady would the US Military being working with them?
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Old 08-05-2005, 09:27 AM   #22
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The US MILITARY started using Xm's system before Xm invested in WorldSpace
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Old 08-05-2005, 10:12 AM   #23
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Here is another Article from the Washingtonpost:

h**p://www.washingtonpost.com/wp-dyn/content/article/2005/08/04/AR2005080401969.html?referrer=email&referrer=email
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Old 08-05-2005, 10:29 AM   #24
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Quote:
Originally Posted by mmamitch
The US MILITARY started using Xm's system before Xm invested in WorldSpace
And they'd drop them like a hot potato if this investment was suspect.

Would XM do anything to risk losing this military deal? This military deal is extra cash for them and a big PR win.
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Old 08-05-2005, 12:18 PM   #25
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you make a good point so I feel the US Military should reconsder their deal with Xm if Xm continues it s investment in WorldSpace. I don't feel comfortable with the US Miliatary have some kind, even financial, ties to a company that has funded terrorism.
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Old 08-05-2005, 02:10 PM   #26
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This could be the stupidest thread ever on SBS.
Totally agree. Absolutely absurd.
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Old 08-05-2005, 03:04 PM   #27
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You guys are free to SHUT THE HELL UP!!!!
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Old 08-05-2005, 07:43 PM   #28
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Originally Posted by mmamitch
You guys are free to SHUT THE HELL UP!!!!
I think we got the point with the same message like 7 times!
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Old 08-06-2005, 04:33 PM   #29
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here's part of the article. kind of doubt this is good public relations for xm but i don't think it is a big deal other than a little negative publicity. in the scheme of things i don't know what the us final analysis of salah is.

The cash infusion also could improve potential returns for the company's longtime backers, a group of Saudis that includes Salah Idris, the owner of a plant in Sudan that the United States bombed in 1998 alleging it had ties to Osama bin Laden, and Khalid Bin Mahfouz, a banker who settled allegations in the BCCI bank scandal in the early 1990s and has since been accused in a lawsuit of backing bin Laden financially.

This prompted WorldSpace to make an unusual disclosure to the Securities and Exchange Commission: "Allegations of ties between certain of our investors and terrorism could negatively affect our reputation and stock price." The investors "have repeatedly denied all such allegations," the company said, adding that they no longer have any "voting control rights."

rest of article long read

http://www.siriusbackstage.com/forum...ic.php?t=25381
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