CEO Mel Karmazin, addressing investors at Merrill Lynch’s 2008 Media Fall Preview conference in Marina del Ray, Calif., yesterday, said that the company does not have enough cash to pay off its debt but is confident that it will receive bank financing.
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December 29th, 2008 at 2:39 pm
It is not a surprise Mel Karmazin, always screws the stock holders one way or another. Just, look at what he did to us with the stocks he lend to shorts 260M. at US$1.60 per share.
December 29th, 2008 at 2:51 pm
That was unbelievable. Not to mention Cramer trashed the stock the night Sirius was pricing it.
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