Sirius Shareholders Petition Mel Karmazin

Posted by: Olga Kharif on October 23, 2008

Today, more than 180 Sirius XM shareholders have signed a petition demanding that company CEO Mel Karmazin explain to them exactly how he plans to raise money to fund more than $1 billion in debt coming due next year. “If the plan is to muddle through without a plan. We need to know,” the petition says. The stock fell another 20% today, to 25 cents a share.

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Reader Comments

Jack Diesel

October 24, 2008 10:10 AM

This is the location of the petition for anyone who wants to sign. The stockholders have a right to know where the company is headed.

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