Miracle Mel Does it Again: Liberty gives XM Sirius a Bridge Loan…

and as a shareholder may I say RIGHT ON MEL!!!! Stick it to Charlie Ergen good!!!

BWAAAHAAAAAAA Sirius lives another day and Echostar can kiss Mel’s butt!

OOPS HE DID IT AGAIN!!!! Thanks to John Malone too, we used to be Liberty Media shareholders too lol

John Malone’s Liberty Media is offering Sirius XM a bridge loan of several hundred million dollars to help the nearly insolvent satellite-radio company pay off debt that matures Tuesday, The Post has learned.

According to a source close to the situation, the loan is part of a two-step approach that Liberty wants to take as it looks to bail out Sirius XM, which is struggling to make its debt payment and fend off takeover maneuvers from EchoStar CEO Charlie Ergen.

As part of the plan, Liberty would provide Sirius XM CEO Mel Karmazin enough cash to repay $175 million in debt that Ergen currently holds and is due Tuesday.That then would give Liberty three months to come up with a plan to restructure Sirius XM’s roughly $600 million in debt that comes due in May and in December.

Listen to how arrogant Charlie Ergen was with Mel:

While the gap between what Mr. Ergen has proposed and Sirius has asked for is narrow, the two sides haven’t reached agreement yet on other, nonfinancial issues, these people said. Mr. Ergen is prepared to let Sirius Chief Executive Mel Karmazin keep his job.

Mel is known to pull a Miracle out of his pocket, way to go Mel!!!

Bloomberg: Mel pits Charlie and John in Cage Match:

Mel Karmazin, chief executive of Sirius XM Radio Inc., is pitting two media billionaires in a “cage match” to save the satellite-radio company he formed almost seven months ago.

John Malone and Charlie Ergen would both be absolutely satisfied to put down the other in a public way,” Bishop Cheen, a bond analyst at Wachovia Securities in Charlotte, North Carolina, said in an interview. “They’re natural cage-match contestants. This is media theater at its best.”

Malone and Ergen, both based in Englewood, Colorado, control the largest and second-largest satellite-TV broadcasters respectively and could use Sirius XM’s capacity to integrate radio and TV services, according to Fred Moran, an analyst at Stanford Group. Over the decades, the two men have competed for customers and over acquisitions. In 2003, Ergen, 55, abandoned a bid on DirecTV’s then-parent company, Hughes Electronics Corp.

-snip-

Karmazin, who was president of Viacom Inc. until June 2004, has feuded with Ergen too. Viacom was at the time the owner of the CBS broadcast-TV network, since spun off.

Ergen, who founded EchoStar in 1980, sued Viacom in January 2004, claiming it was breaking antitrust laws by demanding that EchoStar carry less-popular cable networks to continue running the signals of the CBS stations.

During the dispute, resolved later that year, Viacom kept its channels off the Dish network for two days and callers to EchoStar were greeted with a recording that divulged Karmazin’s home telephone number, Mediaweek reported on Oct. 11, 2004.

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February 13, 2009. Tags: , , , , , , , , . Disco, Doo Wop, Economy, Entertainment, Finance, Jazz, Motown, Music, Popular Culture, Reggae. Comments off.

Gibbs to Americans, ‘Get Real’: ‘WH cautions ‘REALISM” on Obama Housing Plan…..

Gibbs rolls back expectations while they are hyping Obama rally in Phoenix to announce the ‘plan’.

Now Gibbs says hold on its not a total plan..this sounds sickeningly familiar…deja vu…Geithner Take Two….and Carter Malaise Too..

The White House cautioned Americans on Friday against having unreasonable expectations about President Barack Obama’s plan to stem home foreclosures, which he is due to unveil on Wednesday.

Define unreasonable expectations there Gibby, we expect the/rant on /SOOPER GENIUS NEW AGE OBAMA TEAM TO HAVE A COMPREHENSIVE PLAN, A HOLC LIKE STRUCTURE, MO MODS, A PLAN WITH THE FED TO HAVE FANNIE FREDDIE BUY UP 4.00% PAPER….SUGGEST HARD LIKE A LEADER WOULD TO THE BANKS THAT WANT MORE BILLIONS THAT THEY WRITE OFF SOME PRINCIPLE IN AREAS WITH HOUSING DEFLATION IN EXCESS OF OH HOW ABOUT 20%?? GET A GRIP, YOU ASKED FOR THE JOB, NOW STOP CAMPAIGNING AND IMPLEMENT THE IDEAS WE HAVE ALL BEEN TALKING ABOUT FOREVER–ARRGLE!! /rant off

If they whiff again which is what it sounds like, the markets are going to tank worldwide and rightfully so, it means they really are not ready for primetime if they whiff it again…

White House spokesman Robert Gibbs told a news conference that the plan was “not intended to be measured by one day’s market score-keeping, but instead to ensure that the 10,000 Americans who each day have their homes foreclosed on, and the millions more trying to get by, are protected.”

“I would wait until Wednesday to see what the president offers and be careful that we don’t set an unreasonable series of expectations based on leaks from God only knows where,” Gibbs said.

No need to ask God Gibby, the LA Times covered it with named sources, we have it on our post too scroll down..

Heaven help us.

February 13, 2009. Tags: , , , , , , , , , , , , , , . Economy, FDIC, Foreclosures, Housing, Obama Administration, Politics, TARP, Unemployment Statistics, Wall St. 2 comments.

REPOST: Tonight!! SciFi/Fantasy: Terminator: The Sarah Connor Chronicles (TSCC) Returns tonight at 8/7 C…

thank you DVR.  TSCC and BSG, awesome

TSCC via FOX

tscc

February 13, 2009. Tags: , . Entertainment, Fantasy, Popular Culture, Sci Fi. Comments off.

New Release: Bone Crossed (Mercy Thompson, Book 4) by Patricia Briggs

Book Four in the Mercy Thompson series is out!

bonecrossed

From Amazon:

Review
“In the increasingly crowded field of kick-ass supernatural heroines, Mercy stands out as one of the best.”
Locus

“The best new urban fantasy series I’ve read in years.”
New York Times bestselling author Kelley Armstrong

“I love these books.”
New York Times bestselling author Charlaine Harris

“Top-notch paranormal mystery.”
Publishers Weekly

Product Description
New in the #1 New York Times bestselling urban fantasy series.

In a world where “witches, vampires, werewolves, and shape-shifters live beside ordinary people” (Booklist), it takes a very unusual woman to call it home. By day, Mercy Thompson is a car mechanic in Eastern Washington. By night, she explores her preternatural side. As a shape-shifter with some unusual talents, Mercy’s found herself maintaining a tenuous harmony between the human and the not-so- human on more than one occasion. This time she may get more than she bargained for.

February 13, 2009. Tags: , , , , . Art, Entertainment, Fantasy, Horror, Popular Culture, Sci Fi. Comments off.

Gamer News: God of War III for PS3…

AP’s weekly Video Game Video offers a preview of the final installment in Sony’s blockbuster mythological action franchise, “God of War III.”

February 13, 2009. Tags: , , . Art, Entertainment, Fantasy, Popular Culture, Sci Fi. Comments off.

House Passes $787 billion Stimulus Bill 246-183, 0 GOP votes..Party Like It’s 1929!!

The Dem Critters are ecstatic in the well of the House, not sure why, this is not the bill we needed and everyone knows it..

but tonight  they’re gonna party like its 1929!!!

Video courtesy of tbg2222

February 13, 2009. Tags: , , , . Economy, Finance, Obama Administration, Politics. 1 comment.

Breaking: Obama to give address on Housing Wednesday in Phoenix….

Well! We at MiM are in Phoenix and it is certainly the place to address housing! HA!

If we can see him and get a questiion we will ask about the middle class housing squeeze for those underwater and letting all Americans refi….

Per Robert Gibbs at presser LIVE now on FOX….

February 13, 2009. Tags: , , , , . Economy, FDIC, Finance, Foreclosures, Housing, Labor Department, Obama Administration, Politics, TARP, Unemployment Statistics, Wall St. Comments off.

Update 2: HUD’s Donovan on Housing Plan….JP Morgan Chase implements 3 week foreclosure moratorium….

Update 2: Secretary of HUD Shaun Donovan said today he thinks he has 100 days to get the housing plan rolled out, I have news for him he has three weeks per the banks holding the foreclosure notices:

…Obama administration’s housing recovery plan will accelerate loan modifications for distressed homeowners and will reform the bankruptcy system for foreclosures, Housing Secretary Shaun Donovan said today.

The U.S. Department of Housing and Urban Development wants to create a “comprehensive foreclosure response” before the first 100 days of the new administration is concluded, Donovan said in a speech in New York today.

The new plan will make use of interest-rate reductions, loan extensions and so-called principal forbearance, in which part of a mortgage’s principal is deferred to the end of the loan’s term.

Update: Working families need to be addressed in the Obama Plan, help the middle class too:

“I tried to refi but they won’t give me a new mortgage because I bought at the peak of the market and my house has depreciated,” says Connecticut homeowner James McCusker. “I don’t have the 20 percent equity in the house I need. When they turned me down, they said to me to qualify for any government-related loan program, I need to lose my job.”

“For now, homeowners are stuck,” says McBride. “I think one thing that would be nice to see, is a government program designed to facilitate refinancing for people that have been current on their loans for at least two years.”

CNBC Diana Olick has it: JPMC signs on in a letter to Barney Frank, saying it will hold off on any new foreclosures for three weeks to give Geithner time to announce and implement their mortgage modification/foreclosure mitigation plan…

TICK TOCK TEAM OBAMA….

Home, home again
I like to be here when I can
When I come home cold and tired
It’s good to warm my bones beside the fire

CNBC Breaking Chyron: JP Morgan Chase Announces 3-Week Foreclosure Moratorium; Citigroup Also Announcing Moratorium

Floyd Video Courtesy of Spellitic: This is Time (The Dark Side of the Moon, 1973), from Pink Floyd, live at P.U.L.S.E; recorded at Earls Court, London, in 1994. Roger Waters, one of the the composers of Time, is not in this show.
Current members of Pink Floyd are: David Gilmour (guitars, lead vocals) • Richard Wright(keyboards, secondary vocals, backing vocals) • Nick Mason(drums, percussion);


February 13, 2009. Tags: , , , , , , , , , , , , , , , , , , , , . Cabinet, Economy, Entertainment, Finance, Foreclosures, Housing, Music, Obama Administration, Politics, Popular Culture, TARP, Unemployment Statistics, Wall St. Comments off.

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