Breaking news: Howard's company suing SiriusXM

hyson

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Oct 19, 2008
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1st Paragraph of the suit:

1. World-renowned radio personality Howard Stem ("Stem") put Sirius on
the map. In 2004, when Stem agreed to move his highly successful radio show to Sirius, Sirius
was a fledgling company that was running a distant second to XM Satellite Radio Inc. ("XM") in
a two-company race. Sirius faced an uncertain future in an uncertain industry. Stem instantly
became Sirius's biggest star, bringing millions of subscribers to Sirius and recognition to thesatellite radio industry.


Who wrote this? A 10th grader? Terrible. Is it not "Sirius' "?
 

Super Dave

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Sirius XM Stock Drops After Howard Stern Files Suit

Sirius XM Stock Drops After Howard Stern Files Suit - The Hollywood Reporter

NEW YORK -- Wunderlich Securities analyst Matthew Harrigan on Wednesday downgraded his rating on shares of Sirius XM Radio and his target price on them following Howard Stern's lawsuit against the satellite radio company.
In early trading, Sirius shares were down more than 3 percent before closing the day down 2.1 percent at $1.67.
Harrigan downgraded the stock from "buy" to "hold" and cut his price target from $2 to $1.65, arguing that "Sirius' current stock market valuation likely cannot accommodate the uncertainty engendered by the suit - even if it ends up being meritless."
On Tuesday, Stern's production company One Twelve and his agent Don Buchwald had filed a lawsuit against Sirius for non-payment of stock awards that they claim they are entitled to under Stern's original employment agreement with Sirius.
Meanwhile, Harrigan maintained his "buy" rating and $85 price target on Liberty Media's Liberty Capital arm, which is an investor in Sirius.
The analyst also said that the recent annual reports, known as 10-Ks, from Sirius and Liberty may suggest a limited legal risk from the Stern suit. "We found no disclosure relating to Howard Stern risk in the Liberty 10-K filed in February 2011, nor in the Sirius XM 10-K," he said. "We find it hard to believe the auditors or counsel could have omitted this risk, which may afford some comfort as to the substance of the complaint. "
 

thekingofnicotine

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Aug 14, 2009
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Is anyone here not buying the whole thing about Howard being screwed by Sirius? I think there is way more to it than what is said. Howard is a very calculating guy.

How can Sirius still keep him after this? Who sues their employer and then stays?
 

Super Dave

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Sirius has issued this statement: "Sirius XM just signed a contract through 2015 with Howard Stern, and he is a valued part of our company. We were thus surprised and disappointed by the subsequent legal action initiaed by his production company and agent. We have me all our obligations under the terms of our 2004 agreement with Howard, his agent and production company."
 

GoodDog

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Oct 13, 2008
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"We found no disclosure relating to Howard Stern risk in the Liberty 10-K filed in February 2011, nor in the Sirius XM 10-K," he said. "We find it hard to believe the auditors or counsel could have omitted this risk, which may afford some comfort as to the substance of the complaint. "
"
Nice find SD!
 

RDog

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Oct 18, 2008
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1st Paragraph of the suit:

1. World-renowned radio personality Howard Stem ("Stem") put Sirius on
the map. In 2004, when Stem agreed to move his highly successful radio show to Sirius, Sirius
was a fledgling company that was running a distant second to XM Satellite Radio Inc. ("XM") in
a two-company race. Sirius faced an uncertain future in an uncertain industry. Stem instantly
became Sirius's biggest star, bringing millions of subscribers to Sirius and recognition to thesatellite radio industry.


Who wrote this? A 10th grader? Terrible. Is it not "Sirius' "?
You are 100% right. As I started to read it, I thought it might be a fake document - the whole thing reads very poorly, to an extent. Not that it has to be all full of legalese, but it just doesn't come across as professional. You would think a lawyer or a clerk or an assistant or someone would have corrected this a little more.
 

blyons200

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Technically correct or not Howard is a piece of shit greedy fuck if all he's trying to do is squeeze a little more blood out of the stone. When is enough enough? Now he wants to bring down Sirius because he doesn't quite have a billion in his bank account yet? People who sue just because they can are fucking scum to me and part of the reason this country is going down the tubes.

Maybe next Howard will sprain his ankle in the Sirius building and sue for 10 million.
 

Die_LaMattres

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Oct 13, 2008
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Technically correct or not Howard is a piece of shit greedy fuck if all he's trying to do is squeeze a little more blood out of the stone. When is enough enough? Now he wants to bring down Sirius because he doesn't quite have a billion in his bank account yet? People who sue just because they can are fucking scum to me and part of the reason this country is going down the tubes.

Maybe next Howard will sprain his ankle in the Sirius building and sue for 10 million.
Note: That lie was already used to get out of attending Gary's dad's wake when Beth "injured" her hoof.
 

Chob

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Oct 11, 2008
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You are 100% right. As I started to read it, I thought it might be a fake document - the whole thing reads very poorly, to an extent. Not that it has to be all full of legalese, but it just doesn't come across as professional. You would think a lawyer or a clerk or an assistant or someone would have corrected this a little more.
This. And the amount of ass kissing in that document is incredible. It's a legal document, not a Howard Stern bio.
 

thekingofnicotine

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Aug 14, 2009
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If it's a fake they sure are good cause the lawsuit was announced and that thing came out 5 minutes later. Whoever faked is good if he was able to do that in 5 minutes. It's real. We're not fucking lawyers here.
 

voliconjoe

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Jan 11, 2011
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Technically correct or not Howard is a piece of shit greedy fuck if all he's trying to do is squeeze a little more blood out of the stone. When is enough enough? Now he wants to bring down Sirius because he doesn't quite have a billion in his bank account yet? People who sue just because they can are fucking scum to me and part of the reason this country is going down the tubes.

Maybe next Howard will sprain his ankle in the Sirius building and sue for 10 million.
What are you talking about? Sue just because you can? The man signed a contract that SIRIUS drew up that included performance bonuses. He reached these and they didn't pay him. Are you really insisting that he's supposed to just throw his arms up and say YOU KNOW WHAT I HAVE ENOUGH MONEY AND I'LL JUST WORK FOR FREE because you think he has enough already?

NOW I see how scumbag republicans are born...they get tired of people counting their money.

Also what part of that is just "suing just because" are you talking about? Liability cases have nothing to do with a contract that isn't being fulfilled.

The amount of money he has is meaningless in this discussion. If it was $5/hr or $5M/hr is irrelevant.
 

hyson

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Oct 19, 2008
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If it's a fake they sure are good cause the lawsuit was announced and that thing came out 5 minutes later. Whoever faked is good if he was able to do that in 5 minutes. It's real. We're not fucking lawyers here.
I don't think anyone is saying it's fake; actually, to the contrary, it's obviously real.

My point was that it reads poorly and is very unprofessional for a lawsuit. It's almost as if a fanboy wrote it.
 

IronJabroni

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Oct 13, 2008
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I don't think anyone is saying it's fake; actually, to the contrary, it's obviously real.

My point was that it reads poorly and is very unprofessional for a lawsuit. It's almost as if a fanboy wrote it.
agreed.

if you told me bobo wrote it I would believe you
 

limegrass69

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Oct 12, 2008
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I don't find anything particularly offensive about the complaint (although it is funny to read given Stern's ego). This document is intended to set out the facts as Stern sees them.
 

hyson

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I don't find anything particularly offensive about the complaint (although it is funny to read given Stern's ego). This document is intended to set out the facts as Stern sees them.
Paragraphs 43 through 48, perhaps?

Paragraph 19 is particulary riveting, as well:

19. Because of Stern's celebrity, he had the potential to transform satellite
radio into a viable alternative to AM and FM radio. Stern's move to satellite radio was expected to increase public awareness of satellite radio at a time when the new medium was struggling for recognition.