Cars and Other Driving Machines

[Penske_Account]

Should I renew my subscription?

[John Phoenix]

Originally Posted by Penske_Account

Should I renew my subscription?

Of course! And give up Howard?

I don't know whether I'd go for a long term subscription, though.

[Icky Thump]

Originally Posted by Penske_Account

Should I renew my subscription?

Month to month baby.

If you spring for the lifetime subscription you may be screwed if the company folds, gets taken over or tries to fuck Howard.

[Penske_Account]

Originally Posted by Icky Thump

Month to month baby.

If you spring for the lifetime subscription you may be screwed if the company folds, gets taken over or tries to fuck Howard.

Got it. My current runs out this month and I'll go month to month. I already have a risky GM warranty,. don't want to add another K in 11 to it.......

[Cletus Miller]

Originally Posted by Icky Thump

tries to fuck Howard.

I wonder how that contract will play with the creditors committee.

[Atticus Grinch]

Originally Posted by Cletus Miller

I wonder how that contract will play with the creditors committee.

My understanding of bankruptcy is nil. Does the creditor's committee represent the interests of persons with non-monetary expectancies, like lifetime subscibers? How are those intetests represented, if at all -- one vote, a vote proportional to the value of the unrealized portion of the purchase contract, or a "let's all just make our equity arguments to the judge" kind of way?

[Cletus Miller]

Originally Posted by Atticus Grinch

My understanding of bankruptcy is nil. Does the creditor's committee represent the interests of persons with non-monetary expectancies, like lifetime subscibers? How are those intetests represented, if at all -- one vote, a vote proportional to the value of the unrealized portion of the purchase contract, or a "let's all just make our equity arguments to the judge" kind of way?

Lifetime subscribers represented? HAHAHAHA. There's $3B+ in debt and they don't "owe" the lifetime subscribers anything. Non-unionized employees generally don't get committee representation, unless there's an unusual circumstance.

A lifetime subsriber likely wouldn't even ahve a valid contingent claim unless/until they terminated the subscription (which is unlikely for a nubmer of reasons). You could show up at a hearing, but I don't know what issue would be ripe; again, unless they took the unlikely step of terminating the subscription (which they probably don't have the power to do anyway, as I don't think it's an executory contract--hasn't the subscriber fully performed?).

[Atticus Grinch]

Originally Posted by Cletus Miller

Lifetime subscribers represented? HAHAHAHA. There's $3B+ in debt and they don't "owe" the lifetime subscribers anything. Non-unionized employees generally don't get committee representation, unless there's an unusual circumstance.

A lifetime subsriber likely wouldn't even ahve a valid contingent claim unless/until they terminated the subscription (which is unlikely for a nubmer of reasons). You could show up at a hearing, but I don't know what issue would be ripe; again, unless they took the unlikely step of terminating the subscription (which they probably don't have the power to do anyway, as I don't think it's an executory contract--hasn't the subscriber fully performed?).

That's kind of why I was asking. The bankruptcy laws were probably not written with the situation of pre-paid services promised to millions of subscribers in mind, and it seems to me that if the bankruptcy court has the power to relieve the debtor of obligations to make a more orderly distribution of the assets to creditors, the 18.5 million subscribers should have some forum.

I don't have satellite radio, but as a person with a lifetime Tivo subscription, I hope the issue never becomes a matter of more than academic interest.

[Cletus Miller]

Originally Posted by Atticus Grinch

That's kind of why I was asking. The bankruptcy laws were probably not written with the situation of pre-paid services promised to millions of subscribers in mind, and it seems to me that if the bankruptcy court has the power to relieve the debtor of obligations to make a more orderly distribution of the assets to creditors, the 18.5 million subscribers should have some forum.

I don't have satellite radio, but as a person with a lifetime Tivo subscription, I hope the issue never becomes a matter of more than academic interest.

It's really akin to any company with any product warranty. If they actually go away, too bad. If they continue in business, they aren't going to terminate anything, so you don't have a claim. If they're sold to Cerberus, maybe you're screwed, but probably you'll only find out after you're mysteriously cut off.

[Penske_Account]

Originally Posted by Cletus Miller

It's really akin to any company with any product warranty. If they actually go away, too bad. If they continue in business, they aren't going to terminate anything, so you don't have a claim. If they're sold to Cerberus, maybe you're screwed, but probably you'll only find out after you're mysteriously cut off.

I have satelllite radio in a Saab (GM) car......I am sensing a DP coming up, npi......

[Icky Thump]

Originally Posted by Cletus Miller

I wonder how that contract will play with the creditors committee.

No Howard = No Sirius.

[Hank Chinaski]

Originally Posted by Atticus Grinch

That's kind of why I was asking. The bankruptcy laws were probably not written with the situation of pre-paid services promised to millions of subscribers in mind, and it seems to me that if the bankruptcy court has the power to relieve the debtor of obligations to make a more orderly distribution of the assets to creditors, the 18.5 million subscribers should have some forum.

I don't have satellite radio, but as a person with a lifetime Tivo subscription, I hope the issue never becomes a matter of more than academic interest.

let me ask it this way, say you want to dump some debt, but survive with a viable radio company, will you shaft your current subscribers so you can offer your services to potential future subscribers? For purposes of this hypo please assume that sebby's "all americans are fucking idiots" rant is not accurate.

[Hank Chinaski]

Originally Posted by Penske_Account

Should I renew my subscription?

how much is lifetime? like a $1000? how could a corner office guy even bother to think about it? are you corner office in the basement?

[Atticus Grinch]

Originally Posted by Hank Chinaski

let me ask it this way, say you want to dump some debt, but survive with a viable radio company, will you shaft your current subscribers so you can offer your services to potential future subscribers? For purposes of this hypo please assume that sebby's "all americans are fucking idiots" rant is not accurate.

I don't really have a head for business. {Giggle.}

[Cletus Miller]

Originally Posted by Hank Chinaski

how much is lifetime? like a $1000? how could a corner office guy even bother to think about it? are you corner office in the basement?

$500, no? But doesn't it travel with the receiver? So, if you aren't keeping the car for over 4 years, it's a loser, right?