SHOCK STOCK PROBE (Feds Payback Howard Stern for Kerry Support))

[msanthrope]

http://www.nypost.com/news/nationalnews/40825.htm

February 19, 2005 -- The Securities and Exchange Commission has launched an insider-trading probe of shock jock Howard Stern's deal to join Sirius Satellite Radio.

In the two weeks running up to the blockbuster announcement last October, Sirius stock soared nearly 40 percent.

SNIP..

Yesterday, New York gossip journalist Chaunce Hayden, a frequent guest on the Stern show, received a subpoena from the SEC.

He was told he needs to appear before the SEC on Wednesday to answer questions about what he heard in Stern's studio around the time of the Oct. 6 announcement that Stern was leaving free radio for Sirius.

FOLKS, this is how they got Martha. Stern ragged on Bush, still rags on Bush, and now this....

[tridim]

1. Is it illegal to announce that you're moving from radio to satellite?

I don't get it.

[msanthrope]

3. In the Bush World it is......

If Stern moves to satellite, he is beyond the FCC's reach. Once he goes, FM radio becomes tame and the FCC becomes irrelevant.

Stern spent the election ragging on Bush--he was brutal, profane, and funny.

What the SEC appears to be investigating is the jump in the stock prices prior to the announcement--like, who knew what, and who bought what.

This is targeting Howard Stern.

[Eric J in MN]

5. No, but if someone learned that Howard Stern was going to join

Sirius before it was public knowledge, and that person bought Sirius stock, that may violate insider trading laws.

[Democrats_win]

2. SEC = Save Enron Crooks. This agency is a joke.

[msanthrope]

4. Yeah, but where is Martha Stewart?

Although could you imagine a New York Stern trial?

[Eric J in MN]

7. They may be going after someone who bought Sirius stock,

not Howard Stern.

[msanthrope]

9. There are no coincidences......not with this administration....n/t

[Rainscents]

6. I should Sterns stock!!!

Bush hates Stern and FCC is inbedded with Bush and now, they want to go after Stern.

[Cooley Hurd]

8. Yep... it's definitely payback...

:grr:

Dumb move on their part. Howard still has his radio show and will most likely rip them several new a-holes on the air, every day.

[msanthrope]

11. I hope he does not allow the gay hooker/press pass thing to

go unnoticed. I mean really, it just writes itself....

[obreaslan]

10. That's ridiculous!!!!

Stern had been talking about going to Satellite Radio for nearly a year before he made the announcement. Being that there are only two Satellite Radio companies, Sirius and XM, you had a pretty good chance to guess which company he would go with.

And, if you actually researched these things you would see that XM is primarily owned by Clear Channel, and with Stern's problems with them in the past it wouldn't be likely that he would go with them, so that leaves Sirius. Anyone with half an interest in the Stern show could have figured it out.

This is a big bull-shit case, and it just goes to show you the lengths that this corrupt administration will go to take down it's enemies.

[msanthrope]

12. So--XM is Clear Channel...Stern goes to Sirius, and gets

an SEC probe.

No coincidences, huh?

[obreaslan]

13. Nah-no coincidences here.....

Move along, move along....

Go about your daily lives, nothing to see. We'll be along for you shortly.....

[msanthrope]

14. Form orderly lines to the right, thank you very much........n/t

[CoffeeCat]

21. The beatings will continue until morality improves! (n/t)

[PROGRESSIVE1]

16. True

[still_one]

15. why didn't they go after the hedge fund trader on cnbc who trashed Sirius

when he held a short position, covered it two days after his apperance on CNBC, and after the stock fell

This is so obviously the nazis going after him

[DeaconBlues]

17. This is also a chance for them to go after one of the biggest threats to

the mind-numbing corporatist shitfest that radio has become. We don't want the people to have a real alternative too Clear Channel, do we?

[msanthrope]

18. No, and we want to have Clear Channel have a monopoly

on satellite radio...after all, they are good little Bush minions.

[aquart]

19. Anyone in jail for Enron yet?

[sarcasmo]

20. For bashing the King, Howard will pay the price. The new Amerika.

This story so infuriates me. As a Stern fan who thought he would help Kerry get that extra three points or so he needed this story makes me sick. This story will move much more quickly than Gannon gate and will put either Stern, or Stern regular Chuancey in the slammer for slamming King Chimpy.

[bunny planet]

22. If they go after Stern, they will live to regret it.

[msanthrope]

24. Can you imagine trying Howard in New York? n/t

[NashVegas]

23. People Buying Satellite Radio Stock Are ALL ABOUT Speculation

It's not a money maker. Not yet.

Other Sirius headlines around the time, courtest of Yahoo:

Sept 29:

Shares of Sirius Satellite Radio (SIRI:Nasdaq - commentary - research) were among the best-performing technology stocks Wednesday, rising 14% after the company announced that Sanyo's Sirius satellite radio system will be sold at Wal-Mart (WMT:NYSE - commentary - research) stores beginning this month.

Oct 1:

About this article:
Sirius and XM look ridiculously overvalued. Until you consider that they will stay in business long enough to wreck the traditional business models. They look likely to be the next Yahoo! and eBay: winners that ultimately will look cheap.

Oct 6:

Sirius (SIRI:Nasdaq - commentary - research) surged 14% early Wednesday after the No. 2 satellite radio broadcaster signed a pricey five-year deal with shock jock Howard Stern.

Going by this chart, it looks like Sirius stock was selling for about $3.00 per share on Sept 27 or so.

http://finance.yahoo.com/q/bc?s=SIRI&t=6m

Between Wal-Mart and Stern, the stock rose to $4.00.