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Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR)
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To: Sirius_Rich who wrote (2749)8/11/2006 6:05:53 PM
From: i-node  Read Replies (1) of 3386
 
Or just the offending party that tried to cover it up. At least Sirius came clean on the offense and named a few employees. Both made errors.

Errors are different from intentional disregard of the regulations.

There were certainly ambiguities in the testing process and I don't doubt that both companies took advantage of them. But intentional disregard is another matter. I'm not saying XM didn't do it, too -- but at this point, only Sirius has been implicated, and contrary to Mancini's absurd rambling, XM has been far more "transparent" than Sirius has on the issue.

Remember, Sirius officers have publicly lied no fewer than three different times on this subject -- first, denying they had a problem at all during the Q1 CC; a couple weeks later, admitting there "was a problem, but already fixed it" at an investor conference, and finally, pulling hardware from the market for noncompliance.

XM received the communication from FCC and the next week disclosed it in an 8K filing as well as in their quarterly CC. Now, they filed another 8K explaining where they stand.

Sirius has yet to state publicly what its situation is, OTHER than to claim they have approval on a few of their receivers.

Transparency, my ass.
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