Sirius Shareholders Petition Mel Karmazin

Today, I heard that more than 180 Sirius XM shareholders have signed a petition demanding that company CEO Mel Karmazin explain how he plans to raise money to fund more than $1 billion in debt coming due next year.

Today, more than 180 Sirius XM shareholders have signed a petition demanding that company CEO Mel Karmazin explain to them exactly how he plans to raise money to fund more than $1 billion in debt coming due next year. “If the plan is to muddle through without a plan. We need to know,” the petition says. The stock fell another 20% today, to 25 cents a share.