Some say that the Department of Justice is "rushing" to a decision. Others say that they are not acting quickly enough. Throughout the process, there is little a consumer or investor can look at to get any kind of measure on where the DOJ is in the process.
Should the DOJ have a comment system similar to the FCC? Should there be some transparency in the process?
In my opinion the DOJ has had plenty of time to review the merger from many perspectives, and should be perfectly capable of delivering a decision at this point.
Don't we all wish everything was more transparent?
The only question is, do they know something significant that we don't? If not then I think we can all agree that this is taking far too long. That being said, they do have more than just SATRAD on their plate.
Someone asked me over the holiday what the hold up was... and I realize this sounds a bit Oliver Stone :) but to me it feels like a decision was made but that those who 'lost' the vote got a say on the timing.
This has never been about what's good for the consumer and whether or not radio and sat radio 'compete'. This has been about sat radio being too much competition. As a consumer I don't want to use Sprint for local calls and Verizon for long distance. I don't want to use Time Warner for Showtime and Comcast for HBO. And I don't want to use Sirius for some channels and XM for others.
Apple, Google, AT&T and a host of others will be in Sat Radio before 2010 if not sooner.... the no votes on the DOJ it seems are protecting traditional radio. The easiest way to do that is prolong the vote and remove it as far from Christmas as you can. Billions are spent prior to Christmas and with the merger in flux it's not a great time to buy sat radio... delaying the announcement buys traditional radio more time and keeps a ton of people from buying sat radio as Christmas gifts... a large number of people only buy electronics at Christmas. Gives traditional radio another year...
As I said a bit Oliver Stone... but why not.... the no votes on the DOJ are basically saying to traditional radio... we didn't win the vote but we got it pushed back to after Christmas... basically giving traditional radio a head start before sat radio chases them down....
Still think it gets off the books this year and we hear it's approved some time in the next 48 hours....
I am thinking that the delay in the DOJ decision is nothing more than the DOJ and the FCC working together. The DOJ traditionally announces their decision first, with the FCC following shortly. If the FCC is not yet ready to render their decision, perhaps they are just asking the DOJ to hold off on the announcment for a bit. Why it matters? I have no idea. Just a thought.
As I posted before, federal employees don't lift a finger around the holidays. They are at their timeshares for most of the month. They could care less about us shareholders, even though the market could use a little boost. The 23% approval rating for Congress, in my book, also includes their counterparts at the DOJ and FCC, these current lawmakers are a laughing stock in my eyes.
The FCC has always hated satellite radio, that has always been clear, cause it actually gives people what they want, unlike the crap we call terrestrial radio, which is purely pathetic.
Yes they have had almost a year to review, I don't believe they are reviewing anymore. With so much support behind this merger, im not sure they want to stop it, they want to keep there jobs. I think its a matter of "stalling" it as long as they can. Not really sure what stalling does for them, maybe it makes them feel warm and cozy at night, im not sure.
But nevertheless, as a shareholder of Sirius, its really been hard lately to hang onto this stock, it just continues to fall and fall, and I am getting really frustrated with all this merger stuff, not sure how much longer I want to hold on. I will try.