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Thread: Mel,works for shareholders! cancles christmas tree

  1. #1
    tim wallick is offline
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    Joined: Jul 2008 Posts: 204

    Mel,works for shareholders! cancles christmas Party

    Oh my god, just whats needed! to help boost the morale of the staff that remains on board. but would this not still be a mixed message?

    maybe more double talk from the master? sure take and extra day off it don't cost us anything its the shareholders that will be forced to suck it up!

    as reported by Tom Taylor

    Mel says – no Christmas party at Sirius XM, but you can take off December 26.

    The CEO’s email to staffers says that given the “very difficult environment” for all companies, “satellite radio sales not growing as we would like”, the current layoffs (“eliminating many duplicate positions”) and the stock price – “I have decided that hosting the annual holiday parties this year would send a contradictory message.” He knows it’s disappointing – “if ever there was a time that I would like to celebrate and thank everyone for a great job, it would be this year.” But there is a Christmas, after all (just not a party) – “In addition to having Christmas Eve and Christmas Day as holidays, we will also have the day after Christmas this year, so that you can spend more time with your friends and family.” His final sentence – “I am very confident that not only will our company be successful, but also [that] we will be very successful.”
    Last edited by tim wallick; 11-17-2008 at 05:41 AM. Reason: typo

  2. #2
    APEXSPORTS is offline
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    Joined: Oct 2008 Location: cambridge,ohio Posts: 214

  3. #3
    dnay1969 is offline
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    Joined: Aug 2008 Posts: 57

    What a joke this whole XMSIRIUS group is.

    How about Mel follow GS and no bonus to all ceo's this year. Its un****ing believable that they have the balls to take thier millions in bonuses but cancel an XMAS party. Give me a ****ing break MEL

  4. #4
    Newman is offline
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    Joined: Jun 2007 Location: Dallas Texas Posts: 1,162
    I am just as unhappy as anyone about the failure of the price of this stock, but CEOs should be compensated based on how the COMPANY is doing, not the stock price.

    If you look at how the COMPANY has done since Mel signed on, I think Mel has deserved every penny he has made. Mel has done a wanderful job of getting the merger done, cutting costs, and growing subscribers and revenues at a remarkable pace with the state of the current economy.
    With the exception of a few questionable deals (not having financing ready when the merger was approved and some questionable comments during a conference), Mel has treaded some very thin ice very successfully.

    That said, I think it would do his investors and the rest of Wall Street a world of service if he and the rest of the board gave up their bonuses in order to help pay down the 2009 debt. It would show true leadership, and might even help get the stock price back up to where they could take some financing from Loral. Mel also has a large number of shares, so it would help him out as well.

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