I am a Howard Stern fan. I began listening to Howard Stern before some of you reading this were born. I first listened to Howard on WNBC in New York:
6-10 Imus in the morning
10-2 Soupy Sales
2-7 Howard Stern
Bought all the crappy stuff from his sponsors . . Butter-Buds Sprinkles, Snapple, all his VHS Video releases etc etc
Over the past 4+ years with Satrad he has done little to nothing in the way of making public appearances to promote the service . . . even prompting Jay Leno to say that you seldom even hear Howard quoted anymore.
I am in favor of Howard being re-signed . . but at reasonable cost and terms.
The day his signing is announced, I will sell a sizeable portion of my over-core postion and wait to buy-back after a 10-12% drop.
The game is all too familiar . . .
1.) Howard gets "unrestricted shares"
2.) Howard immediately dumps "unrestricted shares"
3.) Mel schedules annual meeting
4.) Mel shows up at annual meeting and says "we need more shares authorized for flexibility and general corporate purposes"
5.) Shareholders take it on the chin again
Not this time . . not me.
Howard Stern = Dilution.