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Thread: Time for a new CEO????

  1. #1
    jimmy66 is offline
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    Time for a new CEO????

    While Mr. K may have done a great job of growing Sirius to the size that this merger was possible, recent decisions lead me to believe the leadership in this company needs to change!!! If we assume that there was nothing else sirius or xm could have done to put pressure on the fcc, either legally or politically, to expedite thier ruling I will not question that. Since the ruling was anounced as iminent every decision seems to be a bad one. The financing was horrendous. The impact on the stock should have been foreseen and deemed unacceptable. Delay would have been better than result. Lack of aggresive and immediate cost cutting, seemingly no post merger plan in place, no marketing strategy in place and worst of all no creative ways to quickly provide saturation have made me lose all confidence.

    After the conference call that only resulted in a "net negative" Of quotes to the effect of advertisers leaving in droves, wouldn't lend the company any of my money or comparing the ipod and iphone to a toaster, where should we find confidence in this ceo or board.

    We should be begging apple to imbed a native application into the iphone and touch immediately. There are over 9 million iphones and touches in North America that would have an immediate impact on the top and bootom line yet all we hear about is oem penetration? Share revenue, pay a fee do what you need to do to create buzz even if it is on someone elses shirttails.

    The only effective strategy I see is the path to bancruptcy or a bargain basement buy out. Not the plan I have as a investor, not trader, in this company.

  2. #2
    Newman is offline
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    Mel K is just about the only one that can turn this company around. If Mel K stepps down, I would definately take that as a sign that the company is going into bankruptcy. As much as many of the people around here hate the Karmazin Cheerleaders, I think that is a fact.

    Karmazin has stepped into a bad situation, and has done his best to make it better. Remember: The majority of the damage was done BEFORE Karmazin (OEM deals, Stern contract, stupid give aways, etc, etc, etc). While the company may not be sitting pretty right now, it is certainly in a better position than when Karmazin took over. If you cannot see that, then you should have never been in this stock in the first place.

  3. #3
    jimmy66 is offline
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    Didnt say step down, said replaced!!

  4. #4
    JasonL is offline
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    Thumbs down i say yes, yes, and yes again

    But Jimmy, he's a genius, well thats what I have been hearing from die hard Mel fans in here for about a year.
    I do not believe that he stepped into a bad position, I believe he took that position free willingly and should have done and do more to better the situation, he needs to earn that big check he is receiving.
    He can and should do more. His "inside the box" thinking is just what the company doesnt need, and his lack of enthusiam is just a stake in the heart of shareholders. We should vote to have him replaced, with a more innovative mind, someone more friendly to integration into mainstream.
    What kind of idiot would push away mainstream like he has.
    I've said it all along, Mel may have had huge previous successes that I applaud, but he's no SIRIUS superman.
    I am very disappointed.

  5. #5
    Jay Wilson is offline
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    Joined: Sep 2008 Posts: 34

    No

    1) Without the merger, I'd have no interest in owning this company.

    2) There is not another person I think of that could have pushed this through, regardless of how long it took. Most wouldn't have even tried to do it.

    3) The merger is is only 6 weeks old.

    4) If you sell your shares for no other reason than price going down you're one of the sheep.

    5) If you want to fire the CEO because the shares are down, you're a mad cow.

    Give the guy until January to see how Q3 and Q4 go before you start calling for his head.

  6. #6
    Newman is offline
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    Joined: Jun 2007 Location: Dallas Texas Posts: 1,162
    Thank you Jay.

    People were furious with the NAB because the merger was taking a while, and the price dropped.
    People were furious with C3SR because they were making the merger take longer, and the price dropped.
    People were furious with Georgetown Partners because they were making the merger take longer, and the price dropped.
    People were furious with Senators, Congressmen, and Attornies General because they were making the merger take longer, and the price dropped.
    People were furious with the DoJ because they were taking forever, and the price dropped.
    People were furious with the FCC because they were taking forever, and the price dropped.

    Now, the FCC is done, the merger is approved, and in 6 weeks, people have not become millionaires, so after all of this, it MUST have been Mel's fault!! HANG HIM! FIRE HIM!!

    People, I think you all need to step away from the computer for a month or so and CHILL THE HELL OUT.

  7. #7
    JasonL is offline
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    Joined: Dec 2007 Posts: 107
    No I dont want him fired cause stocks are down, I want him fired because he's lost and doesnt have a direction and keeps lying to shareholders.
    He hasn't been a good leader and doesnt know where he is going with the company. And looked like a complete jackass yesterday, thats why the stock plummeted, no news, no enthusiasm, no future plan layed out.
    He's running the company into the ground so it will be bought out.
    Thats why Mel lovers.

  8. #8
    JasonL is offline
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    what is 6 months gonna do? stocks won't improve in 6 months.
    SIRIUS is broken, and needs a good leader to fix it.

  9. #9
    jimmy66 is offline
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    Disclaimer- I believe in satrad, will ride the stock way up OR all the way down.

    Lets look at what we all agree on:
    Satrad is a great product!
    When people are exposed to it they like it!
    Fcc bordered on criminal with their handling of a ruling.
    Nab sucks!
    Someone in the long run will make ALOT of money with satrad!
    We would like it to be us!

    Now, we have 2 issues short term. Penetration and debt. Lets look at penetration first. According to data around half of the people who are exposed to satrad through introductory oem sub keep the service once they have to pay. With that thinking in mind it would seem the challenge is in getting people exposed. Creative thinking would say find ANY way to deliver the content. Use the wifi option to greatest effect, get on ANY devices with ability to distribute the content, and use existing partners to help.
    Why not use NFL and MLB games to distribute codes for a free month of the internet content? Will raise awareness the merger is complete and expose millions to the product in a few short weeks. Doing so now will also expose people to the benefits for 2 of the most popular sports in the country. The timing will also work well with new radios coming out early October as trials expire. The potential for new subs with even a small conversion rate is large as you are going directly to a group with income to support discretionary spending in a troubled economy.

    Make a deal with Apple, Sony, Lg, microsoft to get ability to recieve the product on those devices. In my opinion Apple and Sony would be the most beneficial. Their products generally attract buyers that are less budget conscious(sp?). To stream to the ps3 would provide a high quality entry into the home which would translate into more auto solutions for those people. With Apple you need look no further than Pandora to see the potential for a sirius xm application on the wifi enabled iphone and touch. Nobody had ever heard of pandora before the app store now EVERYONE I know has an account with them. To simply make an app available for a small fee would provide both Apple and siri with revenue incentive. Offer apple the type of rev. sharing model oem's get for new subs if they make sirius app native like the you tube or ipod app that has the ability to run in the background and not affect the phone operation.

    These 2 ideas would add millions of q3 and 4 revenue and beyond. they would also enable sirius to crush current sub estimates and raise est. for 2009 providing buzz and optimism both on main street and wall street.

    Showing growth will alleviate some fears in extending sirius credit. Will make the financials better, raise share price and build faith in the company. To go to a conference call and lower estimates and expectations so close to a major refinance is irresponsible, whether your typical mo or not. To give the media a horrible quote to headline for a segment of your business that is less than 10% of your revenue is irresponsible. To say you would not lend your company money on the record is irresponsible!

    This company SHOULD have had plans for after the merger in place long before the merger finallized, especially with all the crying about how long it took. The leadership is failing. I dont know about you but if I showed 7 weeks of results this bad at my job I would be out on my ass no matter what I did before!

    Patience will lead us down one ro two roads, neither good! We will go bancrupt or be sold for pennies per share. Niether or those options are good for any current shareholders and that is ALL sirius or us should be thinking about!!!

  10. #10
    Jay Wilson is offline
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    Joined: Sep 2008 Posts: 34

    The cc

    Mel seemed honest during the cc. He said some good things, and he was cautious about things. He didn't say the numbers were "very conservative" he said they were "very very conservative". There's a difference.

    He did not say he wouldn't lend money to his company. He said he hoped he wouldn't have to lend it to the company himself. It was an off the cuff statement, but I took it to mean that if it came down to it, he would be willing to do so.

    Did anyone else take it that way as well?

  11. Ad Fairy Senior Member
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