GM Bankruptcy Does Not Spell Doom For Sirius XM
In the wake of the GM bankruptcy, investors in satellite radio suddenly have become concerned about what impact will befall Sirius XM. Analysts such as Scott Moritz of TheStreet.com say that this “can’t be good”. In a video Moritz spoke briefly about the situation, but seems to have only highlighted one side of the story. I submit that the news is a mixed bag, and that both short and long term impacts need to be considered.
Moritz looked at the impact from a “subscriber numbers” standpoint, saying, “They are already going to lose 1.6 million subscribers this year, and that was before the GM bankruptcy announcement.”
The problem with looking at only part of the picture is that there is a whole dynamic that gets missed. Yes, GM is Sirius biggest supplier of subscribers, but they are also a huge expense to the company. Each subscriber requires an investment by Sirius XM radio. This investment, referred to as Subscriber Acquisition Cost, is an expense to the company in the short term, in hopes that that investment will pay for itself in the long term. In the best situation, with higher end cars, it takes about a year for the company to recoup their SAC cost. Lower end cars can approach the three year mark to reach break even.
So while a slowdown in sales will hurt the sub number, a slow down in production will mean less costs. For a company like Sirius XM, getting to a point of better cash flow is an important factor, and less costs help that happen. Moritz states that the company’s guidance did not consider a GM bankruptcy, but I think that he is wrong even there. The company quite clearly stated that they gave guidance based on 9 million car sales this year. The possibility of GM bankruptcy had to have been a consideration even months ago.
GM cars are not counted as subs until a car is sold. Dealer lots across the country are going to be closed. Those dealerships have been on news cast after news cast stating that the deals on GM brand cars will be attractive. This could actually serve to boost GM sales in the short term, and thus the impact to sub numbers (from a GM standpoint) may not be as bleak as it would have been. Longer term, a slowed production means fewer SDARS capable cars in the months ahead.
The measure of Sirius XM is no longer in subs though. Now, more than ever before, the bottom line is what everyone is looking at. Fewer installations will help the bottom line because those 1 to 3 year SAC investments will be fewer. This keeps cash in the coffers of Sirius XM, and that, in this economy, is a good thing.
Thus, the GM news is actually a mixed bag. It just depends on your perspective.
Position – Long Sirius XM, No Position GM
Not to mention new iPhone subs, when talking about future subs is criminal. The apple effect should be mentioned anytime future subs are addresed. The obvious question should be how many and what effect will it have against any auto (loss/gain) sub numbers.
This is what should be talked about, not just the one-sided GM sub numbers.
Typical Street.Com stuff. A menacing headline followed by a story with partial truths, facts, or figures. If GM sales decrease, but Ford and Toyota sales increase, does Sirius really lose that much? I guess that is for people smarter than me to answer. Sirius has enough financial obstacles to deal with, without having to dodge these media landmines. It may be time for the Sirius marketing department to quit playing a prevent defense and attack.
They have- a marketing department? You are kidding right?
I think the siriusxm spa took over that portion of their exclusive manhattan office months ago.
You are right. What was I thinking!
What I do not get from the “expert analysts” like Moritz is this: If I want to, can I buy a GM car tomorrow, next week, next month, next year, two years from now? the answer to all is YES. Will this hold true for everyone in America? yes. So nothing changes, anyone that wants a GM will still be able to buy a GM, further anyone that wants a GM with SXM in it will still be able to buy a GM with SXM in it. NOTHING CHANGES.
Consider that GM (ticker now GMGMQ in OTC/pink sheets and closed at about .55 today) is keeping four divisions: Cadillac, GMC, Chevrolet, and Buick. And, GM is shedding its other divisions. Relatively, which of the automaker’s divisons account for most subs and associated SAC? My bet it is not the divisions going by the wayside. Also, GM plans to try to enter and exit bankruptcy as fast as possible and is already working to do so. So, if plans work out for GM, then expect associated SACs when GM emerges and the economy rebounds. Increased SAC may not be desirable right now, but look forward. Not such a dire outlook from SDARS perspective over time. Long SIRI (but not likin’ the sub .34 close today).
The argument that SiriusXM will be seriously impacted is totally false. Is someone is going to buy a car, and their local GM dealer is shut down, do they go home, say oh well, and start riding their bike to work? NO, they go to another dealer.
People Shop for the car that best meets their needs, at the time they need it.
If one thinks for more than a nono second about this its easy to understand. approx 9 million cars will sell this year, weather or not GM files bankrupcy or not.
If I want to buy a quart of milk, I go to the store. If that store has closed, I go to another store and buy the milk there. Same with cars, if you want to buy a car, even if you wanted a GM car and it is not available, you will buy a car from another manufacturer. It is not as if GM is the only car manufacturer. So, these “reporters” or “analysts” being fully aware of this, are just trying to grab headlines and publicity for themselves and their bosses by making such gloom and doom statements.
Steve
Agreed 100% A car buyer is a car buyer! If GM was gone tomorrow…guess what…will still sell 10+M cars this year!!! With increasing penetration rate..Iphone app(when released)SiriusXM starting to resemble the powerhouse that Mel envisioned with the merger!
Yes Sirius XM gave guidance for 9 million car sales,so management was/is prepared for this.Good thing is when all is said and done annualized car sales may even exceeded 10 million so that’s a good thing.
As we know,it’s not all about car sales anymore-
Sirius’s the best of package has been a success and number continue to increase.It was reported close to 750,000 subscribers of the 12.99 service signed up for the best of package for an additional 4.00 monthly. Good News? Absolutely!
And last but not least,we are all anticipating the Apple Launch of the new Sirius app on the iPhone- stay tuned folks,
The best it yet to come…..
Add to all this the fact that this morning, GM CEO Fritz Henderson stated that May car sales at GM are up . . . back to levels last seen in December . . that’s a good start.
It has also been reported that dealers are screaming at Detroit that they need more Camaros as they can not keep them in the showroom.
The doom-n-gloom car story is yesterday’s news . . just goes to show how out of touch that site, who’s name I refuse to type here, is.
Jim C and his little clown show must be shilling for Goldman Sachs again . . I guess they need some more shares on the cheap . . hopefully intelligent people are wise to his self-serving ways.
Time for Jeff Immelt to wise up as well before GE faces a lawsuit that they do not need . . .
Funny how just last week Cramer was saying how on his show he doesn’t report only the doom and gloom. I guess he doesn’t apply that to SIRI. Obviously he is disgruntled about SIRI for some reason and when he talks he only mentions the negative. Anyone know of a reason why the deal that SIRI had with GM is better/worse than the other companies that buyers will now be going to?
If you go way, way back in SiriusBuzz posts you will find that some moron apparently made a threat against Cramer. I recall him standing up to the threat on one of his shows. There was a lot of venom spewed toward Cramer on this blog, so much so that at some point I chimed in with “go form a ‘hate Cramer’ blog” and let Buzzers get back to discussing SIRI and Sirius XM. The whole episode was shameful. Maybe Cramer is taking out on SIRI what he feels toward whoever made the alleged threat against him. Sure hope not. SIRI also gets trashed by Motley Fool quite a lot, but some on the Fool also pump the stock or at least make somewhat objective comments about it. My opionion, FWIW, is that Sirius XM has a real shot at greatness in spite of all the hurdles, many of which it has already jumped, dodged, or worked around. In fact, at a global level there is a lot of room for growth, perhaps in partnership with firms overseas. SIRI itself remains a whipped dog, but I’m holding my position believing that Liberty’s Malone and other powerful people will not let the company or its stock sink. We are rapidly approaching H2 CY09. My guess is that the clouds will hang overhead through the end of the year because of dependency on laggards in what many now see as an improving economy, with some sectors and industries indicating bottoms. Maybe 2010 really will be “the year we make contact” with an SP that makes longs smile a mile wide. To me, as an IT management type, the wildcard is technological advancement in competing but also supporting industries and companies, and associated marketing power. I have to wonder, for example, why Apple hasn’t seen the value of coming out more publicly about the forthcoming Sirius XM app. At any rate, my money is still on SIRI, and I have some dry powder for when I see such indicators as SP moving steadily toward and through the 50- and 200-day trendlines on the 52-week scale, and when the improving fundamentals at Sirius XM get the attention they deserve.
More wishful thinking from Tyler.
He’s actually dead on. I’ve been saying the same thing since the slowdown in auto sales a year ago.
It’s a near term benefit, but a long term negative. But IF Toyota and other Japanese auto OEM’s are truly stepping up – then the long term will be muted.
The biggest impact will be on the sub numbers — but at the same time, you’ll see a drop in Operating Expenses; with a drop in revenue (or lowered growth in revenue)… but the end result will be an Operating Loss that is decreasing more quickly.
Sub numbers will be important long term — but financial metrics are very much more important at this stage. That again, is something I’ve been stating for over a year.
———-
Isn’t the Ford deal much more cash frirndly to Sirius and wouldn’t Ford be one of the benefactors of the GM reorganization, along with Toyota and Chrysler (coming out of Chapter 11 very soon) ?
Also, in the short-term, won’t Chrysler and now GM clear out their inventory at much more reduced prices, especially the lines that are being eliminated.
I see an OK 2nd and 3rd quarter because of all this and a big 4th as GM emerges from BK and Chrysler being out for months.
No, he’s way off.
His analysis is wishful thinking at its best.
He always manages to find some convoluted way that Sirius-XM is actually in a better position than they actually are.
It’s the Dennis Rodman syndrome.
“Who you gonna believe? Me or your lying eyes?”
If dropping sub numbers was a good thing, even in the short term, Sirius-XM would be trumpeting it from the roof tops.
The truth is dropping sub numbers is bad, any way you slice it.
The Rube Goldberg leaps of logic one has to take to believe any part of what you suggest shows that some are still thinking with their hearts and not their heads.
BahBah
Sorry Tyler/Charles…Bah Bah you are a dumbass!!! The metrics prove Tylers article is correct. Short term…loss of GM subs good for SiriusXM bottom line…GM contract with SiriusXM was the worst of them all. Long term, cont loss of subs will ultimately kill co…nobody is disputing that fact. Where in Tylers article does he paint a rosy picture of where SiriusXM is at today! He clearly states that the GM Bk is a mixed bag for SiriusXM. SiriusXM has already accounted for the downturn in auto numbers! Last CC made it perfectly clear that new EBITDA guidance was on 9M auto sales. Sales guidance for autos as of today…10+M for the year!!!
Go away D…head! By year end…With auto guidance at 11+M…SiriusXM will show positive sub numbers and possible Cash Flow Positive!! I’m sure you will be back singing a different tune! what an A-hole!
Still Sirius,
Say what you will.
The stock dropped AGAIN yesterday.
http://finance.aol.com/quotes/.....c/siri/nas
At 34 cents and dropping, it seems Tyler’s track record of predicting where this stock will be as well as Sirius-XMs future isn’t very good.
Your passion for screaming at and insulting anyone who doesn’t agree with you clearly shows you can’t make a reasoned argument.
If dropping sub numbers was in any way good for the Sirius-XM bottom line, the market would treat it that way.
Dropping sub numbers is NOT good for the bottom line, even in the short term.
They are already a cash poor company.
When Sirius-XM management starts trumpeting the talking points that Tyler puts out, then I’ll take them a bit more seriously.
Keep screaming about how stupid everyone else is as you ride the stock down to 11 cents again.
Who said anything about dropping sub numbers being a good thing?
The fact is simple… lowered sub installs ALSO has the effect of lowered operating expenses and lower negative cash flow.
This, you cannot dispute – and is what I was agreeing with in the article.
Example: If GM cut its XM installations in half (from 2.8M to 1.4M)… I estimate that the drop will cut at least $60MM from the cash flow drain in the first year. While at the same time, increase the cost from operations by only $20MM in the same time frame.
At that’s just an extreme example.
As I stated, it is a near term positive on cash flow — and a long term negative on earnings… as the GM subs would eventually become profitable. But they are NOT, in their first year.
—
I the end this auto industry makeover will be better for all.
Bear in mind that many car buyers were folks that couldnt even afford the financing anyway,and this helped to destroy the banking system.It was so ez for practically anyone with bad credit to still get a car.
You have seen the commercials’ bad credit’ bankruptcy’?
no problem-come in and buy a car..ez financing.
Now the ones who can afford cars will buy cars and banks will finance to credit worthy folks.
In the end will all prosper.
I just look forward to the time when Jim Cramer and others like him are forced to eat crow and admit they were wrong about Sirius.
LISTEN,LISTEN,LISTEN TO WHAT THE MAN IS SAYING FOR CRYING OUT LOUD!!!!!!!!!!!!!!
I watched the video on MSN and sadly I have to agree.
IGNORE NEW CAR SUBS DAMNIT!!!
The quality of the broadcasting both in programming and sound quality is DECREASING!!!!!
EVERY DAMN DAY!!!!!!!!!!!!!!!!!!!!!!!!!!
You can rationalize all you want but the bottom line is that SiriusXM(SADLY)is NOWHERE NEAR WHAT EITHER SYSTEM was two years ago and looks like it ain’t going to improve anytime soon IF EVER!!!
Nobody wants to subscribe to a bunch of stuff that is basically FM radio!!!
Mel,Zellner,& Greenstein are to blame and the company is doomed to failure under their control.
Recondo
Are you a subscriber…if so…why? All you do is bash the company 24/7!! If you hate the service…cancel and go the F away…15.4M self-paying subs like the service!
Are you an investor…if so…why? Unless you are short SiriXM…You have no reason…none…to be posting here…Unless you are a D…head who just likes to stir the pot!
I hate to tell you…SiriusXM is here to stay…with Malones investment…the completed monopoly…Iphone/smartphone apps…company is poised to prosper over next 2-5 years!
Bottom line is that word of mouth is that Mel & his minions have turned a great service into a shell of what it once was. It’s gonna fail. I bought at ~$7/share. I will probably NEVER get my money back. As long as the quality of programming declines,customer service is the pits,etc. the subscriber count will never improve.
Oh BTW, I guess you haven’t heard about the fee increase due to royalities that takes effect next month have you? That will bring a basic subscriber cost to ~17/month. Who will want to pay for a mediocre service that now will cost 2 extra bucks a month to listen to???
Recondo
$7/share Disgruntled shareholder! Figures!!!
I’m glad to know that you are smarter than John Malone!!! If there was any chance that SiriusXM would fail…Malone would not have invested 1 dime into the company!!
Love your facts…”It’s gonna fail”…”customer service is the pits”…”quality of programming declines” Personal opinions of a disgruntled shareholder…don’t mean squat!
Oh yah…the royalty fee…In my book, 13+2=15…not 17!!! Too maintain exclusive content…you must pay exclusive content! SiriusXM is the only company paying the artist’s there fair share!!! Terrestial radio is screwing the artists…Pandora/Slacker/CBS radio…fighting like hell to avoid paying increased royalities/or royalties at all.
You probably correct about 1 thing…At $7/share…you will not get all of your money back…You quite possible could get more back if you stopped all of the whining and crying on every F…ing Sirius blog in existance!
Actually, I’ve been thinking about it you posting the “Experts” know the best course.
Financial “experts” were the ones who got us into the mess we’re in. “Experts” like Karmazin boasted “Watch us Grow & Prosper”
So you know what, I do think I can do a better job programming than some of the programming “experts” on SiriusXM. At least I wouldn’t have some no-name comedian have a talk/call-in show on “Rawdog” on the Friday before Memorial Day during prime-time rush hour on the entire Eastern Coast of the United States.
I will gladly do it for $50,000/year which is a bargain. I would make sure that customers aren’t taken for granted too boot.
Also,
If they took a lot of us “whiners” advice you’re right, maybe the stock would get up to around 9/share and then I’d sell.
I forgot……….
I guess having a talk show on “Rawdog” during primetime rush hour is your idea of “exclusive content.
You must be drinking that exclusive brand of Starbucks coffee while in the Texas hinterlands since that’s such a great example of exclusive content as well.
Well……………………I’ve seen many articles posted on the Buzz standing up for the company………………………………………………….Have yet to see this and many other topics covered by the companies own management. And THAT is truly what sticks out to me.
Socal
Agreed! lack of communication from Management is hard to handle!
Hey still sirius. People like you who post here appear to have more passion for this company, than the companies management itself. Just saying. Anyway, good luck to you.
Socal
My passion for the company stims from the content that they provide. I travel daily in rural South Texas. Without satrad…would be stuck with am or ipod…neither are acceptable! Only post occasionally…when people with agendas start spewing their BS! I know that SiriusXM is not completely out of the woods yet…but they are making significant progress…more communication from Mel/Malone/Maffei would greatly bolster how company is perceived by MSM.
Have a great day!
Analysts such as Scott Moritz of TheStreet.com write as if they are short on sirius. He does not mention the fact that 400,000 members have added the best of packages and if sirius adds sports packages such as baseball as stand alone to sirius subscribers the numbers could increase
10 percent. Even short term packages such as playoffs would generate added revenue.
Mike
Good points! If sirius were to offer the different sports, playoffs, or even a pay as you use plan…Subs would increase along with revenue!
HORRIBLE STOCK BOYS……………………………:( any way we slice it…………………….
BTW………I am a subscriber and an investor, and I’ve made terrible mistakes with this stock, both at the beginning and as of late……………….ITS A TERRIBLE STOCK……………..despite ‘content’ etc…….the friggin stock SUCKS BIG !!
Draland
Agreed! Made the same mistakes myself!!! Stock currently does SUCK! However, I strongly believe that with the balance sheet starting to come together, coupled with Iphone app, CPO car market coming on board, and Malone and company monitoring EVERYTHING SIRIUS XM does…Changes are coming!IMHO
😉 THANKS for the vote of confidence, this is one of the functions of this site, obviously, we come here to exchange ideas, but we also support each other through this long and suffering ordeal…………the rest of the world may however view us as a bit dilusional if not worse, IMHO………
“GM Bankruptcy Does Not Spell Doom For Sirius XM”
My Headlines would read:
“Karmazin Spells Doom for Sirius XM as he Retains CEO/Board Position at Recent Shareholder’s Meeting”
Let’s call a Spade A SPADE. Karmazin has shown the ability to do exactly what the PPS reveals: take a once promising company with tons of potential to the current model of a company with plenty of potential, but no leadership. Leadership is lacking BIG TIME. Its almost as if Karmazin is ashamed to make a statement or regular appearances to PROMOTE and SELL Sirius XM.
His larger-than-life reputation as a Media Wonderboy continues to fade on an hourly basis, IMO. Hell, I can finance a business on Credit Cards at 15%! I can overpay for my talent, just to keep him from my competitors. I can blame the less-than-desirable results of my decisions on the government, et al.
That’s NOT Leadership, that’s more like a Once Great General fighting in Retreat Mode!
Hopefully, and I say this with much trepidation, Malone is the Commander-in-Chief who has plans to return LEADERSHIP to the CEO’s position, soon, before the retreating General is completely defeated.
Battles are being lost for the shareholders… will the War be lost as well?
Max
Agree with most of your post! To set the record straight…Mel had nothing to do with signing the high priced talent (stern, Oprah etc)
Malone brings new ideas, much needed cash, and a strong track record of success! All we can do is believe that Malone will use his mulitiple, inter-related businesses and expertise to guide SXM to its full potential.
All: we will never agree on the state of the company. Why? Each of us that has a position also looks at our respective position based on our individual level of pain and suffering. I empathize with the poster above that is at $7. Personally, I first bought in at 2.38/share last year and have averaged down to $1.16/share–so my pain is less and my suffering not as long as the guy who is at $7/share. The fortunate traders and investors are those that bought when the SP hit its 52-week low, because they are realizing an upside. So, we are all in different situations relative to the current SP and our positions. So … let’s find something more meaningful to discuss on this board such as indicators that bode one way or the other for the company and its stock. At a very fundamental level I regret ever investing a dime in SIRI, but I did and lots of additional dimes in multiple buys. Now I am holding, waiting, and trying to follow hard news, press releases, analysts’ opinions, and comments on this and several other blogs of interest. In my case one thing is for sure; I am approaching a point where the long term capital gains tax rate will start kicking in on my buys–if such gains materialize in the coming weeks and months. I hate my current position but all information that I have access to makes me continue to believe that Sirius XM remains a prospective winner, just not in the near term or to many longs that desire to trade far more frequently than I do. One quick final comment: All along SIRI has been a speculative play, and I only used powder that I could afford to lose. Doing otherwise would be foolish on this non-blue chip, non-dividend paying, nonsensical stock that moves for surmised reasons from day to day and week to week.
My buy @ $7/share was money from a company bonus(remember those?)so I’m not really losing a lot of sleep either. I bought it because I WAS a rabid SatRad subscriber/fan and put my money where my mouth is because I truly believed in SatRad broadcasting. Yes it was speculation on my part as well.
What I’ve been saying/posting all along (are you reading this “Still Sirius”) is that the performance of SiriusXM(not just the stock’s performance) has been in a steady decline. Just look at all the posts on every damn SatRad site. If I didn’t care why would I post?? I truly LOVED XM’s way of operating. They had superior aftermarket hardware for DIY’ers like myself(too much is made of the new car market IMHO) as well as outstanding customer service and programming. I favored XM but told people they couldn’t go wrong with either one. Think about this…We XM subscribers voted with our subscription and because we had a choice of which SatRad company we wanted. That is the most direct way of voting I can think of. I was truly disappointed when XM wanted to go into an unholy union with Sirius. The more I read about Karmazin the less comfortable I felt about SiriusXM’s future. Looks like my concerns are valid. Now “Still Sirius” keeps posting “Wait & See what Malone’s gonna do”
I’ve heard/read that song & dance too many times about execs who were supposed to be the savior of a floundering organization. The handwriting is on the wall y’all. NONE of the EXECS ARE LISTENING TO ANY DAMN THING THE CUSTOMERS ARE COMPLAINING ABOUT!!
So yeah, since Karmazin & Co. have had the helm, it’s been a real stellar performance. The only sad thing is posters like “Still Sirius” think Karmazin’s (or Malone’s) way of doing things like it was 1980 are the way to go.
I based my cost of $17/month on another website since I haven’t paid a monthly subscription in years. With this $2 increase(even if it ain’t Mel’s doing) it’s harder to justify paying more bucks. Mel sez “if you’ll extend your multi-year subscription,you won’t be subject to the fee” Well,Well,Well….Seems like he’s up to his old shell game tricks to me. What are you gonna do Mel & Malone— make it up in volume????? Yeah, fat chance.
I truly won’t lose a lot of sleep when it goes under because it ain’t much like it was anyhow.
Prove me wrong.
Actually from what I’ve read, SiriusXM was not required to pass along the $2. They are CHOOSING to do that. If the company was all some post it to be, maybe ‘ol Mel could’ve lowered the sub fee a buck or two.
Let’s see….
Scatter-shot programming,yakking DJ’s,elimination of superior channels,etc.
Yep,
Mel,Zellner,Greenstein, & Malone sure do know what they’re doing.
Ain’t they “Still Sirius”??
PMO
Excellent post…Well thought out…I too had a initial buy in price of about 2.60…had better luck averaging down…now at .49. I agree that we need to discuss different things on this blog. But we are all supposed to be for the same reason(Recondo are you listening) and trashing the company on every post is counter-productive.
Recondo…if you haven’t paid a subscription in years…do you have a lifetime sub…if you do…the fee does not affect you!!! If not…once your multi-year sub is up…cancel…and listen to pandora or slacker…or better yet…listen to terrestial!
The fact that you posted non-factual info($17 sub price)that you read on another blog…is pretty stupid.
In all of your posts…there is not one fact listed…just your personal(jaded because I’ve lost my ass and my favorite channel changed)opinions.
Let’s look at the facts…
1. World ecomony in the toilet…Must be Mel’s fault
2. Chyslyer/GM BK…again Mel’s fault
3. Over-priced talent..signed by XM CEO and Sirius CEO…Mel’s fault…even though they were all signed before he arrived.
4. SAC down significantly since merge…Mel had nothing to do with it
5. 1st time + EBITDA for fiscal year…again Mel had nothing to do with it
6. Increased guiadance yearend EBITDA twice in 3 month’s…Mel sucks
7. Iphone app/smartphone app changing company going forward…Mel is a F…G idiot.
8. Malone keeps SXM out of BK(aledgily) He must be a complete idiot…How did that moron become a billionaire!
Those are facts my friend! Not my opinion!
Only time will tell who is right or wrong!
BTW- I do believe that Mel maybe pasted his prime when it comes to new/innovative ideas. No one is better than Mel at cost cutting!
I believe that he will not be here long term! Malone will put his team in place when the time is right!
You’re analyzing/rationalizing it WAY TO F**KING MUCH!! The stock market is littered with the bodies of companies that looked good on paper or showed promise of a recovery but word of mouth & word on the street showed what they were truly made of.
That some overpaid programmer decided to have a talk-radio formatted bit on a supposedly uncensored PREMIUM comedy channel during one of the busiest rush hour periods is not a fact???
You forgot to mention some of Malone’s failures. The dude is just a cookie-cutter version of a younger Mel Karmazin.
All he wants to do is sell schlock. Neither is really interested in a quality product. Mel has admitted as much and is often quoted as saying: “I love to sell advertising”
Again, two years ago you could not find a bigger supporter of SatRad but that was before one of the biggest f**k-ups in late 20th/early 21st century.
I get absolutely NO pleasure is posting that.
Whack me with a wet noodle if you want to about my mistake on the fee increase but so what?? The fee is coming and it will influence the way potential and existing subscribers decide on how to allocate their ever dwindling funds for unnecessary expenses. For SiriusXM to offer a “get it while its relatively cheap” says a lot about how they do business. That’s usually a sign of despiration and schlock marketing at best. But under Mel & Company what do you expect. He and Malone are cut from the same bolt of cloth.
Face it, Mel & his minions who think like him are in control and the buck stops there. No matter how you cut it. In the business world you are either a champ or chump.
Matter of fact that goes for about anywhere.
You bring up a good point.
You could really cut a lot of costs by not having anything on the channels. Dosen’t cost a cent if nothing’s there.
That is an absolute fact!!!!!
I’m refering to Malone’s stellar success with ATHome.
Plus at 68 years of age he must be brimming with youth & vigor and looks at the situation with a pair of clear eyes.
NOT!!!!
The man is entrenched with the same mindset as the rest of those types who can’t/won’t see SatRad for what it could have become and have basically set it on the road to failure at redline RPM’s.
Recondo
Must have hit a nerve! Do you really think that just because some dipstick F…k’d up some programming that 15.4M people are going to cancel. Wake up my friend!!
Without the merger…both companies would have gone BK or would have been purchased by someone who doesn’t give a rats ass about shareholders or subs. Of all the suitors…Malone is a pretty good partner. MOST of his business ventures are profitable and his track record is good for his shareholders!
SiriusXM is going to turn the corner in the near future and slowly become profitable! It is not going to be easy! What choice do we have…I see the glass as half full…you see the glass as F…k’in empty.
Again, sorry that you have probably lost your investment…that does suck!!! But cont to trash the company on every blog…it doesn’t just hurt your investment…it destroys everyones investment! And I for one will not simply sit back and read the BS that you write without calling BS!
Again, I do not understand why you keep your sub or your investment in a company that you feel will fail. doesn’t make any sense…unless you have an agenda or are just crying and trying to take you ball and go home!
NO,NO,NO,DAMNIT NO!!!
All I (and a shitload of other subscribers) want is a radio system that is worth a damn again (as it was before the acquisition)!!!
What part of that simple premise can’t you UNDERSTAND??
You sound just like a lot of execs who think they know what’s going on but are truly oblivious to the ship that is sinking around them.
BTW,
A post on MSN’s SiriusXM’s article section featured a Malone interview (27 May 09)
Guess what???
He said a lot about sports packages and some of his accomplishments and failures and as the Barron’s article noted: NOT ONE PEEP ABOUT SIRIUSXM.
Sure shows you how much he has an interest in SiriusXM there “still sirius” now dosen’t it??
Basically what SiriusXM needs to do is get back to the basics of quality programming or it will fail.
Plain & simple.
I think Howard Stern is supposed to be on the David Letterman Show on Monday June 8th. Is he going on the show to promote the new I-Phone application? Probably not. The end of the 2nd qtr is approaching fast. I don’t think the I-Phone app will save the day, but it may help.