being the moron that I have been accused of being it is probably because when I read things like... " Separately, White dismissed talk that DirecTV might be interested in purchasing Sirius XM Radio ".... I think that staement is probably true...but... what about the company that ownes Direct-TV.... maybe they are interested.... that would be Liberty Capital.
Koop
John....Originally Posted by john
I am not rich, I am going through a divorce. Things like renewing my subscription were not really on my mind at that point, and as you can imagine, I even go slammed for renewing my x's subscription and being nice.
Royalty fees are not paid on NET additions. Every GROSS subscriber brought in after July 29th had to pony up the dollars.
I can understand that Tyler, my point there was that many dont have those kinds of problems to deal with and would think to renew their contracts coming to an end that close to the rate increase just to push it off. Then again that just seems normal to me.
Sorry that was my fault, I got the words gross and churn mixed up, I put gross when I should have put churn. The first part of the post is churn and the second part is net. So Churn + net = gross.
a few weeks ago Spencer wrote a piece that was critical of Sirius XM's customer service . . . condeming their practice of assuring renewing customers that "Stern is coming back" or that "Stern has nowhere to go"
now this . . .
State investigates Sirius XM for billing practices
By Diane C. Lade, Sun Sentinel
Updated: 7:40 AM 5/12/2010
The Florida Attorney General's Office is investigating Sirius XM Radio Inc. consumer complaints related to its automatic renewal and billing practices. Other consumer agencies say they have heard similar complaints from customers.
State officials say more than 200 complaints about Sirius have been received by the Attorney General's citizen services offices, the Florida Department of Agriculture and Consumer Affairs, and the Better Business Bureau over several years. Mike Galvin, spokesman for the Better Business Bureau of Southeast Florida and the Caribbean, said consumers claimed they had been automatically re-enrolled for services they did not want, or that the satellite broadcast radio provider made it difficult for them drop coverage.
They also complained that Sirius' collection agents aggressively pursued them when they refused to pay for services they felt they had not authorized, Galvin said.
Sirius spokesman Patrick Reilly said the company was cooperating with state investigators. "We believe our subscription renewal practices comply with all applicable laws, including the laws of the state of Florida," Reilly said. Subscribers are notified prior to the renewal of their subscriptions, he said.
Florida's probe comes as a bill, passed by legislators last month, tightening regulations on automatic renewals awaits Gov. Charlie Crist's signature. The proposal would require businesses and individuals to more clearly disclose automatic renewals, and notify customers when cancellation deadlines approach.
Sirius XM, which claims 18.7 million subscribers, is the result of a merger completed in 2008 following Sirius' purchase of competitor XM Satellite Radio.
Sirius XM Stock: Buy, Sell or Hold?
By Andrea Tse 05/12/10 - 08:00 AM EDT
For the first quarter, Sirius XM reported net income per common share of 1 cent versus a loss of 7 cents a share in the year-ago period, beating the break-even consensus estimate. Sirius XM added that it has "nothing new to report," regarding its contractual negotiations with Howard Stern.
BGB Securities analyst Murray Arenson, for one, left Sirius XM's earning calls with a sense of confidence, and raised his price target for the stock to $1.35 from $1.15, previously. Arenson has a buy opinion for the stock.
"Sirius is executing well, in our opinion. As auto sales have improved in recent months, Sirius has enhanced operational efficiencies, and has taken steps to improve its balance sheet," Arenson said in an investor note. "While the company is cautiously maintaining its guidance, we have raised our forecast marginally."
Arenson added that he will continue to focus on car sales numbers and their related, upfront subscriber costs, given that it's a crucial cash flow driver for Sirius XM.
Two other analysts who cover Sirius XM stock, meanwhile, held hold opinions on the stock after Sirius XM issued its first-quarter report.
Looking forward, S&P's Tuna Amobi sees some good and some not-so-good scenarios for Sirius XM. Among the good: "We see the auto OEM (original equipment manufacturer) channel benefiting from a rebound in U.S. light vehicle sales, and improved conversion rates of promotional and unpaid trials to self-pay subscribers," he noted. Amobi has a 12-month price target of $1.50 for Sirius XM.
"In contrast, we expect further subscriber losses in the after-market retail channel."
Amobi projects that Sirius XM will add a bit less than 600,000 and 800,000 customers in 2010 and 2011, respectively, reaching almost 20 million customers by the conclusion of next year, with roughly 20% self-pay monthly churn. Sirius XM ended 2009 with about 18.8 million subscribers.
Matt Hooligan of Wunderdich Securities, who is also brandishing a hold opinion on Sirius XM stock, described its first quarter report for both top line and expense control as "excellent." Still, Harrigan notes that his $1.25 target shows "caution on the economy despite the current burst of latent vehicle demand."
One of the more bearish of Sirius XM analysts is Marek Fuchs-up, a former stockbroker for Shearson Lehman Brothers, and a writer for TheStreet. In his May 10th Against the Grain video for TheStreet, Fuchs urged investors to sell Sirius stock.
"When it comes to Sirius, Stern is all that matters -- seriously. Here's why: his contract comes due. They need to resign him to maintain their momentum and their pull and their hold on the public, but if they do resign him, it's probably going to be for enough money to step on any earnings progress they've made, thanks to the slight recovery, at least in the short-run, in auto sales.
"All in all, they're in a nasty knot. And until they untie themselves when it comes to Howard, not Europe, you can't be chasing this thing up, it's just going to come down."
But don't take their opinion on it -- we want to know yours. And so we ask: Users of TheStreet, which analyst ratings on Sirius XM stock do you identify with the most? Take the poll below to see the consensus of the TheStreet -- and don't forget to leave a comment. Because whether you're an analyst or investor, everyone has an opinion.
Last edited by Sirius Roadkill; 05-12-2010 at 02:51 PM.
Well, much as I had expected . . . Jimmy's little coterie of fomentors are now laying the groundwork for the next takedown . . . they call it "The Howard Stern Catch 22" I am sure . . . Jimmy is probably running all around his street.con offices (who are being investigated by the IRS) with a post-it note on his forehead . .
thestreet.cons next swindle goes something like this:
Company Signs Stern - Costs too much in Expenses - Sell Short
Company doesn't Sign Stern - Lose too much Revenue - Sell Short
http://www.thestreet.com/video/10745...ml#82994507001
Yeah-yeah, we are way ahead of ya on this one Jimmy . . . you're losing your touch
You guys know how much I like it when Mel starts a speech with the word "SO" or when he answers a question starting with the word "SO" . . . (as if to say, "listen closely moron, I'm about to school you") . . . it's a very cool technique
The other one I like is when Mel is really annoyed with a question he will start his answer with "It would be helpful if we dealt with the facts"
So to Scott Dimwits . . . It would be helpful if we dealt with the facts:
Fact 1: 700,000+ net-ads reasonably probable for 2010 is not "anemic" growth;
Fact 2: Sirius XM most assuredly CAN afford to pay Stern $100,000,000 if they wish to do so; the company is currently profitable in case you haven't noticed and the cost of Stern only requires 1 million subscribers;
Fact 3: In case you weren't aware, total, company-wide, ad revenue is a minor fractional part of the Sirius XM subscription business-model and Stern is only a small portion of that;
Last edited by Sirius Roadkill; 05-12-2010 at 03:21 PM.
That is terrible and we all have seen examples of people that have complained about it. SIRIXM had better get their act straight. While I know it is a few out of many even those few are way to many with some of the types of experience we have seen people post here. Those experience never seem to make sense to me. I will admit in dealing with other companies the same kind of shit happens everywhere.
Here is an example I had a lawn fertilizer company (a multi state company BTW) that called me and gave me a deal. That if I bought 5 treatments and paid upfront I would get the 6th for free. So I paid in Mar. and had to call several times before they came out for the first time June 16Th, that was not the last time I had to call to get them to come out. needless to say by Nov15th they still had to do 2 more treatments and I told them listen this is not working out, so why dont we just skip the other 2 and you give me some of the money back, they said no we will do the other treatments and they did the last one happened, Dec. 14th (yes I said Dec.14th). ion the end I was so pissed that not only did I want to just pull the service. I had also told them that they have tanted me so bad that not only would I not ever use them again I dont think I will ever trust another one again. So comes the next spring and what do I get a sign on my lawn of that company and a bill attached to my door for that service. I looked and not only was I pissed to think they did it and billed me for it but that when I looked at my lawn there were no granels there is in the lawn and on the sidewalk/driveway (they never did it, it also happened during my treatment, the supervisor told me it does happen sometimes, so be careful and always check to see if they did it dont just trust the little sign on your lawn). So I called costomer service and told them the story (including what had happen before) and she said they would take care of it........ Yes she did alright they sent me another bill. This went on for 2 years them sending me a bill and then I got collection agencies calling and sending me letters after I sent them a letter telling them I dont owe for the services they say I do and why, they dropped the claim.......Still not over, I started to get calls from the company now with them telling me they will sue. They said because you did not cancel us before the next year we can carry forward the contract to the next year. I told them go ahead, I would love to get this infront of a judge with my phone records. I think a judge is not going to think I was calling you 7 times in Nov. and Dec. to be telling you you are doing a great job and I want you back. They never filed and since the statue of limitations ran out I guess it is finally over.
As you can tell this still sticks with me to this day and it still pisses me off.
Last edited by john; 05-12-2010 at 03:51 PM.
So . . .
"I think that there is too much [advertising] inventory," Karmazin told Rose earlier in the interview. "I think that the Internet has changed... the world. And what's happened is that there is far more supply than there is demand."
But since Sirius XM Radio isn't dependent on advertising exclusively as it's revenue stream, it doesn't suffer as much as its terrestrial radio cousins.
"And that's why subscription, subscription, subscription... I used to love the advertising business until Google ruined my day," said Karmazin "Google comes along and this is the new way of doing it, and I'm now in the subscription business."
Mel Karmazin
"With pursed lips and admirable restraint, Mr. Karmazin addresses every question, from the germane to the ridiculous. His famous temper never goes beyond the quip, “I think it would be helpful if we dealt with facts.” He stays on message, even though the dynamics of his company — continued revenue and subscription growth, but nothing left in the bank at the end of the day — cannot continue forever."
Nice post, I like when, common sence, logic, and facts, are used.
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