Should Mel Karmazin step down as CEO? (what's YOUR call?) - Orbitcast

Should Mel Karmazin step down as CEO? (what's YOUR call?)

| 83 Comments
Mel KarmazinJon Ogg of 24/7 Wall Street has called for the ousting of Sirius XM Radio Inc. chief executive Mel Karmazin in a recent post.

His reasoning is somewhat vague, well, aside from the fact that the stock price is more than dismal - reason enough for most folks considering the current price. But while Ogg gets his timeline mixed up (psst, Howard Stern announced his joining Sirius before Karmazin came aboard), he does point out that 24/7 Wall Street has a strong track record of calling for the heads of CEOs.

Ogg yields to Michael Hartleib to give the most powerful statement, using Karmazin's own words from a CNBC ad spot where he said that a "shareprice is like a report card."

"News Flash Mr. Karmazin," said Hartleib. "I and members of SaveSirius.org give you a big fat 'F' which I guess is appropriate considering the way you *%$# us."

Of course, many shareholders are angry. For good reason. But the question at hand is whether Mel Karmazin stepping down would improve the situation.

So I'm asking for your opinion.

Do you feel Mel Karmazin should step down as CEO of Sirius XM? Sound off in the comments.

[24/7 Wall Street]

83 Comments

Orbitcast. I think we should stick with Mel. A lot of reason why. We seems to: work hard, know business, be aggressive, has a good track record at previous companies, not want to give up before he wins the fight.

No, Let Mel stay...

I really think it was the FCC and their taking over a year to make a decision about the merger. That year delay basically left the Sat radio in Limbo. A year with no decisions and no new radios and most of all very few new subscriptions. People wanted to wait until a decision was made.

Everyone lost confidence. Now with the carmakers in trouble things are just getting worse.

Mel is not the reason.

Mel stinks! Stop ruining my company and take your $500 million dollar buddy with you.

Is it really fair to say SIRI stock price is all based on Mel K?
I think not!!! Look at the economy. Everything sucks *SS!!!! GM is at ~$4. Wasn't it a $60 stock?
If you look at Sirius Xm radio, you need to understand that they are attempting a whole new business model. Yes, I'd agree that things are not "CHEERY" maybe a lot of things can be different but I don't think it's all Mel's fault.
For example: Is it Mel's fault the FCC took so long to approve the merger, even after the DOJ approved it? I think not. That stuff is out of his hands! The bases of life and Stock price is based upon what you can control, but there is always that little parts that you can't control. If you need a real life explination of this, just look at my life. I was perfectly healthy as a kid. I was even nominated to the United States Air Force Academy. I was an athlete and seemed to be on a clear path, when all of a sudden, at 19, I went blind. The doctors discovered a tumor in my brainstem and I lost my balance. Surviving was huge. I was given an 80% chance of death after 6 months, but 10 years later I'm still here. Go Figure, It's called life, Shit happens. Deal with it.

Can him and Greensteen!

I'm not a huge Karmazin fan, but at the same time, give the guy a break. He's running a satellite radio company in one of the worst economies in several years. The tide will turn, and things will turn around. However, i'm afraid that with the agendas that everyone seems to have, I don't think he'll be the CEO for much longer.

I think we should stick with Mel. Further, I think Sirius should countersue Hartleib for all of his libelous talk. He does not speak for all shareholders

NEWS FLASH Mr Hartleib: All stocks are way down this year.

If share price was the only reason to keep a CEO, 95% of the CEO's in this market should resign.

Mel didn't delay approval of the merger and delay by at least six critical months synergies and the ability to get financing -- a year ago when the merger should have been approved, Sirius and XM bonds were both trading virtually at or above par.

Mel didn't create the credit crisis and current recession, unlike many of the CEO's in the banking/finance business that did -- and still have their jobs.

Mel didn't build gas guzzling SUVs without a plan B for higher mileage cars, unlike the auto CEOs that did -- and still have their jobs.

Mel wants out.

He knows how to run used car businesses and FM Radio. He is good at getting lucky, finding talent and being a damn good salesman.

He clearly lacks the experience of running a subscription business where the consumer votes with their subscribing dollar.

It's the content stupid - screw with the content and you screw with the reason why people came to satellite radio in the first place.

Yeah, he should go, and Parsons with him. These two people have destroyed the business model.

I think they should replace the two of them with Hugh Panero. Hugh at least understood what it was that was making satellite radio interesting.

Fire Mel and the entire BOD and start
fresh or sale the entire sirius/xm
company to clear cheannle or any other
broadcast company since that may just
happen

Yeah, you drop Mel, and who are you going to bring in? Mel knows the company, he sounded pretty smart in the interviews I've heard, and he truly believes in the medium.

But here's a question on the stock: If they had kept XM's stock, which was hovering at some $6, would they be in the same quagmire?

If they brought in a new CEO, it'd just show to the stockholders that they messed up, and lower the already virtually non-existent confidence in the company, financial-wise. Unless the guy is some big name, a leadership change would only hurt the company. No argument.

Mel contributes NOTHING.

He is a egotistical moron that wanted to dominate everything he over sees. But you can't put the blame totally on Mel for the stock price since most every stock out there has gone down down down.

GOOD LUCK BRO!

Mel, repeat after me, "YOUR MOM'S BOX"

Mel I still want to know when will we have the Top 50 and Top 100 A la carte option to select the best from each company? Oh thats right you LIED about that to the customers, shareholders AND Congress. Thanks for FUCKING KILLING satrad and all of our great channels.

Put this old bag of shit out of his misery before he completely destroys satrad and then moves on to killing internet radio too.

No, When your at War you don't fire your commander and chief! He's navigating thru the perfect storm. His reputation in the industry is the lifeline of Sirius Xm. He had no control over how long the FCC & Justice Dept.
would take on the decision process. He had no control on high fuel prices and a tanking economy. He had no control over the Detroit auto makers. He's in the fight of his profesional career and he doesn't plan walking into the sunset w/o a fight. There are outside powerful sources trying to kill Sirius Xm such as the NAB and the Georgetown Partners. They had a huge hand in slowing down the merger process. He was hired after Stern, but love him or hate him,Stern put Sat. radio on the map. It's no doubt an uphill struggle and he's keeping tight lipped. Can you blame him. Anytime he says anything positive he's hit over the head with it! If anybody can lead this new medium out of the storm and into the sunlight it's Mel Karmazen. Nobody agrees with every move he makes. But we the critics have a special vision for Sirius Xm, because we the critics have 20/20 hind sight. I have not heard one expert state what they would have done differently except watering down the content. If he can get this company thru this economic downturn it will have proved the viability of Sat. radio. If it doesn't happen I don't believe any other CEO could have done anything to control the tough external elements that are facing Sirius Xm. Except another guy from Gotham City. I hear he's faster than a speeding train.

He said he wants to take it private, which makes people run.

The stock reflects his statements. Investors would come back if he said that he would NEVER, under any circumstance, take it private.

However, would people believe him? I think he has lost the trust of the investors and we may need another CEO that will lie
to us.

Remember, i think i recall something about XM and Sirius running as they are for 2 years, or something like that... then didn't he merge the channels?

He tells investors - don't invest (because its going private)
and...
He tells consumers - don't buy (because at anytime your favorite channel could be taken away)

You tell me, don't invest and don't buy, might not be the best things a CEO could project to the public, right?

I believe he should step down. I would give him all latitude through the XM purchase, but after that, it has been a cluster. It's likely that the stock would have tanked whether he took a deal or didn't and got sued. The problem is clear, however. Here we are, December 1, and as a Sirius subscriber, I have nothing but the loss of the NBA to show for all the garbage.

The "best of both" promo is a clear indication that Karzamin doesn't know what he's doing. It's not "both" anymore. It is ONE. One company. One opportunity for a customer to purchase. Instead, we have a cluster of options, while good in many ways, are now extensively confusing with the way that Sirius' Leadership has steered things.

Every program is on a different channel, when we should all be picking the same channel number on either prior-type device. Holly is 81 on Sirius, but 35 on XM? Why? There is no excuse, at all, for customer confusion.

All of the sports tiers should be on an additional purchase level. Instead, we have to make a choice at the time of purchase of whether we want baseball or football, and whether we'll pay $40/year more for the privilege of more games. Want Stern? That's "Best of Sirius on XM". Want Oprah? That's "Best of XM on Sirius". Of course, you could get a "Best of both", but which type of radio do you get?

Do I buy an XM, or a Sirius Radio? Why aren't they all marketed the same way? Why is there still two websites?

From the point of view of top-down leadership, this is utter failure. There is no better use of the additional spectrum. Firing a few DJs is not going to stop the bleeding. I would be willing to forgive some growing pains if Sirius were moving towards a unified platform. I would be forgiving if they turned XM into the Sports/Talk Radio and Sirius into all music. Try something. It's very simple. Unify. Stop wasting money. Get an official iPhone app, and make ad money with it.

This may sound like $40,000 lost and bitter, and you'd be right. I am bitter. This is a promising platform being WASTED. It is a confusing product with no clear direction. There is an opportunity of immense proportion here, and instead of capitalizing, Mel & Co have SQUANDERED a golden opportunity. SIrius could have been the HOT ITEM in a crap economy, and instead, it'll end up being the thing you might get if all the GPS and iPods are gone.

Mel does need to go. We need someone at the top that will make something out of SatRad, and not simply kludge together a deal. It was never about the deal; it was about what you do AFTER the deal. Mel's destination was really just the start, and he doesn't get it. It's time to find someone that does.

its too early to give him the ax....he may of handled the merger of channels awful to say the least but if its 6 months, or 1 year and shit hasnt changed then he should leave....

I might make some mad, but I couldn't in good conscience vote for Mel or Gary. Mel's report card is poor. We're conserving money by laying off people and then millions go to Mad Dog ? And that was supposed to be a whole channel, but months in and we still have only the one show for the pile of money ? Just one example of shooting from the hip and missing. Also focusing on the 10% of the business that ad revenue might be and ignoring the product that attracted the customers paying 90% of the bills ??? What is he thinking ?

Gary Parsons should have walked away from the merger in March when it was free to make it go away. He could have done a refi on the XM debt before the meltdown and while there would still have been cutbacks, do you actually think XM stock would be at 78 cents ? (4.6 x $0.17)

I'm sorry you are both fired. Get someone else, if I don't like them in a year or two, I'll fire them.

Same reason I held my nose and voted Democrat. The Republicans needed to be fired. If McCain was in the Republican party would learn nothing and keep ignoring the middle....being just the party of Billionaires and the far right doesn't do it and they need a loss to learn it.

Cheers

I am leaning towards fire the guy.

he is a huge part of the reason the stock price has been decimated.

he keeps backpedaling on his optimistic comments, and talking about reverse splits and going private.

I would change my opinion if he came out and retracted his statement about totally screwing me out of my $68K... er, I mean taking the company private.

times are hard, and I can live with the downturn of the price, but give me the chance to ride it out. don't threaten to force me to sell my shares.

It's too late to save satellite radio. The only way he can truly prove sorry about what he's done to the industry is by throwing himself out his office window. Fucker.

This guy writes- "Mel was deemed a hero when he came over and was credited as the key reason that Howard Stern landed at SIRIUS."

Is this true? My understanding was that Howard Stern was signed prior to Mel ever landing at Sirius. Does this guy know something I don't? That Mel was the reason Howard Stern came to Sirius even before Mel was working there? This guy implies Mel is to blame for Stern's high price, but again, Mel wasn't the one who negotiated that price, as again, Mel wasn't even working at Sirius then.

No offense Orbitcast, but before we give this guy publicity, maybe we should verify he has any clue what he is talking about.

Mel doesn't have a clue, but who would take his place.

congratulations all you pro merger idiots youv'e got what you deserve.again mr.karmazi has run the radio industry into the ground while him and frankenstiens monster laugh all the way to the bank.i'd rather have seen xm sink on it's own then watch him and howie ride whats left of it into bankrupcy
tools

It seems like Orbitcast has gone Siri Bashing...

If Mel goes down, Sirius XM goes down. Nobody can run this company better than Mel can right now. Perhaps in a year or two when Sirus is rolling in cash, then Mel can step down and get someone more innovative, but right now, Mel is the only prayer this company has.

PERIOD.

Terrestrial radio died due to poor content. Now, Mel Karmazing brings the same winning formula to satrad. Cut all the quality from programming and they will keep listening anyway! Mel, I really don't need to pay for multiple channels of obscene humor, channels dedicated to creatively dead artists and even a channel that insults women by painting their lifestyle as nothing but superficial materialism and promiscuity. (Thanks, Cosmo.) All the people who worked for XM and loved their music are gone and now we are forced to listen to robots. I don't like robots. I like Pandora and iPods. Sorry Mel. You program for moronic males 12-35. I'm glad to say I am not part of your target demographic. Shit does not sell.

Believe me, Mel has a longtime plan,but when it gets to sixty you better know when to get out. No one can say that the stock was too expensive for them to buy. Mel doesn't say much, but when he does , people listen. Fear of Mel is good for share holders.Siri is a buy.

The only thing mel accomplished has been firing a bunch of people. That has minimal impact on the finances of the company. Drop him like a sack of potatoes.

Get rid of him...

I do not say this cause of the stock performance.

I say this because he has run many ad based radio companys.

I said it when he was hired and I will say it again.

He is not the right fit for a subscription based radio service.

As for the high priced content and the content wars... blame that on good ol Joe Clayton.

Mel will never go.....even if he sold the company to Viacom.

No. I think, given the current economic situation -- and the abysmal standing of the companies before -- Mel is doing just fine. We need to ride this out with him in charge.

It's early to tell if Mel is going to truly help or hurt SatRad longterm but so far his decisions have been nothing but AWFUL. Yes the economy sucks but I while I was mixed about the merger I didnt expect it to get WORSE after the merger. Time will tell but how much time does SatRad have to still be viable??

Mel should stay. The awful stock price is more due to the FCC trying to kill the company by delaying the merger and the general crappy state of the economy than anything he has or hasn't done. Now, more than ever, Sirius needs a high-profile, experienced CEO to guide it through these tough times.

The content, despite what the haters and disgruntled XM fan boys on this board say, is in place and evolving. Talk and sports are in good shape. The music programming, while far from perfect, it will continue to improve and I still contend that the vast majority of users will be happy as long as it remains commercial free. Sirius' fortunes will improve when the economy (and more importantly, the auto industry) does.

SaveSirius is basically a gang of one - a lone wingnut with a paranoid agenda. He's a blowhard who doesn't count. I'm just amazed how much publicity this Hartlieb idiot gets.

I voted 16,000 shares against Mel & Gary.

Yes he should be ousted along with Greenstein and Parsons. These three have destroyed satellite radio and SCREWED over everyone involved. Let's take a look.

1. Subscribers - Screwed over with inferior content.

2. Shareholders - Look at the trend need I say more?

3. Employees - Do they have anymore or were they all laid off so the company can afford Stern and Russo?

It's thanks to people like Karmazin, Greenstein and Parsons that we are all Siriusly Screwed.

I voted 10,000 shares against Mel & Gary.


He's not the one that issued millions of shares of stock to cause the company to be played with like a DOG(pun intended)and it's rubber ball. He didn't hold up the merger forever to cause the company to get to the point to be a viable business.

He did invest his millions of dollars to show he has faith in the business. And like it was stated previously, how was he going to know the bedrock of the US economy (Ford, GM) were going to bust like a balloon. I say keep him, once all this get's straight things will get better.

I don't get the people defending him based on the economic situation. None of what's horribly wrong with the company NOW is because of that, it's his own botched merger and the resulting changes to programming that have subs leaving the service. And I don't think getting rid of him will save this sinking boat, since a lot of the people leaving will end up investing a couple hundred in iPods and Slackers and other audio devices, and after they're settled in, they're not coming back.

Also, with the economy bad, people are already looking to cut costs. iPods and Slacker don't require monthly fees. Sirius/XM does.

And if the auto makers don't get their stuff together, they're going to be in serious trouble, which spells more trouble for Sirus/XM.

Yes - He must go. Why?

1. His focus has been "taking over" the market. I heard a quote where he said he would destroy XM if the merger did not go through. Why not think of the Customers first. Merging two
companies the are doing poorly certainly can
not make one good company.

2. In regards to the overpaid Stern. He spoke of the "revenues" he would bring in. Which he did. But nowhere was profits mentioned or ebit

3. After reading the interview with Greenstein last week it is clear he does not know how to hire the right people for the job. If I worked at Sirus (it is really not SirusXM) I would do
whatever it took to get Lee Abrams on board.


To recap: He is not an operational or Strategic CEO but a deal making and competitor. If I owned a Holding company I would send someone in
like Mel to do the acquisition and help but not
run the company.

XM and Sirus were in a state of "limbo" for over a year. Cost cutting measures could have been taking place or new content deliverly methods could have been looked at. Not good.

Since its my belief that a reverse split followed by a reorganization is inevitable, existing management will probably be ousted during the reorganzation and new managment will be brought in. The problem with Mel and others like him is that they have nothing to lose, they are on the downsides of their careers, they are going to be paid millions regardless if sat rad survives, thrives, or dies, and they can move on to the next business deal. Sat rad needs management that has something to really lose if they go belly up. True, Mel did buy a lot of stock, so he does have that going for him, but its pennies compared to his net worth, a good write off.

Time will tell

with ZERO bump in sales and/or new subs this holiday season, the end is near.
thanks howie and mel

No!!!!

The entire market has tanked!

Mel has surpased Qtr after Qtr!

Let him do his job!

The stock is being MALIPULATED!

WHERE IS THE SEC?

Fire me? I am a true hero! I took this faggoty satellite radio idea and remade it into something with mass market appeal. Imagination is such an over-rated concept when we all know what works...white people music! Good old U S of fuckin' A music! Foreign terrorists and commie fascist peace creep swine need not apply! "Ethnics" and protesters can go to hell - we don't need to hear their niche music... Why can't you appreciate the channels you are given? The new Sirius XM is run by competent professionals of the radio industry, not a bunch of namby-pamby fans. We know what you want - better than you do! Stop your whining complaints! I haven't even started working on the talk side yet...How does a Sarah Palin channel sound? The Old People's Channel featuring John McCain? "A Hustler at the Bunny Ranch" channel with Alex Bennett? There will be lots of room when we get rid of the whining liberals, uppity negroes, and the rest of the trouble makers! I am a radio god!!!

I agree with a lot of folks here. Sat radio has seen better days.But as a Sirius subscriber I still like what I hear and Im glad we got through the merger.The FCC and the NAB dragged out the process costing zillions to keep the merger active and the merger won out.The NAB are real bad guys here they want sat radio to fail miserably.Now as to all the subscribers we are the ones who are paying the price.XM listeners who are not happy especially with the channel deletions and Sirius listeners who are somewhat not happy and me who is just glad to have something to listen to after all the bucks invested in equipment. I was never an XM subscriber so I cannot compare the 2 services. I repeat,I still like what I hear on Sirius.I do not fault Mel all the way here.He though like the new president elect has a lot to deal with.I would give him a year and then go from there. The economy has the get its act together. The auto companies stock isnt worth a dime right now either. Banks are also folding left and right. My 401K tanked a couple of grand.The merger dust hasnt all settled yet and the holidays are here so lets see how sales of new radios go,Black Friday was busier than anticipated, and also what the new year brings to programming.If you vote out Mel, who would be qualified to oversee the company, someone from Clear Channel? EEK! Thats FM and it still sux worse than Sirius in its present state any day.If you do that then why not let Johnny Knoxville and the Jackass team run Sirius/XM they couldnt do any thing worse or could they?

If share price was the only reason to keep a CEO, 95% of the CEO's in this market should resign.
You say that as if it were a bad thing.

You're missing the point jackass. Some things are out of the control of individuals and management. Just because the US economy sinks you think that's a reason to revamp every individual company's management?

GOOG was at 750 and has lost 500 dollars of value. Let's riot! How could management be so inept?

Whack him. The stock is down, the business model is fried. They need someone with some vision, not another corporate hack.

I voted for Mel to go. glad to see I'm not the only one voting this way.
lied about the merger and "best of" plans, manipulated the FCC, afraid of main competition being ipods, and created a monopoly,

Step down? No, he should be fired by the BOD. This would send a stronger signal that the company wants to change it's ways.

Bring back Hugh!

There is no way Howard will resign if Mel leaves.

Give Mel another year. He knows how to cut costs and what the public wants. The playlists and programming will work themselves out. Mel owns millions of shares of stock. He won't let it go bankrupt.

Give it time.

This has been and still is, a planned manipulation by Mel and goldman sacs. when they decide the time is right ,the price will go up, a small reverse split will happen and siri will be on its way to its first forward split. China is looking at it.They need a spy satellite. Just joking, ok .

Get rid of Mel, bring back Lee!

Eight month's to a year from now, when this stock is eclipsing $8 or $9 a share, or the company is sold to a large media outlet...all you impatient losers will be singing his praises to high heaven.

Lets look at what Mel did. He combined Sirius and XM which many thought would never happen, so already he is doing things most thought was impossible. I think Mel stays CBS radio did well with him then look what happened after he left there right down the shitter.

I would have fired him on the day the music died... 11/12

Mel should have left in 2005 when he began the destruction of Sirius. It was superb prior to his arrival.

Mel doesn't have a clue, but who would take his place.
Unfortunately, it's looking more and more like a Bankruptcy Court judge...

I want Mel to stay, period!

>> Eight month's to a year from now, when this stock is eclipsing $8 or $9 a share, or the company is sold to a large media outlet...all you impatient losers will be singing his praises to high heaven.

At $8/share, you would have a market cap of $24 Billion OR MORE (depending on how much they end up diluting).

Your delusional if you think that is going to happen. Not only in one year, but in ten. Not going to happen.

I sat through the recent conference call and noticed something that I find troubling and in fact, one of the analyst, Tuna Amobi, actually sheepishly posed the question "what happened to the projected 1 billion dollars in free cash flow by 2010".


I don't understand how it is that Mr. Karmazin has stated for a number of years now that Sirius will be at 3 billion dollars in revenue and 1 billion dollars in free cash flow by 2010. This forecast has been stated over and over again for a number of years. For example, SmartMoney Magazine article written by Dyan Machan, published November 24, 2006.

The puzzling part: Sirius has now given a 5-year guidance, they pushed out the 1 billion dollars in free cash flow by 24 months to 2012. The other part of my concern is that it is no longer based on 3 billion dollars in revenue but it is on 3.8 billion dollars in revenue.

I'm trying to understand how it is that a company with double the subscribers which would create for high advertising rates, hundreds of millions of dollars in synergies, now needs to generate an additional 800 million dollars to obtain the 1 billion in free cash flow. I believe this confirms again that Sirius shareholders would have been better off as a stand alone company as we would be receiving 1 billion dollars in free cash flow in 2010, not 2012 and without the need for additional increase in revenue of approximately 30% or 800 million dollars.

Also, after a mere two months of consummating this merger, this company is going to be writing down over 5 billion dollars as the 4.8 billion suggested in good will write down was based at 64 cents. We now have a stock at 25 cents. So, the write down will be more like 5.5 billion dollars which is over 2/3rds of the entire value of the combined company. This is absolutely outrageous.

Mr. Karmazin seems to speak out of both sides of his mouth as he says they continue to ramp up their penetration rate in the OEM channel which will help off set the declining auto sales. Average revenue per user seems to be up slightly which they state is due to more subscribers upping their subscriptions to $16.99 a month for the best of content.

Another comment I found offensive is that Mr. Karmazin suggests there has been no operating failure on behalf of Sirius XM and their management. They have continued to gift themselves (ie: the executives) hundreds of millions of dollars in shares while their shareholders have lost 90% of their value.

We at SaveSirius are going to do everything in our power to prevent management from having the authority to enact the reverse split as well as to prevent them from further diluting to an uncomprehenable fully diluted float of 8 billion shares. We are also going to propose a shareholder based funding initiative where shareholders will contribute $1000 or more to a fund to raise the necessary $211million dollars due for the Februar 09 convertibles. These funds will be loaned to the company on an interest free basis in exchange for certain shareholder guarantees and will be repaid back only when the company is on more stable financial footing. We are actually attempting to reach the bond holders directly to propose this scenario. Any other questions, please feel free to contact me, or I will be happy to give you names of other individuals at SaveSirius@gmail.com and SaveSirius.org


Michael Hartleib

Hartleib...
YOU are part of the problem. The economy went belly up and YOU lost your ASS on Satellite Radio stock ... Every stock in America and around the world for that matter is way down. Poor you.. however, you COST Sirius-XM money with all of your bullshit conspiracies and legal filings. Give it up already jerk-off.


Keep Mel Karmazin & Ban Michael Hartleib...

Mel Stay - Hartleib go


I voted my 603,000 shares with management. I think Mel is fine, and the PPS will come back. Getting rid of Mel would be the absolute dumbest thing possible. Someone should tell Hartlieb that virtually every business on the planet has revised future estimates over the last 6 months....The whole bit with Mel is simply Terrestrial radio, the NAB, & shareholders that do not understand that speculative investing is dicey and risky - all venting/positioning at the same time. Longs will make money in this stock if they ride it out. I actually like the new channel lineup, and so do most of subs.

Let's not forget that our own corrupt government, under the watch of George W Bush, put Sirius/XM in such an unenviable position. They deliberately damaged this company, and now all of us have to deal with a ton of bullshit because of a completely unnecessary merger delay. I don't know if Mel should stay or if he should go. Who the hell knows anything anymore!? I do know one thing - and of this I have no doubt - I despise Bush's stupidity, and I despise his criminal abuse of power while he has been in office. I can't wait until his pathetic ass is gone. He NEVER was qualified or fit to be President, and he has left a horrific mess for his predecessor.

Mel's biggest sin is his inability to relate to subscribers desires. He seems aloof and detached, and this does nothing to inspire confidence among subscribers and investors. A few years ago there was so much excitement about satellite radio. It really did look like the future of radio. Under Mel Karmazin's "leadership", the excitement has fizzled.

Whether it's Mel or somebody else, they need a new approach. They need to get people enthused again. It is a great technology, with the potential to be a great service. If they don't figure out a way of stimulating a largely apathetic public, I see a dismal future for Sirius/XM. As far as getting people charged up about satellite radio, Mel has been an unqualified disaster!

Mel should be let go. the company is in bad shape and his recent decisions in regards to letting everything become xm was a poorly hatched plan. xm programmers are old and out of touch with reality. A move he should have never made. Let him go.

NOBODY ELSE could've pulled off this merger, NOBODY!!! Give it time. He know's what's he's doing.

For all the cry babys that want Mell gone, I would like to ask, what would you do different? Quit pouting about stern he was done 2 years before the murger. old news.
Fact of the matter is, we're in a recession right now, car manufacturers are hurting deelerships are closing, new subscribers arent willing to pay $6-15 a month plus buy equipment when they can barely pay their house payments.

So look at what he had to deal with, 2 services with alot of duplicated content, lots of excessive staff etc. I dont think any of you arm chair genius's could do any better. sadly most of the people that want mell gone are crying because there favorite channel plays 5 more led zeplin songs than it used to, or 3 less george straight songs than you would like hearing.

Sirius xm may die,but if cuts arent made then it'll just die sooner and you can get back to honcho and poncho in the mornings, cheesy commercials with christmas music in them all day and love songs with lily at night. Oh yeah, I forgot, you have your ipod, oh how cool. you'll still be listening to the same 2500 cds in 10 years from now because you got so inbred in your current music that you forgot to listen to the radiow with commercials to be reminded that the tang bangers have a new track out that you actually might want to listen to.

Its unfortunate that some sirius and xm staff are losing there jobs but look around, its happening everywhere. Can you say Circuit city, dhl, general motors, and ford?

Do you oust a guy just because your not getting your proper fix of the beatles or there now editing your favorite t-pain or disturbed track?

Hello all!

I can't express my appreciation for Orbitcast enough! It has been such a great tool for keeping up with Satellite Radio for me! Thank you so much Orbitcast for all you do!

I too feel Mel should stay! He managed to put things together! Now that he has done so, give him a year, then decide whether the direction he is going is good for the company!

Yes! I don't like everything! I liked fifties on five when Matt the Cat and Ken Smith ran the show! I think the guys running the channel aren't bad and I listen to them but somehow the channel is more like Sirius gold. The only thing I didn't like during the Smith days was when Boni Mauroni would follow a slow ballad by Nat King Kole, Eddie Fisher or something from the pre rock and role fifties. This no longer happens and I like that better! Then again, one doesn't hear much before 1955 any more until the two hour program comes on. I do like Road House Better than the original America. I miss Dan, who was on at night! But then, this is the story of radio! People and formats don't stay around forever!

One thing I haven't heard from anyone here! The two platforms weren't created equal! XM has a more stationary orbit where Sirius does not have such a stationary orbit to the earth! The Sirius signal was always lousy in my location! It was fine when I could hear it but when it was gone, it was gone! I wasn't going to put up an outdoor antenna for them either. I can unplug any external antenna from the My Fi I have and hear the XM signal just fine while I'm relaxing in my back yard during the summer. My wife wanted to hear the Pre Season Denver Broncos game! I took the Sirius Receiver outside thinking I would hear the game! I couldn't hear a thing on that receiver! It was dead to the world! I managed to find it on TV and used a radio outside which could get the TV channel. This too will be gone come February but that's another story! No doubt, somebody in another part of the country can hear Sirius better than XM. When a radio comes out which can get both platforms, this would be very nice indeed especially when the radio is portable! I have since unsubscribed from Sirius and have the best of Sirius package on my XM. I can now hear NFL football effortlessly now! I rarely if ever lost the XM signal. I constantly lost the Sirius signal.

The only thing my wife misses is a country Christmas channel! I hope this will be corrected next year! Over all, I don't mind the changes! I don't feel Satellite Radio has gone down the tubes! I'm still hearing music I rarely if ever hear on AM FM radio!

Sirius and XM are one company now! This idea of saving sirius is ridiculous at best! I would say the movement is being pushed by stock holders who didn't like the merger vote! I can see making guarantees better for stock holders, but the company is now one presently whether you like it or not! I wish one could concentrate on what really matters! How about an accessible radio where a blind or visually impaired person could operate its many features independently without sighted assistance! This would be truly wonderful!

Thanks for reading!

"I despise Bush's stupidity, and I despise his criminal abuse of power while he has been in office. I can't wait until his pathetic ass is gone. He NEVER was qualified or fit to be President, and he has left a horrific mess for his predecessor."

I see your tardis is stuck in reverse. Say hi to President Bill for me.

The slumping economy is exactly the reason that Sirius XM should have been more careful with respect to pissing off their subcriber base with a content change. Obviously, XM subscribers got screwed because they had the better musical content, a content developed over a longer period of time, with more passion and knowledge.

to all you folks claiming that the whole market is down, get a clue......SIRI is down 94% YTD, Dow is down 35%, S&P 500 is down 40%. I would say Mel has far underperformed. There is nothing left in this company and now they will compete with the slackers of the world.

Back to the Future...

Successor.... DUH!!! Bush's evil influence is so pandemic that it just might have a negative affect on the past; he certainly has assured us of a gloomy present and future. Thank you for pointing out my blunder!

Amen brother. Karmazin is exactly wrong for satrad, subscription-style anyway. Well summarized on today's Bubba show, these "radio" guys took SiriXM exactly the wrong way. EVERYONE I know who has/had XM thinks they've really dumbed down and diluted the appeal of the content and more than one is about to cancel. Mel is a radio salesman unfamiliar with the concept of the listeners as his customers. He considers advertisers his customers, as all commercial radio salesman do. Missed the boat.
Maybe SiriXM was doomed anyway and this manipulation was more a Weekend At Bernie's than any actual rescue operation.
I did enjoy XM radio for almost 2 years. Wish some of their programming would surface on the internet, even in a subscription model. I'd pay for the original Deep Tracks, Fine Tuning, Beyond Jazz, something like what XMX was ...

Get rid of Mel... he has already made public statements that he wants to take Sirius back private... which explains why he's on a mission to drive the stock into the ground. He has single-handedly changed Satellite Radio from free form, rich programming to a copy of FM/Terrestrial radio focusing only on pop and numerous song repeats... and that can be found everywhere else but Sirius.

Reducing our channel choices by dropping channels was the last straw for me... that kind of action alienates the hardcore sirius listeners who have multiple radios and promote the service to friends and family.

You hit the nail on the head. I would be entering comments on XMFAN.com but I was banned simply because I stated in FAQ thread about programming changes (before the real announcement) that there was no info about the programming changes in the FAQ of that site. And now I know why I was banned. The staff and advisors of that site are aon Mel's payroll. They reflect his attitude. The irony of it all, is that Mel is likely a NAB, HD radio trojan horse.

What's that crap on his lips and nose? Was he eating a scone before taking this picture? I'm pretty sure he can afford someone to wipe the shit off his face. Which is more than can be said for the shareholders.

his 500 million dollar buddy is the reason there is even any news about "your" company. Without the 500 million dollar man, "your company" still would have less than a million subscribers, nascar would be available to only XM(there would still be two companies), and quite honestly with the market the way it is today Sirius would probably already be a thing of the past. Don't comment on something that you obviously know nothing about! Hail Stern! On your knees bitch!

Mel has a lot of his own money invested in SIRI, so I semi trust what he thinks best for his wallet. Should he push a Reverse Split, then I'll have to question his major Stupidity. Every Stock that has had a reverse split has seen their new higher price go back down to the older split price. Reverse Split won't help.....finding companies to refinance their Debt will bring the price up.
Start the SIRI Bank & Trust and get TARP Money, everyone else seems to be starting a Bank.

It's not mels fault for the failing economy, auto industry or the fact that the FCC took forever to approve the merger between Sirius and XM. The share prices are floundering now but if Sirius survives the year (2009) it will have been reborn into a very profitable company.

To be honest I don't think I would want any other CEO in charge in this triple threat blow he is dealing with.

Gary

Should Mel go? He should go to jail along with the bankers who lent him the money to ruin CBS/Westinghouse and everything else he has touched in the last twenty years. He turned a great industry into what it is now with the help of his Wall Street bankeer buddies.
Also take some of the quivering spinless station managers that he demorlized.

John Livingston