Sirius XM gets a hearing with Nasdaq over stock delisting - Orbitcast

Sirius XM gets a hearing with Nasdaq over stock delisting

| 43 Comments
NASDAQSirius XM Radio Inc. got their hearing with the Nasdaq that they requested after receiving a de-listing notice from the exchange last week.

The hearing has be scheduled for April 29, 2010, the company said today.
Sirius XM will be given the opportunity to request continued listing on the Nasdaq if it doesn't fall in compliance with the $1.00 minimum closing bid price.

This also buys them more time as the hearing stays all action by Nasdaq.

The Nasdaq can grant Sirius XM up to an additional 180 days from the most recent notification of non-compliance (or through September 13th), to comply with the Nasdaq bid price requirement.

A written decision from the Nasdaq isn't expected for up to 45 days following the hearing.

Sirius XM again reiterated that it will "take all necessary steps to maintain the listing of its common stock" on the Nasdaq. And that includes a reverse stock split that the Board is authorized to do.

43 Comments

---Sirius XM again reiterated that it will "take all necessary steps to maintain the listing of its common stock" on the Nasdaq. And that includes a reverse stock split that the Board is authorized to do.----

Misleading statement Ryan. I am really surprised you posted it. The statement in the press release was:

"The board of directors intends to effect the reverse stock split only if it determines the action to be in the best interests of stockholders."

everyone sits around waiting for this stock to do something. I don't think people figured it out yet we are being stroked. More false hope!! Every time you turn around it's a new date for more false hope. The more positive the more it falls, there manipulating this crap people to benefit themselves. Wait til they reverse it then tell me what you have moving forward. Stroked again.

Muscle as we know is always right on the job, putting the best possible spin he can on this train wreck that Sirius/XM has become.

So, Muscle: do you work for Mel, or Sirius/XM in some capacity? Or are you one of the shareholders who's taken a bath on this horrid stock?

It does not matter to me in any case; whether your statement or Ryan's is the more accurate one, a reverse stock split is never a good move. It tends to show weakness in a company (and stock) that is already in a badly-weakened condition.

I too would ask for a stay, were I in Mel's position, but the prospects of pumping up the stock past $1 are mighty thin. Right now, there's more paper on this company than a banana republic; a buyback might be a better course of action.

Of course the real problem is with the improper promotion, the squandering of a valuable, talented staff, and throwing big money at the wrong people (too much to Howard, too much to Oprah, etc.).

Oh, and if the recent figure of Mel's $28 million+ salary is true...there's another one.

I resist the urge to follow other people's comments about sticking a fork in this company; I don't think satellite radio is doomed to extinction, but the times right now require more forward thinking than we are getting from a bunch of FM Radio honks who believe whatever the consultant tells them.

In my opinion, it was the original press release statement that was likely crafted to be misleading, not the Orbitcast story.

You quoted the release as, "The board of directors intends to effect the reverse stock split only if it determines the action to be in the best interests of stockholders." Since avoiding delisting could easily be argued to be "in the best interests of shareholders," this is a meaningless qualifier put there simply to sound reassuring and as an attempt by the company not to reveal what cards it has in its poker hand. A journalist is correct to remove this kind of nebulous corporate-speak from a news article.

Karmazin has made it very clear in the press articles that Sirius will only do a reverse split as last resort in the event of no extension. Every analyst I have read thinks the extension is most likely.

I am very surprised at Ryan's wording.

Fair enough. Personally, I just don't see that the article's wording contradicts that, but people will always interpret things in different ways.

And Mel is an honest man so we should believe him 100%.

Yeah, sure.

Their options are to get an extension and get the stock price over $1 for 30 days or to do a reverse split. I don't see how they are possibly going to get the stock price that high for any length of time, it hasn't been that high since before the merger and there is zero buzz about this dying product. Once they've run out of extensions there will be a split. Mel said it was a last resort. Guess what, they are at the "last resort" point.

Nasdaq needs to do the right thing and drop this turd once and for all. Face it siriusxm is a complete mess, just when you thought xm and sirius were as bad as it could get along comes Mel and his wet dream of extending the life sirius by merging it with the other loser in the satradio industry. Neither have made a dime, and now as one company things are even worse. Nasdaq keeping siriusxm on would not be fair to any other companies listed.

Let's face it, Mel & his minions will do ANYTHING they can do to "snooker" NASDAQ just like they did with the FCC in claiming that the merger/acquisition would be good for subscribers and the satellite radio medium in general. They used a shitload of smoke & mirror tactics to convince the FCC that it would all be a good thing when a number of consumer advocate groups and senators called "bullshit" on Mel's dog & pony show.

HUGE kudos to Senator Kohl(sp?)from Wisconsin who had the balls to call it like he saw it, not like "guttless" Jim DeMint of SC.

If NASDAQ has any balls at all they should tell Mel & Co. to take a hike. Mel & Co. have had their chance to make a go of satellite radio and have run it into the ground. It's time for those shylocks to face the music and get booted.

I'll give Mel credit for one thing, he is a master of "the shell game" and he will pull a fast one quicker than you can say "SiriusFM"

As of 3/29 @ 12:44 central time: SIRI 0.8511 down 0.009. Its starting to look like the last resort Mel.

And Mel is an honest man so we should believe him 100%.

Yeah, sure.

still no baseball on SIRIUS

Must be slow news from SiriusXM

Wow, there is just nothing going on in Sat Radio huh?

See, this is the reason they need a retail presence. If for no other reason than to announce new, cool products. To innovate and get people excited. For the public to see a cool gadget at Best Buy and remember SiriusXM exists.

We are the converted and no one is posting, no one cares, most of us dislike what has happened to our service since the merger. Most of us pay more or have cancelled radios.

They really need to do something. I don't know how anyone can come to orbitcast, see the lack of any excitement in a place that used to be brimming with it and seriously buy into this company surviving much less thriving.

Remember when we would look forward to CES and then comment about all the great new radios coming out while complaining that Ryan couldn't post the pictures fast enough? Now the big announcements are jamming old radios in used cars. Great.

BTW xcountry, I agree with you regarding the stock spilt. But then, I agree with you on all your postings and I think we listen to completely different things. I can't understand how any rational person can argue that this company is doing well and has a bright future ahead.

"I can't understand how any rational person can argue that this company is doing well and has a bright future ahead."

$450 mil + in 2009 EBITDA plus 20% projected growth this year speaks volumes.

I sure hope they can get Howard on the cellphone app as part of the next contract.

Thanks for the comments, pfreak.

Muscle13, I'm certainly no business analyst, and if this company is rearranging its finances so its financial picture will improve, that's great. And, as I've said before, I don't want any company to go belly up in this economy and result in people losing their jobs.

But, it seems to me that much of this new found revenue may be due to the tricks they're pulling to wring more money out of existing customers (raising prices, charging customers fees to change to a different radio, etc.), and in the long run I believe this will do more harm than good.

Do you really think Stern on cell phones would be that big of a blockbuster? They've played the Stern card to the point that it's dog-eared, and putting him on cell phones seems gimmicky, anyhow, since there aren't that many people listening that way. How about just returning to the quality channels that made me sign up to begin with? In the end, that's what's going to determine their success.

xcountry,

I agree.

I remember when I first signed up with Sirius, they gave me a password so I could listen on the internet for free. I though that was cool of them. It made me like Sirius more, and it made me want to spend more of my money on their products. That's what goodwill can do.

Now they charge me for that cool little service and it's having the opposite effect.

Wake up Mel.

Let's face it, as much as any of us might love satellite radio it's a transitional technology.

When I got my first Sirius radio in 2004, it was a godsend. I then bought an XM radio (Roady2) in 2005 so I could have MLB in the car. Then I decided I wanted it wherever I went so I bought a MyFi that summer. Thought the Inno was awesome so I bought one of the first that came out in April 2006.

Now my iPhone does most of the things satrad does (hell, I can even watch MLB on it), and this and any other way to get internet connectivity to the car is going to eventually make it obsolete.

I'm not sure what new features XM Sirius could come up with for hardware that would make it compelling these days.

xcountry-

I have been saying for years the ultimate distribution model for sat radio will be cars, cellphones, and internet. They have deals with ALL the carmakers. I like their internet offering. They are on the iPhone and Blackberrys. The one thing I see missing is Stern on those apps.

I happen to believe their content is head and shoulders above anything else available. I don't even believe anybody else comes close.

240 million cars, 275 million cellphones, who knows how many pcs??? For $2.99 the cellphone/internet offering should be an excellent add-on to the car offering.

I see zero obstacles.

In reply to your comment that the current content is head and shoulders above anything else, I just can't agree. I believe that Sirius's music channels not only don't break any new ground, but don't even innovate as much as many of the better terrestrial stations. Yeah, it's commercial-free -- that's why I keep one radio activated. I get the argument that not everyone is like me or wants what I want, and I also know that it's basically pointless to argue something that's purely a matter of taste, but I think there are a fair number of people, not only on boards like this, but also in the media at large, who do not feel that the post-merger changes to programming have been positive.

You could be right about the internet, cell phones, etc. being the distribution model for satellite radio in the future. But, if this is true, what are they waiting for? There are thousands of webcasters operating with skeleton staffs and little money who are developing great programming. And, this is the competition the Goliaths like Sirius XM face online: A bunch of Davids who can respond more quickly to trends and make radio personal and relevant again. Yet, all Sirius XM continues to do online is provide an abbreviated version of its dull, corporate, uninspired satellite-delivered channel lineup, and then it has the gall to charge for what's available lots of places online for free. Given this company's presumed broadcasting expertise, why are there not hundreds of Sirius XM online-only channels?

xcountry - cellphone/internet is an add-on. It is supplemental. A great addition but an ADDITION! My fav.

The meat and potatoes for sat radio, and all radio since the beginning of radio's existence, has and always will be the cars on the road.

Sirius has deals with all of them. It may not excite anyone here that Sirius is built in to 60%+ of all new cars now. But those 240 mil cars are the business.

No one was more of a fan of satellite radio than I was. Few held as many shares (of XM) as I did. Virtually no one devoted as much time to listening, analyzing, discussing satellite radio as I did.

But I'm afraid that I must agree with Xcountry. Satellite radio's time has come -- and largely gone.

Yes, I still have a few subscriptions. Yes, I still listen from time to time. Yes, new car owners will continue subscribing (even as existing subscribers churn out).

But, think about it:

- Satellite radio has fallen off the chart when it comes to discussions of the media and of worthy investments.

- Walk into a Best Buy and try to find the Siri/XM displays. Then, think about what it was like just a few years ago.

- There is simply no denying that the music content has been dumbed down since the merger. You can find examples anywhere, but I'll cite just one: Management insisted that the 60s station cease playing the Beatles at the top of every hour (no more Beatles bell) and it slowly has been turning the 60s sound architecture into a bland, modern radio sound. Why would any sentient radio person do that to a station devoted to 60s music and the 60s sound of rock radio? What good could that possible do?

- The company is saddled by enormous debt and drowning in billions of shares of stock. A reverse split is inevitable, but it won't help for long. The stock will sink again after the R/S.

- Even this website is a leading indicator of the drift. Days and weeks go by without a post by its owner or comments by its few remaining readers. And the vast majority of recent posts have consisted of nothing but warmed over Siri press releases.

I take no pleasure in writing this. Satellite radio had an incredibly bright future, but it and its listeners and its employees were submarined by managements (at both companies) that were incredibly short-sighted, incompetent and, in the end, greedy.
-

You are absolutely correct in your assessment of Sirius/XM's music programming. In this country, when a service or product goes from good to bad, or from a good value to a rip off, people more often than not just accept it - chalking it up with the slogan "That's the way it is." Literally everything in the supermarket has been steadily downsized for years. Take a look at a carton of ice cream these days; the 1/2 gallon container of ice cream, which hadn't changed in size for at least the past 60 years, is now 25% smaller. Take a look at everything - we are getting fleeced by virtually every company in this country, including Sirius/XM. They adhere to the same philosophy as every other corporation these days; constantly offer less, while continuously raising prices. They know that 99.9% of the people will passively accept it, and not make any waves. When I mentioned to a roomful of people that ice cream had been drastically downsized, the group of 10 people looked at me incredulously. None were the leasy bit aware of what amounts to a massive price increase. This is the premise under which these corporations operate. They know that most people are clueless, and have an attention span and awareness level of a toddler. Sirius/XM offers less for more, under the pretense that their music programming is "world class", and "the best radio on radio." The fact of the matter is that it isn't. There are a lot of channels, and a lot of genres, but when you consider the shortened playlists, the repetition of songs, the similarity to terrestrial radio (for a charge!), and the chatty, talk over the music DJ's.... it dawns on anyone with any standards at all that they have turned satellite radio into a fiasco.

As much as I can't stand most terrestrial radio, I will admit that there are random stations that put satellite radios offerings to shame, from a programming standpoint. I like jazz, and can find literally dozens and dozens of jazz stations online. For FREE! Sirius/XM has one legitimate jazz channel, but had three pre merger. The management does not take music, or music programming seriously in the least, and it is a shame - and totally pathetic. They have made the decision to play it safe, and try to appeal to the clueless, near iliterate masses that love to hear their favorite 40 songs on continuous loop. Creativity and innovation evidently are taboo in the culture that Mel and his cronies have fostered. I don't even bother to listen to Sirius online; the selection I can get on i-tunes radio is far more extensive.

This company is completely delusional, and the day of reckoning is fast approaching. You can't just claim great programming; you have to back up the claim by PROVIDING IT!!! They are basically bullshitting every subscriber, and it's about time the subscribers stop accepting less for more. If they are going to dumb down, dilute, and make the conscious decision to offer an inferior product, then the least they can do is charge people less to listen to such crap. Hell will freeze over before that happens.

"They have made the decision to play it safe, and try to appeal to the clueless, near illiterate masses that love to hear their favorite 40 songs on continuous loop."

They have and while the illiterate masses will like the dumbed down appeal of Sirius, the company has made a critical mistake. The illiterate masses will not pay for it.

Pfreak, exactly. Lowest-common denominator programming doesn't even work that well for free radio anymore, as evidenced by the poor financial performance of so many terrestrial broadcasting companies, so I don't see how this approach will work better with customers who expect to get "premium programming" because they're paying for it.

Muscle13, right, satellite radio equipment penetration in the auto market is impressive, but to me that has an ominous side: Up until the past year or so, they've achieved growth of this medium largely due to the increasing number of cars with manufacturer-installed satellite radios, but growth from that is going to level off because just about every new vehicle model that's going to have satellite radio already does. Further, compare the large number of OEM radios to the current satellite radio subscription numbers and it's clear that most radios are not activated. Given this, their focus must now shift toward getting these non-activated radios activated, and I'd suggest that better programming would be the best way to do that.

xcountry - 240 million cars on the road. They are just now hitting the used car market with the OEMs they installed 4-5 years ago in new cars. It's a larger market than new cars.

The company is basically the cable TV of radio. It will most likely be even more successful than cable ever was and cable happens to be the biggest success story in media business history.

I love to read naysayers, because without you guys there is no upside for the company.

redhot47fl: Your comments are exactly my sentiments.

I just don't get why.

Take the 60's example. It doesn't cost anything extra to play a Beatles song at the top of the hour and ring the bell. Big playlists don't cost more than small playlists. It doesn't seem like the gutting of the 60's (and 50's) channel was done for any good (economic) reason. This just can't be anyone's idea of a good thing. Nobody is that bad at programming....there must be some be some reason but it sure beats the h*ll out of me what it is!

Yes, the increased emphasis on used cars is important now that there are more second- and third-owner cars out there with OEM satellite radio. However, the real issue isn't new or used, but number of cars with satellite radios installed versus number activated. It really does not matter whether the car was bought new or used. Moreover, new car buyers are their best market, for these people have the most disposable income. Some used car buyers sign up, but there's no major growth spurt brewing -- OEM satellite radio-equipped cars have been slowly filtering into the used market for years, and satellite radio growth remains unimpressive.

I don't see much of a parallel between Sirius XM and cable TV because cable TV is a delivery system for widely divergent programming from many sources, while satellite radio is programmed by one company, which is a management model that stifles the development of innovative programming.

Pinball Wizard's comments are very similar to my sentiments on this. Better programming wouldn't cost more, and could even be a money saver. But, this company stubbornly refuses to give its devoted customers what they want, so they continue to leave. They're betting, apparently, that there is a big group of non-subscribers who are just waiting for the playlists to get repetitive enough and for satellite radio to so closely approximate the worst of terrestrial radio that they just will no longer be able to resist paying for radio. Seems like a dumb gamble to me.

And while car installs have been ramping up for a few years now, why does the company not recognize the 200 million+ American households that may want their service. This is going back to the poor retail presence. I know of only a couple of people that even have SiriusXM but know no one that has it in their home. What exactly is the reason for completely ignoring this market? I don't get it.

Muscle -
Your basically talking to XM'ers who are almost soley focused on the music. If it wasn't for IPOD's and internet radio, Sirius and XM would not have spent the $ they had on other content. Competition pushed them in this direction and the most severe competition between themselves. Neither company would have survived unless the other one went bankrupt or they merge. There was no guarantee that if Sirius or XM went under that the other would have gotten their assets.

Now they way overspent and we know why, but there is no competition with the overall content they own and they continue to improve by the addition of MSNBC.

They have reneg many contracts already and will continue when it comes to NFL, Howard & MLB for less $ and increased exposure.

Music may have been and could have been the primary reason people went for this service, but the model has changed. I believe they will continue to improve the overall experience as time goes by and they finish theactual merger and put the debt wall in 2013 to bed. 1 more XM sateliite to go up, 1 more Sirius next year and we're done for at least 7 years.

Management is doing everything right for the shareholders dealing with the economic collapse and what the FCC put them through.

There is a huge future for Sirius XM radio and the satellite delivery is more valuable than ever after the ruling that came out the other day that Brandon from Satwaves wrote about. Pandora will be dead in a few years and royalties should be coming to Terrestrial to finish them off.

Sirius future is brighter than ever. Wait till they light up the 50 - 70 million cars in a few years for a discounted package, then dangle the upgraded service after 6 months. There is another big leg of growth not built into analysts projections right now.

Their internet offering blows any other service out of the water , even without Howard.

This company is going to be a Cash Cow & has 8 or 10 billion net loss carryover to offset the profits that are now coming our way.

And to say there is any other service you can get for this bargain of a monthly payment is ludicrous.

I agree, the monthly payment (for one radio) is not high. I'd gladly pay more for a better service. Your comment that Sirius XM's internet service "blows any other service out of the water," which I, not unexpectedly, do not agree with, may miss the point, because while Sirius XM does have one of the larger aggregations of channels in its offering, what it's really competing with online are tens of thousands of channels set up by many independent webcasters.

I don't have money to invest in stocks, but I do have enough to pay the fee for satellite radio, and the success of your company depends on keeping people like me around. So, I think when you say management is making all the right decisions for investors despite widespread unrest among customers, it strikes me as an odd viewpoint. But, I'm just one person, and there are apparently millions of others out there waiting to spend money on this compelling product as soon as they tweak the last vestiges of originality out of it.

Xcountry
In 2 years most of your so called independants will be out of businessbecause they don't have a business.

Name 1 service and the content they have that can match up anywhere near the service of sirius or XM online.

Nobody has the $ to pay for any content and if they have music that you feel is better well great but they now have to pay royalties and will soon be strangled by the service providers charging them for hogging bandwidth.

Most will be out of business or be charging on top of their advertising and then Sirius XM is the obvious easy choice.

Also keep in mind that close to 50% of people who are lucky enough to get the service on a trial basis keep it. What other product can you think of with this type of take rate ?

It is just difficult for people to get used to the concept of paying for radio right now and without having the service you can't appreciate it.This will slowly change, especially when free won't last and choices other than NAB radio will be folding or Sirius could gobble them up in a few years.

I know you have it and you are kind of negative towards it likely because you feel the music has been dumbed down since Sirius took over, but cancel your service and you'll be lost. I'm sure you listen to some news, politics, sports, comedy or other content and I bet that is what really keeps you.

Think about it.

Your comments are reasonable, but they don't entirely square with what I have heard about the latest court ruling enabling internet providers to charge content providers for bandwidth. To begin, a lot of people think this might not actually happen for a variety of reasons, perhaps most importantly that it would make America even more behind the rest of the world than we already are in providing low-cost, high-speed internet access. But, more importantly, 3G and other "mobile broadband" has never been covered by prohibitions from charging for bandwidth, or restricting access to certain services, and since this type of service is important if they're going to expand into the cell phone arena more extensively, it represents a problem, or perhaps does not, for Sirius XM just as it does or doesn't for it competitors.

Just one other thing. I do get your point about the other services besides music, but, no, I'm not lost without Sirius XM. I do believe the content has been "dumbed down," as do many others, and I listen less and less. But, as you said earlier, for $15 or so for one radio, it's not a big investment to keep my foot in the door. I used to have four radios, but they apparently didn't want that much of my money anymore, so they stupidly took away most of the programming I and over half of their other customers signed up to get. That doesn't seem like smart management to me, but, again, I'm just one customer.

I have been listening to Sirius inside the house for over 4 years. Only a fraction of my listening is done in the car; a car dock, and a home dock - jacked into my stereo - lets me listen all day long, and enables me to catch up on the Stern show throughout the day. I much prefer the options that a plug/dock & play radio provides - mutiple listening locations, without a second subscription. I guess this just makes too much sense, logically and financially, to appeal to most people. It just proves to me how stupid and oblivious the public is. Just based on bang for the buck, and the intrinsic versatility of a plug & play radio.... there is no reason why they shouldn't be flying off the shelves. Common sense is a rare commodity these days. Of course these ideas are not promoted/marketed AT ALL, so retail languishes like a beached whale. This company gets exactly what they deserve in many respects.

I personally prefer the plug-n-play myself as it has many more features than an OEM. I miss having tune select and pausing the radio (XpressRC), but I didn't want to pay for two devices for one vehicle when I got my new car and I didn't want to fool with installing. Home use was spotty for various reasons and I don't listen to the radio that much, if at all, when I am home. The positive about OEM is not having to run wires and the installation is very clean, but it lacks so many features of a plug and play. Most people that get SatRad in their vehicles probably have no idea what is lacking on their units.

This reply is to Ranger, too.

I agree. I've never owned a car with an OEM radio, and at one time had four retail modules activated (a SkyFi3, SkyFi2, and two Roady XTs).

Trouble with OEM from the company's standpoint is that many of the people who buy new cars really don't care about satellite radio. Proof of that is in the numbers: Sirius XM does have an initial "take" rate of just under 50 percent, but the subscribers wander off after that, because there are fewer than 20 million subscribers in what has been said to be 240 million cars with OEM satellite radio -- 1 car in 12, or about 8 percent. If somebody goes and buys a retail radio, they want the service. But, as it turns out, the service apparently doesn't want us.

My cousin, who typifies the type of person you alluded to, is a case in point. He got a 3 month trial (XM) when he bought his Accord a year and a half ago. He barely listened to the free trial, has never re-subscribed, and could not care any less about satellite radio if his pathetic life depended on it. I have tried, in vain, to persuade him to become a subscriber again, but I would have better luck talking to a rock. He is part of a group, larger than most people could imagine, that just don't give a damn about satellite radio. The moron won't even listen to it if it's free! Unless, or until his car changes hands, that radio is nothing but a dash board paper weight, serving no purpose whatsoever.

You can't reason with some people, especially ignoramuses like my lazy, imbecilic cousin. He claims to love music, but the shit head refuses to listen to it. The guy just flat out sucks.

I doubt that I will ever have an OEM installed radio; it's a compromise as far as I'm concerned - unless you never listen in the house - or don't mind multiple subs. Your last line nails it; this is a service that has never embraced their very own customers, and it is another example of them being aloof, arrogant, and the single biggest detriment to satellite radio; THEMSELVES!

Steve O,
I have to say that I get the biggest laughs when you talk about members of your family, cousins and friends. LMAO !

You know, I would really like to share in your optimism about how great Sirius/XM is going to be years down the road. My question is: what's the timetable?

How many years before all these wonderful things happen...and is there going to be a company to provide all this by then?

The latest word appears to be encouraging, especially for investors who have lost their shirts and those who got in when the stock was nearly worthless; again, we've heard a lot of talk about how Mel and his people shuffle the numbers.

The thing is: let's suppose all this happens, and Sirius/XM is so available...are people going to pay for something (even in a recovering economy), when they can get a facsimilie thereof for nothing by just punching up the FM?

This goes back to what X-Country, SteveO, Ronbo and a number of like minded folks such as myself have been saying: after XM was gutted by Mel and his hatchet men, the quality of most of the music channels has been piss-poor. It is like listening to FM radio all over again, and I used to work in it, so I know what I'm talking about.

I was trained on that style of radio, ie, talking over the intros, hitting the post, etc. Back then it sounded good, and it made listeners think you knew what you were doing.

Again, times change; I now look back on that period and wonder WTF I was thinking...but that was the trend, and I had a job to do.

From reading other posts, I think the main feeling is that a lot of us just miss the unique world that XM primarily opened up for us all. That's been throttled, taken out back and shot.

What exists today could be made better and improved; my doubts are that Mel will spend much time thinking about these things, as it's clear it's all about the bottom line (his, Howard's and the others around the corporate table).

I've heard of some crazy bonus packages in my time, but the money Mel, Greenstein and some of these other characters allegedly pulled in last year, while the company is still not anywhere near solvency was obscene.

I'm glad you got a kick out of it, but I am basically just telling the truth, with virtually no embellishment. A case of truth being stranger than fiction!
My family members, and relatives, are some of the most dysfunctional misfits on this planet. None of them contribute a damn thing to society, most of them are complete hypocrites, and none of them listen to or care about satellite radio. I can excuse them for being human waste products, but there is no excuse for listening to terrestrial radio, acting like typical white trash slobs, or driving Chryslers. I would love to find out that I was adopted, because if I really am a blood relative to any of these fools, I think I will vomit!

Sirius/XM needs to come out with some kick ass radios, with innovative features, and designs that create some excitment in the retail sector. At the very least, they could try to come up with store displays that don't look like they're made out of paper- mache' and cardboard. I've seen better displays in dollar stores; instead of an atractive display that draws attention to the product, Sirius/XM's displays are so horrible.... looking at a nude poster of Richard Simmons would be a more pleasant alternative! I've never seen a worse presentation of a product in my entire life. This has been a problem for years, and Sirius/XM managements heads are so far up their asses, to this day they are completely oblivious to the problem. I have never seen such a cluster fuck in all my years, and to think that a smidgeon of common sense could resolve most of this companies problems is maddening. The people who run this outfit are as defiant as they are incompetent, and when you add the fact that they never listen to one word the subscribers suggest, it becomes painfully aware why satellite radio has prospered at the rate of molasses.

It's pretty clear to me that Muscle13 is either: 1) a stroke for Mel and Howard, 2) a car dealer, or 3) a trader in Sirius/XM stock, and is looking for anything to help paint a nice, rosy picture of all this.

I'm sorry M13, but a dollar stock is nothing compared to what the price of the pre-merged companies' stocks once was.

Mel and the others can talk all they want about how wonderful things are looking, the economy is rebounding, all that happy you know what.

The idea of getting the radio in the cars is one thing, but just getting the service into vehicles, and adding an application here and there does not answer the question of whether or not subscribers will stay on board.

Some interesting points have been made: satellite radio is one of those curiosities, and neither company did well to explain to the world what satrad really was, and is.

The music channels (when they were better than what they mostly are now) were never properly pushed or explained to a give-it-to-me-now, instant gratification nation. That should have been a no-brainer: satellite radio, hundreds of channels, any kind of music, talk, sports that you could want...what could be better than this?
Right?

Well, they missed the boat, both Sirius and XM; now what do we have? Corporate radio from 30 years ago, consultants and tin-eared suits dictating the same playlists they do to 99.9% of the terrestrial radio stations in this country. Same old, same old, and now more of the same.

Yanking money away from valued employees and wiping entired departments out of existance, then shifting the bullion to the likes of Howard, Oprah Winfrey, Chris Russo and others does not help the bottom line, either. So you have a lumbering monster, breaking down from its top-heavy nature (look at the money Mel and the others are taking from a company that is not anywhere near the shape to be able to afford it), and it's slowly going down like the Andrea Doria.

My points: the need not only to push availability, but content. The content is not different enough to make people want to buy and subscribe; while there will be those who hang on, and those who will take what they can get, you still leave a lot of others behind, and those who will never know (or care) about the medium.

Promise unfulfilled; pure and simple.

(By the way: I don't trade in the stock market, and I only have heard negative things about day traders. What proof do we have that day traders are pumping up this stock, and what consequences does that have in the long run? Someone with experience, please speak.)

Wow! Sounds like others have had the same results I have with the Sirius/XM. I pinned this several months ago to XM listenercare and got the company 'sorry you feel this way' reply.

'I do not want to renew my XM subscription upon its current expiration date (approximately Feb. 8. 2010). My account number is X-XXXXXXXXX and the radio ID# is XXXXXXXX. Do not under any circumstances charge my credit card for another year of service.

I have been a loyal customer since Feb. 2006. However, I am discontinuing my subscription due to the high cost of renewal with fewer stations than previous years and loss of online listening without additional charges. Also, the stations I listen to most (originally 100% music) now have DJs to tell me what I'm listening to. What's the purpose my radio's display if someone is being paid to tell me what's playing? Maybe your cost would be lower if you did not use DJs on a 100% music stations.

Furthermore, I have purchase two cars in the last 9 months that have prepaid XM on one and Sirius on the other. Here are the radio IDs XM ID# XXXXXXXX and Sirius ID# XXXXXXXXXXXX. Talking with customer service the other day, I was informed that my discounts would be only about $20 on the additional XM radio and I would need to pay full price for the Sirius radio as subscriptions are handled separately. That's rather interesting considering the fact that XM and Sirius merged recently. I will not be renewing the subscriptions on the cars when the current subscriptions lapse.

It really saddens me to see a very good commercial idea which has proven itself in the market place driven into the ground by poor management and ultimately losing contact with the desire and needs of the customer.'