Posted on 03/01/2007 9:13:38 AM PST by misterrob
The announcement of a proposed merger between Sirius Satellite Radio (SIRI, news, msgs) and its archrival XM Satellite Radio (XMSR, news, msgs) was treated by most of the media this week as if were just another financial event to be studied through the prism of balance-sheet analysis and the federal regulatory approval process.
But the merger plan actually amounts to the death of a dream for investors who came to believe that shares of Sirius -- propelled skyward for a short time by the hiring of snarky talk show host Howard Stern -- would make them rich beyond compare.
For while the merger might ultimately save the company from total oblivion, it is unlikely to save investors from billions of dollars in losses incurred over the past several years or, perhaps more importantly, from a loss of faith in stock ownership.
Millions of people bought Sirius shares at $6 to $8 for their retirement accounts, and rode them down to $3.50, never losing faith in Stern. At this point, they need to face up to the fact that they're screwed. Stern made half a billion. They will make nothing. They can file SIRI stock certificates away under "S" for stupid. They blew it.
(Excerpt) Read more at articles.moneycentral.msn.com ...
"Then again, the richest man in the world once said "650KB of memory is more than enough for personal computing".
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He never said that
DOH! as well. Didn't see this before I posted my original one. Sorry bout that, I'm usually better about things like this.
1. Well 20 million and counting have decided to flee commercial-ridden, tight-formatted terrestrial radio to have over 100 commercial-free stations in virtually any genre and sub-genre they are in the mood for.
I have an iPod too and it is a great complement to satellite radio. I discover new music on commercial-free satellite radio and download it to my iPod.
In five years, satellite radio will have over 100 million subscribers.
Prove it.
How much you want to bet? ;)
Try US 160 from Durango, CO to Flagstaff, AZ some time. The only thing you can get is three Navajo stations.
One of them was complete with a Navajo "top 40"...
Actually I was pulling your leg - I had heard 640 not 650
However according to Wiki even that may be urban legend
It may not be the wave of the future, but it fills a niche for upscale consumers desiring specialized programming.
You need to be more specific. I live in a "Western State" and I have neither cable, satellite TV nor satellite radio. Now if I still lived in Eastern Washington, you would have a point.
Try driving in western states.
Doesn't anyone have CD players anymore?
Heh-heh, not a problem! I've been following these satellite radio threads for quite a while, and just about every one has people chiming in with those inane points. It's almost like the Ann Coulter Rule.
That's funny, coulda swore it worked just fine. Btw, AM & FM are crap.
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