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02-11-2009, 10:37 AM
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#1
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Montana Master
Join Date: Oct 2007
Location: Hesperia
Posts: 1,321
M.O.C. #7787
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No XM Radio!
XM Radio is planning on filing Chapter 11.
Their stock is down to .06. a share,two years ago it was at 4.00 a share. How sad!
Jack
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02-11-2009, 11:16 AM
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#2
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Montana Master
Join Date: Jul 2004
Location: Manhattan
Posts: 1,144
M.O.C. #1846
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Actually, from what I read last night, it is Sirius XM (they merged last summer as I recall) and now have a very large (180 million plus) loan payment due the end of February. According to the CNN Money article -- EchoStar is looking to purchase them which would keep them in operation.... of course have to wonder if EchoStar will still keep Howard Stern at his 100 million a year contact (saw that last night and about had a heart attack -- )....
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02-11-2009, 11:45 AM
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#3
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Montana Master
Join Date: Nov 2007
Location: Kville
Posts: 2,865
M.O.C. #7871
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They merged okay, I got a notice of a rate increase...even though we have locked in rates for two vehicles.
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02-11-2009, 11:52 AM
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#4
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Montana Master
Join Date: Oct 2007
Location: silver creek
Posts: 1,507
M.O.C. #7770
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I guess the merger wasen't such a good idea afterall. We are in the same boat,mutiple radios and a looming price increase. Also my wife listens thru the internet all day at work for free and they are going to take that away too. Unless,of course you want to pay extra for it.
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02-11-2009, 04:06 PM
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#5
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Montana Master
Join Date: Jul 2007
Location: Dillon KOA
Posts: 1,291
M.O.C. #7445
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Skypilot, move over in that cardiac care unit because I AM HAVING THE BIG ONE after reading your post about Stern's salary. Even if someone enjoyed listening to Howard Stern (each to his own, so that's not a criticism, just a comment), $100 million a year is obscene. Oops--I made a pun, and how perfect, considering the subject.
A thought: Instead of making me get my education degree "so I'd have something to fall back on," maybe my mother should have quit washing my mouth out with soap when I said a bad word. Who knew that bad words would have an audience one day? Then I have been worth $100 million instead of what a public school teacher makes.
Back to Sirius XM--We depend on it for news and entertainment because we can't pick up a single AM or FM station where we live. The mountains block everything except on a handful of rare nights a year, when storm clouds roll in and give us a few minutes of static, interrupted occasionally with an odd word or two. I received a notice of the Sirius XM rate increase (Renew Now!), but with the bankruptcy looming on the horizon, I hesitate to give the sinking ship my cash. Do you think EchoStar will keep satellite radio afloat?
Carolyn
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02-11-2009, 08:30 PM
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#6
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Montana Master
Join Date: Oct 2007
Location: Hesperia
Posts: 1,321
M.O.C. #7787
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02-12-2009, 02:48 AM
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#7
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Montana Fan
Join Date: May 2006
Location: Thornton
Posts: 178
M.O.C. #5799
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We have been XM subscribers for a long time now and really love the service. I hope they can get this worked out. It seems with all the sunk investments in the Sats and land repeaters, plus over 19M subscribers, this should be a business that survives. Hoping for a merger, buyout, or refinance. At 6 cents per share, I picked up 10K shares earlier today. A $600 risk that could have a nice upside if they can work this all out. If not, a small loss compared to the beating our 401K has seen!! I say, toss a few $$ at SIRI and hope for the best!! Tim
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