Sirius XM about go bankrupt

http://www.reuters.com/article/bondsNews/idUSN1247896120090212

Sirius XM is in big trouble. As a subscriber, I’m worried. I fault Howard Stern. Here’s a company losing a ton of money and they pay this guy a half BILLION dollars for a contract. (I don’t really fault Howard but the myopic management team that gave him the bucks.)

Why the FCC let them merge, I’ll never know. They agreed as a condition to merger to not raise their rates, but they’ve effectively done so. They’ve tried to cut costs. The world is, apparently, not ready for satellite radio. Oh, and Sirius charges for listening online where XM let you do it for free. Another “bonus” from the merger. Pay more, get less, and the company still fails.

I wonder if they’ll ask for bailout money too.

Shout out to A: cheer up. Really.

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