SiriusXM Falling Towards Earth, Karmazin Swears Sky isn’t Falling

As you can imagine, keeping track of everything going on in the business world is pretty time consuming. It even gets pretty boring. But some companies are fun to write about. I used to like writing about SiriusXM but now, every time I think about this complete abomination of a radio company I get a little bit of throw up in my throat. I noticed yesterday that the stock is trading at about $.50 a share, which is up 50% from current lows.

Now, I am saying to myself WTF?

How does a monopolistic organization continue to lose revenue, market share, and vaule? How can you have an entire industry helping you sell your product and you still can’t make a go of it? I am really getting tired of Karmazin’s “everything is great, drink the fucking Kool-Aid you bitches” speech. You have a responsibility to your shareholders Mel and you are grossly underachieving.

I read your projections, 6 million cars throws off $300M in revenue, that’s great, if you weren’t paying Stern $500M you would be OK. By the way, how’s he doin’ for ya? He has kind of lost his relevancy now that there are more people reading this blog than listing to him….ok, sorry, got pretty full of myself there. Anyway, let’s go Mel, stop telling me how great things can be and let’s start executing. You are sitting on an untapped pot of gold and you are shitting the money bed! I love that line!