During my hour long commute home last night, I was reminded exactly why terrestrial radio is dead.1. Playlists as long as my pinky. At one time three of the six stations on my presets were simultaneously torturing their listeners with something from Nickleback.
2. Commercials. Sadly I had to listen to some mortgage company hype home equity by "refinancing into a variable rate loan now, then refinancing again when rates go down!" Sounds like a great plan.
3. DJs. Locally the scene is exceedingly poor. Just spin the records, dude. I'll take crackly monoaural AM over the FM drivel.
January 1, 2006 is my independence day. Goodbye, irrelevant radio. Goodbye, CD changer. Hello, future of free speech.
The author owns shares of Sirius Satellite Radio, Inc. (SIRI). Why don't you?
This statement was taken out of the 10-Q, and is the main reason not to invest in SIRI. Not to mention, that they don't expect to be profitable until the fourth quarter of 2006...Yikes!
ReplyDelete"We have incurred operating losses since inception and expect to continue to incur operating losses until the number of our
subscribers increases substantially and we develop cash flows sufficient to cover our operating costs. We also have significant
commitments over the next several years, including subsidies and distribution costs, programming costs, repayment of long-term debt
and lease payments, as further described under the heading Contractual Cash Commitments. Our ability to become profitable also
depends upon other factors identified under the heading Liquidity and Capital Resources."
Those subsidies that they mention in the above statement are payouts to the auto makers to have their equipment installed in their new vehicles...so Siri sales are somewhat depending on the American auto market...and holiday sales...double yikes!
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