Market Astrology: Sirius XM Radio

Sirius XM

much like Netflix looks to be heading for the space defined as the event horizon of no return. I wouldn't count them out completely however, because this is a soap opera and as we know soap opera's can go on forever! The soap opera drama heated up when Mel Karmazin, CEO of Sirius, and a few favored executives received stock options and golden parachutes after a debt restructuring deal with Liberty Media in 2009. The Liberty Media rescue, that saved the company from bankruptcy, was worth $530 million in exchange for 15% interest and 40% equity in the company. The deal did not include controversial radio personality Howard Stern, who takes credit for bringing the company from 700,000 subscribers in 2004 to 20 million today. Stern is suing, complaining he did not get his share. Howard Stern, known for his colorful language, has taken in his words “the horse$@%!” to the airwaves. He is going to make sure everyone knows that he's the doormat now that the company is saved and everyone at the top got paid. The whole event is not...