Invest Intelligence When It Realy Matters
Sirius Satellite: Seriously Down, and Going Lower
It’s a bit funny to see that the SIRI stock pumpers are still at it, despite facing nothing but absolute humiliation after making ridiculous claims and clinging onto their delusions of grandeur as the stock collapsed by over 95% after merger with XM.
In the end, the stock price says it all. Since the dotcom bubble collapsed, reality has set in. SIRI has done nothing but fall; with good reason. The company has been very poorly run. It’s had a terrible strategy, ridiculous payouts for content and unbelievably ridiculous payouts to executives. The management has been horrendous from day one and remains so.
As you will recall, these pumpers (and their brainwashed cheerleaders who happened to be stuck in the stock) were thinking the merger would be great and the price would soar.
I suggest two things to the sheep that have clung onto the propaganda.
First, beef up your memory so you can recall what these guys were saying before. You might want to read their archives.
Second, check the track record of every person before you bother to listen (or read) to what they have to say.
I won’t waste anyone’s time (including my own) making a case for why SIRI is one of the worst managed companies I have seen in many years. Instead, I will point you to a couple of pieces I wrote on SIRI while back so you can be reminded of the truth. See here and here.