(Credit:
Steve Guttenberg)
No matter how you look at it, Sirius XM Satellite Radio is in sad shape. The stock has been stuck around 11 cents for months, and now there's talk about bankruptcy.
I don't get it, the satellite company claims 19 million subscribers, and if they were paying the same rate as I do, $12.95 a month, that works out to close to $3 billion a year in income. They also have ads on all the nonmusic channels, which have to be generating income as well. Oh, wouldn't you think the ads on Howard Stern's show make a load of dough for Sirius XM?
I've heard that EchoStar, a maker of TV set-top boxes, is trying to take over the company. but Sirius XM is holding tight.
So if Howard Stern loves Sirius XM so much, why doesn't he buy it? If he can't swing it solo, maybe he could team up with other Sirius XM heavyweights like Oprah and Martha Stewart to keep the satellites afloat.
Stern's fans are a rabid group, and they believe Stern is in large part for the company's "success." Hey, if he's not interested in taking over the debt, maybe he could work for free for the duration of his contract. Relieved of the burden of paying Stern's hefty salary would free up capital and keep the company out of bankruptcy. He's already made hundreds of millions of dollars from Sirius; isn't it time to give something back?
Everyday working stiffs are being forced to accept givebacks and pay cuts to help save the companies they work for. Isn't it time that silly rich stars like Stern do the same? If he refuses to work for free, he could at least show up more often--Stern works four days a week--and gets 10 (!) weeks of vacation a year!
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