A bankruptcy filing by Sirius XM would have widespread implications not just for holders of the satellite radio company's debt and shares, but also for millions of listeners and for the celebrities like Howard Stern whose fat paychecks have made it harder for the company to pay its other bills.

The few poor souls who still hold Sirius XM (SIRI) stock may get poorer still. "I'll lose $1 million," says Michael Hartleib, a longtime activist shareholder. "They completely destroyed a perfectly viable company." Shares of the company closed at 11.39¢ on Feb. 10 after The New York Times said the company is preparing for a possible filing for Chapter 11 protection from creditors. Sirius declined to comment on the report.

http://www.businessweek.com/technology/content/feb2009/tc20090210_831883.htm?chan=technology_technology+index+page_top+stories

Yet another company suffers because a couple of idiots on Wall Street decided that selling was a good idea.

XM was great until they merged with Sirius. But overall satellite radio is still better than terrestrial.

Let's just say that if it's between going under or firing the fat paychecks, then can Stern and Martha Stewart and whoever else.

A bankruptcy filing by Sirius XM would have widespread implications not just for holders of the satellite radio company's debt and shares, but also for millions of listeners and for the celebrities like Howard Stern whose fat paychecks have made it harder for the company to pay its other bills.

The few poor souls who still hold Sirius XM (SIRI) stock may get poorer still. "I'll lose $1 million," says Michael Hartleib, a longtime activist shareholder. "They completely destroyed a perfectly viable company." Shares of the company closed at 11.39¢ on Feb. 10 after The New York Times said the company is preparing for a possible filing for Chapter 11 protection from creditors. Sirius declined to comment on the report.

http://www.businessweek.com/technology/content/feb2009/tc20090210_831883.htm?chan=technology_technology+index+page_top+stories


Brian you know and I know there will always be a job waiting for Stern-lol