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Old 01-09-2007, 03:04 PM   #46
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I've been a fan for 23 years now. I've supported Howard in everything he has ever done. I think this is great for him personally and I think that in the end when this deal was written having this number of subscriptions would have looked like a great bargain for the company. That said, I think that this payout is bad for Sirius as a company and bad for individual shareholders in TODAY'S environment.

A couple of things to consider.

Sirius stock has been bleeding off value as its subscriber numbers have increased. Isn't that ordinarily a BAD thing? Why, is it bleeding value? Because of deals like this, and the costs involved in acquiring subscribers through gimmicks such as free radios and free months of service.

Now, say Howard gets a little antsy, and decides he wants to start selling off some of this stock? There very well could be provisions in his contract that preclude such moves for set periods of time... but remember he had a boat load of stock tossed at him when he first started too. I can tell you this, if Howard started cashing in on what is already a diluted stock it would be bad for the small investor and bad for Sirius.

Was Stern worth the $500 million... yeah, absolutely.

Is he worth $600 million plus (considering other advanced payments he has received), maybe not. $100 million when you're just trying to survive is a lot of dough.

In short after reading this a few things became clear. Now I know why Karmazin keeps floating the merger balloon (and believe me, it's him). It's also become apparent why Stern was so apprehensive about how many people were following him over and why he made the comments he did about wondering why the cheapskates weren't coming.

The show is better than ever and I am enjoying it... but as it comes time to renew, I wonder if I won't try to get my rates bumped down in order that they keep me. Hey, it's just business, right?
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Old 01-09-2007, 03:22 PM   #47
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Quote:
Originally Posted by Die_LaMattres
I'm not a Sirius investor, but I believe some members that post here are. I'm not making up the loss numbers, look them up. If a company I purchased stock in takes a dive, so be it - that's the risk of investment. However, if a company is at an almost 50% stock loss level and one person gets a balloon payment such as this one, to be honest, I'd be upset.
I agree this thread belongs in this forum. But I agree with the thread starter. when you keep seeing the outrageous bonuses that they keep paying howard, you sometimes gotta think that sirius may have sold their soul just to get the "exclusive" talent in howard. I mean its crazy for a company that hasn't even come close to turning a profit, to have to keep making these kind of payouts to one person. I mean, if howard were really so behind sirius, why did he immediately sell his stock last year instead of holding onto it until the company started turning a profit? I mean its not like he didn't have the $500 million deal to fall back on. Thats just my thoughts on it. Howard loves to say it's not about money, but when it really comes down to it, it is. I just wish he would admit that.
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Old 01-09-2007, 03:26 PM   #48
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Quote:
Originally Posted by beaniemac
I agree this thread belongs in this forum. But I agree with the thread starter. when you keep seeing the outrageous bonuses that they keep paying howard, you sometimes gotta think that sirius may have sold their soul just to get the "exclusive" talent in howard. I mean its crazy for a company that hasn't even come close to turning a profit, to have to keep making these kind of payouts to one person. I mean, if howard were really so behind sirius, why did he immediately sell his stock last year instead of holding onto it until the company started turning a profit? I mean its not like he didn't have the $500 million deal to fall back on. Thats just my thoughts on it. Howard loves to say it's not about money, but when it really comes down to it, it is. I just wish he would admit that.

Your problem is that you have just completely made up reality and that's where the problem is. Sirius didn't fill a trash bag with 500mill in cash and give it to him. He didn't sell all his stock off to fill the rest of the trash bags in the box.

Please, reread what has been posted. HE HAS TO PAY CAPITAL GAINS TAXES ON THOSE SHARES. IT MAKES SENSE TO SELL OFF ENOUGH TO PAY THAT.
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Old 01-09-2007, 03:33 PM   #49
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Quote:
Originally Posted by beaniemac
why did he immediately sell his stock last year instead of holding onto it until the company started turning a profit?
He sold his stock? Where did you hear this?
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Old 01-09-2007, 03:37 PM   #50
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He sold some stock to pay his tax bill. Big deal. He will again this time.
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Old 01-09-2007, 04:43 PM   #51
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Quote:
Originally Posted by usiphi203
I disagree with you, but what's new.
It doesn't belong here or on the Street Forum..it belongs on the "Who Gives A Shit" Forum!
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Old 01-09-2007, 05:03 PM   #52
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Quote:
Originally Posted by VinnyM27
It doesn't belong here or on the Street Forum..it belongs on the "Who Gives A Shit" Forum!
If you happen to like Sirius and the freedom of speech/commercial free aspects of the service then I think you "give a shit" about this kind of stuff. I would hate to see satellite radio fail and find myself having to worry about my choices being limited because some bible thumper, or some lousy parent whose kid hears a dirty word (because they are improperly supervised) might have their knickers in a wad and complain to the FCC. This isn't just about Howard.
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Old 01-09-2007, 05:13 PM   #53
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Quote:
Originally Posted by Markz
What is your point?
It's the thing underneth my hat.
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Old 01-09-2007, 06:15 PM   #54
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Quote:
Originally Posted by firsttimer
He sold some stock to pay his tax bill. Big deal. He will again this time.
Oh, he was just refering to that small sale? I thought he was saying that Howard sold everything.
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Old 01-09-2007, 06:54 PM   #55
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One thing is certain amongst all the stock experts and quibbles; there IS a Stern Effect. Does anyone here think Radio Korea or Cousin Brucie or Nascar or Out Q have big bonuses thrown at them when marks are met each quarter or each year? No...you don't see it. When people write that Stern is only responsible for 1.5 million subs I have to think to myself...'then why is he making SOOOOOO much money on top of the stocks he gets'? Because HE is Sirius Satellite Radio.

The problem as I sees it is...well, Sirius is putting all of their collective eggs into one basket. As goes Stern, so goes Sirius. Sirius had better start getting some real talent(besides Howard) into the mix.
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Old 01-09-2007, 06:57 PM   #56
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Quote:
Originally Posted by packie juppet
The problem as I sees it is...well, Sirius is putting all of their collective eggs into one basket. As goes Stern, so goes Sirius. Sirius had better start getting some real talent(besides Howard) into the mix.
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Old 01-09-2007, 07:49 PM   #57
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Well, he was made fun of on Keith Olbermann on Howard's $83m bonus... sooooo, what's next?
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Old 01-09-2007, 07:50 PM   #58
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Quote:
Originally Posted by packie juppet
The problem as I sees it is...well, Sirius is putting all of their collective eggs into one basket. As goes Stern, so goes Sirius. Sirius had better start getting some real talent(besides Howard) into the mix.
Hey, Infinity/Viacom/CBS radio put all their eggs in one basket for years and they did pretty well. Ecept currently it doesn't seem to be a godd idea for CBS because the old basket left and they tried the same thing with a basket full of holes that only manages a 1.6 share in their hometown.

Where exactly did that old basket go again? Seems to have slipped my mind . . .
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Old 01-09-2007, 07:59 PM   #59
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Quote:
Originally Posted by Jgatie
Hey, Infinity/Viacom/CBS radio put all their eggs in one basket for years and they did pretty well. Ecept currently it doesn't seem to be a godd idea for CBS because the old basket left and they tried the same thing with a basket full of holes that only manages a 1.6 share in their hometown.

Where exactly did that old basket go again? Seems to have slipped my mind . . .
Thanks for adding to the point I made.
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Old 01-10-2007, 10:14 PM   #60
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Quote:
Originally Posted by packie juppet
One thing is certain amongst all the stock experts and quibbles; there IS a Stern Effect. Does anyone here think Radio Korea or Cousin Brucie or Nascar or Out Q have big bonuses thrown at them when marks are met each quarter or each year? No...you don't see it. When people write that Stern is only responsible for 1.5 million subs I have to think to myself...'then why is he making SOOOOOO much money on top of the stocks he gets'? Because HE is Sirius Satellite Radio.

The problem as I sees it is...well, Sirius is putting all of their collective eggs into one basket. As goes Stern, so goes Sirius. Sirius had better start getting some real talent(besides Howard) into the mix.
I agree, but how can they do this when they've invested 3/4ths of a billion dollars so far into stern?
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