NASCAR, The Movie!
NASCAR On Film Racing Circuit Uses Movies To Make New FansJuly 30, 2006, By SUSAN DUNNE, Courant Staff Writer NASCAR wants you to be a car-racing fan. Its executives want everybody in the country to be car-racing fans. And they've got a dedicated staff working very hard to try to make it happen.For about six years, the National Association for Stock Car Auto Racing Inc. has operated an office in Hollywood, the heart of the entertainment industry, to find ways to entice non-fans into fandom...( MORE) 7/31/2006 10:43:00 PM
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What Cramer Said Tonight On Mad Money
Satellites of Like
Unlike Amazon, there are stocks that do get cheaper as they go down, Cramer said. However, there are few analysts that understand which ones are good and which ones are not. There are analysts that will keep telling people to buy stocks as they sink and to sell when they have bottomed. A perfect example of this is AT&T (T) , he said. Analysts loved this stock when it was in its $30s, $20s and in the teens, whereas Cramer said he despised it. However, when the stock got down to $6, all the analysts turned on it. They decided to hate it after it had plummeted, he said. Meanwhile, AT&T was becoming more valuable compared with all the other companies in its sector as it went down. AT&T was the perfect takeover target at $6, Cramer said. Right now, in real time, the same thing is happening to XM Satellite Radio (XMSR) . Cramer said he hated it while it was in the $30s, $20s and teens, but now it's at $11.60, and he believes that it's not just a buy, but a triple buy. He said he knows for a fact that the stock has bottomed because CIBC analyst Jason Helfstein, who was telling people to buy XM Radio in its $30s, $20s and teens, has cut and run from the stock, at which point anybody who was in the stock on the advice of CIBC sold it. When an analyst who has been consistently wrong about a stock changes his or her mind about it, you should change your mind about it too and do the opposite of what the analyst thinks you should do, Cramer said. At $11.60, XM Radio is now a $3 billion company and is the perfect takeover target, just like AT&T was, he said. XM Radio has some problems with the Federal Trade Commission, but it is a short-term issue, he said. It would cost Sirius Satellite (SIRI) $4 billion to buy XM Radio because the company has $1 billion in debt. But Cramer believes that buying XM Radio would be good for the company because Sirius could have a monopoly in the sector. "Right now there is genuine competition, and it's hurting both companies," he said, adding that the iPod is not a threat, and the companies offer more than just music. The only thing hurting the companies now is competition, he said, adding that he believes XM Radio has hit bottom and could be bought by Sirius here -- and make you some mad money. Link to article: HERE7/31/2006 10:35:00 PM
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Forbes Commentary On Upcoming Sirius Earnings
MediaSirius Preps For Red InkLouis Hau, 07.31.06, 6:30 PM ET ( www.forbes.com) Sirius Satellite Radio has the most famous name in radio, a chief executive who makes headlines whenever he speaks and an ever-increasing customer base. But the combined powers of Howard Stern, Mel Karmazin and 4.7 million subscribers still haven't been enough to defeat Wall Street skeptics, who are increasingly wondering when Sirius and rival XM Satellite will ever make money... Link to full article: HERE7/31/2006 10:25:00 PM
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Sirius Earnings Release And Conference Call Tomorrow
Sirius will release earnings tomorrow morning before the open. The conference call will take place at 8:00 AM. Link to webcast: HERE7/31/2006 04:15:00 PM
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What Cramer Said Today on RealMoney Radio
Cramer said he believes that Sirius Satellite ( SIRI - commentary - Cramer's Take) is a situation where CEO Mel Karmazin seems to have it under control and that Karmazin will take the stock up tomorrow. He said Sirius could go up to $5 over the next few days if Karmazin tells a good story, which Cramer believes he will. Sirius was recently trading at $4.36. Link to article: HERE7/31/2006 04:13:00 PM
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Sirius Earnings Preview By Associated Press
July 31, 2006, 2:33PM Earnings Preview: Sirius Satellite Radio© 2006 The Associated Press NEW YORK — Sirius Satellite Radio Inc. reports second-quarter earnings Tuesday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: With 4.7 million subscribers at the end of June, New York-based Sirius is the second-largest operator in the burgeoning satellite radio sector, trailing XM Satellite Radio Holdings Inc.'s 6.9 million. The company, which generates revenue from flat-rate monthly subscription charges, closed the gap on XM in the second quarter, growing at nearly twice the rate of its larger competitor. Sirius added 600,460 subscribers _ beating analyst expectations for 555,000 _ while XM added a net 398,000. The results come after Sirius, in May, backed projections for more than 6.2 million subscribers by the end of 2006, which would be an increase of 87 percent from 2005. Analysts expect a sharp increase in revenue thanks to the subscriber growth, but they will also be watching to see how much money the company spent to get each new listener, which are costs that have kept Sirius in the red. Much of the company's recent success has been credited to shock jock Howard Stern, who left free radio to join Sirius in January. The company also gets a boost from deals with carmakers to have its radios installed as a standard or optional feature. In April, Sirius signed a deal with Korean carmaker Kia, adding to its pacts with Volkswagen, BMW, Ford and Daimler Chrysler. XM has inked contracts with General Motors, Honda, Toyota, Hyundai and Nissan. Both companies, however, have run into regulatory problems with some radio models designed to operate with standard FM car radios. XM stopped making and shipping certain models, but Sirius said it has taken steps to correct any issues, and that units currently under production comply with Federal Communication Commission standards. However, the company also said it found in an internal review that some of its staff had asked manufacturers to make radio units that didn't comply with FCC rules. In programming news, Sirius signed up Mark Cuban, the founder of Broadcast.com and owner of the Dallas Mavericks professional basketball team, and conservative political commentator Bill Bennett to host separate shows. The company also said it plans to start a channel of Catholic-themed programming with the Archdiocese of New York. Variety and Sirius also reached a deal to do regular radio news reports on the entertainment industry from the magazine's offices in Los Angeles. Sirius also hired Loral Space & Communications to design a new satellite that would improve reception. The bird is expected to cost $260 million and be delivered in 2008. BY THE NUMBERS: Wall Street is expecting the company to post a loss of 15 cents per share, according to a Thomson Financial poll of 29 analysts, which would be wider than the 13-cent loss from a year ago. Analysts expect revenue to nearly triple to $147 million. ANALYST TAKE: Merrill Lynch analyst Laraine Mancini reiterated her "Buy" rating on the stock after Sirius announced its blowout second-quarter subscriber numbers. "In our view, SIRI will continue to benefit in the retail market given its marquee content platform that attracts retail consumers that have a choice of service," she wrote. WHAT'S AHEAD: Sirius subscriber growth has been fueled by the "Howard effect," so analysts will be watching to see how long Stern's impact will last. Sirius could get a boost in late summer when it rolls out its package of National Football League broadcasts, but the final word on the FCC compliance problems is still in the air. Analysts are also likely to ask about comments made in late June by Mel Karmazin, CEO of Sirius, who said he would be interested in Sirius buying XM at the right price but acknowledged that regulatory issues "would be a question mark." STOCK PERFORMANCE: Sirius shares slid 6.3 percent in the period to finish June at $4.75. Its stock is down 38.2 percent year-to-date and hit its 52-week low of $3.60 in May. Link to article: HERE7/31/2006 04:06:00 PM
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Highly Unlikely that FCC Will Recall Satcaster Devices, But The NAB Persists
NAB Asks FCC To Recall Satcaster DevicesJuly 31, 2006 ( www.fmqb.com) NAB President/CEO David Rehr has penned a letter to FCC Chairman Kevin Martin, asking that the Commission recall satellite radio devices that are not compliant with FCC regulations. In his letter, Rehr writes that the "NAB continues to be concerned about the interference caused to free over-the-air radio services by satellite radio devices not in compliance with the Commission’s rules. To ensure that the scope of this problem is not expanded, NAB urges the Commission to take steps to halt the further distribution and sale to consumers of additional satellite radio devices failing to comply with Part 15 of the Commission’s rules." link to full article: HERE7/31/2006 03:57:00 PM
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Analyst Comments Going Into Sirius Earnings Release Tomorrow
Live In Play ( www.briefing.com) 31-Jul-06, 15:11 SIRI Sirius Satellite: Earnings Preview (4.25 +0.11) -Update-
SIRI plans to release 2Q06 earnings tomorrow morning with analysts expecting ($0.15) on revs of $147.04 mln. Barrington Research expects the co to report EPS of ($0.15), matching the consensus mean est. Firm's est had previously been $(0.14) but the added SAC costs associated with the co's success in adding subscribers at a faster-than-anticipated rate had an immediate negative impact on reported EPS. Firm says SIRI's momentum at the retail level appears likely to persist. Morgan Joseph notes the co previously reported net subscribers of 600,460 for the quarter. Based on its subscriber addition trends, firm remains confident that the co's goal of 6.2 mln subscribers and $600 mln in revs by 2006 year-end is achievable. Stanford says that SIRI added over 600,000 net new customers in Q2, beating expectations for 550,000. SIRI added over 200,000 more customers in the period than its competitor XMSR. This should put SIRI on track to reach 6.3 mln subscribers by the end of Y06. Thursday, XMSR reported Q2 results and mentioned market share losses to SIRI, most noticeably in the retail market. Firm believes SIRI should continue its retail dominance entering the 2H06. Firm projects that SIRI will serve 6.3 mln customers by the end of Y06 and 9.3 mln by the end of Y07. 7/31/2006 03:26:00 PM
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Opie & Anthony Take on Chicago
O&A Replace Rover In ChicagoJuly 31, 2006By Mike Boyle, Billboard Monitor "Syndicated morning personalities Gregg “Opie” Hughes and Anthony Cumia will be replacing Shane “Rover” French on CBS talk WCKG (Free FM) beginning Aug. 1.Rover has been on the station for only eight months. He replaced Howard Stern when “The King of All Media” jumped to Sirius Satellite Radio.With this new affiliate, the XM Satellite Radio “Opie & Anthony Show” is now syndicated into 20 terrestrial radio markets via CBS Radio and Citadel Broadcasting. There's also unconfirmed speculation that O&A will be picking up CBS Radio talk KIFR (Free FM), San Francisco, which currently airs Adam Carolla's syndicated morning show.The Chicago Sun-Times says that Rover’s show will continue on his other affiliates, including Cumulus rock WKRK Detroit; Emmis modern rock KPNT St. Louis; CBS Radio’s modern rock WAQZ Cincinnati, rock WAZU Columbus, modern rock WMFS Memphis and modern rock WZNE Rochester; and Nassau Broadcasting rock WPXC Cape Cod. He’ll be based out of his former flagship, CBS Radio modern rock WXRK (92.3 K-Rock) Cleveland..." Link to full article: HERE7/31/2006 12:27:00 PM
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Analyst Comment This Morning: Stifel Reiterates Buy On XMSR
XM Satellite Radio-XMSR stock price more than reflects concerns, reit buy@STFL(theflyonthewall.com 07/31 09:19:36) Stifel believes subscriber guidance is now beatable and that the company has ample cash liquidity. Target lowered to $16 from $20. 7/31/2006 10:36:00 AM
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Sirius Increases It's Presence in the OEM Market With Mitsubishi
Mitsubishi to Make SIRIUS Satellite Radio Standard or Factory Option on All Models in 2007
(PR Newswire 07/31 08:00:44) NEW YORK, and CYPRESS, Calif. Mitsubishi Motors North America and SIRIUS Satellite Radio (Nasdaq: SIRI) today announced that Mitsubishi will offer SIRIUS as a standard feature or factory option on four models this fall, and throughout the entire 2008 Mitsubishi model line, available in the United States next year. This fall, SIRIUS will be standard equipment on the model year 2007 Galant RALLIART, Endeavor SE and all Raider LS and DuroCross double cab pickup trucks. On most other trim levels of the Galant, Endeavor and Raider and on the all-new Outlander, SIRIUS will be available as a factory option. All SIRIUS-equipped vehicles will include a six-month, pre-paid subscription. "Mitsubishi is excited about adding SIRIUS to more of its vehicle lines a sa standard feature or a factory option," said Mike Krebs, Vice President of Product Strategy at Mitsubishi Motors North America. "Our goal is to offer Mitsubishi customers the very best in-vehicle experience possible, and we believe that SIRIUS' unique programming greatly enhances our quality offering." "Mitsubishi has been a great partner in the growth of SIRIUS, and we are very pleased that they have decided to expand the number of vehicle lines offering SIRIUS," said Mel Karmazin, CEO of SIRIUS. "Now, more Mitsubishi drivers will be able to experience for themselves the best programming available on radio."
7/31/2006 08:09:00 AM
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A Stock Fund For Nascar Fans
Sunday, July 30, 2006, Investing, The New York Times Follow Your Bliss, Yes, but Maybe Not Into a Stock FundBy J. ALEX TARQUINIO (link to full article: HERE) "IF you want a broad stock portfolio in a single mutual fund, you might buy a plain-vanilla Standard & Poor’s 500 index fund. But if you’d like something quirkier, with more horsepower and much more torque, you might prefer the StockCar Stocks Index fund. It is the perfect portfolio for Nascar race fans, said Robert T. Carter, the fund’s manager. “That would be the logical target market,” he said. “Many Nascar fans have significant assets. This may be a complement to their existing asset management philosophy." Its core holdings include the two publicly traded car race track owners, Speedway Motorsports, which is based in Concord, N.C., and International Speedway, based in Daytona Beach, Fla. But two stocks wouldn’t be enough to constitute an entire mutual fund, not even an eccentric one. So Mr. Carter rounds out the portfolio with official Nascar sponsors and suppliers. General Electric — the conglomerate based in Fairfield, Conn. — qualifies because it owns NBC, which broadcasts Nascar races. Home Depot, the home improvement chain based in Atlanta, and Kellogg, the cereal maker based in Battle Creek, Mich., are in the fund because they are Nascar sponsors. No one can say precisely how many more cornflakes are served in American kitchens each morning because there’s a picture of a race car on the box. But the Nascar connection constitutes the entire strategy of this mutual fund. Mr. Carter said he did not evaluate the stocks but acted like the passive manager of an index fund, strictly eliminating companies that end their race-car sponsorships and adding companies that take them on. Roy Weitz, the publisher of FundAlarm.com, said he was not surprised that it had outperformed the S.& P. index over long stretches. “The idea that these stocks should be arranged in a portfolio because they support Nascar is sort of an absurd concept, but it appears to be working,” he said. Nascar fans have certainly been loyal — both to their sport and to their fund, which Mr. Carter has managed since its inception in 1998."7/30/2006 11:00:00 PM
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XMSR Files Form S-4 With The SEC, Offer To Exchange Notes
Link to filing: HEREXM SATELLITE RADIO INC. XM SATELLITE RADIO HOLDINGS INC. OFFER TO EXCHANGE $600,000,000 9.75% SENIOR NOTES DUE 2014 AND GUARANTEED BY XM SATELLITE RADIO HOLDINGS INC., XM EQUIPMENT LEASING LLC AND XM RADIO INC. FOR $600,000,000 9.75% SENIOR NOTES DUE 2014 AND GUARANTEED BY XM SATELLITE RADIO HOLDINGS INC., XM EQUIPMENT LEASING LLC AND XM RADIO INC. AND REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED AND OFFER TO EXCHANGE $200,000,000 SENIOR FLOATING RATE NOTES DUE 2013 AND GUARANTEED BY XM SATELLITE RADIO HOLDINGS INC., XM EQUIPMENT LEASING LLC AND XM RADIO INC. FOR $200,000,000 SENIOR FLOATING RATE NOTES DUE 2013 AND GUARANTEED BY XM SATELLITE RADIO HOLDINGS INC., XM EQUIPMENT LEASING LLC AND XM RADIO INC. AND REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED Interest on 9.75% Senior Floating Rate Notes due 2014 payable May 1 and November 1, Commencing November 1, 2006. Interest on Senior Floating Rate Notes due 2013 payable May 1, August 1, November 1 and February 1, Commencing August 1, 2006. 7/28/2006 11:01:00 PM
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Reuters' Analysis of The "Perform Act"
Satellite, traditional radio join in royalty fightBy Sue Zeidler, LOS ANGELES, July 28 (Reuters) - Traditional radio companies and satellite radio broadcasters may be locked in a war for listeners, but the two rivals are united in a battle against the recording industry over royalties. The dispute centers on what radio companies say is a legislative effort by the recording industry to raise royalties and restrict certain recording technologies, which are both at the heart of a multi-billion dollar lawsuit filed against XM Satellite Radio Holdings Inc .
Earlier this month, XM asked a federal judge to throw out the record industry suit that claimed it turned its portable radio, the Pioneer Inno, into a music-download service without paying the higher royalty fees required....
Link to full article: HERE7/28/2006 10:34:00 PM
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HD Radio Kicks Off Marketing Campaign
The High Definition Radio Alliance is trying to get the word out. Since practically no auto manufacturers have signed on for OEM installation (BMW is the exception), potential purchasers will have to browse the aisles at retailers, which I think will utimately increase awareness and drive consumers to chose satellite radio. HD Radio Alliance To Kick Off Major Marketing CampaignJuly 28, 2006, www.fmqb.comThe HD Digital Radio Alliance will launch a new major marketing campaign this Monday in 50 markets around the country. The "Discover It!" campaign will roll out a new brand identity for HD Radio, with new advertising elements on-air and online and much more. It is part of the Alliance's $200 million dollar campaign announced last December. The "Discover It" campaign will make the HD Alliance one of the top two advertisers in each market, with over 90 spots in rotation. The new ads can be heard at http://www.hdradioalliance.com/. “The Alliance has been aggressively marketing HD Digital Radio since our inception,” said HD Alliance President/CEO Peter Ferrara. “The marketing campaign announced today represents the full range of our commitment to helping consumers discover this amazing new technology – from compelling branding and creative to a strong online presence to retail availability.” HDRadio.com will also be revamped, with more features and information about HD Radio. Amazon.com will also begin carrying HD-ready receivers. 7/28/2006 06:51:00 PM
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A Possible Marketing Strategy for XM
July 28, 2006 During the conference call XM Satellite radio announced the method by which subscribers for Nissan, Toyota, and Hyundai would be counted. In simple terms the method is that they will not be counted until the promotional period is over. Those that keep the service will become counted subscribers, and those that don't will never have been counted. This method has a few effects: 1. There are radios out there with listing ears in promotional periods that are not counted. 2. Because XM is footing the bill for the promotional period, there is no revenue. If these subscribers were to be counted, it would have a negative impact on ARPU. By not counting them, ARPU can remain high. This is good. You want to keep ARPU as high as possible. 3. The structure of this method lessens the deactivations line item. A vehicle in this category will have never been termed as a subscriber, so thus would not be termed as a deactivation. Now, this strategy has some big potential benefits for XM. It gives them the ability to market their service in a way that they have not really used before. Let's assume that the promotional period is 3 months with a 1 month buffer at the end for customer retention efforts, etc. In the first year, XM could then collect 8 months of revenue at $12.95 per month. This would equate to $103.60. This is the best overall scenerio. Now, what if XM made the consumer an offer when they were activating their radio. An offer such as this: " Your car comes with a 3 month promotion for XM service. If you pay for a one year subscription now, we will give you an additional 3 months free. This would mean that you would effectively get 18 months of XM service for the price of 12."In effect, XM would reap many benefits from this method.1. They would lock up a subscriber for 18 months (basically unchurnable). 2. They would begin to get revenue immediately to offset subsidy costs. 3. They could add this person to the subscriber rolls and count right away. 4. They would avoid the hassles associated with month to month subscribers. 5. They would effectively turn the initial activation call into a marketing call as well. 6. They would likely be able to increase the take rate. This is just a little bit of thought into the process. Mabey XM already had this in mind......We here at SSG believe that at least this, or something similar should be explored. 7/28/2006 04:18:00 PM
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Sirius Starmate Replay Tops The NPD List For June 2005-May 2006
SUCCESS STORY: Directed Electronics Sirius Starmate ReplayBy Staff -- TWICE, 7/17/2006 (link: HERE) The Sirius Starmate Replay receiver from Directed was the leading plug-and-play satellite radio receiver for the period June 2005 through May of this year, according to The NPD Group. Introduced in September 2005, it has a 44-minute memory buffer at a suggested retail price of $99.99. It reached first place over the XM Delphi Roady2 by 1 percentage point. Top 10 Plug-And-Play Satellite Radio BoxesUnit volume share at retail, June 2005-May 2006 Sirius DEI Starmate Replay XM Delphi Roady2 Sirius DEI Sportster Replay XM Delphi SkyFi2 Sirius XACT Communication Sirius DEI Starmate XM Delphi Roady XT Sirius DEI Sportster SV1 Sirius One XMC10 XM Receiver Source: The NPD Group © TWICE 2006 7/28/2006 03:47:00 PM
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 Elvis Week 2006 on SIRIUS Satellite Radio(posted by www.orbitcast.com) Can't make it to Memphis to partake in the enjoyment of Elvis Week? Well stop your crying, because Elvis Radio, SIRIUS' all-Elvis-all-the-time channel, will be covering the annual celebration from August 8th through August 16th to commemorate Elvis's death on August 16, 1977. Hosted by George Klein (a close friend of Elvis's and regular Elvis Radio host), you'll get a slew of in-depth reports, celebrity guest DJs, and fan interviews throughout the week. The event is punctuated with the annual Candlelight Vigil, where thousands of fans carry lit candles to Elvis's gravesite at Graceland. Check out the riveting schedule after the jump... 7/28/2006 03:39:00 PM
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A Nice Upward Day For XM
July 28, 2006 Back on July 11, SSG published an article titled " Good News XM Could Use". In the piece, we outlined some potential items that we felt would be factors for XM Satellite Radio going forward. Now, on the heels of the XM conference call, we thought it would be good to review what we had stated and where we are today. Items we outlined, and where we are today: 1. The announcement of 7,000,000 subscribers. This news should be about a week away for XM, and the earlier it is delivered the better. A subscriber addition rate of 6,000 NET subs per day would give us the 7,000,000 milestone on July 18, and would show a nice improvement on the 4,374 posted in the second quarter. An addition rate of 5,000 per day would still show a nice improvement and would bring the announcement on July 21st. The key here is showing an improvement. XM did announce 7,000,000 subscribers, but did not indicate when it happened. Given their guidance going forward, it is likely that it came a bit latter than we had hoped, but being able to announce it at the call was a big step. Kudos to XM2. It would be very positive to see XM reiterate their subscriber guidance of 8,500,000 by year end sometime soon. Reiterating this, perhaps in conjunction with a 7,000,000 announcement might ease some concerns on the street. XM did not reiterate guidance, but instead took a tact that likely had an even more powerful impact. They lowered it to what many people feel is a VERY reachable goal, and then outlined that worst case scenerio. The effect here was likely much more profound then trying to reiterate the 8.5 million. There is likely not a person that follows this equity that can imagine a miss of 7.7 million. It also now gives XM the room to move upward at a later date. 3. The earnings report. Even though the subscriber number disappointed some, it can be offset by a more powerful metric in the financial status of the company. Good financial metrics will give people an understanding that the company is on a good financial path. Clear and concise discussion of the financial metrics will be seen as an overall positive and offer direction to investors. XM had a very good quarter financially, and this was not missed by the street. Their loss from operations improved dramatically over last year, and their statements relative to getting to Free cash Flow Positive were encouraging.4. A statement that FCC issues are resolved, and that inventory levels will be sufficient to meet demand as well as guidance. While complete resolution with the FCC issue has not yet happened, XM did discuss the issue. This was very good. XM stated that it is now the testing procedure that is under review (something Sirius also spke to last week). The confirmation from both companies that the issue is actively being addressed is very powerful for the sector. Hopefully we can see a positive announcement involviong testing procedures in the next couple of weeks.5. An announcement regarding the FTC issues, and where that stands. At this point the company has likely already responded to the FTC complaints and addressed them. News that the issues are resolved and impact was minimized would bolster the other positive news. This issue does not seem to be high on the radar screen anymore, and if the issue has been fully addressed, which we believe it has, then it is probably best to leave it off the radar screen.6. Some news regarding the RIAA lawsuit. Perhaps even something as simple as where things stand would take some worry out of the equation. Are the parties negotiating, or is this headed to a courtroom. XM has done well to spell out their feelings, but it is still very unclear as to what a timetable is on the issue. Removal of question marks in the minds of investors would be positive. We were pleased to see XM discuss the issue at the call. Even though there is not much that can be said about the suit, the update reassures investors that the issue is being addressed and not ignored. XM has asked that the suit be dismissed.7. XM has the Oprah Channel starting in September. Establish a date, and give people something to look forward to. Sirius and Howard Stern did very well by letting everyone know exactly when Howard was coming. XM should take a page from the Sirius playbook, and establish a date for Oprah and begin to market her and the debut. News relative to Oprah is beginning to flow. XM has done some on air previews, and they stated that Oprah will be a centerpiece of their marketing efforts. The only additional item we here at SSG would like to see is for Oprah to also give the show on XM a bit of a "push"We had also pointed out some longer term items that we felt XM should address. Again, they seemed to hit some of what we felt were key points:1. An announcement relative to OEM partners. GM and Honda have given specific installation and penetration targets. XM should reiterate these. They should also add more specific details about Hyundai, Toyota and Nissan. Show the path that the OEM sector for XM is on. XM did cover this item pretty well. It appears that roll-outs of some programs may not be a quick or as robust as some were expecting, but at least an indication was made, and investors have a clearer picture on the short and long term installations.2. Talk about the launch of XM 4. Explain the benefits it gives the XM constellation and discuss how it bolsters the service. Suprisingly this issue was not really covered. It would have been a good chance to speak about improving the service, etc. Perhaps we will see more flavor as the launch nears.3. Talk about the financial metrics that have been achieved, and point out that goals are being set, are realistic, and there is a focus to achieving them. This will help bolster investor confidence. If XM still anticipates operational cash flow positive in the fourth quarter they should talk about it, and outline what it is that will get them there. XM did a great job with speaking about the financial metrics. Not much more needs to be said here.As the conference call approached, we here at SSG published and article about a potential buying opportunity in the equity. That artlle was titled "XM - Is there An opprtunity Going Into Earnings?" We outlined several key components that we thought could have an impact on the stock price. Those items were:1. Explain management changes...what does this accomplish? 2. Discuss Q2 subscriber disappointment...what happened? 3. Update on FM modulator issues with FCC...what's the timing? 4. Update on RIAA, expected outcome 5. Marketing department shake up...discuss new direction5. Future guidance, subs, churn, costs, etc. 6. Partnerships 7. New hardware 8. Sales of wearable devices, how are they going? 9. Opie & Anthony, what's the business deal? 1o. Guidance for CFBE...is it still 2007? XM Satellite Radio addressed almost all of these issues. It was great to see this happen, and the movement in stock price has been great. Investor confidence seems to be gaining. With Sirius reporting on August 1, 2006, the sector stands a good chance of seeing some nice up-lift. Congratulations XMSR, and we look forward to the Sirius call. 7/28/2006 03:34:00 PM
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CBS To Contest Janet Jackson Fine
CBS Files Appeal To Contest Janet Jackson Fine In CourtCBS has paid its $550,000 FCC fine for the now-infamous Janet Jackson/Super Bowl incident, but the network has only done so because it can now contest the fine in court.In a statement, the network announced, "CBS is filing today an appeal with the United States Court of Appeals for the Third Circuit seeking to overturn the FCC's finding that the 2004 Super Bowl half-time broadcast was legally indecent. A prerequisite for filing this appeal is to pay the $550,000 fine, which we are also doing today only for this procedural reason.""CBS has apologized to the American people for the inappropriate and unexpected half-time incident, and immediately implemented safeguards that have governed similar broadcasts ever since. However, we disagree strongly with the FCC's conclusions and will continue to pursue all remedies necessary to affirm our legal rights."Visit FMQB.com for more on this Breaking News story... 7/28/2006 11:56:00 AM
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Atmosphere Radio???
 July 28, 2006 The quick eyes over at Engadget picked up on some interesting happenings at samsung. Seems the electronics giant is working on a method to use the atmosphere as a virtual antenna, or medium, for which to send communications. Story Excerpt: Samsung working on atmospheric broadcasting Posted Jul 28th 2006 7:53AM by Darren MurphFiled under: Cellphones, WirelessYou never know what you'll find when digging through the US Patent files, and it has been discovered that Samsung has filed one of their own in hopes of using the atmosphere as an antenna. Researchers and employees in Korea are devising a method to use the ionosphere...... Interested SSG readers can catch the whole story HERE via Engadget 7/28/2006 10:36:00 AM
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Motley Fool Comments On XMSR Earnings & Stock Action
Picking Up the XM Pieces
By Rick Aristotle Munarriz (TMFBreakerRick) July 28, 2006 It's a pretty good sign that your stock has hit rock-bottom when the company reports bad news and the shares shrug it off and inch upward anyway. That's how things went on Thursday for XM Satellite Radio (Nasdaq: XMSR). The beleaguered pioneer's shares inched 5% higher even though it posted another quarterly loss and lowered its guidance for the number of year-end subscribers to its satellite-radio service. Sure, revenues soared 82% higher to hit $228 million while analysts were expecting only a 77% improvement. That number was mostly the result of year-over-year subscriber growth of 56% and the 30% price hike it instituted during the spring of 2005. The losses continue, naturally, but XM is still confident that it will achieve positive cash flow on an operating basis by the final quarter of 2006. The trend should continue for 2007 on the whole. So far, so palatable. No one is looking for satellite radio to grow into a fat-margin breeding farm for a few years. Cynics may argue that it will never get there. The rub in yesterday's report came with the announcement that XM is looking to close out the year with 7.7 million to 8.2 million subscribers. To place that in its proper perspective, we need to take a three-minute tour of the company's growth trajectory in the past. No flash photography, please. The ups and downs of XMThrough the summer of 2005, XM was growing at a torrid pace. Stepping up to the podium to discuss subscriber trends often meant ratcheting up expectations to higher user targets. Momentum slipped over the holidays, just as Howard Stern was gearing up to start his five-year stint at rival Sirius (Nasdaq: SIRI). The company that had historically underpromised and overdelivered blew it. XM came up short on the 6 million subscribers it had looked to close out 2005 with. It then tossed out a 9 million-member figure for 2006 that seemed doable until it became clear that XM had handed the market leadership baton to Sirius. That's the reason yesterday's move to scale back subscriber targets didn't really catch the market by surprise. A few weeks ago, after Sirius posted more net subscriber additions than XM did for the third straight quarter, I was skeptical of XM's already lowered year-end subscriber target. Here is what I wrote at the time: Anyone with a calculator and a penchant for train wrecks can see that XM may let us down one more time. Back in May, XM announced that it intended to close out the year with 8.5 million subscribers. It had originally planned to end 2006 by lapping the 9 million mark. On the other hand, Sirius expects to wrap up the year with 6.2 million subs. In other words, over the next six months, XM expects to land 1.6 million more net new users, with Sirius projecting just 1.5 million net new subscribers. How? If the baseball-charged second quarter didn't do it, how will XM outmuscle Sirius when the playing fields of choice go from diamonds to gridirons? XM will have "its Oprah moment" in a few months, but that's a wild card, since Oprah's emphasis will remain with her syndicated television show. What would it take for XM to avoid another heartbreak? Will next month's earnings report bring that 8.5 million year-end target to a round 8 million, or will the announcement come in early October instead? Well, XM ripped the Band-Aid off sooner rather than later. Thankfully, it's been ripping other bandages off quickly to let the healing process start sooner. This past week alone, it made nice with ASCAP on the music side and let the market know that it's not afraid to rattle the executive ranks by stripping CEO Hugh Panero of one of his hats and naming Nate Davis president and COO. Maybe it is different this timeI was probably at my harshest in taking XM to task on Monday in a somewhat scathingly critical commentary. All I wanted, I guess, was five minutes in the XM boardroom. I wouldn't have said a single word. I just would have brought in a boom box, held it over my head Cusack-style, and let Twisted Sister's "We're Not Going to Take It" ring out. I was just sick and tired of watching XM let itself be bullied by competitors like Sirius or terrestrial radio without putting up much of a fight. The way things had been going at XM over the past few months, any change would have likely been a change for the better. It had become a shell of the first mover that was the early favorite, when it landed content-distribution deals through outlets that matter -- including Starbucks (Nasdaq: SBUX) and JetBlue (Nasdaq: JBLU) -- and was the receiver of choice through a majority of the new-car market. I'm not sure when XM jumped the shark, but this week has that twinkle of a spark behind a company that may have gotten its........... Link to entire article: HERE7/28/2006 09:59:00 AM
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RBCM Lowers Target On XMSR
XM Satellite Radio-XMSR target lowered to $20 from $26-OP@RBCM -(theflyonthewall.com 07/28 09:24:11) RBCM lowered its target to $20 after XMSR reported a weak Q2 report and revised fiscal 7/28/2006 09:37:00 AM
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Wall Street Journal Comments On XMSR Earnings
XM Loss Widens,And User OutlookIs Lowered Again
By SARAH MCBRIDEJuly 28, 2006; Page A12, WSJ (Link: HERE) XM Satellite Radio Holdings Inc. posted a wider second-quarter loss and again cut its subscriber estimate for the year. The subscription radio service reported a net loss of $231.7 million, or 87 cents a share, compared with a loss of $148.8 million, or 70 cents a share, a year earlier. The latest loss included $105 million in charges, largely from debt restructuring. Revenue grew 82% to $227.9 million from $125.4 million. The Washington, D.C., company slashed its subscriber estimate to a year-end total of 7.7 million from 8.2 million. At the start of the year, XM forecast nine million subscribers; in May it cut that estimate to 8.5 million. The company blamed a weaker overall retail environment along with problems with its popular "plug-and-play" units. Because of a Federal Communications Commission investigation into how those radios transmit programming to car stereos, the company has had to pull many of them from store shelves. Sirius Satellite Radio Inc., the company's competitor, has been trouncing XM in that retail market. XM Chief Executive Hugh Panero said on a conference call with analysts the retail sales are "unacceptable, and our focus and objective is to regain market share." One strategy, he said, is to heavily promote a new show with Oprah Winfrey, who is scheduled to begin an exclusive radio program on XM in September. XM's share price rose 53 cents, or 5.1%, to $10.89 as of 4 p.m. in Nasdaq Stock Market composite trading. Analysts said the stock gained because of a sense the company had announced all of its bad news, and short sellers were covering their positions. Lower subscriber numbers may affect one of the company's biggest goals for the year: reaching break-even cash flow from operations in the fourth quarter. While he still expects to meet that goal, "our ability to do so becomes very challenging on the lower end of the subscriber range," Mr. Panero said on the call. The company said churn -- the share of customers who don't renew with XM -- rose to 1.83% from 1.42% at the end of the same quarter a year earlier. Company officials said the percentage of people who activate XM subscriptions after buying a new car fell slightly, to 54.5% from 57.6%, and would decline further in the third quarter. The company said one of its radio manufacturers had accidentally turned off the free trial subscriptions, typically three months, that the company uses to hook car buyers on XM, but said the manufacturer had now fixed the problem. It didn't disclose the manufacturer or affected car brands. 7/28/2006 09:11:00 AM
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Bear Stearns Weighs In On XMSR
XM Satellite Radio-XMSR uncertainty still remains concerning outlook-UP@BEST(theflyonthewall.com 07/28 08:54:45)- The firm is still concerned over demand, especially since SIRI has been gaining substantial market share. Management continues to work on dealing with the FCC issues in order to start manufacturing and shipment of radios. 7/28/2006 09:02:00 AM
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XMSR Downgraded To Sector Peformer From Outperfomer By CIBC
XM Satellite-XMSR downgraded to Sec Performer from Outperformer@CIBC(theflyonthewall.com 07/28 06:34:41) CIBC downgraded shares given the lack of visibility into an FCC resolution,lowered guidance, and their belief that new hires will not significantlyimpact sales. 7/28/2006 08:49:00 AM
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On Sirius: Alexis Stewart's Show Gets Attention
 SEX, NO CUPCAKESBy RICHARD JOHNSON with PAULA FROELICH, CHRIS WILSON and BILL HOFFMANN New York Post, July 28, 2006 -- SIRIUS Satellite Radio execs have no qualms with the risqué direction Mar tha Stewart's daughter, Alexis, has taken with her show, "Whatever," on her mom's channel. Alexis recently told co- host Jennifer Koppelman Hut about a sex romp with Peter Cook (before he married Christie Brinkley) and how he was not so memorable in the sack. She also said Oprah Winfrey looked "dikey" on the cover of this month's O magazine. Some radio insiders say that sort of banter might be a bit much for the housewives tuning in for cupcake recipes and decorating tips and "moth ers driving their kids home from work," as one put it. But Sirius spokes man Patrick Reilly downplayed the issue...........Link to entire article: HERE
7/28/2006 07:51:00 AM
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Daimler Chrysler Reports Earnings
DaimlerChrysler Doubles Its Profits
By NICK BUNKLEY, New York Times (link to full article: HERE) "DETROIT, July 27 — Higher sales of Mercedes Benz cars helped DaimlerChrysler double its second-quarter profits, despite a slump at Chrysler that the automaker warned would worsen in the months ahead. The company said today that operating income rose 11 percent from the comparable period a year ago, reaching 1.86 billion euros ($2.4 billion), even though it sold 3 percent fewer vehicles, or 1.3 million in all. DaimlerChrysler, which is cutting thousands of jobs in Germany, reported overall net income of 1.8 billion euros ($2.3 billion), up from 737 million euros ($942 million) in the second quarter of 2005. Much of the net profit came from a revaluation of the company’s stake in the European Aeronautic Defense and Space Company, parent of the jet manufacturer Airbus. The results show considerable progress in the company’s efforts to rejuvenate its Mercedes unit, but growing problems at Chrysler, the American division, as it prepares to introduce new models later this year. The Chrysler Group’s operating profits fell by 91 percent in the quarter to $65 million; DaimlerChrysler’s chief executive, Dieter Zetsche, forecast that next quarter would be much worse for the group, with Chrysler expected to lose as much as $639 million. But Mr. Zetsche said that Chrysler would rebound in the fourth quarter, as new models like the 2007 Dodge Nitro, Chrysler Sebring and Jeep Patriot arrive in showrooms. The unit will make money for the full year, he said...." 7/27/2006 10:36:00 PM
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XM Satellite Radio Transcript
 July 27, 2006 Satellite Standard Group keeps you informed. Investors that have not yet heard the call can read the trascript here: Hello, everyone, this is Joe Titlebaum, General Counsel of XM Satellite Radio. Before we begin our prepared remarks, I would like to remind everyone that certain information on this call may contain forward-looking statements. Due to a number of factors, our actual results may differ materially from those projected in such forward-looking statements. Those factors include future demand for the company's service, the company’s dependence on technology and third-party vendors, and the potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.’s Form 10-K filed with the Securities and Exchange Commission on March 3, 2006. Copies of this filing are available online and upon request from XM Radio's Investor Relations department. I will now turn the call over to Hugh Panero, CEO of XM Satellite Radio. Hugh Panero Good morning, everyone, and thank you for joining us. On the call with me are: Gary Parsons, Chairman; Nate Davis, our new President and Chief Operating Officer; Joe Euteneuer, our Chief Financial Officer; Steve Cook, Executive Vice President of Automotive; Eric Logan, Executive Vice President of Programming; and Joe Titlebaum, whom you just heard from. At the onset, I would like to make some basic points regarding XM Radio, the satellite radio industry, and our current position. XM created the satellite radio category as a major consumer business. We have been the industry leaders since the first satellite radio subscriber in November, 2001. By the end of the second quarter of 2006, we are generating more than $225 million a quarter in revenue, with total revenue of more than $900 million expected for the full year 2006. We currently have more than 7 million subscribers. This quarter alone, nearly 1 million consumers -- that is new gross subscriber additions -- became new XM Radio subscribers. Our high customer satisfaction, appealing content, and far-reaching distribution channels positions us to continue significant growth on a sustained basis. At the same time, and as most of you are well aware, we face a number of marketplace, operational and regulatory issues. We will navigate through these issues with the focus and determination that enabled us to launch and lead this emerging industry......... The whole transcript can be read HERE via seeking alpha 7/27/2006 09:15:00 PM
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XM Sets The Stage For Upward Movement
 July 27, 2006 Despite over 6 months of bad happenings for XM Satellite Radio, they had what can only be considered a good call today. Yes, some of the numbers were not impressive, but the direction of the company is what really made the day. XM spoke to many of the issues that have been ailing the company of late, and did what is likely the best thing that could have been done. They set goals and guidance that are obtainable, and in doing so illustrated that the upward process is a "one step at a time" activity. XM laid out a worst case scenario, and indicated that even if that scenario were to happen that Free Cash Flow would still be around the quarter. Initial reaction to the lowered subscriber guidance was not good. The stock traded down sharply in pre-market, and continued in the red until management spoke. Gone were excuses and dodging, and in was some straight forward talk about where XM was headed. This is exactly what the street was looking for. The lowered guidance effectively changed the expectations of the street and the company. Last year at this time XM raised subscriber guidance by 500,000 subscribers. This was the beginning of the troubles for XM. They had raised the bar to high. This year we see the exact opposite. On the heels of what can only be categorized as a steady flow of bad news, XM took a new tact. They built the bad news into the expectations, and laid out a baseline rather than shooting for the stars. It is almost as if the outlined a fresh start, and the street responded nicely. Until the past year, XM had a relative easy street in the sector. They were observed as the leader, and things were going so well it seemed impossible that bad times would come. Some bad decisions were made, and efforts to rectify the situation often fell short as well. Today XM took the first steps in moving in the right direction. Now, this new XM is something that we have not really seen as yet. They will need to show that the steps they are implementing are indeed moving the company in the right direction. We here at SSG believe that the lowered subscriber guidance now has a built-in piece of good news. XM and Sirius are currently working with the FCC to establish the testing procedures and guidelines for the FM modulators. Should the new procedures be approved in the coming couple of weeks, and should XM resume production, they could conceivably be in a position to upgrade their 7.7 million low end to something in the neighborhood of 8 million. They would then be in a great position to review things again in the Q3 call. XM also did a good job of tempering the OEM expectations for this year. For whatever reason, expectations were for big ramp-ups from Hyundai and Toyota. Hyundai has started their program, as XM indicated previously they would. Toyota is not expected to begin until next year. The same is the case for Nissan. The missing component here is what installation rates Toyota would have. Given the guidance, it would appear that factory installs will not yet be wide spread. In our opinion XM should take additional steps to clarify the install rates of some of the manufacturers. XM seems to have shifted their focus from Toyota to Nissan in their call. Perhaps some additional information will be available at a future investor conference. Today seemed to offer a new and fresh start for the most part. Demonstration of meeting goals is the next step. Another aspect that the street noticed was that the loss from operations was down substantially. This was welcomed news. The loss from operations was about 48 million this year vs. About 88 million last year. A dramatic improvement that bodes well going forward. Not all obstacles have been cleared, but the course is now set and known by the street. This is what is what investors were looking for. 7/27/2006 09:01:00 PM
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S&P Ups XM Satellite To Hold (3 Stars) From Sell (2 Stars)
JULY 27, 2006 S&P Stock Picks and Pans S&P Cuts Dow Chemical, Ups XM Satellite
From Standard & Poor's Equity ResearchXM Radio : Ups to 3 STARS (hold) from 2 STARS (sell)Analyst: Tuna Amobi, CPA and CFAWe believe second quarter results were lackluster, and note sharply reduced management guidance. However, we think worst is over and, with shares down sharply year-to-date, we view them as fairly valued. XM Satellite Radio recently passed 7 million subscribers, and plans to revisit its subscriber growth targets after its third quarter report. Still, we see overhang on product shipment delays during the FCC emission probe, plus other unrelated legal and regulatory matters. We are also wary of more retail market-share losses to rival Sirius ( SIRI ). Our target price remains $12. (Link to article: HERE) 7/27/2006 08:39:00 PM
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Directed Electronics To Present At JP Morgan Conference
Directed Electronics, Inc. to Present at the 9th Annual JP Morgan Harbour Auto Conference
VISTA, Calif., July 27 -- Directed Electronics, Inc. , the largest designer and marketer of consumer branded vehicle security and convenience systems in the United States based on sales, and a major supplier of home audio, mobile audio and video, and satellite radio products, today announced that Jim Minarik, President and Chief Executive Officer, will present at the 9th Annual JP Morgan Harbour Auto Conference. The conference will be held August 7-9, 2006 at the Ritz-Carlton Hotel in Dearborn, MI. Directed's investor presentation is scheduled for 11:40 a.m. EDT on Monday, August 7, 2006. The presentation will be webcast live and will be available on the Investor Relations section of Directed Electronics' website at www.directed.com. For those who are not available to listen to the live broadcast, the call will be archived. 7/27/2006 08:31:00 PM
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When Is Jon Stewart Coming To Satellite Radio?
 Audio TV streams are already available on satellite radio, for example, CNN, CNBC, Bloomberg, etc. This needs to be further explored as a relatively easy-to-program content option. There are many TV shows that are well suited to this format. The one that pops into my mind most often is "The Daily Show with Jon Stewart". How many of us love the show but don't get to watch it because we have overlapping plans, can't stay up late enough or don't own a TIVO? I, for one, would love to listen to the audio stream on my satellite radio, and would pay dearly to do so! 7/27/2006 06:16:00 PM
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Reuters.com: The Tide May Be Turning For XMSR
Tuning into XM Satellite 27 Jul 2006 XM Satellite Radio airs a rough-sounding quarterly result but investors may be hearing a better tune. Reuters.com investment channel "XM Satellite Radio ( XMSR) reported a second-quarter result this morning that at first blush was a bundle of bad news. It reduced subscriber-growth guidance and acknowledged that its latest forecast might again have to be trimmed once the company gets a handle on how ongoing hardware issues will impact sales. But But investors are sensing better days ahead. After initially dropping about 5 percent, the company's shares spiked up over 5 percent. The company's problems have been well chronicled: high costs, federal regulatory issues concerning plug-and-play radio hardware, stock sales by executives and marketing practices, a Recording Industry Association of America (RIAA) challenge to storage of music on portable devices, a slowdown in subscriber growth, and compelling headlines from rival Sirius Satellite Radio ( SIRI), which continues to bask in the glow of its launch of Howard Stern programming. But the tide may be turning..." (link to full article: HERE) . 7/27/2006 05:33:00 PM
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MTV Special: 25th Anniversary Celebration On Sirius
Sirius Celebrates MTV’s 25th AnniversaryJuly 27. 2006, www.fmqb.comThe launch of cable TV channel MTV on August 1, 1981 changed Pop culture forever, and on its 25th anniversary, four of its original VJs will recall the momentous occasion exclusively on Sirius satellite radio.Sirius on-air hosts Mark Goodman, Nina Blackwood, Alan Hunter and Martha Quinn will celebrate the 25th anniversary of the launch of MTV in a two-hour Sirius special, Big ‘80s Celebrates MTV at 25. The special will air on Tuesday, August 1 at 10a.m. ET on channel 8, Big ‘80s. The four will share their memories of MTV’s launch and play songs from the videos the then-new cable channel aired during its first few hours of existence.“We all knew we were part of something really cool, really fun," said longtime VJ Mark Goodman. "I never imagined that we were part of something that would change Pop culture forever.” Goodman, Hunter, Blackwood and Quinn, along with the late J.J. Jackson, were the five original faces and voices of MTV when it debuted on August 1, 1981. Their tenure as hosts of the nation’s first music television network provided them with an in-depth and up-close perspective on the most popular Rock/Pop music and artists of the 1980s.On Sirius, they have been together again since May 2004 as on-air hosts on commercial-free music channel Big ‘80s, which plays all the hit music of one of the most diverse and exciting decades in popular music history. Jackson died suddenly in March of 2004. Following its premier broadcast, Big ‘80s Celebrates MTV at 25 will be repeated on August 1 at 4p.m. and at 9p.m. ET, and on August 2 at 3a.m. ET. 7/27/2006 05:18:00 PM
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Update on Senate Music Vote
Senate Delays Music Vote July 27, 2006By Brooks Boliek, The Hollywood Reporter SOURCE: TheHollywoodReporter.comThe chairman of the Senate Judiciary Committee has delayed a vote on legislation that requires satellite, cable and Internet broadcasters to pay fair market value for digitally transmitting music.While Sen. Arlen Specter, R-Penn., told Sen. Dianne Feinstein, D-Calif., that he was willing to have the committee vote on the legislation, he told her he did not think the legislation was ripe for committee consideration, according to a copy of the letter obtained by The Hollywood Reporter."I think it is unwise to try to move the bill unless a consensus is reached," Specter scrawled on the bottom of the typewritten letter.Feinstein had asked Specter to have the committee vote on the bill last week. The legislation is co-sponsored by Sen. Lindsey Graham, R-S.C., and Senate Republican leader Bill Frist, R-Tenn., and is being pushed by the RIAA, music publishers and musicians groups.They contend that the new digital offerings by broadcasters, satellite radio, cable and Internet companies unfairly compete against such download services as iTunes and Rhapsody, which pay royalties on digitally recorded music.Broadcasters, satellite radio and the other services oppose the legislation, contending that the new services allow people to do digitally what they can do in the analog world.While the committee would move the bill this week, the music industry remains confident that a deal can be worked out."We understand that the chairman has indicated that he is committed to continuing the process ... and is hopeful that a resolution can be reached promptly," an RIAA spokesperson said. "We are pleased with his commitment and will participate fully in the process." 7/27/2006 02:28:00 PM
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A Look At XM's Subscriber Pool
July 27, 2006 XM had Gross subscribers of - 926,281 XM had Net Subscribers of - 398,012 XM had Churn/Deactivations of – 528,269 XM had Gross Retail additions of - 408,695 XM had Net Retail additions of - 168,487 Of the 168,487 in Net retail additions, 133,743 came from the Family Plan , and 4,817 came from Data Services XM had Gross OEM additions of – 517,586 XM had Net OEM additions of - 229,525 XM Subscribers in Promotional periods – 573,144 XM Subscribers with rental cars – 41,841 SAC - $64 CPGA - $112 7/27/2006 09:31:00 AM
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XM Issues Quarterly Report
June 27, 2006 WASHINGTON, July 27 /PRNewswire-FirstCall/ -- XM Satellite Radio Holdings Inc. (Nasdaq: XMSR - News) today reported financial and operating results for the second quarter ended June 30, 2006, and it announced that it recently surpassed seven million subscribers. For the second quarter 2006, XM recorded gross subscriber additions of 926,281 and net subscriber additions of 398,012. XM finished the second quarter 2006 with a total of 6,899,871 subscribers, representing a 56 percent increase over the 4,417,490 subscribers at the end of the second quarter 2005. "Despite near-term challenges, XM's revenues grew in the second quarter by 82 percent compared to the same quarter last year and we were able to significantly bring down our adjusted EBITDA loss year over year," said Hugh Panero, CEO of XM Satellite Radio. "It's a testament to the appeal of satellite radio that XM recently surpassed 7 million subscribers." Second Quarter Financial ResultsFor the second quarter 2006, XM reported revenue of approximately $228 million, an increase of 82 percent from the $125 million reported in the second quarter 2005. The quarterly increase in revenue was driven by 56 percent subscriber growth year over year, and increases in average revenue per subscriber. For the second quarter of 2006, XM's subscriber acquisition cost (SAC), a component of cost per gross addition (CPGA) was $64 compared to $50 in the second quarter of 2005. CPGA was $112 compared to $98 in the second quarter of 2005. XM's net loss for the second quarter of 2006 was $229 million compared to a net loss of $147 million during the second quarter of 2005. The net loss for the second quarter of 2006 includes $105 million in de-leveraging and other non-operating charges that were not incurred during the second quarter of 2005. For the second quarter of 2006, the adjusted EBITDA loss (non-GAAP) improved to $46 million versus an adjusted EBITDA loss of $88 million in the second quarter of 2005. The primary differences between net loss and adjusted EBITDA are non-operating amounts and certain operating non-cash charges. For a full reconciliation of our net loss to adjusted EBITDA, see the attached financial schedules. XM Revises Subscriber Guidance
Based on current marketplace dynamics and regulatory uncertainties concerning 'plug-and-play' radios, XM today also reported a change to its subscriber guidance for 2006, projecting that it will end the year with total subscribers of between 8.2 million and 7.7 million. The company will refine this range at the end of the third quarter when it expects to have a firmer sense of regulatory progress and availability of product for the fourth quarter, as well as retail sales trends. With this revised subscriber guidance, XM still expects to achieve positive cash flow from operations for the fourth quarter 2006 and the full year 2007, although its ability to do so becomes challenging toward the lower end of the subscriber range. Nate Davis Appointed XM President and COO; XM Augments Marketing TeamNate Davis was recently appointed to the newly-created position of President and Chief Operating Officer at XM. Mr. Davis, who reports to Mr. Panero, is a seasoned telecommunications executive, having served in senior management roles at XO Communications, Nextel and MCI. He continues to serve on XM's Board of Directors, to which he was appointed in 1999. The company has also augmented its sales and marketing team with the appointment of a number of senior-level marketing executives who will report to a Chief Marketing Officer, to be named by Davis in the coming months to oversee all sales and marketing for the company. "Oprah & Friends" Channel Offers Preview in Advance of September Launch
In advance of its September 25th launch, the "Oprah & Friends" channel is now broadcasting an on-air preview of programming and personalities on its future home, XM Channel 156. The much-anticipated talk radio channel, exclusive to XM, will feature a broad range of original programming hosted by popular personalities from "The Oprah Winfrey Show" and O, The Oprah Magazine. XM Creates Dedicated Automotive GroupXM recently announced the creation of a dedicated automotive group to focus exclusively on XM's automotive strategic partnerships. The new group is overseen by XM veteran Steve Cook, who was recently named to the role of Executive Vice President, Automotive. XM is the leading provider of satellite-delivered entertainment and data services for the automobile market. XM is available in more than 140 different vehicle models for 2006. 2006 is also a staging year for significant growth in the volume of XM-equipped vehicles in 2007 and 2008, with annual factory installations of XM radios expected to double in the next two years. About XM Satellite RadioXM is America's number one satellite radio service with more than 7 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XM's 2006 lineup includes more than 170 digital channels of choice from coast to coast: the most commercial-free music channels, sports, talk, comedy, children's and entertainment programming; and the most advanced traffic and weather information. XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Toyota, Hyundai, Nissan, Porsche, Suzuki, and Subaru, is available in more than 140 different vehicle models for 2006. XM's industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com. Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-3-06. Copies of the filing are available upon request from XM Radio's Investor Relations Department. Full report HERE7/27/2006 08:38:00 AM
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Jessica Simpson On Sirius
 We thought readers might need a break from earnings season... Jessica Simpson to host Weekend Countdown on SiriusJessica Simpson, will host a special “fashionably late” edition of the SIRIUS Hits 1 Weekend Countdown this Thursday, July 27th at 5pm ET. SIRIUS Hits 1 Weekend Countdown features the 45 biggest songs based on SIRIUS Hits 1 airplay and listener requests, including Jessica Simpson's own new song, "A Public Affair," which comes in at #15 on this week’s countdown. Tune is as Jessica has a blond-moment when she confuses the stated sexual preferences of rap star Nelly with pop star Nelly Furtado. Via www.orbitcast.com ( LINK) 7/26/2006 05:56:00 PM
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Sirenza Reports Q2 Earnings, Raises Full Year Guidance
Sirenza Microdevices Reports Second Quarter 2006 Results; Record Revenue and Pro Forma Profit With Continued Positive Operating Cash Flow; Increases Full Year Guidance Wednesday July 26, 4:10 pm ET BROOMFIELD, Colo., July 26 /PRNewswire-FirstCall/ -- Sirenza Microdevices, Inc. (Nasdaq: SMDI - News) today reported its financial results for its second fiscal quarter ended June 30, 2006. Financial Highlights Revenue * Record quarterly revenue of $39.0 million; 87% sequential quarterly revenue increase * Year-over-year quarterly revenue increase of 156% * Record first half 2006 revenue of $59.9 million; 118% increase over the same period last year * SMDI segment quarterly revenue increased year over year by 64% and sequentially by 20% * PDI segment revenue represented 36% of consolidated Sirenza quarterly revenue Earnings * Quarterly gross margin of 37%, compared to 43% a year ago and 48% sequentially * Quarterly pro forma(1) gross margin of 44% compared to 43% a year ago and 49% sequentially * Quarterly net income of $2.1 million or 5% net income margin * Record quarterly pro forma net income of $7.2 million or 18% pro forma net income margin * Quarterly earnings per share of $0.05 per diluted share, compared to a loss of $(0.01) per share a year ago and $0.04 per share sequentially * Quarterly earnings per share of $0.16 per diluted share on a pro forma basis, compared to $0.01 per share a year ago and $0.09 per share sequentially Cash Flow * Quarterly cash flow from operations of approximately $3.7 million, or $0.08 per diluted share * Record first half cash flow from operations of approximately $9.1 million or $0.21 per diluted share * Eleven consecutive quarters of positive cash flow from operations Sirenza's second quarter net revenues were $39.0 million, compared with $20.9 million for the first quarter of 2006 and with $15.3 million for the second quarter of 2005. "We are extremely pleased to report record revenue, record pro forma earnings and continued positive cash flows from operations this quarter," stated Robert Van Buskirk, president and chief executive officer of Sirenza Microdevices. "Our more than 100% increase in pro forma profit on revenue growth of 87% clearly demonstrates the continued earnings leverage in our business. We have made substantial progress in the integration of Premier Devices and both our PDI and SMDI business segments delivered increased revenues in our second quarter. We currently expect continued growth in our business in the second half of this year as we capitalize on our current momentum and leverage our diversified, global business platform. In our earnings teleconference today, we will outline our current third quarter outlook and our increased outlook for our full fiscal year." Link to full press release: 7/26/2006 05:14:00 PM
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XM's Poison Pill
 July 26, 2006 Whether you feel that the speculation surrounding an XM buy-out or merger is real or a pipe dream, we thought it would be good for investors to understand some of the potentials involved. Below is the "XM Poison Pill" or "Stockholder Rights Plan". Whether it would be implemented or not is certainly up for speculation, but the plan does exist, and could be implemented if XM chose to do so. XM Satellite Radio Holdings Inc. Board Adopts Stockholder Rights Plan Washington, DC - August 2, 2002--XM Satellite Radio Holdings Inc. (NASDAQ: "XMSR") announced today that its Board of Directors has adopted a Stockholder Rights Plan in which preferred stock purchase rights will be granted as a dividend at the rate of one right for each share of Common Stock held of record as of the close of business on August 15, 2002.The Rights Plan, which is similar to plans adopted by more than 2,300 publicly-traded companies, is designed to deter coercive or unfair takeover tactics. The Rights Plan will assist the Company's Board of Directors in dealing with any future actions taken by hostile entities that attempt to deprive the Company and its stockholders of the opportunity to obtain the most attractive price for their shares.In implementing the Rights Plan, the Board has declared a dividend of one right for each outstanding share of XM Satellite Radio Holdings Inc. Class A Common Stock, Series A Preferred Stock and Series C Preferred Stock (on an as-convertedbasis). Each right initially would entitle the holder thereof to purchase one-one thousandth of a share of Preferred Stock. One-one thousandth of a share of Preferred Stock is intended to be approximately the economic equivalent of one share of Common Stock. The rights will expire on August 2, 2012.Initially, the rights are represented by the Company's Class A Common Stock certificates and are not exercisable. The rights will be exercisable only if a person or group in the future becomes the beneficial owner of 15% or more of XM's Class A Common Stock or commences, or publicly announces an intention to commence, a tender or exchange offer which would result in its ownership of 15% or more of the Class A Common Stock. The Rights Plan grandfathers Hughes Electronics and General Motors, as such stockholders' existing ownership positions are each in excess of the 15% ownership threshold above. The exercise price is $50.00. Ten days after a public announcement that a person or group has become the beneficial owner of 15% or more of the Class A Common Stock, all holders of rights, other than the acquiring person or group, would be entitled to purchase Class A Common Stock of the Company upon the payment of the exercise price at one-half of the then-current market price. If the Company is acquired in a merger, or 50% or more of the Company's assets are sold in one or more related transactions, each right would entitle the holder thereof to purchase common stock of the acquiring company at half of the then-current market price of such common stock. At any time after a person or group becomes the beneficial owner of 15% or more of the Class A Common Stock, XM's Board of Directors may exchange one share of Class A Common Stock for each right, other than rights held by the acquiring person or group. The Board generally may redeem the rights at any time until ten days following the public announcement that a person or group has acquired beneficial ownership of 15% or more of the outstanding Class A Common Stock. The redemption price is $0.005 per right.Details of the Rights Plan will be mailed to all stockholders of the Company. 7/26/2006 04:05:00 PM
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CNNMoney.com Comments on XMSR As A Takeover Target
CNNMoney.com XM's fading signal sparks takeover talk (link to article: HERE)Wednesday July 26, 2:06 pm ET By Paul R. La Monica, CNNMoney.com senior writer XM Satellite Radio has crashed and burned and now some are starting to wonder if the company could be a takeover target. Shares have plummeted more than 60 percent this year. Tough competition from rival Sirius Satellite Radio, which now employs shock jock Howard Stern, appears to be taking a toll. XM lowered its year-end subscriber and revenue forecasts in May. Analysts are also worried about increased advertising and promotional expenses as XM tries to stay ahead of Sirius. The company is also facing regulatory headaches. The Federal Trade Commission is investigating marketing practices. And in May, the company halted the sales of two models of radios that emit signals over standard FM frequencies because the Federal Communications Commission said they did not meet transmission standards. The hiring of a new president and chief operating officer on Monday hasn't eased Wall Street's concerns just yet either. Shares have fallen 6 percent so far this week as investors nervously prepare for the release of XM's second-quarter financial results. XM will report its numbers on Thursday and analysts expect sales of $221.6 million and a loss of 66 cents a share. So could XM soon find itself acquired? After all, the stock is now trading at its lowest point since August 2003 and with a market value of about $2.7 billion, the company could conceivably be absorbed by Sirius, which is valued at $5.5 billion, or one of the two largest terrestrial radio firms, Clear Channel Communications or CBS. There have been sporadic rumors during the past year about XM being a target of each of these companies. In fact, Sirius chief executive officer Mel Karmazin said at a media conference in June that he would love to buy XM at the right price. However, he said he wasn't sure a deal would be approved by government agencies. Analysts agree, saying that Karmazin's comments about a Sirius-XM merger are probably just a pipe dream for now. Chad Bartley, an analyst with Pacific Crest Securities, points out that the Justice Department and FCC blocked a proposed merger between satellite TV firms DirecTV and EchoStar in 2002. Based on that precedent, Bartley said it's highly doubtful that the government would look favorably on a deal between the only two satellite radio companies. XM currently has 6.9 million subscribers while Sirius has 4.7 million. But David Bank, an analyst with RBC Capital Markets, said that an eventual merger between the two can't be ruled out. As more and more technologies emerge, such as digital radio and streams of music over cell phones, it may be easier for the two companies to argue that a Sirius-XM combination would not crush competition. "I don't think a merger is viable at this point given the business concentration issues," Bank said. "But in three or four years you maybe could see a deal happening." So what about the traditional radio firms? Big radio is struggling to hold onto listeners and is faced with sluggish ad sales growth. A steady stream of subscriber fees could help reignite growth. "As people become more comfortable with the longer-term trajectory of satellite radio then XM could ultimately be attractive to outside investors," said Stuart Kagel, an analyst with Janco Partners. "A lot of larger media companies are bereft of high return on investment opportunities and satellite radio could be one." Clear Channel, the nation's largest radio firm does own 8.3 million shares of XM, about a 3 percent stake, and also programs some of XM's music channels. But relations between the two companies have taken a sour turn lately. Clear Channel and XM feuded over whether or not XM should air ads on the stations Clear Channel programs. Commercial-free music has been a main selling point for XM so the company resisted ads. But in March, an arbitration panel ruled in favor of Clear Channel, forcing XM to air commercials. The business arrangement between Clear Channel and XM is set to expire in 2008 and Clear Channel already has an agreement to sell its XM stake to Bear Stearns in that year as well. So it seems unlikely that Clear Channel and XM would kiss and make up and forge a larger deal. That leaves CBS. The company has recently inked a program-sharing deal with XM and that has led to increased chatter about a deeper partnership between the two firms. In April, some CBS stations began airing shortened versions of XM's "Opie & Anthony" show. That's a significant move for CBS since the two radio hosts were fired by CBS's radio business (then known as Infinity) in 2002 after they broadcast a couple having sex in New York's St. Patrick's Cathedral. A CBS-XM deal would be juicy since Karmazin and Stern both used to work for CBS. And Stern has not hidden his dislike of CBS CEO Les Moonves. So having Moonves and CBS suddenly become Sirius' top competitor does make for a great battle of egos. However, analysts don't believe the CBS-XM hype that much either. Although XM is getting along better with CBS than Clear Channel right now, Bank said that it would be difficult for CBS, even with its market value of $20.7 billion, to justify a deal since it would hurt CBS's profits for the foreseeable future. Analysts don't expect XM to report positive cash flow on an annual basis until 2008. "I don't really see XM as a viable target for one of the larger radio companies," Bank said. "The dilution would be substantial and I don't think they could withstand it." Bartley adds that buying a satellite radio firm would put Clear Channel or CBS in the uncomfortable position of having to explain why listeners should now have to pay for radio broadcasts. "Strategically, I don't think it fits. It would be a marketing 180 and counter to their view that radio should be free," he said. So XM investors are in a difficult situation. Few deny the long-term growth prospects for satellite radio as more and more automakers begin to install units in their cars. But for the short-term, increased competition, rising costs and regulatory concerns all paint a gloomy picture for XM. Legitimate takeover chatter might be the only thing to spark any interest and so far, all the talk is merely idle speculation. "XM is a momentum stock without a whole lot of momentum right now," Bank said. 7/26/2006 02:38:00 PM
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Sirius Q2 Outlook
 July 26, 2006 Sirius will be having their conference call August 1, 2006 at 8:00 AM. SSG would like to outline the street expectations as well as some possible items to watch for. Please remember that these are opinions. LOSS
The loss expected currently by the street is 15 cents. The opinions of analysts range from a 13 cent loss upwards to a 19 cent loss. Sirius lost 13 cents last year.
We here at SSG were actually surprised that the 15 cent expectation has held. When Sirius announced subscriber numbers significantly higher than expectations, there should have been some impact on the financial metrics. Subscriber additions all have SAC associated with them, and in particular, the OEM subscribers tend to be more expensive. We are expecting a bigger OEM contribution to the subscriber base than in previous quarters, and thus the metrics should have revised upward perhaps to the 16 cent range. To date only a few analysts have taken this into consideration and issued reports subsequent to the subscriber announcements. We are expecting Sirius to come in at a loss of 15 cents per share, and feel that the possibility of 14 cents is far more likely than 16 cents.
A wild card here is capital expenditures. Sirius had budgeted $110,000,000 in capex for 2006, but has not given a breakdown of when that money will be spent. If capex expenditures were more weighted in this quarter, then expect that to impact the loss accordingly. We feel that capex expenditures in Q2 and Q3 will outweigh that spent in Q1 and Q4. REVENUE
The street is anticipating revenue of 146.7 million dollars with ranges between 140 million and 154 million.
We here at SSG feel that the street is not taking into account enough impact from advertising revenue and that Sirius will beat the streets expectations on this metric. Sirius announced at the Q1 conference call that they advertising revenue was booking quite well, and that they were guiding to ad revenue representing 10% of all revenue by the end of the year. Given Sirius’ tendency to beat such guidance, we feel that there are many not taking this into account. We are expecting to see revenue top street expectations slightly.
SUBSCRIBER BREAKDOWNSirius has already announced NET subscriber additions of over 600,000 for the second quarter. We expect that for the first time that the OEM channel MAY represent more additions than the retail channel. In our opinion the OEM channel will represent between 49% and 53% of the quarters subscribers. This effect is happening because the Sirius has a large number of 1 year OEM subscribers, and the ramp up of OEM installs was not as substantial last year as this year. From this quarter forward the OEM churns will begin to represent a bigger piece of the overall churn pie.
Sirius performed strongly at retail in the quarter. The retail additions for the quarter will prove this out. At this point there is still a strong demand for Sirius in the retail channel.
We had believed that there was a chance that Sirius would raise subscriber guidance at the call, and believe this is still possible, but less likely given the f the FCC’s requirements for FM modulated units. Should the FCC change the testing requirements, it is possible that Sirius and XM would have to once again recertify these radios. At this point Sirius has already reiterated their guidance of 6.2 million subscribers by years end.
Sirius, it appears, will have room to raise guidance in the OEM channel. The last guidance offered by Sirius in the OEM arena promised about 826,000 NET additions for 2006. Sirius will already be over 500,000 with this quarters announcement. This leaves a lot of upward room for Sirius. If the FCC issue is resolved and there are no hic-ups in the supply chain, Sirius may be able to raise guidance.
SACWatch for SAC costs to come in near expectations, but to be slightly higher than last quarter. This will be in part due to a much more substantial OEM ramp up than people are expecting, and as discussed earlier, the SAC for an OEM subscriber is greater than that of a retail subscriber.
Watch for Sirius to maintain the SAC guidance for all of 2006. If an improvement in guidance in SAC is to come, it would likely come at the Q3 call.
CHURN
Sirius has guided that churn will be at 1.8% for the year. For Q2 Sirius should be in the 1.8 to 1.9% range. Sirius will likely keep their 1.8% churn guidance in tact. It is important to note that the reported churn rates of Sirius and XM can not be directly compared. Sirius reports a “fully loaded” churn number that includes OEM promotional drop-offs. XM does not include OEM promotional drop-offs in their number.
Sirius may add some flavor to the OEM take rate, but we do not find it a likely event in this quarter. They are asked the question each quarter, and to date have indicated that they are comfortable with analysts using XM’s take rate in their assumptions. This is another case, in our opinion, of Mel Karmazin being very comfortable with that guidance because they are likely to beat it.
OVERALLOverall, watch for Sirius to focus on the financial metrics of the company, and to outline how Sirius will reach CFBE. Sirius will likely discuss hardware, and the release of their new Stiletto, as well as some other hardware tid-bits. Watch for analysts to ask about the FCC issue, and for Sirius to offer an update to that issue. Watch for analysts to speak about WIFI as well as “on-line only” subscription models. Sirius will also likely add some new flavor in the OEM sector.
Street reaction to the call will likely be positive, and could be very positive if some concrete dates for anticipated events and launches are given. Investors in this equity should watch the rest of this week with caution. XM Satellite has seen some shake-ups, and their call is scheduled for July 27, 2006. Many are expecting some lowered guidance on the part of XM, and bad news for XM has had a tendency of impacting the sector as a whole. 7/26/2006 01:37:00 PM
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XMSR: Is There An Opportunity Going Into Earnings?
XMSR is scheduled to report earnings tomorrow morning. Over the past few months, almost anything that could go wrong did, and the stock price has responded accordingly, hitting 52 week lows on an almost daily basis. Analysts are expecting the worst, and therein lies the opportunity. Sentiment is overwhelmingly negative; however, if management is able to offer credible explanations and reasonable guidance going forward, perhaps investors will be forgiving. After all, satellite radio is one of the true consumer growth opportunities of the decade. Here's what management has to cover on the conference call: 1. Explain management changes...what does this accomplish? 2. Discuss Q2 subscriber disappointment...what happened? 3. Update on FM modulator issues with FCC...what's the timing? 4. Update on RIAA, expected outcome 5. Marketing department shake up...discuss new direction 5. Future guidance, subs, churn, costs, etc. 6. Partnerships 7. New hardware 8. Sales of wearable devices, how are they going? 9. Opie & Anthony, what's the business deal? 1o. Guidance for CFBE...is it still 2007? If these issues are addressed proactively, perhaps the investment community will forgive and forget! 7/26/2006 12:20:00 PM
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Honda Profits Jump 29.6%
 July 26, 2006 Satellite Standard Group keeps you informed. Honda, who exclusively installs XM Satellite Radio saw impressive quarterly results. Sales of Honda have been very strong, and the popular brand surely adds a healthy number of subscribers to XM Satellite Radios base. Article Excerpt: TOKYO (AP) -- Profit at Honda Motor Co. jumped 29.6 percent during the quarter through June on booming sales of its fuel-efficient models in North America and Asia. Net profit at Honda grew to 143.4 billion yen ($1.2 billion) in the fiscal first quarter, up from 110.6 billion yen the same period the previous year, Japan's No. 3 automaker said Wednesday.
Quarterly sales climbed 14.8 percent to 2.6 trillion yen ($22.3 billion) from 2.26 trillion yen a year earlier. Honda is getting a robust lift from the popularity of its vehicles around the world, especially the Civic sedan and Fit compact in the U.S., where soaring oil prices are making smaller cars more attractive. The automaker chalked up its sixth straight record for first quarter earnings and sales.Interested SSG readers can read the entire article HERE via Yahoo Finance7/26/2006 09:42:00 AM
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Microsoft Zune Gets FCC Approval?
 July 26, 2006 Rumors surrounding Microsofts Zune have been all over the net. Rumors specific to satellite radio have also been a part of the rumor mill. To date there is no confirmation that Microsofts new "I-Pod Killer" will have SDARS capability. The quick eyes over at Gizmodo found some interesting stuff regarding the device including what appears to be documents filed with the FCC. Article exceprt: "Portable video player and game device Microsoft Zune has everyone all atwitter since the Redmondians officially announced the brand last week, and now sleuths at Mobilewhack found a document posted at the FCC that shows what is said to be the approval of Zune, where in the document it's called Microsoft Presenter 3000."The posting of this article on Gizmodo has already fueled debate. What seems to be certain is that Microsoft is moving along quickly.Interested SSG readers can read the entire article HERE via Gizmodo 7/26/2006 09:34:00 AM
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Martha Stewart Posts Narrower 2Q Loss
 July 26, 2006 Satellite Standard Group keeps you informed. Martha Stewart, who has an exclusive satellite radio deal with Sirius posted a narrower loss in the second quarter on the heels of returning advertisers. This news bodes well for Sirius in the sence that the Martha Stewart show does have advertising. The fact that she is generating more ad revenue in general would indicate that there are companies that see value in advertising with martha Stewarts ventures. Article Excerpt: NEW YORK (AP) -- Martha Stewart Living Omnimedia Inc. reported a narrower loss in the second quarter as the media company saw its revenues increase 47 percent, fueled by the continued return of advertisers. The New York-based company said Wednesday it had a loss of $1.17 million, or 2 cents per share, in the latest quarter, compared with a loss of $33.49 million, or 65 cents per share, in the year-ago period. Martha Stewart Living recorded revenue of $67.4 million, up from $45.9 million in last year's second quarter and exceeding estimates of $66 million from analysts polled by Thomson First Call. "We have a clear roadmap for growth that gives us confidence in the future of our business and in our ability to increase shareholder value," said Susan Lyne, president and CEO, in statement. "We have successfully navigated a difficult period and are enjoying significant gains in advertising revenue and new business opportunities."Interested SSG readers can catch the whole article HERE via Yahoo Finance7/26/2006 09:32:00 AM
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XMSR Earnings Preview
Tuesday July 25, 4:38 pm ET, AP Earnings Preview XM Satellite Radio Expected to Report Loss of 66 Cents Per Share in Tough 2nd Quarter
NEW YORK (AP) -- XM Satellite Radio Holdings Inc. reports second-quarter earnings Thursday. The following is a summary of key developments and analyst opinion related to the period. OVERVIEW: The company has consistently reported losses despite steady revenue gains. The same is expected for the second quarter. Once a stock-market darling, XM has seen its share price battered in the period. A large decline came in May after the company cut its subscriber outlook to 8.5 million total subscribers at the end of 2006 from a previous forecast of 9 million. Shortly thereafter, XM said subscriber growth slowed in the quarter to a net 398,000 -- down from 568,900 in the first quarter -- due to problems with product availability and softness in retail sales. XM finished the period with a total of 6.89 million subscribers, still ahead of competitor Sirius Satellite Radio Inc.. But Sirius closed the gap, adding 600,460, pushing its total to 4.7 million. On the regulatory side, XM said in May that it stopped making and shipping two radio models that the Federal Communications Commission said did not meet emissions standards. The devices use small FM transmitters that allow users to listen to XM's service through standard car radios. Earlier in the quarter, XM said the Federal Trade Commission was investigating whether its marketing practices were in line with rules governing telemarketing, the Truth in Lending Act and other statutes. XM also faces a lawsuit filed in May by the Recording Industry Association of America, alleging XM's Inno recording devices, or MP3 players, infringe copyrights. On Monday, the company named Nate Davis president and chief operating officer. BY THE NUMBERS: Wall Street expects XM to report a loss of 66 cents per share on $221.5 million in revenue, according to a Thomson Financial poll of 30 analysts. ANALYST TAKE: UBS analyst Lucas Binder expects the company will lower its full-year subscriber targets when it reports. He recently cut the company's rating to "Neutral" from "Buy." Bear Stearns analyst Robert Peck downgraded the stock in late May to "Underperform," saying the FCC issue "added to the uncertainty surrounding the stock." He expects a loss of 88 cents per share in the period. Despite the problems, Merrill Lynch analyst Laraine Mancini said she thinks satellite radio "is a viable business model and represents one of the few secular growth stories remaining in the media sector." She rates the stock "Neutral." STOCK PERFORMANCE: XM shares have been on a steady downward trend since April, shedding 36 percent in the quarter to finish June at $14.65. The stock has continued its slide in July, closing Monday's Nasdaq session at $10.88. 7/25/2006 08:51:00 PM
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Nate Davis...He Ain't No Mel!
It's a good thing that XMSR is shuffling management, although Nate Davis is no Mel Karmazin. Panero has been noticeably absent as the face of XMSR (maybe it's all those class action lawsuits). Perhaps this is a way, albeit not very bold, to shift some of the focus/responsibilities away from those who are associated with the recent management missteps.
Here is Bank of America's (infamous) analyst Jonathan Jacoby's take as posted in www.forbes.com: Market ScanNew Exec Seen As Positive For XM R.M. Schneiderman, 07.25.06, 11:46 AM ET XM Satellite Radio's new leadership could help the company recover from recent missteps, according to Banc of America Securities. On Monday, XM announced that it has hired Nate Davis to the new position of president and chief operating officer. Previously, Davis was COO of XO Communications. "XM's new management structure is a minor positive for the stock, in our view, as it adds a senior operational executive at a time when the company is clearly struggling with execution," said Jonathan Jacoby, an analyst for the research firm. Davis's appointment "effectively creates a system of checks-and-balances" with chief executive officer Hugh Panero, according to the analyst. While Panero will continue to directly oversee programming, sales, business, legal affairs and public relations, Davis will now control the company's retail, original equipment manufacturer marketing, product development, engineering, customer service, finance and accounting divisions, the analyst said. Banc of America maintained a "buy" rating on the stock and a target price of $22, say the stock will likely outperform Sirius Satellite Radio over the next six to 12 months. 7/25/2006 02:07:00 PM
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Sanders Morris Harris Says XMSR Concerns Overblown
XM Satellite Radio-XMSR concerns may be overblown-Hold@SMMI - (theflyonthewall.com 07/25 09:44:04) The firm said that the executive changes may be seen as a positive by investors looking fora change/catalyst. 7/25/2006 11:26:00 AM
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Looking At A Bigger Picture
July 25, 2006 With satellite radio it is very easy to get caught up in the small picture items. There is endless discussion about new hardware, subscriber numbers, and which service has better content. This is a narrow focus. Investors need to be aware of the small picture, but be open enough to see a bigger picture. SATELLITE RADIO AS A CONCEPTRegardless of which service you have, or which equity you invest in, you need to ask yourself if you believe in satellite radio as a concept. Do you think it can have mass appeal? Do you think that these services offer a consumer value in return for their subscription dollars? Do you believe that a virtually unlimited music, talk and sports line-up is something that consumers are looking for? Do you believe that the business can grow? Do you believe that satellite radio will become the norm? Simply stated do you believe in the concept? SUBSCRIBERS
Subscribers are the driver of this business. That being said, it is easy to look at the small picture and ask which service has more subscribers. What you should be asking is much “quality” the subscriber base brings. Not all subscribers are created equal. Subscribers that seek out the service tend to be longer term subscribers, and are essentially the highest quality subscriber you can obtain. OEM subscribers are good, but it has been proven over time that for every two you bring in that you will likely retain one. This makes an OEM subscriber less valuable at this point in time. Looking even deeper, you need to qualify what costs are associated with the various OEM deals. This is because not all OEM deals are created equal either. Simply by the structure of the deals, some OEM subscribers create a much better return on the investment than others. On the retail side you also have the promotional subscribers. There is a place for these types of subscribers. They do help growth, but the retention rate is not as high as the subscriber who seeks out the service. CONTENT
On average, it would appear that 35% of the subs will choose Sirius by default, and 35% will choose XM. The remaining 30% are the undecided. This is where something like unique content can be the differentiating factor. It may be a big name like Stern or Oprah, or it could be something smaller like a particular show or particular news feed. Unique accessory content is not what gets people to think about satellite radio. It is what helps that 30% that are undecided to make their choice. The big names, and unparalleled variety are the compelling reasons to consider satellite radio. The accessory content offered is what differentiates the services from one another. Content is a major driver in consumer sentiment with satellite radio. Consumer sentiment can have a rippling effect. Hardware partners, OEM partners pay close attention to where the sentiment is. In the bigger picture you should take an honest look at the content as it applies to the 30% of the undecided people. As discussed earlier, each service has a dedicated following of about 35% each. The likelihood of that loyal following changing horses is not very good unless the compelling reason they are where they are changes. Focus on the 30% that are undecided, and look at which way they are leaning. Always remember that the mindset of this 30% segment can fluctuate month to month. There are many other big picture items to look at and consider, and in particular the financial stability of these companies and the viability of their operations, cash flow, etc.. This article was about applying a bigger picture to some of the items that tend to be looked at with a narrower focus. 7/25/2006 11:15:00 AM
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More Analyst Comments This Morning: Bank of America
XM Satellite subscriber estimates cut at BofA (11.20 ) ( www.briefing.com) Banc of America lowers their year-end 2006 and 2007 subscriber estimates for XMSR to 8.2 mln (from 8.3 mln) and 10.8 mln (from 11.0 mln), respectively. They say that Toyota's relationship with XM is strong, but they now believe the big factory installation ramp-up will occur with model year 2008 vehicles rather than 2007 vehicles. 7/25/2006 09:37:00 AM
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Credit Suisse Initiates Satellite radio Coverage
 July 24, 2006 Satellite Standard Group keeps you informed. Credit Suisse today initiated coverage on the satellite radio sector with what is perhaps the most comprehensive report yet this year. The highly detailed and well written report discusses various metrics that investors should become more aware of. Report Excerpts: Satellite Radio Coverage Initiation:Satellite Radio Will return To Orbit But It's Too Early To Buy XMWe are initiating coverage of Sirius Satellite Radio (SIRI) at OUTPERFORM and XM Satellite Radio (XMSR) at NEUTRAL with target prices of $6 and $17, respectively.Positive Secular Growth Outlook -We are bullish on the secular growth prospects for satellite radio and the long-term economics of the business model. We estimate satellite radio subscribers and revenue will grow at 32% and 45% CAGRs from 2006-2010, and long term EBITDA margins will reach the 35% level with capex/sales of 2%-3%. Favorable Risk/Reward -We believe that, intrinsically, there is significant upside to current valuations for both stocks. However, there is a wide range of potential outcomes that yield a wide range of stock prices. We’ve modeled five scenarios for each company and the range of outcomes varies from 25% downside to 155% upside for Sirius, and 25% downside to 230% upside for XM. We probability weighted these scenarios to arrive at our target prices. An Earnings Momentum Story -Driven by secular growth. Subscriber growth, pricing, churn, and CPGA are the key drivers of earnings estimates. This is not a valuation story given the lack of support from traditional valuation metrics; we suggest caution in calling the bottom for these stocks when more bad news is ahead and vice versa in attempting to call the top. OUTPERFORM on Sirius-We believe earnings momentum will be positive for the next 12 months. We expect Sirius to beat 2006 guidance and, 2006 and 2007 consensus estimates for subscribers and revenue because we believe Sirius will maintain retail share of gross adds in the 55% range and there is upside in OEM. Our 2006 estimates are 5% above guidance and 3% above consensus for net additions, and 2% above consensus for revenue. Our 2007 estimates are 5% above consensus net additions. We believe Sirius will announce a price increase in the 2007/2008 timeframe, which will drive further positive earnings momentum. NEUTRAL on XM-We believe that earnings momentum will be negative in the short term. We expect XM to miss its 2006 subscriber guidance of 8.5M; as well as consensus estimates for subscribers and revenue of 8.39M and $935M in 2006, and 11.16M and $1,325M in 2007. Our 2006 estimates are 6% below consensus for net additions and 2% below consensus for revenue. Our 2007 estimates are 3% below consensus for net additions and 7% below consensus for revenue. Over the long term we believe that XM is better positioned than Sirius in the OEM channel and will have greater earnings potential as the OEM channel matures (i.e. 2015-2020). However, we think it will take a longer period of time for XM’s business model to come together and its earnings power to emerge. Valuation Gap Is Justified -We believe that a valuation premium for Sirius is justified based on an analysis of per subscriber valuations. The terms of XM’s agreement with GM are so onerous that we estimate the GM subscribers have an incremental value (before indirect costs) of only $150, vs $600-$700 for a non-GM OEM subscriber and $900-$1,100 for retail. Investors who follow this sector can learn more by visiting Credit Suisse HERE 7/24/2006 07:36:00 PM
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Oprah Generates Press
 (This is last weeks news...) Oprah Says She and Friend Not Gay
The Associated PressMonday, July 17, 2006; 3:40 PM NEW YORK -- Oprah Winfrey and her friend Gayle King want to be clear: they're not gay. In the August issue of O, the Oprah Magazine, the talk-show host explains that some people misunderstand her close friendship with King. "I understand why people think we're gay," she says. "There isn't a definition in our culture for this kind of bond between women. So I get why people have to label it -- how can you be this close without it being sexual?" In a long article, Winfrey, 52, and King converse about their 30 years of friendship and "four-times-a-day phone calls." King, who hosted "The Gayle King Show" in 1997, is an editor of O, the Oprah Magazine. The two friends say they would have no problem telling the public if they were in a sexual relationship. "The truth is, if we were gay, we would tell you, because there's nothing wrong with being gay," says King. Says Winfrey: "Something about this relationship feels otherworldly to me, like it was designed by a power and a hand greater than my own. Whatever this friendship is, it's been a very fun ride." 7/24/2006 03:27:00 PM
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NFL Ramps Up On Sirius Channel 124
SIRIUS NFL Training Camp Tour 2006 (Posted by www.siriusfannetwork.com) Monday, 24 July 2006 Get a firm grip on the laces, because Sirius is taking NFL Radio, channel 124, on the road. Team SIRIUS leaves the studio and piles into the tour bus to broadcast live from NFL training camps across the country. SIRIUS hosts Jerry Rice, Cris Carter, Randy Cross, Gil Brandt, Tim Ryan, Pat Kirwan, Vic Carucci, Paul Allen, Jeff Dubay, Adam Schein, Solomon Wilcots and Steve Cohen blitz practice fields, locker rooms and front offices for all-access interviews with players, coaches and executives—as veteran stars work into top shape and players battle for starting positions or to make the squad. July 27 Philadelphia Eagles Lehigh University The Afternoon Blitz July 28 Oakland Raiders Napa Valley Marriott The Red Zone July 29 New York Giants University at Albany The End Zone July 30 New England Patriots Gillette Stadium The End Zone July 31 New York Jets Hofstra University The Afternoon Blitz Aug 1 Buffalo Bills St John Fisher College The Red Zone Aug 1 Chicago Bears Olivet-Nazarene University The Afternoon Blitz Aug 2 Indianapolis Colts Rose-Hulman Institute of Tech The Afternoon Blitz Aug 2 & 3 Pittsburgh Steelers Saint Vincent College Moving The Chains Aug 3 Cincinnati Bengals Georgetown College The Afternoon Blitz Aug 4 Cleveland Browns Browns Team Facility Moving The Chains Aug 5 Hall of Fame Festivities Pro Football Hall of Fame Full Day of Coverage Aug 7 Minnesota Vikings Minnesota State University The Red Zone Aug 7 Houston Texans Houston Texans team facility The Afternoon Blitz Aug 7 Jacksonville Jaguars Alltel Stadium Moving The Chains Aug 8 Tampa Bay Buccaneers Disney's Wide World of Sports Moving The Chains Aug 8 Denver Broncos Pat D. Bowlen Memorial Centre The Afternoon Blitz Aug 9 Atlanta Falcons Atlanta Falcons Team Facility Moving The Chains Aug 9 Dallas Cowboys Marriott Residence Inn Oxnard CA The Afternoon Blitz Aug 10 Carolina Panthers Wofford College Moving The Chains Aug 10 Miami Dolphins Miami Dolphins team facility The Red Zone Aug 10 San Diego Chargers Chargers Park The Afternoon Blitz Aug 14 Baltimore Ravens McDaniel College Moving The Chains Aug 14 Kansas City Chiefs University of Wisconsin-River Falls The Red Zone Aug 15 San Francisco 49ers San Francisco Forty Niners The Afternoon Blitz Aug 15 Green Bay Packers Lambeau Field Moving The Chains Next >7/24/2006 02:56:00 PM
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Peterbilt Gets More Sirius
 July 24, 2006 Sirius Satellite Radio Inc. (SIRI) said Peterbilt Motors Co. will include Sirius radios as a standard feature in new class 8 truck models equipped with premium-quality sleepers. Peterbilt, a unit of Paccar Inc. (PCAR), will continue to offer the radios as an option on all other class 8 Peterbilt vehicles. Peterbilt will also offer prepaid activation and three months of free service on all its vehicles that are equipped with Sirius radios starting Aug of 2006. Class 8 trucks have seen a lot of growth over the past few years. Peterbilt sold over 3,300 Class 8 trucks in May, and sales continue to climb. The trucking industry is very familiar with satellite radio, and many truckers were among the first subscribers to Sirius and XM. Watch for amenities such as included satellite radio to continue to be offered in this OEM sector. 7/24/2006 02:45:00 PM
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XMSR and ASCAP Reach Music Licensing Agreement
 July 24, 2006 XM and ASCAP Announce New Long-Term Music Licensing Agreement (PR Newswire 07/24 13:15:59) NASHVILLE, Tenn. and WASHINGTON, July 24 /PRNewswire-FirstCall/ -- XMSatellite Radio (Nasdaq: XMSR) and the American Society of Composers, Authors& Publishers (ASCAP), today announced that they have entered into a new five-year music licensing agreement. The agreement provides for XM Satellite Radio to pay licensing fees(royalties) to ASCAP for the public performance of copyrighted musicalcompositions in the Society's repertory of over seven million works. "XM's commitment and support of the music industry have helped providemillions of music fans an exciting new way to enjoy the music created byASCAP's 250,000 songwriter, composer and publisher members," said VincentCandilora, Senior Vice President and Director of Licensing of ASCAP. "Andthere's no question that the talent of ASCAP's members has had a strong impacton XM's subscription growth. We sincerely appreciate their recognition of thecontributions made by our members." "XM is pleased to renew our agreement, which compensates ASCAP's composersand lyricists for their important contributions," said Eric Logan, ExecutiveVice President of Programming at XM Satellite Radio. "We look forward tocontinuing our productive and mutually beneficial relationship with ASCAP andits members." About the American Society of Composers, Authors & Publishers (ASCAP) Established in 1914, ASCAP is the world's largest performing rightsorganization with over 130,000 composer, lyricist and music publisher members.ASCAP's repertory spans the entire spectrum of music -- from pop to symphonic,rock to gospel, Latin to country, to jazz, rhythm and blues, theater, film andtelevision music. ASCAP's Board of Directors is made up solely of writers andpublishers elected by the membership. 7/24/2006 02:16:00 PM
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Update on "Perform Act": Radio Execs Urge Delay on Music Vote
On July 7th, we posted an article: "FCC Meeting, July 13th, Deletion of Scheduled Item "Satellite Radio's Impact on Terrestrial" (Link to our post: HERE).I think this went largely unnoticed, but today, in Billboard Monitor, we caught this: Radio Execs Urge Delay In Music VoteJuly 24, 2006By Brooks Boliek, The Hollywood Reporter A dozen of the nation's most powerful radio industry CEOs are urging leaders of the Senate Judiciary Committee to postpone consideration of legislation that requires satellite, cable and Internet broadcasters to pay fair market value for digitally transmitting music.The leadership of the Senate Judiciary Committee has been considering a committee vote Thursday (July 27) on the bill known as the Perform Act. While committee aides said Friday (July 21) that a decision on exactly what would come up during Thursday's bill-writing session had yet to be decided, broadcast and record label executives said the committee's leadership was considering bringing the bill up.The legislation sponsored by Sens. Dianne Feinstein, D-Calif., and Lindsey Graham, R-S.C., and Senate Republican leader Sen. Bill Frist, R-Tenn., is being pushed by the RIAA, music publishers and musicians groups.Broadcasters oppose the legislation because they fear it will force them to have to pay for music transmitted digitally over the Internet. The bill also would force services like XM2go to pay an additional royalty to rights holders when customers digitally record music using those services.Broadcasters contend that moving the legislation would be "premature" given that there is little agreement between the industries affected by the legislation."After a number of meetings and discussions, the parties remain divided," the broadcasters wrote in a letter mailed Friday. "The lack off accord is largely due to the complex nature of the subject matter. Many within the various industries and congressional staff have questions that simply remain unanswered."While passage of the legislation is far from assured, given the short time left in an election-year Congress, a vote by the committee on the legislation would put more pressure on broadcasters to make a deal.Record industry executives say the broadcasters' are stonewalling the bill in an attempt to get Congress to do for them what the courts wouldn't. While broadcasters don't have to pay the record labels for music they air on terrestrial radio broadcasts, the federal appeals court in Philadelphia in 2003 upheld a lower court ruling that said radio stations have to pay royalties to the labels and recording artists when they stream their programming over the Internet."They took us to court in Philadelphia, and they lost," one record industry executive said. "They've made it clear to us that they do not want to let a Section 114 (the part of the copyright code that governs many music royalty payments) legislation move unless they can expand the exemption for over-the-air broadcasts to Internet streams."The broadcasters told Judiciary Committee chairman Sen. Arlen Specter, R-Penn., and Sen. Patrick Leahy, D-Vt., the panel's senior Democrat, that the panel should wait until after the lawsuit between XM and the record labels over the satellite radio company's digital recording service is completed."Final resolution of this lawsuit could well impact the interpretation of what constitutes fair use and thus how any digital audio protection system should be designed under copyright law," they wrote.The record labels say the broadcasters are simply confusing the matter. The XM suit and broadcaster's royalty obligations are two different things, they argue."That's all B.S.," the industry executive said. "The XM suit doesn't have anything to do with what broadcasters are trying to do. They just don't want to pay us."CEOs signing the letter include Clear Channel's Mark Mays, Cox Radio's Robert Neil, Emmis Communications' Jeff Smulyan and Entercom Communications' David Field. (Link to article: HERE) Here is the letter to Arlen Spector ( LINK) 7/24/2006 02:16:00 PM
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Motley Fool Comments on XMSR
  July 24, 2006XM's Weak Signal
By Rick Aristotle Munarriz (TMFBreakerRick) July 24, 2006 If you had to score the soundtrack to XM Satellite Radio (Nasdaq: XMSR) over the past two years, I'm guessing that it might include a few songs like: "A Whiter Shade of Pale," by Procol Harum "Sugar, We're Goin' Down" by Fall Out Boy "I Write Sins, Not Tragedies" by Panic! At the Disco Fill in the empty spaces with a Gregorian chant or a traditional dirge, and you have one heckuva mix tape. You have to go back three summers to find the last time that shares of the largest player in the satellite radio duopoly traded this low. If you're feeling especially twisted, go back to December of 2004. That was when shares of XM peaked above the $40 mark, granting the company a market cap of $8 billion as it lapped the 3 million subscriber mark. Now compare that with the company's "after" snapshot. Today, XM commands an audience that is more than twice as large, even though its market cap is just shy of $3 billion. The average subscriber is paying more for the luxury of XM's growing slate of channels, too. The flipside to this, of course, is that even though XM has grown over the years, so have the losses. That is problematic. XM and Sirius (Nasdaq: SIRI) have appealed to investors as fast-growing plays with cost structures that are high on fixed overhead but margin-friendly sweet on the other side of the breakeven line. These days, XM isn't growing all that quickly, and that breakeven point seems to paint XM as a jittery fiancee who keeps moving back the wedding date. We're going to tackle XM's problems today. We're going to fix them, too. That's right, fix them. Someone's got to do it, and if CEO Hugh Panero isn't going to do it, you and I may as well give it a shot. Another brick in the fallThings haven't gone well for XM lately. Despite being the market-share leader, rival Sirius has added more net new subscribers over the past two quarters. It's at this point where a few XM fans will write me about the heinous way in which Sirius counts its subscribers. Save it. The disparity is too great at this point to quibble over the practices, especially since it's XM that has had to scale back on its year-end subscriber targets. Twice. It's worse than that, though. Just when you think XM is finally going to turn itself around and take a step in the right direction, it finds a way to go in through the out door of ineptitude. It let Sirius walk away with the NASCAR dads. It started throwing legal fisticuffs at the music industry that it relies on to woo new subscribers. The FCC cracked down on emission standards on the next-generation line of XM receivers. It got so bad that a director bolted from the board back in February as he warned of a "significant chance of crisis on the horizon." Can XM do anything right these days? It was an early investor in global satellite-radio provider WorldSpace (Nasdaq: WRSP), which went public at $21 last summer and now trades for about the price of a Big Mac without the fries. Talk about giving Refco a run for its money for the title of Worst Recent IPO. XM can use a little R-E-S-P-E-C-TXM is prettier than it thinks. It just needs one of those Pretty in Pink makeovers. The company recently reshuffled its marketing department, and it probably couldn't have come at a better time. XM has let bears, Sirius, and even terrestrial radio bully it around, needlessly. Back in March, Clear Channel (NYSE: CCU) slapped XM with the ultimate insult in forcing four of its commercial-free music channels to run ads. Clear Channel was one of the first investors in XM and a content provider. Clear Channel? WorldSpace? A board director who tramples over women and children to hop on the first lifeboat? Nice job choosing your friends, XM. Next time, try a collie. The Clear Channel sandbag is all too telltale because it exposes XM as a wimp. If saying that means that we'll never see The Motley Fool Finance Channel on XM, I'll take it as a compliment, because it means that XM finally decided to cowboy up and learned how to throw a punch. Think about it. That one devious move by Clear Channel finds Sirius billing itself as the only source for "100% commercial-free music" now. XM quietly fought back by adding some new music channels, but where are the snarling teeth to let the public know that the Sirius dog's bark is worse than its bite? You have to get to the bottom of every press release to see XM claim that its lineup includes "more than 170 digital channels" while Sirius is "more than 125 channels" of programming. One would think that XM would be shouting this disparity from the rooftops instead of spending an insane amount to let us know that David Bowie swiped Snoop Dogg's bling. The XM marketing message needs to educate and draw blood at the same time. Fight back at Sirius. Fight back at terrestrial radio instead of tossing it the Opie & Anthony lifeline. You're not ugly, XM. Sure, you don't have Howard Stern, but nobody's perfect. Come out with fists flying, because you have clearly seen what the sad result of letting others swing at you has produced. When Sirius landed the NFL, it went with ads starring John Madden, Tom Brady, and several New England Patriots wide receivers wondering why Sirius was Brady's new favorite receiver. I'm sorry if I can't recall the XM baseball spots. All I know is that XM should go for the jugular, dismissing the NFL as mostly a Sunday sport with a tenth of the regular-season games as the daily game of baseball. Who commutes on a Sunday? Roll with that as a catch phrase if you want, but then showcase why baseball on XM is superior to local baseball on terrestrial radio by showing how fans can turn the knob to receive visual scoring updates from all of the games taking place. Bowie? Snoop? Bob Dylan? Having musical celebrities with their own shows on XM is great, but you can't hang marketing on personalities that are better known for the musical performances that can be heard anywhere else. The emphasis has to be on highlighting proprietary talk celebrities. You've got a few. You need more. Oprah Winfrey should help when she arrives in September, but you need exclusivity as you raid terrestrial radio for the handful of true stars still out there. For the love of God, XM, you know who they are. Pay them. And pay what it takes to grant them an early release to get them on your airwaves as quickly as possible. Teaching the Sirius dog to play deadNo one sees nasty ad campaigns as a moral victory. They feel desperate. Naming names isn't what the top dogs do. Well, here's an announcement: You're no longer the top dog, XM. There's a smaller company with a larger market cap eating your lunch, and you're handing it the tater puffs. You have become the 7-footer in gym class who's afraid to dunk, and it's pathetic. Am I crossing the line? Am I being overly vicious? Take notes. You'll need them. This isn't all about spiking your marketing message, landing you-know-whos, and ringing up our biz-dev department about that TMF financial-network thingy. It's also about a Wall Street makeover. If I hear someone else bring up the argument that satellite radio is toast because of the iPod, I'm going to scream. Allow me to provide some talking points. Yes, Apple Computer (Nasdaq: AAPL) has grown from zero iPods to 50 million units sold in the same time that XM and Sirius have gone from zip to 11.5 million collective subscribers. But isn't that proof alone that they are not mutually exclusive technologies? Isn't one whetting the aural appetite for the other? If digital downloading is a dagger, do a better job in detailing the potentially lucrative deal you have in place with Napster (Nasdaq: NAPS). Apple may be the one company that you don't need to sucker-punch, but feel free to let it rip when it comes to tearing up the HD radio and Internet radio models for their obvious shortcomings. In a nutshell, stop being nice. The market isn't being nice to you. I'm not being nice to you, either, and I'm the guy who recommended your shares to subscribers of the Motley Fool Rule Breakers growth stock newsletter service late last year. I still believe in you, but more so in the mold of what I think you are capable of than the shell of that vision that you settled for. Take a swing. Hit me for practice. I would welcome the chance to fetch an ice bag as I work on a new mix tape. Link to article: HERE7/24/2006 12:26:00 PM
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Analyst Comments This Morning, AmTech
Analysts are expecting disappointing metrics when earnings are announced for XMSR (July 27th) and SIRI (Aug 1). However, could it be that these negative expectations already "baked" into the stock prices? Will it be a case of "sell the rumor" and "buy the news" once earnings are finally announced? Will the earnings release trigger a relief rally and creating a buying opportunity into the robust holiday season? Here is what AmTech had to say this morning: "Live In Play 24-Jul-06, 09:48 Previews on XMSR and SIRI: Remain Cautious on Both Stocks - AmTech AmTech notes that XMSR reports this Thursday and SIRI reports next Tuesday. Declining year-year growth in retail net adds appears to have turned negative this quarter. The impact of FCC inquiries on the miss for XMSR and current status will be important for both stocks. SIRI filed an 8-k last week indicating certain employees instructed suppliers to continue production of non-compliant radios. It appears SIRI decided to ignore the FCC until after Father's Day. Firm lowers their ests for both cos, with a more aggressive cut for XMSR and only slightly for SIRI. Firm expects XMSR will guide-down. Depending on impact of FCC compliance issues, SIRI may either reiterate guidance or temper expectations somewhat. As mix shifts from retail to OEM firm would like to see more disclosure from SIRI, who is very aggressive in counting subs. Typically 15-months or more before OEM promotions choose to become self-paying. SIRI does not disclose how many subs are in promotional periods or the rate of conversion into paying subs." 7/24/2006 09:41:00 AM
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Ford Using Showrooms As "Point of Purchase" Sales Tool For Sirius
 July 24, 2006 www.siriusfannetwork.com posted this today: Ford Showrooms Plug into SIRIUS Music
Monday, 24 July 2006 ( link) Applied Media Technologies Corporation (AMTC) has announced an agreement with Ford Motor Company to provide Ford and Lincoln Mercury dealers in the U.S. with SIRIUSBusiness for showroom music. The agreement presents an opportunity for Ford and Lincoln Mercury dealers to use their showroom music as a 'point of purchase' sales tool to promote sales of SIRIUS receivers and service to vehicle purchasers. SIRIUSBusiness consists of 67 channels of 24-hour, commercial-free music from SIRIUS Satellite Radio . Under the agreement, AMTC will also provide sound equipment Ford dealerships."Switching to SIRIUS for music in my showroom was a no-brainer. The cost is a lot lower than I was paying for Muzak. We love it", boasted Janet Bending, of Coastal Ford in Mobile, AL. "Ford clearly recognizes that if its dealers use SIRIUS as background music, it serves as a powerful tool to promote the partnership between SIRIUS and Ford. The dealers love it because it helps them sell SIRIUS in the vehicles, and also presents a huge savings opportunity compared to traditional background music services such as Muzak," explains Clayton Francis, Automotive Industry Sales Manager at AMTC. "This is a deal where everybody wins." 7/24/2006 09:11:00 AM
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XM Hires Nate Davis as President and COO
 July 24, 2006 XM Satellite Radio has announced today that they have hired Nate Davis as President and COO. The move has been well received by the street in pre-market trading. XM's current management has come under increasing scrutiny over the past year, and many were waiting for some form of shake-up at management. WASHINGTON, July 24 /PRNewswire-FirstCall/-- Hugh Panero, Chief Executive Officer, XM Satellite Radio, today announced the appointment of Nate Davis to the newly created position of President and Chief Operating Officer. Nate Davis is a seasoned telecommunications executive, having served in senior management roles at XO Communications, Nextel and MCI. He was President and COO of XO Communications from late 1999 through early 2003. During his tenure, XO became a $1.38 billion integrated communications provider offering voice, data, internet access, and web hosting services to all segments of the business market. "I know first hand the kind of action-oriented, business leadership that Nate will bring to his new role," said Panero. "He has a deep understanding of our business as a member of our Board of Directors since 1999. He has a truly impressive track record in operational management and a unique background in finance, technology, and launching new and innovative products. I can't think of anyone better qualified to help take XM to the next level." "I am passionate about XM and the wonderful content it delivers to its subscribers. I look forward to working even more closely with Hugh and the dynamic management team that created this industry," said Davis. "While there are near term operational challenges to work through, the growth opportunities in front of us are tremendous." At Nextel Communications, Davis was the Executive Vice President of all technical operations which included engineering, operations, procurement, and IT. Davis also served as CFO of MCI Telecommunications, President and COO of MCImetro, and in a host of roles at MCI and AT&T earlier in his career. He most recently served as Executive In Residence at the venture capital firm Columbia Capital. In addition to continuing as a member of XM's Board of Directors, Davis serves on the boards of Mutual of America Capital Management Corporation and Charter Communications. Davis received his MBA from the Wharton School at the University of Pennsylvania, his Masters in Engineering Computer Science at the Moore School at Penn, and a Bachelors of Engineering from Stevens Institute of Technology in New Jersey. About XM Satellite Radio XM (Nasdaq: XMSR - News) is America's number one satellite radio service with more than 6.89 million subscribers. Broadcasting live daily from studios in Washington, DC, New York City, the Country Music Hall of Fame in Nashville, Toronto and Montreal, XM's 2006 lineup includes more than 170 digital channels of choice from coast to coast: the most commercial-free music channels, sports, talk, comedy, children's and entertainment programming; and the most advanced traffic and weather information. XM, the leader in satellite-delivered entertainment and data services for the automobile market through partnerships with General Motors, Honda, Toyota, Hyundai, Nissan, and Porsche, is available in more than 140 different vehicle models for 2006. XM's industry-leading products are available at consumer electronics retailers nationwide. For more information about XM hardware, programming and partnerships, please visit http://www.xmradio.com. Factors that could cause actual results to differ materially from those in the forward-looking statements in this press release include demand for XM Satellite Radio's service, the Company's dependence on technology and third party vendors, its potential need for additional financing, as well as other risks described in XM Satellite Radio Holdings Inc.'s Form 10-K filed with the Securities and Exchange Commission on 3-3-06. Copies of the filing are available upon request from XM Radio's Investor Relations Department. source: XM satellite Radio 7/24/2006 08:53:00 AM
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Microsoft Finally "Confesses" to "iPod Killer"
  Microsoft-MSFT says it is working on a portable music player- Bloomberg -(theflyonthewall.com 07/21 15:17:55) "Microsft said the product would compete with Apple's (AAPL) iPod and that the first products will be on sale this year. Comments made in an emailed statement." From: Endgadget: "Well, it's not much, but we've got a quote and an official confirmation of the Zune project at Microsoft. It's the Zune brand is being billed as a "music and entertainment" project aimed at "connecting with others to discover new music and entertainment and will deliver a family of hardware and software products," with the first hardware launch being made this year. Here's what they sent over, by way of Microsoft's GM of marketing, Chris Stephenson:"Today we confirmed a new music and entertainment project called Zune. Under the Zune brand, we will deliver a family of hardware and software products, the first of which will be available this year. We see a great opportunity to bring together technology and community to allow consumers to explore and discover music together."We've got a lot of questions waiting to be answered, and we'll post updates here as we find out more information from our peeps at Microsoft. In the mean time, keep yourself occupied with their official announcement in Billboard Magazine, as well as two new Zune blogs sprouted by people working on the project.Update: Billboard confirms that "additional Zune-branded devices will follow, including a portable video player and, potentially, a portable game device," as well as an initial device offering WiFi and drive-based storage. The WiFi won't just be for moving around music files, as in the MusicGremlin, however. Apparently other "seven or eight" wireless usage scenarios are envisioned, as suspected, and aims at providing "ubiquitous access to digital media from a wide range of Windows-powered devices in what ultimately aspires to be one part MySpace, one part iTunes and one part Xbox Live." Yikes. Zune will definitely be a general media player, though at launch music will be the "primary content," later also including video and "other types of media." More to come..." Satellite radio stocks sold off on this announcement, as it poses a potential threat , however, the ZUNE is squarely aimed at Apple, and it is rumored that the microsoft unit may have an integrated satellite radio receiver to further distinquish itself from iPod.7/21/2006 03:39:00 PM
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SSG Announces New Subscription
 July 21, 2006 Satellite Standard Group is pleased to announce a new subscription powered by Squeet. The advantages of Squeet are really quite simple. Previous subscriptions updated readers once a day. Subscribers have been asking for more frequent updates, and we have found a solution. Squeet allows you the reader to set the frequency of your alerts, and even offers a live alert function, meaning you can get an e-mail of new SSG posts as they are happening. Many readers have requested this simply because of the frequency of information we sometimes post, and the fact that some information is time sensitive. Those interested in subscribing can even "BUZZ" an article they like. "Buzzing" an article lets other readers know that the piece is worth reading.  We encourage those that subscribed to the previous services to switch over to the Squeet service. We feel that the options offered to readers on Squeet better serves you our reader. SSG readers can subscribe in the appropriate section located in the right sidebar. You will also notice an orange icon. This icon is the site feed, and is also a valuable tool. We encourage you to also subscribe to that service. If you have any comments or questions please direct them to satellitestandard@gmail.comThank you. 7/21/2006 02:40:00 PM
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FLW Makes the Front Page of the Wall Street Journal
SSG has posted a few articles on FLW Outdoors (Sirius is it's official sponsor), and now it has made the front page of the Wall Street Journal! Fishing has it's loyal followers! PAGE ONE, DOW JONES REPRINTS Trolling for Stats:Fantasy Fishing Hooks Landlubbers
In This League, Bass Weight,Weather Really Matter; The 'Home-Lake Curse'
By KEVIN J. DELANEYJuly 20, 2006; Page A1 ROGERS, Ark. -- Under an enormous tent in a Wal-Mart parking lot earlier this year, some of the country's top fishermen hoisted their freshly caught largemouth bass. Fans and television cameras looked on as the anglers competed for a $200,000 check. Standing near the back was another fishing champion, Bob Fowler. But the contest he won didn't require him to land any fish or even get anywhere near the water. Mr. Fowler is among the growing number of Americans hooked on a pastime known as "fantasy fishing." Full Article: HERE7/21/2006 02:24:00 PM
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Satellite Radio Transforming Navigation Systems
GPS Navigation systems are among the hottest selling products. Now, Satellite Radio is being integrated for real time traffic feeds. Getting where you need to go without getting lost is important, but finding the route with the least amount of traffic is truly revolutionary! The Good Life You Can't Miss ItBy Jonathan Blum, Special to TheStreet.com7/21/2006 9:34 AM ( link) People of means used to live by a few simple rules: Don't spend the principal, don't pay retail and don't be indiscreet. The list just got longer: now it's a major faux pas to get lost. Modern navigation systems have turned getting lost into the ultimate expression of bad form. You used to have an excuse when you couldn't find your way -- navigation is complex. It requires understanding thorny concepts like longitude and latitude, universal time, bearings and, oh yes, basic algebra. It makes sense that normal people's eyes would glaze over when it came to Mercator projections, logarithmic speeds and the ins and outs of dead reckoning. Of course, I love it all. Even my friends call me The Navigeek. To my face. Are We There Yet? But my wayward friends don't need me so much these days. Intelligent electronic navigations systems, which can do all the work for you, are now ubiquitous. There are handheld units from the traditional global positioning system makers, such as Garmin (GRMN) and Magellan. There are in-car units from electronics companies, such as Pioneer and Alpine built into pricier vehicles. There are live traffic feeds from satellite and terrestrial radio companies, such as XM (XMSR) . Even cell-phone operators offer excellent navigation products in their phones. With today's nav systems, there are no excuses. If you're lost, late, bickering about being lost or late, or even unaware of your down-to-the-second ETA, it is your own dang fault. Though technoilliterate dramas like "24," "Alias" and "Lost" like to lie to us about what a GPS can do, navigation systems are simple once you understand what they need to have to work. Listen up JJ Abrams, I love you, baby, but if I have to put up with another Sydney Bristow or John Lock doing completely unrealistic things with their nav systems on "Alias" or "Lost," I am going to dress up in a cheap pink wig and run away to a metaphorical jungle island paradise. GPS systems need a clear shot at the sky and time to acquire sufficient satellite signals to work up a location. Invariably, when there are problems with GPS, it's because users rush the system or forget that they are working indoors, under some trees or next to a row of tall buildings. The best advice for GPS users: be patient and be outside. A Pioneering Entry To test the current crop of GPS nav units, I picked two of the latest integrated systems, the in-car, in-dash Avic-Z1 from Pioneer ($2,500) and the ultrasleek, ultraportable Garmin Nuvi 360 ($965). First, the Pioneer. Avics are integrated entertainment navigation systems that come hardwired and installed into a car's dashboard. (I tested the Z-1 mounted on a late-model Scion.) The unit combines entertainment and route-finding systems in one centrally controlled system. AM, FM, XM, Sirius, digital video disc, compact disc, rear-screen controls, rear back-up camera -- all of it passes through the Avic. It even comes with 10-gigabyte hard drive for digital content. The Z-1 is all controlled by a decently executed touch-screen panel. It does work, but with all due respect  to "Star Trek," touch screens are not my thing. The screen gets grimy; I miss the positive response of a physical control. And after a while, looking at all those fingerprints grosses me out. Screens notwithstanding, the Z-1's navigation system is excellent. It's easy to read. It boots instantly. It comes stocked with complete maps of North America and, count 'em, 11 million points of interest: banks, restaurants, hotels, you name it. Simply type in your destination -- in my case the Larchmont Yacht Club -- and up comes several routes to get there. The Z-1 matches the possible routes with live traffic data supplied by XM and picks the quickest way. And if that weren't enough, a kindly yet authoritative voice, dubbed "Vicki," tells you where to go turn by turn. Just listen to Vicki, and you'll be fine. One in the Hand The Garmin Nuvi takes a more portable approach to navigation. At about the size of a good set of French playing cards, the Nuvi seeks to be nimble rather than bombproof. The Nuvi is part of a new generation of handheld GPS's: part nav system, part portable entertainment device. The Nuvi comes with a picture viewer, a calculator, a secure digital-media slot, an  MP3 player and an Audible book reader, as well as optional travel guides, translation software and, get this, mobile coupons. So you don't get lost and you save money. My wife would love this one. As great as these functions sound, let's be real: The Nuvi is not an iPod. The multimedia features were rugged. The audio player was closer to a Flash drive than a real media device, the picture viewer was basic -- although I must admit, I got a kick using a nav device to listen to Dr. John. But navigationally, the Nuvi was impressive for a small unit. It comes similarly equipped as the larger Pioneer unit with points of interest and maps of North America. It is easy to use, easy to read and easy to carry. It even had its own girl: the authoritatively voiced "Diane." I found the library of locations a bit thinner than that of the Pioneer. It did not know where the Larchmont Yacht Club was by name. (Shocker.) I had to enter the address by hand (the things I do for this job). The major drawback of handheld portable units like the Nuvi is that they do not integrate with the other media devices in the vehicle. Voice instructions from the Nuvi can be drowned out by a blasting radio or CD player. In-dash units, like the Pioneer, control everything, so they know to mute music in order to let instructions be heard. Modern navigation systems are marvels. They are simple, work well and keep you from committing today's ultimate faux pas: getting lost. Remember -- only losers lose their way. 7/21/2006 12:29:00 PM
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FCC Compliance: Read Between The Lines
After review of the SEC filings for both XMSR and Sirius, I found important distinctions in wording noted below. These filings seem to reflect less significant FCC compliance issues and smaller financial impact for Sirius. Another thing to note, despite manufacturer interruptions, retailers (Best Buy, Radio Shack, Circuit City, etc,) have inventory and are still selling product. Until inventories are depleted, minimal financial impact is anticipated In the Sirius SEC filing:"We believe our radios that are currently in production comply with applicable FCC rules. We and our manufacturers are cooperating with the FCC to obtain new equipment authorizations for our remaining affected products." "We do not expect the resolution of these issues to have an adverse impact on our previous guidance." XMSR, on the other hand, said: "We have recently been advised our new equipment certifications have been dismissed (but not denied) by the FCC. Dismissal allows the equipment certifications to be reinstated if the equipment is deemed compliant. We are working to complete design or installation modifications, as appropriate, or to conduct additional testing for XM radios, to include addressing uncertainties regarding emissions variability with testing results. In the meantime, we are working to limit interruptions in supply of certain models of XM radios to retailers." "We can provide no assurances at this time that our actions will be deemed sufficient by the FCC, or that this matter will not have a material impact on our consolidated results of operations or financial position." 7/21/2006 10:18:00 AM
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Analyst Comments from Morgan Stanley on XMSR (Hold) & SIRI (Overweight)
XMSR:
*Morgan Stanley cuts XM Satellite Hldgs price target to $28 (CBS MarketWatch 07/21 07:28:48) XM Satellite-XMSR lower FY06 sub est to 8.4M, below guidance of 8.5M-OW@MSCO(theflyonthewall.com 07/21 09:05:19)- The firm believes Q2 net adds appears worse due to increased churn. The firm has lowered its target to $28 from $31 and sees risk to near-term FCF milestones. SIRI:Sirius Satellite-SIRI believe 06 guidance is achievable, reit OW@MSCO - The(theflyonthewall.com 07/21 09:01:57)firm lowered 2H06 net adds but its year end forecast of 6.2M subs is stillabove guidance. The firm raised 2007 EPS and target to $8.00 Morgan Stanley Is Raising Sirius Satellite Radio 2006 Estimate To -0.44 From -0.45(Realtimetraders.com 07/21 10:30:49) 7/21/2006 09:22:00 AM
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Radio Shack Announces Earnings, 20% Increase in Satellite Radio & MP3 Sales
 RadioShack Corporation Announces 2006 Second Quarter Financial ResultsTurnaround Activities, Class-Action Lawsuit Settlements Negatively Impact Earnings Last Update: 6:59 AM ET Jul 21, 2006 FORT WORTH, Texas, July 21, 2006 /PRNewswire-FirstCall via COMTEX/ ( Link) "Radio Shack today announced a net loss of $3 million or ($0.02) per diluted share for the quarter ended June 30, 2006 versus net income of $52 million or $0.33 per diluted share for the quarter ended June 30, 2005." "Financial performance for the quarter was consistent with our expectations," said Claire Babrowski, president and chief operating officer. "We are pleased with the progress we are making on our turnaround plan. From a cost and timing perspective, our turnaround activities are on or better than plan. In addition, we saw sequential improvement in cash generation due to better inventory management." "Other drivers of RadioShack's second quarter 2006 sales aside from wireless were:
* The personal electronics platform had a 20% sales increase due to
higher sales of MP3 players and satellite radios.
* The accessories platform was up 9%, driven by strong sales of MP3 accessories, Bluetooth accessories, and flash memory. * Income statement geography changes relating to the sale of prepaid wireless airtime (due primarily to contract changes) reduced sales in the quarter by roughly 300 basis points but did not impact operating profit. This factor also impacted sales growth trends in the first quarter and will again in the third and fourth quarters." 7/21/2006 08:07:00 AM
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FCC Compliance and Approval
 July 20, 2006 There seems to be a lot of discussion relative to exactly what FCC compliance is, and how the system works. In the simplest terms, the FCC outlines specific parameters for devices. Think of it as a recipe. A manufacturer can follow the recipe and produce an FCC compliant device. That device now has to go through a certification process where the FCC verifies that the device is indeed FCC compliant. An FCC compliant radio can be manufactured, but not have FCC approval. The absence of approval does not mean that the device is not compliant. It only means that the device is not yet approved by the FCC, and deemed to be compliant.. For example…… If the FCC were to govern the manufacture of pencils and they established that the guidelines were as follows: Must be constructed of wood. Must have a red eraser on one end. Must have graphite in the center. Must have a label identifying it as a pencil. You or I could each make such a device, and as long as we followed these guidelines, we would both have identical FCC compliant pencils. However, neither of us would have FCC approved pencils. If you went to the FCC and obtained certification that your pencil was indeed FCC compliant, then you would have an FCC compliant AND an FCC approved pencil. My pencil would not be FCC approved. The functions of our pencils are identical, and in fact they perform in the exact way that the FCC guidelines had outlined. Back to satellite radio…. Sirius and XM were both found to have hardware that did not meet the FCC’s compliance standards. Both companies made the required changes and are now able to produce, and have produced FCC compliant devices. They now await FCC approval. The wrench in the works appears to be that the FCC is not so sure whether their guidelines are what they want them to be. Thus we now have two satellite radio companies waiting to get the final answer. Both have what they feel are compliant units. Both have done their testing. Both are confident that they are meeting the rules. Both are now waiting for an answer. For investors this means gauging the impact of this issue: -Does the SDARS company have a healthy supply of product already in the system and available for sale? -Does the SDARS company have a supply of compliant units that can still be shipped and sold? -Are the timelines for new hardware being pushed up? -What is the status of the OEM channel, and the installation rate there? -How healthy is consumer demand for each SDARS service? -How long can each SDARS company go without the status quo without a material impact? Expect the respective CEO’s to be fielding such questions at the quarterly calls. 7/20/2006 03:56:00 PM
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What Cramer Said Today on RealMoney Radio
 Cramer has been pushing for a merger between XMSR and Sirius. At these low price levels, maybe it's not a bad idea after all. The FCC wants interoperability, so in the near future, all devices manufactured will be able to carry both signals. If satellite TV can do it, perhaps satellite radio is not far behind. RealMoney Radio Recap: Tech Release By TheStreet.com Staff7/20/2006 3:12 PM EDT (link)"An analyst downgraded Sirius Satellite Radio ( SIRI - news - Cramer's Take) today because of a supply chain risk, Cramer said. The analyst also cut the valuation of the stock from $8 to $4.50 based on this. Cramer said his assessment on the matter is that Sirius is better than XM Satellite Radio ( XMSR - news - Cramer's Take). Further, Cramer doesn't believe that there is any near-term catalyst that will move the stock. But if XM Radio and Sirius merge, he believes it could be a home run. Otherwise, Cramer said, you are sitting on dead money as analysts run away from it." 7/20/2006 03:41:00 PM
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Sirius and FCC Compliance, What Has Been Said Publicly
Here's the essence of what David Frear said at the Sanford Bernstein Conference on May 31, 2006 (Link):
Responding to a question regarding emissions, David Frear said: A couple of our manufacturers got letters from the FCC over the course of the last several weeks asking for their test data on the FM modulaters products and emission characteristics of those products; Our radio manufacturing partners provided test data to our engineers and FCC engineers; it turned out that some of them tested outside of the band of allowable emissions; 2-3 weeks ago, we went into the plants, and made the appropriate changes in production; Now, all (units) rolling off the line are fully compliant with FCC standards 7/20/2006 02:53:00 PM
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A Conversation Between Two Brothers About Satellite Radio
 Here's somc good coverage on CNN.com... XM and Sirius: A brotherly discussion
By Todd Leopold, CNN, July 20, 2006 ( LINK) (CNN) -- I have XM. My brother Erik Leopold, a Chicago real estate photographer, has Sirius. (Incidentally, I'm 41 and he's 40, and though our tastes differ, we grew up on the same radio diet.) I called him up to talk about the pros and cons of each service. Q: Why did you subscribe to the service you have? TODD: I'm a huge baseball fan, and XM has baseball, so that was a big selling point. I'm also partial to Hondas, and XM has an exclusive deal with Honda, so when I purchased a new car last year it came with XM. And I was looking forward to the music. ERIK: I bought Sirius because of Howard Stern. I purchased a [mobile] system for my car in January, just before he went on the air. Q: What are your favorite channels? TODD: I enjoy the '60s channel because I'm fascinated by the golden age of Top 40 radio, and [XM's] DJs do a fine job of recreating that sound -- right down to the playing of obscurities I've never heard in my life. I also listen to a bit of the '70s, XMU [the college-style radio channel] to hear new bands, Fred ['70s-'80s alternative] to relive my college years and Frank's Place for a Sinatra fix. And lots of baseball. ERIK: I listen to a lot of Howard Stern, usually in the morning. When he's finished, I'll turn it over to ESPN Radio and listen to Dan Patrick, and "Pardon the Interruption" on ESPN News. I'll also listen to The Big '80s [Sirius' '80s channel], which has four of the original MTV VJs, and their classic rock stations. And you know I'm a big football fan, so I love that Sirius has the NFL. Q: What do you dislike about the services? TODD: Most of my quibbles are with specific music pr ogramming. The Fred channel plays too much '80s Europop, not enough American indie bands. (I'd love to hear Salem 66 again.) I'd like to see XM introduce a free-form channel with a good flow and intelligence, that can go from a girl group to Blondie to rockabilly to Wilson Pickett to Emitt Rhodes. (Deep Tracks [album-oriented progressive rock] doesn't cut it.) I wish Bob Dylan and Tom Petty's shows were on at more convenient times -- I'm always missing them -- and I wish the MLB Home Plate had a regular ticker of scores. That's actually more a Honda problem than XM; Sarah [Todd's wife] has a portable unit and she gets much more information on her screen than I do on mine. ERIK: The problem for me is with the DJs. On Sirius, when they play a record, they talk about it, and then they play something else. That goes for most of the stations. I just want to hear music. Also, during the NFL playoffs, the broadcast was delayed -- it seemed like there was a two-minute delay or more. Q: Has it been worth it? TODD: Absolutely. I was sick of commercial radio in Atlanta years ago. Before I got XM, I listened to CDs or connected my iPod to the cassette deck in my old car. If my new car had an iPod jack, I'd be completely set. (Hey Honda, would it have killed you to put in a 1/8-inch jack? I have the patch cords.) ERIK: Yes. Stern is great. He hasn't gone crazy -- he just has the freedom now not to worry about somebody pushing a button on him. And besides Stern, there's a wrap-up show with Jon Hein [of "Jump the Shark" fame]. I don't listen to regular radio anymore. 7/20/2006 12:27:00 PM
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Analyst Comments From Morgan Joseph
XM Satellite-XMSR downgraded to Hold from Buy (theflyonthewall.com 07/20 10:50:10) Morgan Joseph downgraded shares of XMSR following disappointing Q2 results. 7/20/2006 11:02:00 AM
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Analyst Comments From Merrill Lynch This Morning
 July 20, 2006 Here are Comments from a note to clients that Merrill Lynch distributed today: SIRI confident in ‘06 guidance despite FM modulator uncertainty Sirius filed an 8-K this morning revealing its confidence in FY06 guidance despite increasing uncertainty regarding the FCC’s intentions regarding FM modulator requirements and testing. In April, the FCC sent letters to SIRI radio manufacturers notifying them of non-compliant FM modulators (which were authorized by SIRI employees according to internal investigations) and a letter was sent to SIRI in June. While SIRI quickly implemented changes which it believes brings its radios into compliance, the FCC has yet to issue certification numbers since SIRI’s response on July 12. Given this delay, there is increasing concern that the FCC could modify either its FM modulator requirements, certification process, or both. Newest plug and play still on market The Sportster 4, SIRI’s newest plug and play device, remains on the market, suggesting the FCC is currently comfortable with its modulation specs under current testing standards. Sirius can continue to ship this product to its retail channel, helping it to meet its full year subscriber target. In our view, it is important that SIRI continues to have a plug and play product available as it is the easiest solution for a retail consumer to add satellite radio to the car. Other alternatives include an after-market hardwire install or cassette adapters, which are likely less attractive alternatives for potential retail satellite radio subscribers. OEM radios unaffected Factory-installed OEM radios do not use the FM modulator technology so are therefore unaffected by the delayed certification process or potential change inFCC requirements. These radios account for 30-40% of SIRI net additions and we do not anticipate downside risk to these net additions. XM less confident regarding material business impact XMSR also filed an 8-K last evening disclosing that the FCC “dismissed” (not denied) its new FM modulation device certifications, leaving the ability for equipment certifications to be reinstated if the radios are deemed compliant. Inthe 8-K, XM was less optimistic than SIRI, suggesting that XM could “provide noassurances at this time that our actions will be deemed sufficient by the FCC, or that this matter will not have material impact on our consolidated results of operations or financial position.” Sirius continues to hold leading retail market share in June June NPD data revealed that SIRI continued to lead in retail market share, with61% of the satellite radio market (MLe 57-58% adjusting for Wal-Mart), reinforcing our thesis that its marquee content platform will attract more consumers in the retail market. Sirius may have also benefited in June from lower inventory of XM retail products given the ongoing FM modulator issue. 7/20/2006 09:43:00 AM
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Ford Earnings Summary
 July 20, 2006Ford Swings to $123 Million Loss
A WALL STREET JOURNAL ONLINE NEWS ROUNDUP July 20, 2006 9:07 a.m. (Link: HERE) Ford Motor Co. reported a net loss in the second quarter, due to the costs of shedding personnel as part of its restructuring plan, and as high gasoline prices sapped demand for its trucks and sport-utility vehicles. Revenue fell 5.8%. The No. 2 U.S. auto maker posted a net loss of $123 million, or seven cents a share, compared with net income of $946 million, or 47 cents a share, recorded in the year-earlier period. Analysts surveyed by Thomson First Call on average expected Ford to post a profit of 12 cents a share in the second quarter, on revenue of $39.7 billion. Ford recorded total revenue of $41.97 billion, compared with $44.55 billion. In North America, where the company has been struggling to stem a steady loss of market share as sales of sport utility vehicles plunge amid rising fuel prices, revenue fell to $19.2 billion from $19.9 billion. Automotive revenue was $37.75 billion, down from $38.69 billion. Ford's North American operations posted a pre-tax loss of $797 million, down from $907 million. The company said that the reduced loss is explained by cost reductions in most areas of its business. "We've seen an improvement in North America results in the second quarter, but the external factors we face aren't going to get any easier," said Ford Chairman and Chief Executive Bill Ford. "Mark Fields [president of the Americas region] and his team have been working on plans to accelerate their efforts. Within the next 60 days, we'll be in a position to discuss the additional actions we will be taking." Ford's second-quarter loss from continuing operations, excluding special items, was $48 million, or three cents a share. Special items related to layoffs and voluntary terminations initially accounted for in the first quarter and a pension benefit in Japan led to positive adjustments to earnings of five cents a share and eight cents a share, respectively. But those were offset by charges totaling 17 cents a share, associated with further employment reductions and pension curtailments. Earlier this month, Ford said it would cut its quarterly dividend in half and reduce compensation for board members in reaction to stronger-than-expected "headwinds" in the auto industry. The moves signaled Ford may have to act more aggressively than it expected in January when it laid out its "Way Forward" restructuring plan, which calls for the elimination of 30,000 jobs and closure of 14 plants by 2012. In June, Mr. Ford said SUV sales had fallen off faster than planned because of high gasoline prices -- which hurts Ford because trucks and SUVs make up more than half of its sales. He added that prices of metals, plastic and other materials had also risen faster than anticipated. Ford's North American auto operations had losses of $1.6 billion in 2005 and $457 million in the first quarter of 2006. As part of the Way Forward plan, the company said North America would return to profitability by 2008. Ford's turnaround plan is ahead of schedule on reducing headcount. The company anticipates 12,000 hourly workers will depart this year, largely through buyouts. But its market share is down again this year and in June, its shares fell to a 52-week low of $6.17. Meanwhile, rival General Motors Corp., which faces similar declines in U.S. market share and reported a $10.6 billion loss last year, has made progress in reducing costs and its stock has rebounded. 7/20/2006 09:39:00 AM
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Toyota: No Plans To Join Alliance with GM
 July 20, 2006Toyota Doesn't Plan to Join Alliance With GM, Nissan and RenaultBy JATHON SAPSFORD, The Wall Street Journal, July 20, 2006 8:18 a.m. ( Link to article: HERE) TOKYO -- Toyota Motor Corp. denied Thursday it has any plans to involve itself in alliance negotiations between General Motors Corp. and other rivals. The Japanese auto maker also offered an elaborate apology for a worrisome series of recalls that have tarnished its considerable reputation for quality, and which may lead to a public reprimand by the Japanese government. GM is negotiating with rivals Renault SA and Nissan Motor Co. about a possible three-way alliance, which could include an exchange of equity. Toyota, with well over $30 billion in cash reserves and with existing cooperation arrangements with GM, is the one global auto maker that could derail any such plan. It could do this if it tendered its own bid for some sort of tie-up with GM, a move that would constitute what one car industry executive called an "effective veto" over any deal between GM, Renault and Nissan. Nothing of the sort will happen, said Toyota president Katsuaki Watanabe. He stated strongly that his company has no interest in either blocking or joining the alliance talks. "We are not thinking about anything like that," Mr. Watanabe said at a Toyota's midyear news conference in Tokyo. Mr. Watanabe also said Toyota's existing areas of cooperation with GM, including a jointly operated auto plant in Fremont, California, called New United Motor Manufacturing Inc. are valued highly by Toyota. "We'd like to keep these arrangements as they are," Mr. Watanabe said, adding that Toyota is open to more areas of cooperation with rival car makers. He provided little reason to suspect Toyota was considering something specific and new with GM. The news media and financial industry have been speculating about a possible role for Toyota in any deal with GM and other rivals, in large part because of Toyota's growing role as an industry leader. Toyota has yet to surpass GM as the world's largest car maker by volume, but it has already secured a leadership position by other measures. It is more profitable, and growing sales and market share faster, than any other major car maker. Toyota said it is sticking to its initial global production plan for this year, targeting production of 9.06 million vehicles. It is also maintaining its global sales target to sell 8.85 million vehicles. Such a leadership role can be a burden. For months, critics have worried that Toyota is sacrificing some of its vaunted quality in a rush to bring new products to market and grow further. In recent months, Toyota has recalled hundreds of thousands of vehicles. One case involved a model sold in Japan known as the Hilux Surf, which was in a head-on collision, leading to a serious passenger injury. The police alleged negligence, but Toyota has denied wrongdoing. Japan's Ministry of Land, Infrastructure and Transport is examining Toyota's handling of recent recalls, and ministry officials are hinting that some sort of public reprimand for Toyota may be in order. Any such official censor would be largely symbolic, said one official familiar with the matter, and probably wouldn't carry any fines or penalties. For Toyota, however, quality and safety are the cornerstones upon which its entire global operations are built, and despite denials of breaking any rules, Toyota went out of its way to show contrition for the recalls at its news conference in Tokyo. At the same time, Toyota boasted of no new products or expansion plans, as has become common at its recent media events. The company gave no press materials to the news media. Toyota's senior management team even shunned the open-collar, short-sleeved shirts the company has adopted for summer to help cope with Japan's sticky weather, opting instead to appear in dark suits. The message behind the funeral-like atmosphere was clear: "I take this seriously and see it as a crisis," said Mr. Watanabe. He then bowed deeply in front of the cameras, and added that, "I want to apologize deeply for the troubles we have caused." 7/20/2006 09:34:00 AM
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Analyst Comments from UBSW This Morning
  July 20, 2006 XM Satellite-XMSR downgraded to Neutral from Buy, tgt $13@UBSW(theflyonthewall.com 07/20 07:01:51) XM Satellite-XMSR downgraded to Neutral from Buy, tgt $13@UBSWSirius Satellite-SIRI downgraded to Neutral from Buy@UBSW , tgt $4.50 (theflyonthewall.com 07/20 08:11:16) Sirius Satellite-SIRI downgraded to Neutral from Buy@UBSW, tgt $4.50 7/20/2006 09:21:00 AM
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Best Selling Vehicles
 July 20, 2006 MSN has developed an article outlining the best selling cars so far in 2006. What may come as a suprise to many is that the pick-up truck remains a very strong seller. This bodes well for Sirius and XM because satellite radio installation is heavier in the pick-up segment. Article Excerpt: "Full-size pickups continue to be the most popular vehicles with U.S. buyers in the first six months of 2006 despite the continuing rise of gas prices. Total sales show the Ford F-Series and Chevrolet Silverado as the top two sellers in the country, followed by the Dodge Ram in fourth, according to sales information published by Automotive News.The Toyota Camry remains the top-selling passenger car in America. Third in sales overall, the sixth-generation 2007 Camry went on sale in March 2006 with a more modern look featuring more performance and driving dynamics. Toyota also debuted a gasoline-electric hybrid version of the midsize sedan with the 2007 Camry Hybrid. Taking fifth and sixth overall are the second- and third-best-selling cars, the Honda Accord and Honda Civic. With an updated look inside and out, the Accord is also offered in a gasoline-electric hybrid version. Also available as a hybrid, the Civic is all new for 2006 with new styling, more performance and additional safety equipment.
The Ford F-Series has been the best-selling vehicle in America for the past 23 years and the best-selling truck for the past 28. The Chevrolet Silverado is only second to the F-Series in U.S. sales. The combined sales of the three top-selling trucks is more than the sum of the six top-selling passenger cars.
Rounding out the top ten are two additional products from Chevrolet, the Impala in seventh and the Cobalt in tenth. Chevrolet continues as the manufacturer with the most models in the top ten.
The Dodge Caravan, the only minivan on the list, finishes in ninth. There were no SUVs in the top ten for this time period.1. Ford F-Series 400,177 - Sirius 2. Chevrolet Silverado 317,169 - XM 3. Toyota Camry 218,517 - Sirius Or XM 4. Dodge Ram 183,174 - Sirius 5. Honda Accord 178,116 - XM 6. Honda Civic 165,056 - XM 7. Chevrolet Impala 144,730 - XM 8. Toyota Corolla 132,182 - Sirius Or XM 9. Dodge Caravan 125,813 - Sirius 10. Chevrolet Cobalt 119,952 - XM Source for sales figures - Automotive News Data Center Interested readers can review the MSN piece and more photos HERE7/20/2006 08:45:00 AM
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Sirius FM Modulatar Update: SEC Filing
 July 20, 2006FM Modulators: Here is the 8-K Filed by Sirius with the SEC, July 20, 2006Section 8.01 Other Events. (Link: Here) In April 2006 we learned that two manufacturers of Sirius radios and our principal competitor had received inquiries from the Federal Communications Commission as to whether the FM transmitters in their products complied with the FCC’s emissions and frequency rules. We promptly began an internal review of the compliance of the FM transmitters in a number of our radios. On June 20, we received a letter directly from the FCC making similar inquiries. On July 12, we responded to the letter from the FCC in respect of the preliminary results of our review. During our internal review, we determined that certain of our radios with FM transmitters were not compliant with FCC rules. We have taken a series of actions to evaluate, mitigate and correct the problem. We directed manufacturers of Sirius radios with FM transmitters to suspend manufacture and shipment to retailers of non-compliant devices and to make the necessary changes in production to bring the radios into compliance. In connection with our internal review, we discovered that certain Sirius personnel requested manufacturers to produce Sirius radios that were not consistent with the FCC’s rules. As a result of this review, we are taking significant steps to ensure that this situation does not happen again, including the adoption of a comprehensive compliance plan, approved by our board of directors, to ensure that in the future our products comply with all applicable FCC rules. The FCC is continuing its review of our products as well as products of other companies containing FM transmitters. We believe our radios that are currently in production comply with applicable FCC rules. We and our manufacturers are cooperating with the FCC to obtain new equipment authorizations for our remaining affected products. We understand that the FCC’s testing laboratory is reviewing the methodology under which it tests FM transmitters. If the FCC were to change its test parameters, our new products may be found to be non-compliant, requiring us to make further changes in our products and possibly delaying the availability of these products to consumers. No health or safety issues are involved with these Sirius radios and radios which are factory-installed in new vehicles are not affected. We do not expect the resolution of these issues to have an adverse impact on our previous guidance. 7/20/2006 06:48:00 AM
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The XMSR Sportscaster Gets A Positive Mention In The New York Times
 July 20, 2006 A Satellite Radio Reciver For The Car Collector (or the Frugal) By Ian Austin, The New York Times, July 20, 2006 (Link: Here) The outstanding feature of XM Radio’s latest receiver, the Sportscaster, is its price: $60. Unlike most satellite receivers, this unit is not meant to be permanently installed in a car. Instead, it comes with a magnetic rooftop antenna and a power source that plugs into a cigarette lighter. It links to the car’s audio system either through a built-in FM radio transmitter or a supplied cassette adapter. That allows users to move the radio to rental cars or other vehicles without bringing a professional installer into the picture. The Sportscaster can also be transformed into a portable radio, although not without an additional cost. An $80 accessory kit provides the necessary battery and headphones with a built-in antenna. XM plans to introduce a portable speaker set that will connect to the Sportscaster. David Butler, an XM spokesman, acknowledged that the name was mostly a marketing effort to highlight the large number of sports broadcasts carried by the company. The Sportscaster ships with several of its preset channels tuned to sports programming. Music lovers, however, can reset them. 7/20/2006 06:34:00 AM
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Analyst Comments: Citigroup on SIRI and XMSR
 July 20, 2006 Citigroup Comments on SIRI and XMSR after NPD Data07-19-2006 11:56:58 PM (link: HERE) Citigroup comments on NPD data for the satellite radio space. Analyst Eileen Furukawa said June NPD data shows Sirius Satellite Radio Inc. (Nasdaq: SIRI) is still beating XM Satellite Radio Holdings Inc. (Nasdaq: XMSR) in retail, with a 19% year-over-year growth in tuner sales, versus an 18% drop at XM, with just 1% growth for the industry.Furukawa said Howard Stern continues to have longer legs than anyone initially expected. Furukawa maintained her Buy ratings on both stocks, saying longer-term factory installed radios will spur a return to growth and lift the stock. 7/20/2006 06:25:00 AM
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Update on XMSR FM Modulators
  July 20, 2006 Here is the 8-K filed by XMSR with the SEC: As previously disclosed, on April 25, 2006, we received a letter from the Federal Communications Commission stating that its Office of Engineering and Technology Laboratory had tested the Delphi XM SKYFi2 radio and determined that its FM modulator wireless transmitter was not in compliance with permissible emission limits. We are also aware that Audiovox, manufacturer of the Audiovox Xpress, a radio designed to work with the XM system, received a similar letter from the FCC. We have conducted a review of the SKYFi2, Xpress and other devices compatible with the XM system that use a wireless FM modulator to transmit XM programming from an XM radio to an FM radio. We have provided information to the FCC regarding the SKYFi2 radio in accordance with the FCC letter. Further, we are implementing a series of actions involving various radios to bring them into compliance, including requesting our manufacturers to suspend production and/or shipments of radios or accessories that may require changes to operating or installation instructions, or modifications to software and/or hardware, such as small attachments that reduce emissions through the antenna or cigarette lighter adapter. To facilitate the manufacture of new radios, we obtained new certifications in mid-June for modified equipment configurations with compliance testing based upon in-vehicle testing of three representative vehicles, consistent with the FCC’s spring 2006 clarification of testing procedures. We have recently been advised our new equipment certifications have been dismissed (but not denied) by the FCC. Dismissal allows the equipment certifications to be reinstated if the equipment is deemed compliant.We are working to complete design or installation modifications, as appropriate, or to conduct additional testing for XM radios, to include addressing uncertainties regarding emissions variability with testing results. In the meantime, we are working to limit interruptions in supply of certain models of XM radios to retailers. No health or safety issues are involved with these wireless XM radios, and this matter does not pertain to any XM radios which are factory installed in new vehicles or which are directly connected in other vehicles. We can provide no assurances at this time that our actions will be deemed sufficient by the FCC, or that this matter will not have a material impact on our consolidated results of operations or financial position. Link to the SEC Filing: Here7/20/2006 06:19:00 AM
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Retail Sales - Satellite Radio - A Deeper Look At NPD
  July 19, 2006 With the release of the NPD data today, investors have seen a glimpse of where retail sales stand. During the quarter XM satellite radio has made indications that retail sales of radios was slowing. Something that some analysts took to mean as a sector wide issue. Sirius satellite radio has been quick to state that they are not seeing a softening at retail, and that they are in fact seeing growth. Now that the sub numbers are released, and the NPD data is in, some conclusions can begin to be drawn: Satellite Radio as a whole experienced flat overall Year Over Year (YOY) growth in June. Sirius saw a YOY uptick of 18% while XM saw saw a YOY downtick of -19%. June was the strongest month of the year for both Sirius and XM for NPD sales. An interesting item to note is that XM's best month so far this year (June) only beats 2 of Sirius' months (April and May) so far this year. This trend, SIRI with positive YOY comparisons and XM with negatives, seems to be continuing for longer than many people have anticipated. What is happening is that the retail preferences have shifted from XM to Sirius. The sector is growing, but it is Sirius that is capturing the bulk of the growth. Taking a look at the new additions in satellite radio on a YOY basis, it becomes clear that Sirius is capturing nearly all of those subscribers. How long will this trend continue? Only time will tell. The bottom line here is that as a sector, satellite radio is just as strong, if not stronger, at retail than it was last year. Those that look at the sector as a whole can clearly see that the growth is stable at a minimum. Now you need to look at where in the sector the growth is happening. In any business there comes a point in time when the YOY growth figure begins to level off. For satellite radio as a sector this seems to be the case (at least in June, although YOY for 2006 is still seeing overall growth). This year both Sirius and XM have issued guidance to retail parity. As yet, this has not happened. If you follow Sirius, you are likely happy that Mel K is over-delivering on his guidance. If you follow XM, you are likely upset that Hugh P is still missing the number. It is important to note that NPD does not capture all sales. It is also important to note that NPD does not track churn of the companies. These items have the potential to drastically impact the perception investors have. By example, in an analyst report issued today, Barton Crockett of JP Morgan noted that he anticipates 269,000 NET retail additions for Sirius and 159,000 for XM. On a NET basis this means Sirius will have garnered 63% of the NET additions. Here at SSG we are anticipating that the NET retail spread will be roughly 65% SIRI and 35% XM 7/19/2006 03:49:00 PM
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Stiletto Rumors (Con't, Part 2)
Sirius Satellite Radio's upcoming product still on target for summer launch(theflyonthewall.com 07/19 14:29:47) A recent article on satellite radio website Orbitcast.com speculated that Sirius Satellite Radio's (SIRI) upcoming wearable device will be delayed "to September/Fall as Sirius awaits more color on RIAA-related issues with XM onboth the legislature/lawsuit front." This conflicts with reports that the company, as it has said in previous press releases, will release the live wearable device by the end of the summer, which sources tell Theflyonthewall.com is still the projected timetable.SSG's response to the original orbitcast post: HERE7/19/2006 03:11:00 PM
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FLW Championship Stage Is Set
July 19, 2006 Satellite Standard Group has been keeping up with the FLW Tour this year and following the Sirius Satellite Radio angler Chip Harrison throughout the season. Well, the tournements are now complete and the top 48 angles now have their eyes on the championship, as well as the $500,000 prize. Chip Harrison will be there. STAGE SET FOR BASS FISHING'S BIGGEST WEEK$500,000 on the line in Birmingham during $1.5 million Wal-Mart FLW Tour Championship BIRMINGHAM, Ala. (July 19, 2006) - They've driven thousands of miles, spent weeks studying lake maps and water conditions, and made countless casts in preparation for this moment. Now 48 of the world's top professional anglers are headed to Birmingham where they will square off in head-to-head competition on Login Martin Lake Aug. 2-5 for a shot at winning $500,000 in their sport's crowning event - the $1.5 million Wal-Mart FLW Tour Championship and Outdoor Show presented by Castrol.Anglers from 28 states and Japan qualified for the championship after competing in six qualifying events stretching from Lake Okeechobee in Florida to Lake Champlain in New York. These qualifiers are seeded according to their Land O'Lakes Angler of the Year rankings and No. 1 will compete against No. 48, No. 2 against No. 47, No. 3 against No. 46, etc. This bracket-style competition has produced some exciting matches that will likely lead to some nail-biting finishes as Arkansas legends Larry Nixon (No. 8) and George Cochran (No 41) face off in the opening round alongside Gain Rookie of the Year Gabe Bolivar (No. 7) and veteran Gary Yamamoto (No. 42) among others. The complete championship field and head-to-head pairings are posted at FLWOutdoors.com. Championship contenders will take off from Pell City Lakeside Park, located at 2801 Stemley Bridge Road in Pell City at 7 a.m. each day, and daily weigh-ins will be held at 5 p.m. in the Birmingham-Jefferson Convention Complex Arena. The outdoor show featuring more than 140 exhibits; fishing seminars by Hank Parker, Forrest L. Wood and other bass-fishing legends; and free daily giveaways runs 2 to 8 p.m. Aug. 2 and 3, noon to 9 p.m. Aug. 4 and 10 a.m. to 8 p.m. Aug. 5. Aug. 2 is free FLW Outdoors hat day. Aug. 3 is free Stren fishing line day. Aug. 4 is free Berkley tackle day, and Aug. 5 is free rod and reel and free Fujifilm camera day. Daily giveaways are for children 12 and under accompanied by an adult.
The week's festivities also include a taping of "The Best Dam Sports Show Period" in the BJCC Arena Friday at 1 p.m. and a free concert presented by Chevy featuring country artist Craig Morgan at 4 p.m. Saturday in the BJCC Arena.
Following the two-day opening round, 24 pros advance to the semifinal round based on their two-day accumulated weight. Head-to-head competition continues in the one-day semifinal round, after which 12 pros advance to the final round. The 12 finalists start from zero and compete for one day to determine the winner of the sport\'s biggest award - $500,000 cash.
Even the pro who finishes 48th earns $15,000 just for qualifying. Forty-eight co-anglers, who are paired with the pros and fish from the back deck, will compete for two days, after which the top 24 co-anglers based on accumulated weight advance to the third and final day of co-angler competition. Weights are cleared for the co-angler final round, and the winner takes home $25,000.
In addition to the tournament festivities, professional anglers will visit approximately 200 patients ranging in age from 5- to 18-years-old at Children\'s Hospital in Birmingham on Aug. 4 at 10 a.m. Aside from signing autographs and providing a needed break for the children, the anglers hope to cultivate an appreciation of the environment by teaching about the conservation of fish habitat and being respectful of nature. The anglers will also take this opportunity to explain why more than 50 million people pick up their rods and wet a line each year - because fishing is a fun, wholesome activity the entire family can enjoy.
One lucky fan attending the final weigh-in Aug. 5 will also win a new Ranger Z20 Comanche bass boat powered by Yamaha. Three qualifiers will be drawn for the boat giveaway during each day's 5 p.m. weigh-in, with the final three qualifiers and the eventual winner drawn Aug. 5. Fans must be present to qualify and win.
Admission is free, and entry forms will be available at the outdoor show.
Fishing fans will have the chance to swap fish tales with Team Chevy anglers Larry Nixon, Luke Clausen, Kim Stricker, Dion Hibdon and David Fritts during Chevy Pro Night from 6 to 8 p.m. at Edwards Chevrolet located at 1400 Third Ave. North in Birmingham on July 31.
FLW Tour anglers will also be hosting fishing seminars at more than a dozen Birmingham-area Wal-Mart stores from 6 to 8 p.m. on July 31. Named after the legendary founder of Ranger Boats, Forrest L. Wood, FLW Outdoors administers the Wal-Mart FLW Tour, Wal-Mart FLW Series, Stren Series, Wal-Mart Bass Fishing League, Wal-Mart Texas Tournament Trail presented by Abu Garcia, Stratos Owners\' Tournament Trail, Wal-Mart FLW Walleye Tour, Wal-Mart FLW Walleye League, Wal-Mart FLW Kingfish Tour, Wal-Mart FLW Kingfish Series, Wal-Mart FLW Redfish Series and Wal-Mart FLW Striper Series. These circuits offer combined purses exceeding $37.9 million through 249 events in 2006. For more information about FLW Outdoors and its tournament programs, visit FLWOutdoors.com or call (270) 252-1000.
Wal-Mart and many of America\'s largest and most respected companies support FLW Outdoors and its tournament trails. Wal-Mart signed on as an FLW Outdoors sponsor in 1997 and today is the world\'s leading supporter of tournament fishing. For more information about Wal-Mart, visit Wal-Mart.com
Another event coinciding with the 2006 FLW Tour Championship is the National Guard Junior World Championship - a one-day, youth-oriented fishing championship held July 31. The event, in which youths qualify through TBF (The Bass Federation) state programs, is designed to highlight some of the best up-and-coming angling talent in the nation. Each participating TBF state is sending two junior anglers (one in the 11-14 age bracket and another in the 15-18 age bracket). These anglers will fish with the FLW Tour Championship pros on Lake Neely Henry in Gadsden, Ala. The takeoff and weigh-in will be held at the Gadsden City Launch located at 200 Lake Street in Gadsden at 8 a.m. and 3 p.m., respectively.
For more information on FLW Outdoors and its tournament circuits, visit FLWOutdoors.com.7/19/2006 12:14:00 PM
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Oprah Previews on XMSR
 Orbitcast posted this today: Oprah & Friends Channel Debuts on XM
The Oprah & Friends Channel (XM 156) has debuted on XM Satellite Radio, though it's currently only a preview right now. If you tune in you'll hear introductions of each of Oprah's Friends, with background & bios on each persion, and you'll hear information on the shows to come. XM has also started running promos for Oprah & Friends throughout other channels, advertising her coming to XM in September. Looks like the Oprah buzz machine is starting. Last week SSG published an article titled " Good New XM Could Use". In the article we outlined several items that we felt were positive things that XM could have coming, or that XM could give some flavor to. It is good to see that XM has done some of the things we highleighted in our piece. One of those related directly to Oprah, and getting the buzz started. Link to article: HERE7/19/2006 10:29:00 AM
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JP Morgan Report on Satellite Radio
July 19, 2006 Satellite Standard Group keeps you informed. Today analyst Barton Crockett of JP Morgan has released a report on the satellite radio sector with their Q2 preview. In the report they indicate that Sirius may fare better than rival XM, and they see sme key factors are as follows: 1. Year End Subscriber Targets (JPM sees more risk to XM in this category) According to Crockett, they feel that XM's current target of 8.5 million subscribers is to high. JPM has their target at 8.36 million. They feel that Sirius' current guidance of 6.2 million is low, but that it is getting harder for Sirius to be able to raise subscriber guidance. JPM currently estimates that Sirius will finish 2006 with 6.3 million subscribers. 2. Churn Deactivations (JPM sees more risk to XM) Crockett projects XM's total churn will rise to 2.7% in Q2 (up from 2.3% in Q1). They also project a rise in Core Churn (the percentage that XM reports) from 1.6% in Q1 to 1.7% in Q2. For Sirius they project a flat churn rate of 1.8% due in part to longer OEM promotional periods. 3. Retail and OEM Splits JPM has made an assumption that due to strong DCX and Ford ramp-ups that more than half of the Q2 Net additions came from the OEM channel (331,000 OEM and 269,000 Retail). He indicates that if the OEM is actually lower than he projects that it would bode well for Sirius' retail share and reflect poorly on XM's gross retail numbers. JP Morgan maintains a neutral rating for both Sirius and XM. Their report 20 pages long. SSG readers can obtain more information by going to the JP Morgan website HERE7/19/2006 09:50:00 AM
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Sirius GM Solution Imminent
 July 19, 2006 A few days ago word began to spread that the release of the "GM Connect" Sirius unit was imminent. Today it appears that the unit is now beginning to reach retailers. Drivers of 2003 and up GM vehicles now have a simple solution that will enable them to convert the factory installed XM Satellite Radio to Sirius. For many this is a solution they have been waiting for. SSG spoke with TSS Radio, a retailer of Sirius products including sirius satellite radio accessories, and they already have received hundreds of inquiries about buying the unit with more requests coming in each day. The SIR-GM1 includes everything needed for you to play Sirius through your satellite Ready GM vehicle. Included items are a Sirius radio, a roof-mount antenna, and the adapter cable that connects the radio to your stereo. The compact unit can be mounted easily in a convenient spot behind the dash. The unit utilizes existing connections which provide full functionality. The SIR-GM1 retails for only $99.00 and is available or will be available shortly at retailers like TSS Radio. You can learn more about this unit by visiting TSS Radio HERE. 7/19/2006 09:48:00 AM
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Great Article, Washington Post, RIAA vs. XMSR
A Sound Marketplace For Recorded MusicBy Steven PearlsteinWednesday, July 19, 2006; D01 Here in Washington, there is nothing more amusing than watching business interests work themselves up into a righteous frenzy over a threat to their monopoly profits from a new technology or some upstart with a different business model. Invariably, the monopolists (or their first cousins, the oligopolists) try to present themselves as champions of the consumer, or defenders of a level playing field, as if they hadn't become ridiculously rich by sticking it to consumers and enjoying years in which the playing field was tilted to their advantage. A recent example is the political and legal attack mounted by the music-recording industry against the upstarts of satellite radio. You'd think an industry that has managed to turn out so much mediocre music for so many years, done so much to lower moral standards and lost so much business to illegal file-sharing would have something better to do than attack some of the few distributors that are actually expanding the market and charging for music. But the prospect that the industry might not extract every last penny out of the new satellite radio services and their customers is simply unacceptable to the Recording Industry Association of America. The controversy concerns new devices that allow satellite radio's paying customers to record programs they listen to, or would have listened to if they were aired at a more convenient time, as a TiVo does for TV viewers. And like TiVos, these devices allow customers to keep the stuff they like and delete the rest. And there's the rub. For if you can store the tunes you like and listen to them as many times as you want, the RIAA argues, that's suspiciously like downloading a song for free. So the record labels, waving the flag of piracy and decrying the loss of a "level playing field," are demanding to be paid the same fees paid by the other download services. Never mind that the Supreme Court long ago ruled that the "fair use" doctrine included the right of consumers to tape programs off TV and radio as long as they're for personal use. Never mind that, back in 1992, Congress envisioned the potential clash between fair use and copyright problems in an era of digital radio and came up with a compromise that requires the makers of digital audio recording devices to pay the record labels a royalty equal to 2 percent of the wholesale price of the device. And never mind that the current devices are set up so you can't transfer tunes to your music collection on the computer or share them with your friends -- but in the case of the XM Inno, you can push a button, pay a fee and buy the tune from Napster, the former ringleader of music piracy that's now gone straight. The RIAA took its demands for additional royalties to both Sirius and XM. Sirius signed a deal that, by one news report, involved a fee of $15 per recording device. But for reasons that aren't exactly clear, a similar offer by XM was rebuffed. Instead, XM was hit with a federal lawsuit filed by the RIAA and a proposal from the industry's backers in Congress that would effectively require the satellite radio services and their customers to pay "market" rate for music downloads. As far as I can tell, both are long shots, designed primarily to increase studios' negotiating leverage in dealing with the satellite operators. The fundamental problem here is that there really isn't a free and open "market" for recorded music. It starts with copyrights, which are nothing more than little government-issued monopolies. As a result of the recording industry's lavish political contributions, Congress has extended the copyright for music to absurd lengths of time (70 years after the death of the artist) and absurd situations (singalongs at Boy Scout campfires). This is well beyond what is reasonably required to meet the aim of encouraging artistic creation. At the same time, the political clout of the National Association of Broadcasters is such that, while radio stations pay royalties to songwriters, they have always been exempt from paying artists and record labels. Satellite and Internet competitors enjoy no such exemption. If leveling the playing field is the goal, this is the place to start. In an effort to encourage the development of new services, Congress also required record companies to license all their music to satellite and Internet radio operators at a mutually agreed-upon price. But if no agreement is reached, price and terms are to be determined by regulators according to various and competing criteria -- a process that amounts to nothing more than an invitation to endless litigation. The copyright laws also effectively set up the record labels as a cartel that can bargain as a group with satellite and Internet radio operators over royalties and other terms. Not surprisingly, the same cartel-like behavior appears to extend to the industry's negotiations with Apple's iTunes and other download services, which seem to strike suspiciously similar deals at suspiciously similar times with all of the major recording studios. It's perhaps no coincidence, then, that the industry has already settled an antitrust suit over price fixing of compact discs and is reported to be the subject of another antitrust probe regarding prices for music downloads. Look, I'm still waiting for my kids to give me an iPod and teach me how to use it. My taste in music pretty much stopped with James Taylor. But if the goal here is to encourage innovation and competition in the market for recorded music, I can assure you that lawsuits and lobbying battles are a lousy way to go. The better strategy is to prune overgrown copyright protections, deregulate the industry and let the marketplace set prices and decide which companies and technologies and business models survive. Steven Pearlstein will host a Web discussion at 11 a.m. today at http://washingtonpost.com. He can be reached at pearlsteins@washpost.com. Link to article: HERE7/19/2006 08:07:00 AM
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XMSR Asks Judge to Dismiss RIAA Suit: Here are the Details
Here is XM's court filing in response to the RIAA lawsuit requesting dismissal of the suit. Download it here (PDF). (via www.orbitcast.com) 7/18/2006 09:56:00 PM
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View The Movie That Won The Howard Stern Film Festival
 July 18, 2006 The Howard Stern Film Festival was an event to remember. It inspired amateur film buffs to take their shot at notoriety and a nice cash prize. The finalists all had wonderful films, and the eventual winner was "Radio Play" by Scott Masterson. The film is slightly over five minutes in length, and features a your Howard, Robin and Fred goofing around on HAM radios back in 1962. If you have Howard TV, you have had a chance to watch this wonderful piece, if not, all you could do was listen to the recap on the radio show. Well, that has now changed. "Radio Play" can now be viewed on line HERESit back and enjoy your personal viewing of the film that won the festival. A special thanks to Mike. 7/18/2006 04:44:00 PM
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Ford Options, Earnings Release, July 20th
Live In Play ( www.briefing.com) 18-Jul-06, 15:44 F Ford Motor options activity (6.44 +0.03) F Sep 7.50 calls are seeing heavy volume today with 14.2K contracts trading vs open interest of 26.7K contracts. This buying has pushed implied volatility up around 10 points to ~54% in these near-upside calls. F is scheduled to report earnings on July 20 before the open. The stock is trading just above multi-year lows made in late June. (OPTNX) 7/18/2006 03:53:00 PM
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Toyota Has Not Had Talks With GM
 July 18, 2006 Recent news about GM and Nissan dioscussing a possbile alliance have spurred a lot of speculation. Today, Toyota North America President Jim Press stated quite clearly that Toyota has NOT had any discussions with General Motors, but did indicate that they are open to alliances. Press added that should a GM/Nissan alliance come to fruition, that it would make Toyota a stronger competitor. He also noted that he anticipates GM and Ford to come back and be "Stronger than Ever". Mr. Press made his comments in response to a question at the National Press Club. 7/18/2006 02:49:00 PM
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Stiletto Rumors (Con't, Part 1)
Orbitcast posted this today, noting that the "Stiletto" launch may be delayed and the unit may not have the features expected. Regarding these rumors, I am going to stick with what Sirius has said publicly...that the unit will be a true wearable, and will be released sometime this summer. Also, the antenna/power module that Orbitcast mentions looks like earplugs to me.
"Sirius Stiletto: Rumored Bits & Pieces The clock is ticking as people are anxiously awaiting some word about the Sirius Stiletto. David Frear, Sirius Satellite Radio CFO, said at the CIBC Conference back in May that details regarding the upcoming Sirius live-wearable device will be released in the "next several weeks." Separately it was supposedly told to analysts (privately) that the device would be released in June - we're in the second half of July now and still no word. What's this mean? Well, since there's nothing concrete to go on, it only leaves room for rumors and speculation of course! So to help feed the fire, below are some pieces of chatter that have been picked up: The device will not be a full-time live wearable receiver. Instead, it will come with the option to plug in an antenna/power module to enable on-the-go listening. Hence the connector at the TOP of the unit seen in Mel's hand. The device is not designed by Ziba (the agency that designed the Sirius S50). The Sirius Stiletto SL100-TK1 has been pushed back to September/Fall as Sirius awaits more color on RIAA-related issues with XM on both the legislature/lawsuit front. The final device will be black (as opposed to the unit we saw Mel waiving around) and will look like a "wider S50." There will be two devices: the first will be the Zing player which is pretty much an S50 with added Wi-Fi abilities. The second will be the Stiletto with a Live option. So... there you have it. As usual with any anticipated device, people are whispering that "all will be told at the August conference call." We shall soon see." Posted July 18, 2006 12:45 PM Link to article: HERE7/18/2006 01:57:00 PM
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XM Asks That RIAA Suit Be Dismissed - Rightly So
 July 18, 2006 Last week Satellite Standard Group listed several potential positive items that XM Satellite Radio may be able to announce or clarify for investors. One of those items was comments about the RIAA lawsuit which seeks $150,000.00 compensation for each song that has been recorded on the new Pioneer Inno and similar devices. Yesterday the news that we were hoping to see came to light. XM Satellite Radio asked a Federal Judge to dismiss the RIAA suit. We here at SSG have speculated that the RIAA suit was a strong-arm tactic to try to get XM Satellite Radio to the negotiating table. The RIAA appears to be taking whatever steps it can to change the current way consumers enjoy music. Along with the lawsuit, the industry is also backing controversial legislation called the PERFORM Act, which would in effect regulate the royalties for all songs played, but spares terrestrial radio (including the fledgling HD Radio) from paying any such fees. In the XM request to have the RIAA suit dismissed, XM cited the current consumer protection outlined in 1992 represent "Congress' efforts to insure that the powerful recording industry would not be able to restrict the right of consumers to record songs that are broadcast over the radio or stifle innovation by chilling the development and use of the latest recording technologies." Ironically, the RIAA supported the law as written in 1992. On the side of the RIAA, Jonathan Lamy, a spokesman for the group classified XM Satellite's legal arguments as "arcane." We here at SSG would suggest that the business model of the RIAA is arcane. What is happening is that an organization such as the RIAA failed to adjust their business model to account for items such as satellite radio, I-Pods, etc. The RIAA still insists on letting terrestrial radio play each and every song for free, even with HD Radio coming onto the scene. SSG has pointed out numerous devices that are capable of recording and segregating songs directly off of FM or HD radio. These devices are already in the process of getting FCC approval. If the RIAA felt that such devices were illegal, they should be filing injunctions for those units as well. Satellite Radio has become one of the biggest source of income for the RIAA. The volume of music played by XM and Sirius is incredible, and artists reap a direct reward from that. Now, instead of embracing this windfall that did not exist prior to satellite radio, the RIAA is deciding to bite the hand that is feeding it. A major consideration in this action will be the opinion of the Consumer Electronics Association (CEA). The CEA has also filed papers in court, in which they sided with sided with XM Satellite Radio. The CEA expressed that they feel XM Satellite Radio was protected by the 1992 law. Additionally, another organization has joined the fight. The Home Recording Rights Coalition joined CEA in their court filing. As readers may be able to tell, Sirius has been pretty silent on the issue. Sirius had previously come to an agreement with the RIAA specific to their S50 model. Like the Inno and Helix, the S50 has similar recording capabilities. Because an agreement has been reached between Sirius and the RIAA, there has been no suit against Sirius. For the moment this leaves XM taking the brunt of a legal defense, with Sirius waiting in the wings. A positive outcome for XM would also bode well for Sirius. Whether or not Sirius joins in the effort is yet to be determined. As a consumer your hands are not tied. You can express your beliefs to your senators and representatives regarding the PERFORM Act legislation. Should consumers win in defeating this legislation, any case such as the current one filed against XM by the RIAA will have a lot of wind taken from its sails. 7/18/2006 01:52:00 PM
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A Huge Marketing Opportunity For Satellite Radio
I hate to be redundant, but I am focusing on this topic (discretionary vs. non-discretionary purchases) with the hope that XMSR and/or SIRI marketing staff will take note. The economy is changing...it is slowing down. Purchase have shifted from "want" to "need". The low interest rates that spurred auto sales are gone. Consumer confidence is waning as the sense of high net worth from soaring home values is deflating. The front page of the Wall Street Journal, July15-16, 2006 proclaimed: " Consumer Caution, Oil Prices Increase, Risk of a Recession" (Link to article: HERE) outlines what consumers are thinking. Purchases of the "next cool gadget" have slowed down. This provides a real marketing opportunity for Sirius and XMSR. The iPod cannot market itself as a necessity, but satellite radio CAN.For example, reading these headlines: " Heat wave will boost power use, strain utilities
Grid operators urge consumers nationwide to conserve electricity"
(Reuters Updated: 5:24 p.m. ET July 17, 2006, link to article HERE), or "Propane group: Many expect hurricane-season power loss"
(South Florida Business Journal - 8:35 AM EDT Tuesday, Link: HERE) What if I am left without electricty? How will I access the news, weather, alerts? I feel empowered because I have a battery-operated satellite radio BOOMBOX, and a WEARABLE DEVICE. Satellite radio has a unique opportunity that is simple to execute. Will they jump on it, or be behind the curve like the U.S. auto manufacturers? 7/18/2006 01:11:00 PM
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Merger Merger Buy-Out
  July 18, 2006 The mere mention of a merger between Sirius and XM brings out a lot of instantaneous responses about how it would be impossible because regulators would never allow such a thing to happen. Today, we are looking at speculation on another satellite front…..Satellite Television. Rumors are once again circulating that Direct T.V. and Dish are exploring various options that include the two providers becoming one. Three years ago an attempt at just this was made but thwarted by Federal Regulators citing antitrust laws. How much has changed in the landscape during the last three years? Quite a bit. Time Warner and Comcast now control the bulk of the cable television industry, and telephone carriers such as Verizon, AT&T and Qwest are beginning to enter the television arena. At a recent media conference in Sun Valley, Idaho, EchoStar CEO Charlie Ergen stated that the combination of the nation's two largest satellite TV providers could save $3 billion in expenses. In contrast, News Corp. Chairman Rupert Murdoch, who controls DirecTV, expressed doubts that Ergen would sell, but the Los Angeles Times quoted a number of sources who claimed that Murdoch was working on "something." What that “something” is the big question. At this point, there are many positives that companies such as Direct TV and Echostar could point to in their argument to allow a merger or buy-out to happen. The competition is now coming from areas that only three years ago were likely not even thought of by many. The same now holds true for satellite radio.   When satellite radio licenses were first issued, the I-Pod was not even conceived. MP3 players were not yet the rage, and cell phone companies were all about making phone calls. Today, consumers have a lot of choice in how they receive their content. This explosion of technology and explosion in modified business plans can potentially have an enormous impact on what regulators consider when they are presented with a case for a merger. Now more than ever regulators need to think further down the road. Another aspect of this is that it may be a method for regulators to garner a little bit more control over the bandwidth dedicated to the satellite entertainment industry (be it radio or television), what is broadcast on it, and how widely available it may be. The government can essentially approve such actions contingent upon other actions. If that happens, the parties involved would have a business decision to make. Can a merger happen in satellite radio or satellite television? Yes, it can. Are there substantial obstacles? Yes there are. What it really boils down to is how receptive the companies involved are to the idea, and then how strongly they are willing to pursue it. The idea is intriguing for investors because most can clearly see the cost savings associated with the idea. Costs for these companies has always been a concern for investors. The elimination of costs would be something well received on the street. One thing is certain........If regulators were to allow Direct TV and Echostar to merge, you can bet that speculation for Sirius and XM be at a fever pace. SSG cautions readers to note that at this point all of this merger and buy-out talk is speculation. However, investors should keep their eyes on technology as a sector and be aware of the various scenarios that could pan out. 7/18/2006 11:32:00 AM
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Update on XMSR vs. RIAA
Associated Press (via www.forbes.com) XM Satellite Asks Judge to Throw Out Suit By TED BRIDIS , 07.17.2006, 07:51 PM XM Satellite Radio asked a federal judge Monday to throw out a copyright lawsuit by the recording industry over the company's new iPod-like device that can store up to 50 hours of music. XM Satellite said the 1992 Home Recording Audio act protects it from being sued over its $400 handheld "Inno" device. The law bans some copyright claims against equipment makers and consumers who make digital music recordings for private use. In a court filing, XM Satellite said the 1992 protections represent "Congress' efforts to insure that the powerful recording industry would not be able to restrict the right of consumers to record songs that are broadcast over the radio or stifle innovation by chilling the development and use of the latest recording technologies." The lawsuit, filed in May in New York by the largest record labels, accuses XM Satellite of "massive wholesale infringement" because the new gadget can record hours of music and automatically organize recordings by song and artist. The device is sold under the slogan, "Hear it, click it, save it." XM Satellite noted that the trade group for the largest labels, the Washington-based Recording Industry Association of America, supported passage of the 1992 law. A spokesman for the recording association, Jonathan Lamy, said XM Satellite's legal arguments were "arcane." "If XM wants to compete with iTunes, Rhapsody and similar music distribution services, it needs to obtain the appropriate authorization," Lamy said. The music industry's lawsuit sought $150,000 in damages for every song copied by XM Satellite customers using the devices, which went on sale in April. The company said it plays 160,000 different songs every month. XM subscribers pay $12.95 per month to listen to more than 170 channels of entertainment, sports and news programs. Music recorded on XM's Inno sometimes includes disc-jockey chatter at the start and end of some songs and includes static if reception fades while a song is recording. The lawsuit does not directly seek any payments from or sanctions against XM subscribers who record songs. But it accuses XM Satellite of contributing to copyright violations by its subscribers and inducing customers to break the law, so it's unclear whether consumers could eventually be sued, too. In a related court filing Monday, the Consumer Electronics Association, a leading trade association for equipment makers, sided with XM Satellite. It also said the company was protected against such lawsuits by the 1992 law. The Home Recording Rights Coalition, a consumer advocacy group, also joined in CEA's court filing. XM Satellite has balked at the industry's efforts to sell expensive distribution licenses similar to those required for Internet downloading services, such as Apple Inc.'s iTunes. Its chief rival, Sirius Satellite Radio Inc., has already agreed to pay for such licenses to cover similar gadgets for its service. XM Satellite has compared its new device to a high-tech videocassette recorder, which consumers can legally use to record programs for their personal use. It also noted that songs stored on the device from its broadcasts can't be copied and can only be played for as long as a customer subscribes to its service. Link to article: HERE7/18/2006 03:54:00 AM
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Chrysler's New In-Car Entertainment Unit Featuring Sirius Real-Time Traffic
 Orbitcast posted this today: Chrysler's MyGig In-Car Entertainment with SIRIUS Real-Time Trafficwww.orbitcast.com, July 17th, 2006Chrysler will be unveiling their next generation in-car entertainment starting with the 2007 Sebring sedan: MyGIG. TechnoRide got a up close look at the technology in NYC and have a very detailed writeup on it. Essentially, the system is based on an embedded MyGiG 20Gb HD. Features include SIRIUS Satellite Radio with Real-Time Traffic, AM/FM radio, CD/DVD player, a 20Gb HD, a USB jack, line-in jack, two audio outputs, Bluetooth hands-free calling and a 6.5-inch touchscreen with voice control. The MyGIG 20Gb harddrive holds the navigation software (removing the need for a dedicated DVD drive like most nav systems). Other features include the ability to rip CDs onto the HD directly in the car, plus the USB port lets you transfer music and pictures onto the unit. They could have sported for a little more than a paltry 20-gigger, but hey, it's one step closer to the "connected car" concept becoming reality. The embedded SIRIUS Satellite Radio is a single chip in the radio, instead of a separate module, with real-time traffic reporting and the ability to route you around a traffic tie-up.TechnoRide notes that the MyGiG 20GB HD will also initially be offered in the Dodge Nitro and Jeep Wrangler, before being spread across the model lineup of each brand.[ TechnoRide via Autoblog] link to article: HERE7/17/2006 09:21:00 PM
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Satellite Radio Institutional Activity as of June 30
  July 17, 2006 Satellite Standard Group keeps you informed. Below is the latest institutional activity for Sirius and XM: PLEASE NOTE THAT THE FILING DATE FOR INSTITUTIONS IS AUGUST 15, 2006 FOR THE PERIOD ENDED JUNE 30. THIS MEANS ADDITIONAL DATA WILL BE AVAILABLE AS IT IS FILED. SIRIUSNumber of Holders = 346Shares Held = 432,390,041New Positions = 44Shares In New Positions = 17,877,801Increased Positions = 126Shares Of Increased Positions = 120,119,247Decreased Positions = 159Shares Of Decreased Positions = 79,795,191Holders With Activity = 285Shares Of Activity = 199,914,438Sold Out Positions = 59Share Of Sold Out Positions = 31,400,856 Institutional Ownership = 30.8% XMNumber Of Holders = 359Shares Held = 252,329,249New Positions = 48Shares In New Positions = 13,999,502Increased Positions = 161Shares In Increased Positions = 83,833,013Decreased Positions = 158Shares In Decrerased Positions = 67,678,533Holders With Activity = 319Shares Of Activity = 151,511,546Sold Out Positions = 56Shares In Sold Out Positions = 13,461,332
Institutional Ownership = 97.7%
7/17/2006 04:10:00 PM
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NFL Draft Is Heating Up
  Patriots Chat With NFL Insider Adam CaplanSite StaffPatriotsInsider.com Jul 17, 2006 Are you wondering about the Patriots’ interest in one or more free agent defensive backs? Curious about whom New England has been talking to and may be interested in? PatriotsInsider.com is ready to get you answers to those questions and many more when we talk to Adam Caplan of Sirius NFL Radio Tuesday Night at 9pm! Patriots Insider Chat with NFL Expert Adam Caplan: On Tuesday, July 18th at 9:00 p.m. EST, PatriotsInsider.com will host an exclusive chat with Adam Caplan of Sirius NFL Radio. This will be held in the Patriots Insider Chat Room and is available to all Patriots fans and visitors to Patriots Insider. A national reporter for Sirius and a partner at footballinjuries.com, Caplan has been a contributor to Scout.com for many years and has been a source for a great deal of free agent signing news, as well as exclusive draft information. His work is also featured on ESPN Radio, and he's done analysis for the NFL Network. Adam is dialed in with many teams - and though he'll be happy to answer your questions about free agency and the draft as those issues pertain to the Patriots, there could be room for questions about other teams and players if time permits. Link: HERE7/17/2006 03:58:00 PM
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Cramer on Sirius & XMSR, Today's RealMoney Radio
 I find it hard to believe that Sirius would bid for XMSR, but Cramer continues to mention it. RealMoney Radio Recap: Practicing Patience By TheStreet.com Staff7/14/2006 3:26 PM EDT "Cramer said he believes that XM Satellite Radio ( XMSR - news - Cramer's Take) will one day indeed get a takeover bid from Sirius Satellite Radio ( SIRI - news - Cramer's Take). While Sirius has accelerated its earnings growth and has met every aggressive target it has laid out for itself, XM Radio has also set aggressive targets, but has gotten hammered. Although XM Radio's fundamentals are deteriorating, Cramer said at $12, because the stock is close to being rescued by Sirius, he doesn't believe people should let go of it yet." link: HERE7/17/2006 03:35:00 PM
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Harley Davidson Introduces Portable XM Unit
  Monday, July 17, 2006 XM Satellite Radio, Harley-Davidson Announce All-New Road Techt AL20 XM Satellite Radioby Chance Patterson WASHINGTON, D.C. -- XM Satellite Radio, the nation's leading provider of satellite radio, and The Harley-Davidson Motor Company, the first motorcycle manufacturer to offer factory-standard XM Satellite Radio on select models, are offering riders an all-new option for enjoying their favorite "motor music" from coast to coast. The new Road TechT AL20 XM Satellite Radio, introduced today at the Motor Company's national dealer meeting, is the first portable XM unit exclusively designed for many 1996 and later model Harley-Davidson motorcycles. The handlebar mounted Road Tech AL20 radio is available immediately through the Harley-Davidson Parts and Accessories program for an MSRP of $249.95. Link to full article: HERE7/17/2006 01:06:00 PM
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Opie & Anthony...Is XMSR Diluting Their Content, Or Adding To Their Bottom Line?
 O&A Network Adds Eight MarketsBillboard Monitor July 17, 2006 By Mike Boyle, CBS Radio XM Satellite Radio syndicated morning personalities Gregg “Opie” Hughes and Anthony Cumia have cut a deal with Citadel Broadcasting to beam their show into eight new markets.The stations include: sports WSKO-AM Providence; classic hits WMOS New London, Conn.; rock WKLQ/classic rock WILZ Grand Rapids, Mich.; modern rock WBSX Wilkes Barre, Pa.; classic rock KBZU Albuquerque; modern rockers WCYY/WCYI Portland, ME; modern rock WEDG Buffalo; and classic hits KRDJ Baton Rouge.All of the new outlets will air the show from 6 a.m.-9 a.m., with the exception of WBZU, where the show will air in afternoons from 3 p.m.-5 p.m."O&A is one of the most popular shows on XM, and now they’re reaching millions of new listeners. This is an example of how we're able to leverage our content in ways that help build our business,” XM executive vice president of programming Eric Logan said in a release.In addition to the Citadel stations announced today, “Opie and Anthony” is heard on 11 CBS Radio stations in New York, Boston, Washington, D.C., Philadelphia, Detroit, Dallas, Pittsburgh, Cleveland, Rochester, Columbus, and West Palm Beach.Hughes and Cumia joined XM in 2004 and announced their syndication agreement with CBS Radio in April. Link to article: HERE7/17/2006 11:51:00 AM
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More on Microsoft's "iPod killer"
 Microsoft's 'iPod killer' threatens to crumble AppleThe rumours are rife and the plan is cunning, writes Chris Ayres The Austrailian, 17jul06 AS soon as they had the call from Microsoft's headquarters in Washington state, the record company executives knew something huge was about to happen.Microsoft's developers and marketers wanted to show the Los Angeles music moguls something new, and they wanted to do it in person. Appointments were made, flights were booked. Within hours, rumours were zinging through cyberspace -- the music industry not exactly having a reputation for discretion. Before long, Microsoft's top-secret new gizmo had an unofficial nickname: "the iPod killer". Since the meetings, no music executive has dared break their non-disclosure agreement to talk publicly about what they were shown. Microsoft is not strictly a manufacturer -- when it decides to make gadgets, it does so on an epic scale, as Sony found out to its cost when the PlayStation games console came up against the Xbox. Further rumours surfaced last week about the iPod-killer, the most interesting, perhaps, being its internal code name: Argo, in honour of the warship of Greek mythological hero Jason, or so claimed The Seattle Times. The report also said the device was being developed by the same team that brought the Xbox to market and might be part of an entire line-up of digital media players sold under the Xbox brand. Many in the industry think Microsoft chief executive Steve Ballmer -- known for shouting so loud at meetings he injured his vocal chords -- has smelled blood at Apple, which is reportedly having problems getting its new line-up of iPods ready for Christmas. Apple has not commented. Ballmer's cunning plan? To skip ahead to the next generation of devices by offering a rival player that can download songs from "hot spots", such as the wireless networks in Starbucks coffee shops. Ballmer has an added incentive to succeed: he wants to prove himself, now that Bill Gates has signalled his retirement to devote his life to philanthropy. Taking down the iPod, and Apple's co-founder Steve Jobs with it, would show that Ballmer was Gates's equal. Those who have seen the Microsoft device say its cleverest trick is the ability to hook up to wi-fi networks and share songs with other nearby Microsoft players. If you sat next to someone in Starbucks, for example, you could listen to their record collection free. Alas, because of fears over music piracy and lawsuits from record companies, there will almost certainly be no facility to keep the music when the other player moves out of range. Microsoft is already in a position to offer music to users over the internet, having forged a partnership with MTV, the music television broadcaster, to launch Urge, an online music store. It is thought Microsoft is also looking at ways to allow users of Apple's iTunes to transfer their music to a Microsoft equivalent for free. So far, neither Apple nor Microsoft have said anything publicly about the iPod-killer. But Apple investors are already spooked and shares in the company are at a nine-month low after a series of negative analysts' reports on Wall Street. Credit Suisse First Boston last week warned the company might forecast revenues as low as $US4.6 billion ($6.11 billion) for the last quarter of the year, compared with hopes of $US4.9 billion. Why? Because it is allegedly cutting back on shipments of its current generation of iPods to make way for the new ones in time for Christmas. On top of that, many Apple fans had been hoping for the ultimate iPod before Christmas: a widescreen version featuring a display that would take up virtually the entire device, and touch-screen controls instead of the iconic iPod scroll-wheel. There was even talk of wireless Bluetooth headphones. But no one is sure that Apple can pull this off in the immediate future. Phil Leigh, founder of the internet research company Inside Digital Media, believes Microsoft has no choice but to act: "They have simply got to offer an alternative to the iPod. It's similar to what happened with video games and the Xbox." But slicing the Apple will not be easy. Apple controls about 80 per cent of the market for music players and about 75 per cent of the market for legally downloading songs. And songs downloaded to an iPod cannot be transferred to a rival device, and vice versa. The formats are as incompatible as VHS and Betamax and, just like the video wars of the 1980s, there will only be one winner. Link to article: Here7/17/2006 10:07:00 AM
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Tie Up Between GM and Ford???
  COMMENT FROM breakingviews DOW JONES REPRINTS 'Big One' Might BeDetroit's Best Bet
Tie-Up Between Ford, GM Would Cause Some Pain,But Create a Stronger FirmJuly 15, 2006; Page B16 The survival of the American car industry requires the barons of Detroit to think radically -- something they've thus far avoided doing. Now is the time for their conservative minds to consider something truly transformational: a merger of General Motors and Ford Motor. That may sound wacky. After all, how could antitrust watchdogs ever allow such a deal? And the complexity is enormous -- probably far beyond the capabilities of both companies' managers. They're fighting for their jobs as things stand. But it bears serious consideration. The Big One -- as a GM-Ford combination might be dubbed -- would be in a much stronger position to tackle legacy costs in bargaining with unions, suppliers, health-care providers, dealers and the government than they presently are today as fierce rivals. The savings would be tremendous -- far larger than anything the Nissan Motor-Renault alliance presents. If a merged GM-Ford reduced costs equal to 2% of sales -- one common M&A benchmark -- the capitalized value of the savings could be some $40 billion -- well above their $30 billion of combined market cap today. Antitrust issues would have been a hurdle in the past -- but perhaps not today. In March, Washington approved the Maytag-Whirlpool combination despite its control of 70% of the U.S. washer-dryer market. Because GM and Ford have witnessed precipitous declines in their competitive positions, they have just about 40% of the U.S. auto market. Moreover, as Japanese -- and even Chinese -- rivals expand production in the U.S., that decline in market share is likely to continue. Toyota's annual capital expenditure is already as large as Ford and GM combined. Yet it has fewer models to develop because it has only three global brands. GM and Ford have nearly two dozen. Because a merger would only make sense if it eliminated entire brands -- such as Buick, Pontiac and Mercury -- further market-share losses would also be anticipated. Of course, the unions wouldn't like any of this. They might even strike. And car dealers would need to be compensated. As a united force, though, the Big One would be well placed to negotiate with both. And it would have cash to weather many storms. The likely alternative is a slow and painful decline. In the long run, that is probably worse for workers, car salesmen, investors -- and America. Bring on the Big One. The Ratings Game Washington wants to open up the credit-rating business. Reformers hope that by increasing the number of officially recognized practitioners, future Enrons will be spotted before they collapse. Such expectations are unrealistic. McGraw-Hill unit Standard & Poor's and Moody's Corp., the parent of Moody's Investors Service, enjoy higher margins than Microsoft. That's because they face little competition. The two have a combined market share of more than 80%, with Fimilac SA's Fitch Ratings trailing third at around 15%. Critics say this oligopoly has been created by government fiat. In the 1970s, the Securities and Exchange Commission required regulated financial institutions to invest in securities that had been rated by so-called "Nationally Recognized Statistical Ratings Organizations." At the time, there were seven of these. Today, there are only five. The fact that SEC-approved raters need to be "nationally recognized" creates a Catch-22 for would-be entrants. They need to be large to receive official status, but without that status how can they grow? A bill winding through Congress would allow any firm which has provided ratings for three years or more to apply for official recognition. This overhaul won't change the competitive landscape. As long as raters are paid by bond issuers, the business will remain highly concentrated. Issuers are relatively insensitive to the annual cost of ratings. But they don't want to deal with many different raters since it would be time consuming. That explains why Fitch has made little headway against its larger competitors. The leading firms also have tremendous brand names. Despite the odd slip-up, they've earned credibility. Ratings have been a good indicator of future defaults. Investors often specify that the issuers' debt must be covered by named raters. Reform may get rid of the regulatory barrier to entry but it won't drain the moats surrounding the rating companies. What's on eBay At the Allen & Co. conference in Sun Valley this past week, eBay boss Meg Whitman delivered a colorful presentation about the online auctioneer's business. A slide not on display: one showing its sinking stock price -- eBay is down 40% this year. There could be more bad news when the company releases second-quarter earnings Wednesday. It will take time to sort out eBay's many challenges. Not least of these is what to do with Skype. Investors haven't warmed to last fall's $2.6 billion takeover of the Internet telephone firm. This business faces increasing competition and has yet to produce meaningful returns. Meanwhile, eBay's core auction business is slowing. Revenue growth fell to a new low of 28% in the first quarter. That has had a knock-on effect on its PayPal payments system, which also faces growing competition from Google. But with eBay's stock selling for 15 times estimated 2007 earnings before interest, taxes, depreciation and amortization, Wall Street already has priced in much of the bad news. That offers Ms. Whitman an opportunity. eBay's balance sheet is strong. It sports about $3 billion in net cash -- enough to buy back almost a tenth of its stock. Because eBay throws off about $2.5 billion in cash annually, it could continue returning cash to shareholders in years to come. To Sun Valley's assembled moguls Ms. Whitman referred to eBay's purchase, payment and communications businesses as the Power of Three. But to score, eBay needs to touch four bases. A buyback might do the trick. Link to article: HERE7/17/2006 08:14:00 AM
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Orbitcast: XM Fights Back Against the RIAA-backed PERFORM Act
Orbitcast posted this article. Be sure to take a look at the PDF files linked below to fully understand how biased the RIAA's position is. XM Fights Back Against the RIAA-backed PERFORM ActLink to Orbitcast post: HEREXM Satellite Radio is not sitting on their hands when it comes to the PERFORM Act (which the Senate Judiciary could take up as soon as the end of July). Following the misinformed letter from Congressman Tom Latham, here's a fact-sheet created by XM ( PDF) that outlines specifically what the Pioneer Inno and Samsung Helix can and cannot do. Two key points: Users cannot automatically record individual songs or artists. Users cannot pick what songs are played on XM, or access a playlist of songs that are to be played. It's amazing how much misinformation is being spread by the RIAA regarding the capabilities of the Inno and Helix. These devices are no different than cassette recording, but with slick PR and well connected lobbyists, the RIAA is making sure to spread misleading statements. In fact to illustrate the far reaching tentacles of the RIAA: the Senator who is championing the PERFORM act - Senate Majority Leader Bill Frist R-Tenn. (arguably the most powerful Republican in the Senate) - appears to have some special interest in getting the PERFORM Act to the floor. "I guess he sees this as his last chance to do something parochial for his constituents," a GOP aide said to Roll Call ( PDF), referring to the multibillion-dollar country music industry centered in Nashville, Tenn. "It was made pretty clear at the staff level — there would be very little chance this [telecom] bill would get floor time if this wasn’t in the bill." But beyond a home-state interest, another enlightening fact is that the former Frist Chief of Staff - Mitch Bainwol - now heads the RIAA. Connected? You think? In recent House testimony, the RIAA’s Bainwol said, "With these devices, you can tape without listening. That’s not old-fashioned listening to the radio. You’ve changed the fundamental nature of radio." (Is it really? Have you really?) To your right is an ad that XM recently ran in two Capitol Hill newspapers: Roll Call and The Hill ( PDF). It highlights a real-life scenario of an artist - struggling to sign with a Nashville label - who was able to gain an audience thanks to satellite radio. If the RIAA was truly concerned about the artists, and not in stifling technology that might be a threat to CD sales, they would work with the satellite radio industry rather than against it. The ironic thing is that they're going against an industry that can lengthen the long tail of CD sales by promoting back-catalog and indie artists. What's unfortunate is that they don't see that (or choose not to), and it's even more unfortunate that powerful Senators like Bill Frist are in their pocket - helping bring this battle to Washington, rather than where it belongs - on the free market. PDFs:[ Roll Call Article] (highly recommended)[ Inno/Helix Fact Sheet][ XM Artist Ad] (If you haven't done so already, please write your Senator and voice your opposition now. Time is running out.) 7/16/2006 01:22:00 PM
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New York Times: "Is Ford Running on Empty?"
Ford Made the front page of the NY Times Sunday Business Section. Below are some excerpts, and the link to full article is HERE: Is Ford Running on Empty?
By MICHELINE MAYNARD, New York Times, July 16th, 2006, Dearborn, Mich. William Clay Ford, Jr: “There’s nobody that has more at stake in this company than I do,” he said in a recent interview here. “Not just financially, but emotionally, and historically and everything else.” Mr. Ford’s challenges are extraordinary. His company reported losses of $1.6 billion in North America last year and lost $1.2 billion worldwide in the first quarter this year. On Thursday, Ford halved its quarterly dividend to a nickel to preserve cash, and analysts expect the company to report tepid second-quarter earnings this week. Many are already forecasting a third-quarter loss. With analysts speculating that the dividend cut means that Ford’s fortunes are worsening, Mr. Ford issued a statement noting that “the headwinds we faced at the beginning of 2006 have only become stronger.” A casual and ebullient man, Mr. Ford personally owns 6.3 million Ford shares, making him the company’s largest individual holder. The extended Ford family as a whole, which reasserted itself five years ago when it led the ouster of Jacques Nasser as chief executive and replaced him with Mr. Ford, owns 40 percent of the company’s super-voting shares. Ever since Mr. Ford assumed Mr. Nasser’s mantle, there have been doubts, some only thinly veiled, among analysts, investors and employees that he has the chops for the job. BUT while Mr. Ford has partially streamlined Ford’s bureaucracy and become its public face during his tenure, some of his instincts have not born fruit. A devoted environmentalist, he still bowed early on to the wishes of Ford’s entrenched middle managers and senior executives who wanted the company to keep churning out very profitable but gas-guzzling sport utility vehicles and pickup trucks during a period when oil prices were dirt cheap. Had Mr. Ford produced more fuel-efficient vehicles like hybrids sooner, he not only would have found his company keeping pace with nimble foreign competitors like Toyota when oil prices spiked, but he also would have been able to illustrate the bottom-line merit of his environmental values. Instead, Ford, is again in the all-too-familiar spot of playing corporate catch-up. The family’s financial stake in Ford, including nonvoting common stock and a more powerful and separate class of voting shares, is currently worth approximately $460 million, down almost half since Ford celebrated its 100th corporate birthday three years ago; Mr. Ford’s personal stake is worth about $43 million. A combination of financial self-interest and a prized familial legacy makes Mr. Ford’s tasks more personally imperative than they might typically be at other public companies in need of a turnaround — like G.M., for example, whose headquarters Mr. Ford can spy from his office on a clear day. As Mr. Ford watches G.M. entertain a potentially historic alliance with a French automaker, Renault, and a Japanese automaker, Nissan, he says he will not rule out a similar path for his company, which already has management control of another Japanese auto company, Mazda. But Mr. Ford said he had more pressing concerns. “Regardless of any deal that we might envision,” he said, “the fact is that we have to fix our North American business.” “Mr. Ford bluntly contends that managers stymied him, as both chairman and chief executive, by getting in the way of projects like the Rouge plant and a hybrid version of the Ford Escape, a small sport utility vehicle. The Escape Hybrid, which Ford began developing in 1998 in response to Toyota’s hybrid plans, languished for nearly six years before reaching the market. Even then, Mr. Ford said, he had to fight with marketing officials who argued that there was no point spending much money on a vehicle that generated sales of only 20,000 units a year, despite its symbolism as the first hybrid from a Detroit car company. “Ford’s lineup includes two hits: the Mustang and the Fusion, one of three midsized cars that the company rolled out in the last year. Thanks to this pair, Ford’s car sales are up this year even though its overall sales and market share are down from 2005, continuing a decline that began around the start of the decade. Ford’s overreliance on pickup trucks and S.U.V.’s has hurt it. The latest version of the Explorer, long its best-selling sport utility, made its debut last fall just as gas prices began soaring; sales of the vehicle have slumped. Consumers, meanwhile, are clamoring for fuel-efficient small cars, but in the United States Ford does not sell anything smaller than the Focus, leaving a missing rung at the bottom of its product ladder and another gap in its pro-environment philosophy. To jump-start things, Ford executives say, they have to develop vehicles they can sell without discounts and which buyers will load with expensive options like navigation systems and powerful engines. The Way Forward pins Ford’s hopes on innovation, which Mr. Ford says is exemplified by cars like the Escape Hybrid, the Fusion and the Mustang. FORD needs to act quickly on its vow to innovate. Toyota blew by DaimlerChrysler this spring to claim the No. 3 spot in American auto sales. Next in Toyota’s sights is Ford. True innovation, as illustrated by vehicles like Toyota’s popular Prius, is an elusive goal in an industry that typically needs more than three years to bring its cars to life. That may be more time than Mr. Ford has — and he is battling a culture that still clings to some vestiges of its more prosperous past. “There should be signals,” Mr. Aversa said. “When things go well, you can take your time and plan for the long term. But when things go rough, you have to execute and do things with a sense of urgency.” Last week’s dividend cut may be one such signal, but whether the Way Forward is the plan and Mr. Ford the right executive to carry it out remain topics of debate among analysts. “Either you intensify this plan and look at the whole business model brutally or you get someone else to do the job,” Mr. Casesa said.7/16/2006 10:53:00 AM
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Besides Nissan-Renault, Toyota Eyes Alliance With GM; Ford Global Alliances Soon To Follow?
lobaAFX News Limited Toyota eyes alliance with GM - report
07.16.2006, 09:34 AM, via www.forbes.comCHICAGO (XFN-ASIA) - Toyota Motor is considering proposing an alliance with General Motors to prevent its US rival from forming a three-way tie-up with Renault and Nissan, BusinessWeek magazine reported Saturday. Citing 'people with knowledge of the Japanese auto maker's plans,' the magazine said Toyota had 'war-gamed' a proposal to assist struggling GM, the world's largest auto maker, and head off a deal that would create a monolithic automotive group. 'Toyota has no interest in seeing an alliance like this (linking Renault, Nissan and GM) take place,' an executive who asked not to be identified was quoted as saying. The magazine said 'whether Toyota actually makes a bid remains to be seen.' It contacted several GM executives who said the company has heard nothing from Toyota. And Toyota spokesman Steven Curtis told BusinessWeek that any talk of an offer is 'pure speculation.' The Japanese auto maker is wary of more than just the competition that would result from an alliance between GM, Renault and Nissan, whose chiefs met Friday in Detroit, Michigan, and agreed to conduct a 90-day joint review of a potential alliance. Toyota is concerned about the political and social backlash that could result if GM falls apart, the magazine said. However, an equity tie-up -- like that proposed by GM's largest private shareholder Kirk Kerkorian, would be unlikely, the magazine said, citing 'one source familiar with Toyota's strategy' who explained: 'It's not in their culture.' Attempts by Agence France-Presse to contact GM and Toyota in the US for comment were not immediately successful. link: HERE7/16/2006 10:34:00 AM
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Where There's Smoke, There's Fire...Microsoft/Sirius iPod Killer?
 Satellite Standard has posted a few notes on this topic ( LINKS) and now we see another post on Sirius Backstage, ( Link), corroborated by www.thinksecret.com and www.endgadget.com. Remember, Sirius and Microsoft are already partners on the development of a mobile video service. As posted on www.siriusbackstage.com: "Microsoft recently announced (after much leakage) their Zune media player. This player will be in direct competition with the iPod, although it will offer more features but as to what those are have not been confirmed. It is rumored, however, satellite radio may be one of them. ThinkSecret.com recently wrote an article containing the following: Along with Wi-Fi, Microsoft is said to be considering a satellite radio receiver option for the device. A partnership with a large company like Microsoft would certainly help Sirius. It is safe to note that any partnership with Microsoft's player would more than likely wipe out any future chances at a partnership with Apple. We'll keep you updated if anything develops." 7/16/2006 08:05:00 AM
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How Can Satellite Radio Be More Relevant (Part 2)?
I posted an article on July 14th ( link) highlighting the need for satellite radio to market to a broader audience, ie, include the NON-DISCRETIONARY consumer. We are entering a time of waning consumer confidence, global turbulence, and higher inflation. Nobody knows how long this will last. Sirius and XMSR could wait it out (and risk being behind the curve), or, with very little effort, simultaneously market to two types of consumers: 1. those who WANT satellite radio; 2. those who NEED satellite radio. Times are changing. Consumers are delaying purchases of durable goods, homes, and discretionary items. To confirm this, check out the charts of the following stocks:
Best Buy, BBB: slowing consumer electronics sales
Corning Glass, GLW: fewer flat screen TV purchases
Lennar Homes, LEN: declining home sales, surging inventory
Apple, AAPL: lower iPod sales
Dell, DELL: fewer computer sales
Worries that are on people's minds include: hurricane season, summer electrical outages, escalating tension in the middle east, and terrorism. It would be simple address these, for example:
It's hurricane season.
Never miss a beat with a Sirius/XMSR Boombox Battery operated, __ Channels of News & Weather
Be the first to know with a XMSR Samsung Nexus Never be out of the loop News how you want it, when you want it
 7/15/2006 08:49:00 AM
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SoBe Gets Sirius
 July 14, 2006 Sobe has a drink called "Full Throttle", and right now you can enter to win some pretty impressive prizes. Included in the prize package are a Sirius S50's with a 1 year subscription.  This type of cross promotion has served Sirius Satellite Radio well. Companies are always looking for "HOT" items to include in their contests, and it bodes well that Sirius has hooked up with some of these companies. The companies get top notch products to attract consumers, and Sirius gets some great exposure. Interested SSG readers can learn more about the promotion from SoBe HERE7/14/2006 11:24:00 PM
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Jazz It Up With Sirius
 July 14, 2006 SIRIUS SATELLITE RADIO WILL CELEBRATE CHICAGO JAZZ WITH A SPECIAL “CHICAGO JAZZ WEEKEND” JULY 22 & 23 NEW YORK - July 13, 2006 - In response to recent news that Chicagoans will be losing their terrestrial radio outlet for jazz music, SIRIUS Satellite Radio will celebrate the city's rich jazz sounds with a special Chicago Jazz Weekend on Saturday, July 22 and Sunday, July 23. The Chicago Jazz Weekend will be broadcast on channel 72, Pure Jazz, and will feature these special programs: Blowin' in from Chicago: The Tenor Sound (July 22 from 10 am ET to 4 pm ET)
Nothing exemplifies the sound of Chicago better than the tenor saxophone. With its roots in the blues, R & B, swing, and pop, the Chicago sax sound is as multifaceted as the city itself. Host Rhonda Hamilton will present legends of the horn including Gene Ammons, Von Freeman, Johnny Griffin, and Clifford Jordan. She'll also feature highlights from SIRIUS' recent session with Eric Alexander, a young saxophonist who cut his teeth playing the Chicago clubs.On the Town: The Chicago Scene (July 22 from 4 pm ET to 10 pm ET) Host Les Davis takes you out to the clubs and concert halls of the Windy City. From the London House to the Opera House and everywhere in between, you'll hear some of the greatest live jazz recordings ever made--including Ahmad Jamal at the Pershing and Kurt Elling at the Green Mill. Artist's Choice with Gary Burton: Chicago Sunday Brunch (July 23 from 10 am ET to 4 pm ET)
Vibraphone legend and SIRIUS jazz DJ Gary Burton features musicians from Chi-town for this week's show. From Benny Goodman and Lionel Hampton to Gene Ammons and Herbie Hancock, you'll hear a variety of favorites from Chicago's rich musical tradition. The Next Generation: Chicago Today (July 23 from 4 pm ET to 10 pm ET)
SIRIUS' Chicago Jazz Weekend will conclude with a look at Chicago's jazz future. Hear some of the most creative and promising artists on the scene today, including Kurt Elling, Patricia Barber, Jim Gailloreto and Henry Johnson. The names might not be familiar--yet--but you'll adore the music.
SIRIUS offers an array of commercial-free jazz, standards and blues channels and programming, which feature such distinctive on-air hosts as GRAMMY-winning jazz artist Gary Burton; EMI Jazz & Classics President and CEO Bruce Lundvall; award-winning smooth jazz artist Jeff Lorber; and GRAMMY-nominated blues artist Shemekia Copeland, among others. Article from Allaboutjazz.com HERE7/14/2006 11:02:00 PM
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XM Canada Raising Prices from $12.99 to $14.99, Matching Sirius
XM Canada matches Sirius rateGRANT ROBERTSON Globe and Mail Update, 7/14/2006 XM Canada is abandoning the price advantage it held in the satellite radio market for the past eight months, raising its monthly subscription rate to match rival Sirius Canada. Canadian Satellite Radio Holdings Inc., which launched XM Canada last November, made the announcement Friday as it posted a loss of $20.4-million or 43 cents a share for the third quarter. Revenue for the three months ended May 31 was $2.34-million. Executives said the decision to raise subscription prices by $2 or 15 per cent to match the $14.99 monthly fee of its competitor was not related to the losses. “We had planned a price increase a long time ago, the reality is we decided to announce it (Friday),” Steve Tapp, chief operating officer of XM Canada, said in an interview. “It's more about our confidence in the strength of our business. We never intended to have our service marketed as a price advantage.” XM Canada said in April that it had no immediate plans to raise its monthly subscription price. In the United States, both XM and Sirius sell their services for $12.95 (U.S.) a month, and the move puts the Canadian subscription rates of the two brands on par with each other. The Canadian rate increase takes effect Sept. 1. However, existing customers will keep the cheaper rate for another year after that, Mr. Tapp said. Because this is only the second full quarter the company has reported since its launch, there are no comparable figures from a year ago. In the second quarter, which ended in February and included the Christmas selling season, Canadian Satellite Radio had a loss of $44-million (Canadian) or $1.05 a share. Revenue for that quarter was $1.14-million. Canadian Satellite Radio expects to record losses in its first year or more of operations because of startup costs. Carl Bayard at Desjardins Securities said the higher price is more likely the result of the company believing the service can be sold for more, rather than a need to pull in more revenue amid losses. “If they see fit to raise their price, that means subscribers are progressing in excess of what they had anticipated and they think the product is strong enough to increase the price,” Mr. Bayard said. The company spent $69 for every new subscriber it added in the quarter, with most of that money going to marketing and subsidies on radio receivers to entice new customers. Canadian Satellite Radio said it had 80,000 subscribers as of May 31. link to article: HERE7/14/2006 10:55:00 PM
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Antex SRX-3 "Triple Play" Sirius Receiver Review
 July 14, 2006 Home Theater Mag did a review of the Antex SRX-3. Excerpts: .........The SRX-3 is a rack-sized box with a nice slab of gray matte aluminum for a faceplate. To the left of the pale-blue-backlit liquid-crystal display are buttons for power, category up/down, select, channel up/down, and, closer to the display, zone. On the right are a preset button and numeric keys, 0 through 9. Most of these controls are duplicated on a bare-bones remote, although you might never use it, because you'll either be in the same room with the unit or you'll operate it with whatever interface your custom installer installs.
Operating the unit face to face is simple and, if you've never used satellite radio before, rather fun. The category up/down keys make big jumps among channels. The station up/down keys navigate within each category. For more efficient surfing you can program the unit—pardon me, program each zone—to skip undesired channels. Each zone can also have up to 10 presets. The alpha human may also block channels in each zone, either out of parental concern or sheer cussedness. ("No Howard for you until you get your grades up. And you'd better rake those leaves, or I'll block the Death-Metal Porno Rap channel, too." "Aw, Mom!")
The blue LCD measures 2 inches high by 2.5 inches wide. Although it's pretty enough, you can only read it close up. It also has a limited viewing angle, as I discovered when some other review samples came in and the Antex had to move to the bottom of my rack. I had to get down on all fours, like some lesser primate, to get my face low enough to read it........You can read the whole story HERE7/14/2006 10:48:00 PM
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Breaking News-Hertz Corp IPO UPDATE
 This was a bit confusing. There were some conflicting news releases on the Hertz IPO. Essentially, the original IPO was withdrawn, a new IPO must have been simultaneously refiled, which included a $31.5 million tax restatement. Additionally, some reports mentioned Ford as the owner of Hertz, but the company was sold to a consortium of private equity firms in December of 2005. The company estimates the value of the offering at $1 Billion. So the deal is still on. (Hertz has an exclusive relationship with Sirius) "Dow Jones Newswires, 7/14/2006, 4:16 PM
Ford's Hertz Corp withdraws IPO." "Ford's Hertz Withdraws Proposed IPO (Realtimetraders.com 07/14 16:28:19)
Auto rental firm Hertz announced Friday that it has withdrawn its proposed initial public offering. The company did not give a reason for the withdrawal in the SEC filing revealing the decision. In mid-2005, the company, which is owned by Ford Motor Company, submitted papers to the SEC for the IPO. The company planned to raise up to $100 million through the offering, though it did not reveal the number of shares it planned to sell or an estimated price range for the transaction." "Hertz files to raise up to $1 bln in IPO (CBS MarketWatch 07/14 16:42:53)
SAN FRANCISCO (MarketWatch) -- Hertz Global Holdings Inc. after Friday'sclosing bell filed to raise up to $1 billion in an initial public offering.Goldman Sachs & Co., Lehman Brothers and Merrill Lynch & Co. are leadingthe deal's underwriting. Park Ridge, N.J.-based Hertz, a former subsidiary ofFord Motor Co. , said it plans to apply to list its common shares on the NewYork Stock Exchange under the symbol "HTZ." Clayton Dubilier & Rice Inc., Carlyle Group and Merrill Lynch Global Private Equity completed their $15billion acquisition of the vehicle rental company in December 2005." "Hertz Restates 2005 Results, Files For $1 Billion IPO DOW JONES NEWSWIRES July 14, 2006 5:32 p.m.
Hertz Corp. restated its 2005 results to correct a tax issue Friday and filed for an initial public offering. Hertz Corp., which filed the IPO under the name Hertz Global Holdings Inc., plans to re-enter the public market after being taken private six-and-a-half months ago. For filing purposes, the company estimated the value of the offering at $1 billion, but that figure doesn't necessarily reflect the ultimate value of the offering. The restatement will lower Hertz's net income for Jan. 1, 2005, through Dec. 20, 2005, by $27.5 million, to $371.3 million, Hertz said in a filing with the Securities and Exchange Commission. Hertz was acquired from Ford Motor Co. by a private-equity group -- composed of Clayton Dubilier & Rice, the Carlyle Group and Merrill Lynch Global Private Equity -- on Dec. 21, 2005. The restatement was due to an underestimation of taxes on repatriated foreign earnings while Hertz was still owned by Ford. Hertz increased the estimated tax expense by $27.5 million to $31.3 million to correct the error, according to Friday's SEC filing. Hertz said it discovered the error in June after Ford completed a detailed study to prepare its 2005 tax return. The tax expense for Hertz's repatriated earnings was incurred while Hertz was owned by Ford, and the increased tax amount will be paid by Ford, Hertz said. An IPO could represent a sizeable and quick profit for the private-equity firms who put up $2.3 billion of their own cash and took on an additional $13 billion in debt to purchase Hertz last year. ( See related story.) The firms have already earned back nearly half that cash investment, having paid themselves a $1 billion special dividend by issuing additional debt." 7/14/2006 04:22:00 PM
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FCC Meeting, July 13th, Deletion of Scheduled Item "Satellite Radio's Impact on Terrestrial"
We posted this on July 7th when announced: "FCC's Next Meeting: Satellite Radio's Impact on Terrestrial The FCC will be tackling the issue of Satellite Radio's impact on Terrestrial Radio at their next meeting. The agenda for the FCC Open Hearing includes the item"Digital Audio Broadcasting Systems And Their Impact On The Terrestrial Radio Broadcast Service" - scheduled for next Thursday, July 13th." But, I checked the FCC website (www.fcc.gov) today, and found this:DELETION OF AGENDA ITEM FROM JULY 13, 2006, OPEN MEETING
The following item has been deleted from the list of Agenda items scheduled for consideration at the Thursday, July 13, 2006, Open Meeting and previously listed in the Commission’s Notice of Thursday, July 6, 2006.
4 MEDIA TITLE: Digital Audio Broadcasting Systems and Their Impact on the Terrestrial Radio Broadcast Service
SUMMARY: The Commission will consider a Second Report and Order, First Order on Reconsideration and Second Further Notice of Proposed Rulemaking regarding digital audio broadcasting (MM Docket No. 99-325).
-FCC- Link to FCC notice: HERE7/14/2006 02:21:00 PM
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