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dean.psiropoulos(at)veriz
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 Posted: Tue Feb 20, 2007 7:46 pm Post subject: XM Sirius |
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Like the lawsuit we've been discussing ad nauseum for a month here Mike:
Neither XM nor Sirius would exist today if it weren't for several "insanity"
factors: schiesters on Wall Street enabling the sales and puffing up the
stock, their partners in crime at the brokerage houses looking for the next
commission, the Ivy League educated financial analysts who "know everything"
and can make a stock move just by upgrading or downgrading it. And....for
the piece de resistance, the gullible PEOPLE who think that every new whiz
bang technological marvel is going to make them millions if only they buy
some stock in the company (a holdover from the dot com days).
It costs upwards of $100 million dollars to buy and launch a single
communications satellite these days. Even Iridium (Sat Phone), a consortium
of big companies with deep pockets (Motorola et al) went broke. Now the
lucky people who picked up the company at fire sale prices are actually
making money with it. Neither of these companies either together or apart
will ever likely make money. It will be the lucky suitor of the bankruptcy
asset sale that will actually be able to make it work, and then only because
the purchaser didn't not have the huge upfront costs to deal with and the
purchase will come with an already installed base of subscribers and
hardware. So....who wants to pool their money with me to buy the company
after the merger (when it goes bankrupt)  ?
Please do not archive
Dean Psiropoulos
RV-6A #24907
Close to first flight
_______________________ Original Message __________________________________
| Quote: | Subject: RE: Sirius and XM
From: "RV Builder (Michael Sausen)" <rvbuilder(at)sausen.net>
Here is a link to the article. The FCC made their respective licenses
conditional on the fact they couldn't ever merge. Should be interesting
to see how this shakes out. I don't think anyone really ever expected
two companies to survive.
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cjensen(at)dts9000.com
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| Posted: Wed Feb 21, 2007 5:33 am Post subject: XM Sirius |
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Standard financial rule for high risk, high profile ventures, be it a
fancy restaurant, sat phones or sat radios...the third owners are the
only ones that make money.
Dean, ever notice how investment bankers make big bucks in fees and
commissions buying all these companies to put into a huge conglomerate
(Home Depot is the most recent example) citing the cost savings,
efficiency and market dominance of the huge new enterprise. Then 4-5
years later, when the business has gone down the toilet, the same
investment bankers come back and pitch to the Humongous Worldwide
Corporation how the parts are worth more than the whole because Wall
Street doesn't "understand them" because of the disparate businesses
under one roof, so they once again earn big commissions selling off all
of the businesses they induced the company to buy 5 years ago.
This is not funny--it is SOP. 30 years ago, when steel was big, they
diversified into things like oil..and got their head handed to them.
Utilities diversified into foreign investments in water and electrical
systems...and got their heads handed to them. Ask Times Warner how, in
an attempt to diversify into the internet, their purchase of AOL
went--highly recommended by Wall Street. Wall Street investment advice
is a perfect counter-indicator.
Chuck Jensen
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rvbuilder(at)sausen.net
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| Posted: Wed Feb 21, 2007 7:13 am Post subject: XM Sirius |
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Actually, AOL bought Time Warner when AOL's stock was some of the most
over valued out there. Now AOL itself is almost worthless and the TW
people have taken back over. A good case study of how diversification
can kill your core business is a utility out west (I forget which) that
had some of the cheapest power in the country. They decided that fiber
and communications was the promised land and began deploying fiber
everywhere. The end result was the CEO was lynched and they ended up
with some of the most expensive power in the country. Lesson is always
remember your core business and diversify carefully in measured steps.
Michael
Do not archive
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ceengland(at)bellsouth.ne
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| Posted: Wed Feb 21, 2007 6:28 pm Post subject: XM Sirius |
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RV Builder (Michael Sausen) wrote:
| Quote: |
Actually, AOL bought Time Warner when AOL's stock was some of the most
over valued out there. Now AOL itself is almost worthless and the TW
people have taken back over. A good case study of how diversification
can kill your core business is a utility out west (I forget which) that
had some of the cheapest power in the country. They decided that fiber
and communications was the promised land and began deploying fiber
everywhere. The end result was the CEO was lynched and they ended up
with some of the most expensive power in the country. Lesson is always
remember your core business and diversify carefully in measured steps.
Michael
Do not archive
Google Montana Power. I don't think it had much to do with
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diversification. Anyone who believes that a 'free market' is the
unconditional solution to all of society's ills would do well to study
that case carefully.
The reason that the CEO *should* have been lynched (he wasn't; he & the
'Wall Street' brokers were the only ones who came out smelling pretty)
is that he sold off the paid-for generation & distribution assets of a
company with a more or less exclusive but regulated right to sell power
in Montana. IIRC, energy costs to Montana businesses & residents went up
by something like a factor of 3, almost overnight.
How many non-airline pilots among us think that privatized air traffic
control is a good idea? (Now is the time to write your representatives
in DC.)
A free market only works when it's truly free. Energy? No. Health care?
No again. Various forms of 'mass transit' (airlines)? Again, no.
Plumbers? Electricians? No and no. The law? No, with profanity withheld.
Any time government limits access by suppliers of a product or service,
any time there is less than a truly diverse & unconnected supply, there
is no free market. If we allow some level of protection through
government regulation, we should also expect some level of price
protection when the supply is limited by those regulations.
OK, rant mode off...
Charlie
I didn't stay in a Holiday Inn last night, but I did manage to get an
undergraduate degree in Economics a few decades ago.
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sportav8r(at)gmail.com
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| Posted: Wed Feb 21, 2007 7:04 pm Post subject: XM Sirius |
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I didn't stay in a Holiday Inn last night, but I did manage to get an
| Quote: | undergraduate degree in Economics a few decades ago.
Then you'd be just the man to explain how the government interferes
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with the free market for electricians and plumbers in a way that
compares at all with medicine and utilities. Are you referring to
Hillary's focus group that's plotting to socialize plumbing and
require all employers to purchase single-payor septic tank insurance
for their employees? Yeah, I knew that was it.
Gotta run; Ira Magaziner 's on the other line... wants to know how to
prevent Tax-free House Wiring Savings Accounts from getting through
congress 
-Stormy
{I'm really _not_ following you here, Charlie.
| Quote: | >Plumbers? Electricians? No and no. The law? No, with profanity withheld.<<
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..but it's not the first time.}
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ceengland(at)bellsouth.ne
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| Posted: Wed Feb 21, 2007 8:03 pm Post subject: XM Sirius |
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Bill Boyd wrote:
| Quote: |
I didn't stay in a Holiday Inn last night, but I did manage to get an
> undergraduate degree in Economics a few decades ago.
>
Then you'd be just the man to explain how the government interferes
with the free market for electricians and plumbers in a way that
compares at all with medicine and utilities. Are you referring to
Hillary's focus group that's plotting to socialize plumbing and
require all employers to purchase single-payor septic tank insurance
for their employees? Yeah, I knew that was it.
Gotta run; Ira Magaziner 's on the other line... wants to know how to
prevent Tax-free House Wiring Savings Accounts from getting through
congress
-Stormy
{I'm really _not_ following you here, Charlie.
>> Plumbers? Electricians? No and no. The law? No, with profanity
>> withheld.<<
...but it's not the first time.}
Just about every form of certification & licensing quickly evolves from
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'protecting the public' to protecting the current practitioners from
competition.
I'm certainly not endorsing Socialism but I'm no fan of government
supported oligopoly either.
Charlie
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sportav8r(at)gmail.com
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| Posted: Thu Feb 22, 2007 11:51 am Post subject: XM Sirius |
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Point taken. You should see the obstacles my wife faces in her quest
to do counseling without a license from the state.
Your position doesn't sound like socialism, but libertarianism and
anarchy came to mind
The public protection side of licensing and regulagtion is laudable;
the closed shop end-result is _sometimes_ wrong, sometimes not; it's
never wrong, IMO, to forbid non-certificated bird-men from flying the
public around in airliners, or the sale of home-neurosurgery kits. I
guess I'm just comfortable with some oligopolies.
I'm all for the repeal of the NFA of 1934 so John Q. Public can own
machine guns if he wants, but not if he's a felon or adjudged mentally
incompetent. Can those restrictions be unfairly applied sometimes?
Yes, but it's an imperfect world. Variable mileage happens
-Stormy
oh, and do not archive - not even remotely rv related; I'm done.
On 2/21/07, Charlie England <ceengland(at)bellsouth.net> wrote:
| Quote: |
Bill Boyd wrote:
>
>
> I didn't stay in a Holiday Inn last night, but I did manage to get an
>> undergraduate degree in Economics a few decades ago.
>>
> Then you'd be just the man to explain how the government interferes
> with the free market for electricians and plumbers in a way that
> compares at all with medicine and utilities. Are you referring to
> Hillary's focus group that's plotting to socialize plumbing and
> require all employers to purchase single-payor septic tank insurance
> for their employees? Yeah, I knew that was it.
>
> Gotta run; Ira Magaziner 's on the other line... wants to know how to
> prevent Tax-free House Wiring Savings Accounts from getting through
> congress
>
> -Stormy
>
> {I'm really _not_ following you here, Charlie.
>
>>> Plumbers? Electricians? No and no. The law? No, with profanity
>>> withheld.<<
>
> ...but it's not the first time.}
Just about every form of certification & licensing quickly evolves from
'protecting the public' to protecting the current practitioners from
competition.
I'm certainly not endorsing Socialism but I'm no fan of government
supported oligopoly either.
Charlie
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