15 Companies That Might Not Survive 2009 [Archive]

BlackSpider

02-10-2009, 02:06 AM

Looks like I'll hold off on getting a lifetime subscription...

http://finance.yahoo.com/news/15-Companies-That-Might-Not-usnews-14279875.html

Sirius Satellite Radio. (SIRI - parent company; about 1,000 employees; stock down 96%). The music rocks, but satellite radio has yet to be profitable, and huge contracts for performers like Howard Stern are looking unsustainable. Sirius is one of two satellite-radio services owned by parent company Sirius XM, which was formed when Sirius and XM merged last year. So far, the merger hasn't generated the savings needed to make the company profitable, and Moody's thinks there's a "high likelihood" that Sirius will fail to repay or refinance its debt in 2009. One outcome could be a takeover, at distressed prices, by other firms active in the satellite business.

Bob Impact

02-10-2009, 02:11 AM

Looks like I'll hold off on getting a lifetime subscription...

http://finance.yahoo.com/news/15-Companies-That-Might-Not-usnews-14279875.html

Sirius Satellite Radio. (SIRI - parent company; about 1,000 employees; stock down 96%). The music rocks, but satellite radio has yet to be profitable, and huge contracts for performers like Howard Stern are looking unsustainable. Sirius is one of two satellite-radio services owned by parent company Sirius XM, which was formed when Sirius and XM merged last year. So far, the merger hasn't generated the savings needed to make the company profitable, and Moody's thinks there's a "high likelihood" that Sirius will fail to repay or refinance its debt in 2009. One outcome could be a takeover, at distressed prices, by other firms active in the satellite business.

Every risk indicator in existence is through the roof for Siri/XM right now. This is what happens when you go deeper into debt then you can realistically pay off.

Dan 'Hampton

02-10-2009, 02:26 AM

Called yesterday to downgrade to online only. Offered me a month free. I can't see it lasting through the summer this way.

biggestmexi

02-10-2009, 03:10 AM

Sirius is one of two satellite-radio services owned by parent company Sirius XM, which was formed when Sirius and XM merged last year.

say wwhhhaaaaaaattttt?

sailor

02-10-2009, 03:15 AM

just great that this isn't even the first publication (http://ronfez.net/forums/showthread.php?t=75662) to put out a death list like this.