Director at XM Resigns as Possible Crisis Looms
February 17, 2006 11:00 AM
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Pierce Roberts Jr - Courtesy AP
Soaring marketing costs are one of the reasons that a director at XM Satellite Radio has decided to resign from the company
Pierce Roberts Jr., the director for XM Satellite Radio has recently stepped down citing constant disagreements with the other board members on issues critical to the company. Roberts also gave a warning that says XM may be facing a crisis in the future if the company cannot properly cut spending, as the company's fourth-quarter loss was greater than initially reported. Analysts have revealed the fourth-quarter loss now stands at a whopping $268.3 million. Higher costs have been due to marketing and the dire need to continually recruit new listeners.
XM is currently the largest U.S. pay-radio service, but has an unclear future in which Sirius Satellite Radio is making XM nervous. The stock now sits at $23.98, and has dropped 29 percent in the past year.
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RE: Good Truckers and Travelling Salesmen
2/19/2006 6:03:10 PM
Glad you finished with "for me...it doesn't make sense." For me, it makes huge amounts of sense. I only drive 15,000 miles per year, but the 60 minutes or so I spend in my car are certainly with not having to constantly change channels to avoid the commericals, which is almost useless when one company (Clear Channel) owns virtually every station and syncs up the commercial breaks.
Sound quality is also quite good...the online radio player isn't at good, but that is another great feature (speaking about Sirius, but I believe XM has it as well).
If I move somewhere where I decide to take the train to work, then it won't make nearly as much sense for me either.
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