Sirius XM Holdings Inc (SIRI)

[bepop12345]

Jim Cramer's from 2009 - TheStreet.com.

Worst Run Companies of 2009
10/21/09

Sirius XM Radio(SIRI Quote): That this company hasn't made my list in the past is a major oversight on my part. Sirius XM -- the merger of two poorly managed and capitalized companies, Sirius and XM -- is a classic case of a great product (satellite radio) coupled with a bad business model. The company is burdened with more than $3 billion in long-term debt and $4.5 billion of intangibles and goodwill. The strategy of giving large deals to big-name stars such as Howard Stern and Chris "Mad Dog" Russo doesn't really seem to have paid off. Management relied heavily on the automobile industry to spur sales, and we know how successful that has been. Perhaps government-sponsored cash for transistor radio program could help Sirius survive. Its date with destiny will be in bankruptcy court.