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Mel's Compensation

FRR said:
According to Fortune Mel made 43.5 million bucks in 2009. Good God!
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The combined service is actually showing operating profits (not just EBITDA profits, but real ones!). Of course, most of that is due not to increasing the sub base or making the service more attractive but to debt restructuring. Still, he deserves credit for that... if for nothing else. $43.5M for engineering a half-billion-dollar turnaround in just a couple of years is absolutely fair compensation. But, and I can't stress this enough, only on the basis of his shrewd balance-sheet sleight-of-hand; content-wise, he's strangling the service.
 
ykw said:
FRR said:
According to Fortune Mel made 43.5 million bucks in 2009. Good God!
Click to expand...

The combined service is actually showing operating profits (not just EBITDA profits, but real ones!). Of course, most of that is due not to increasing the sub base or making the service more attractive but to debt restructuring. Still, he deserves credit for that... if for nothing else. $43.5M for engineering a half-billion-dollar turnaround in just a couple of years is absolutely fair compensation. But, and I can't stress this enough, only on the basis of his shrewd balance-sheet sleight-of-hand; content-wise, he's strangling the service.
Click to expand...

Content doesn't mean squat to most of the shareholders, especially the large institutional ones who only care about the numbers and their predicted path, not what the corporation produces. If Mel's underlings were really "strangling" the service with their content decisions, the service would be losing subscribers and churn would be through the roof. Instead, the service is gaining subscribers and churn is quite acceptable. Sheeple rule in this country; deal with it.
 
It is my opinion that Mel would sell his own mother to make $20.00 and keep Stern.

If Mel cared about content at all, he would rehire Lee Abrams to run the music end of the business and give him Carte Blanc to do whatever he wants - but Mel would rather keep $300,000 and have the churn level continue at what I think are totally unacceptable churn rates. If you're doing your job right, there would be no churn at all except for those poor folks who lost their jobs - even then, being unemployed, you should have content so complelling that your customer would give up 3 packs of smokes to keep satellite radio for another month!

What I consider Mel's lies to the FCC torque me off too - the 6 FREE lease channels are not going to be free now, the NO increase in rates bull (but you can take away our included online), the retroactive royalty fees that they are still collecting (and we're probably already in excess of the back cost of those), the price increase for extra family radios, the continuing reduction in audio quality while spectrum is wasted on "Sirius Backseat" video, and even the GD "free" XM247 / Siri184 Weather Channel is GONE! WTF. Can nobody at Siri/XM call him on the carpet for continuing to reduce the quality and content of his services? He's done a horrible job of promoting it at retail: even WallyMart carries only ONE XM and ONE Sirius radio. Let me run the show Melvin.
 
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