Does Mel deserve a 250,000 per year raise?
- Thread starter sportboy
- Start date
I would say yes just based on the business side. He got the companies merged and cut costs like he said he would. Sirius now has a lot more income with the rate increases and the new royalty fees. I know the stock price is in the toilet,but he still did what he said he would do.
Now being a subscriber and not a huge fan of Mel I think he lied to us and did everything in his power to use loopholes to raise rates. Thats just my opinion and there are various threads with my comments on that. No matter what he still helped Sirius and XM survive.
Now being a subscriber and not a huge fan of Mel I think he lied to us and did everything in his power to use loopholes to raise rates. Thats just my opinion and there are various threads with my comments on that. No matter what he still helped Sirius and XM survive.
I think this is something that seems standard in Publicly Traded Companies. I don't quite understand it, but I don't understand wanting to be in a Public Company either.
It's too bad that his contract didn't have a profitability clause.
I'd have a hard time signing someone for that kind of coin without relating their compensation to performance.
But I doubt we'll ever get to see what kind of benchmarking (if any) he's committed to.
I'd have a hard time signing someone for that kind of coin without relating their compensation to performance.
But I doubt we'll ever get to see what kind of benchmarking (if any) he's committed to.
Let's see. Since coming aboard, Mel lied to the FCC regarding his precious merger. Finally passing, the merger made Sirius XM a monopoly.....a failing monopoly, that is.
Mel also went back on his promise of no price increases (at last count, two times - so far).
As a result of his dishonesty, subscribers are canceling and stock price continues to remain in the toilet. Once the company's debt becomes due, what will they do? Borrow again? LOL
If he had any integrity, Mel would defer his raise to the people who beieve in him and his bankrupt company - the stockholders. He should divide his 250K up, and send shareholders some of their money back. Hell, it's their money funding his raise in the first place, if you think about it.
Of course he will not do anything of the sort. Most of the stockholders' 250K will most likely go to Mel's dentist - those picket fence-like choppers are quite dfficult to maintain, you know.
Years from now, Sirius will be looked at by business students as the poster child of how to run a monopolistic business into the ground in record time. Mel and Howard Stern will be dubbed as the greedy, beady-eyed liars that killed this company.
Mel also went back on his promise of no price increases (at last count, two times - so far).
As a result of his dishonesty, subscribers are canceling and stock price continues to remain in the toilet. Once the company's debt becomes due, what will they do? Borrow again? LOL
If he had any integrity, Mel would defer his raise to the people who beieve in him and his bankrupt company - the stockholders. He should divide his 250K up, and send shareholders some of their money back. Hell, it's their money funding his raise in the first place, if you think about it.
Of course he will not do anything of the sort. Most of the stockholders' 250K will most likely go to Mel's dentist - those picket fence-like choppers are quite dfficult to maintain, you know.
Years from now, Sirius will be looked at by business students as the poster child of how to run a monopolistic business into the ground in record time. Mel and Howard Stern will be dubbed as the greedy, beady-eyed liars that killed this company.
You know you try to say well this company needs to make all the money it can to survive and then they give Mel a raise? No sir, he does NOT deserve it and if he had any class at all he'd refuse it. But he'll take it!
Now this makes me want to cancel my service because of all these recent fee increases and they turn around and give this moron a raise! I going to have to think about this one, but I will not defend their fee increases from this point on.
Now this makes me want to cancel my service because of all these recent fee increases and they turn around and give this moron a raise! I going to have to think about this one, but I will not defend their fee increases from this point on.
He deserves a raise:
*He brought in millions of subscribers thanks to Howard.
*I see more and more businesses that have Sirius or XM instead of local radio.
*Honestly, Sirius/XM's product is still eons better than regular radio.
*If Sirius/XM is hurting, it's because of the FCC. Remember, it took the two longer to merge than any oil company in history.
However, the biggest obstacle he has, IMO is convincing Howard to re-sign when his contract's up in two years.
$250,000 sounds just about right to me.
*He brought in millions of subscribers thanks to Howard.
*I see more and more businesses that have Sirius or XM instead of local radio.
*Honestly, Sirius/XM's product is still eons better than regular radio.
*If Sirius/XM is hurting, it's because of the FCC. Remember, it took the two longer to merge than any oil company in history.
However, the biggest obstacle he has, IMO is convincing Howard to re-sign when his contract's up in two years.
$250,000 sounds just about right to me.
Burn the witches!
[ame=http://www.youtube.com/watch?v=zrzMhU_4m-g]YouTube - She's a witch![/ame]
[ame=http://www.youtube.com/watch?v=zrzMhU_4m-g]YouTube - She's a witch![/ame]
I personally wouldn't trust Mel Karmazin to run a doughnut shop much less a major SDARS. He wasn't responsible for me leaving XM well before the merger, but his type of FM-like programming philosophy was. The chasm between stockholders and listeners gets that much wider, the stockholders seem to like the cost-cutting (despite the fact that the stock is still in the shitter), and the listeners don't like the FM-Mentality and are leaving in droves. And the company still isn't profitable.
But I'd still go to Krispy Kreme even if Mel was running it.
Doughnuts is tasty. . . .
They might be out of business next.
