XM building looks bleak

[Tgajr]

Each morning my train passes the XM building in Washington. As of today, gone are all the proud hanging signs. Just a small XM sign on the side of the building is all that remains.

They didnt even replace the XM 9 millions subscirbers sign with a Sirius XM 19 million....

Maybe they will in the future. The building looks ready for the wrecking ball.

 

[roscoryan]

That's extremely sad...that building seemed so vibrant and cutting edge.

 

[Fergz99]

Mel would rather pay the enormous rent costs in chic Manhattan, then have to move to DC. When the company is a billion dollars in debt maybe its better to not be in NYC. Sirius' building is right in the heart of the city. Right in Rockefeller Center. You can wager what ever you want that it costs them more to be there then it would in DC.

 

[Davis]

it is probably easier to get guests if you are in NYC (even music channels have live guests/interviews). If that is the case, and the would keep a space in NYC, then it would make more sense to get rid of the DC location and move them to NYC.

 

[Fergz99]

it is probably easier to get guests if you are in NYC (even music channels have live guests/interviews). If that is the case, and the would keep a space in NYC, then it would make more sense to get rid of the DC location and move them to NYC.

XM has never had an issue with getting people to go to the studios in DC. It easier for Mel to hang out with all of his NYC CEO buddies and keep his high profile.

 

[IdRatherBeSkiing]

XM has never had an issue with getting people to go to the studios in DC. It easier for Mel to hang out with all of his NYC CEO buddies and keep his high profile.

And a good chunk of Sirius DJs do not work out of NY as well. Keeping as little space in NYC is the financially prudent thing to do. If this is TRULY about cost-cutting and efficiencies then the executroids should be moved to DC. Keep a studio in NYC. But give up most of your office space.

 

[TSS Taylor]

Mel would rather pay the enormous rent costs in chic Manhattan, then have to move to DC. When the company is a billion dollars in debt maybe its better to not be in NYC. Sirius' building is right in the heart of the city. Right in Rockefeller Center. You can wager what ever you want that it costs them more to be there then it would in DC.

Mel has said a few months back that he is very open to moving the HQ to a location outside of Midtown Manhattan. He was thinking of across the river in New Jersey. IMO, that's a great idea.

 

[Davis]

XM has never had an issue with getting people to go to the studios in DC. It easier for Mel to hang out with all of his NYC CEO buddies and keep his high profile.

OH, OK then. I just assumed it wouldn't be as easy because people come through NY to promote stuff.

 

[MikeV]

XM had studios in NYC... O&A broadcast from them, among others. Plus there's the studios and performance hall at Jazz at Lincoln Center. XM had facilities available to them in NYC if they couldn't get someone to come to DC. Plus, it's a quick train ride or shuttle flight between the two cities.

I still see no reason why they shouldn't be moving to DC and giving up their expensive leased space in NYC.

 

[Manco]

If you are going to move, you might as well not limit your choices between the two locations. Moving th NJ might be a good idea so long as they can get low enough rent to make it worthwhile.

The last time I remember hearing the cost of renting the Sirius Office, it was something like 36M/year.

 

[Music_Rube]

I always wanted to take a tour of that place, judging by the pics taken on previous tours by users on XM411 and/or XMFAN! I am a little disappointed I will likely not have another chance. Those studios look so darn cool! Heck the whole place looked so darn cool!

 

[secrecyguy]

I guess the place don't look that great anymore.

Somehow, I am not surprised.

Now since they are now one company, I will not be surprise if they decided to close down one of the locations or both locations and move to a new building.

 

[MNXMFan]

If you are going to move, you might as well not limit your choices between the two locations. Moving th NJ might be a good idea so long as they can get low enough rent to make it worthwhile.

The last time I remember hearing the cost of renting the Sirius Office, it was something like 36M/year.

That is insane. They could have gotten rid of the NY office, moved everyone to DC, and kept the old XM people plus hired 3x the personality staff for that much.

 

[HecticArt]

There's a side of the equation that makes sense to lease space. Taxes are different, leasing space is usually 100% deductible while owning is deferred over several years. Maintenance, utilities, flexibility for growth or downsizing. If the XM building can sell in this market, they can raise a bit of capital too.

 

[atlwxman]

XM building is still in a rather dicey neighborhood in DC, and the commercial revitalization that was expected to happen in that neighborhood has not come to pass. Plus the bulding is really not suitable to other office uses without considerable remodeling.

 

[GAMER]

The future of the whole company looks bleak as I really wonder how this company will survive in this economy with massive debt and a really bad economy.

 

[Benji]

Over the past few months every time I went into the office it was becoming a ghost town, well at least floor 3.