CASPER
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The Sky is Falling
by Michael Hopkins
Should the government bail out big companies in big trouble?
After all, it's the taxpayer footing the bill. In simple terms, these corporate executives made real bad decisions that cost their company - and now the American consumer - billions of dollars.
But that's enough grandstanding on the issue. The tough week on Wall Street also was pivotal for the satellite industry.
For starters, Sirius shares took another dip this week, and remained below the $1 threshold that NASDAQ watches closely in terms of its listing requirements. The stock freefall came after CEO Mel Karmazin provided lackluster guidance that sent shivers throughout the financial community.
Is the satellite radio giant heading for a delisting of its shares? What impact would that have on the company and any attempts to refinance debt, which according to some press reports totals about $1 billion?
On the video side, folks are wondering what's next for DIRECTV. Liberty Media is cooking up big plans for its controlling stake in the DBS service, which is poised to become the crown jewel of the developing Liberty Entertainment spin-off. This week, Liberty CEO Greg Maffei said the two companies continue to work on future prospects that include new content opportunities and an eye towards international markets.
Also, Hurricane Ike came ashore last weekend, and satellite sprung into action. Both DISH and DIRECTV have crews on the Gulf Coast restoring DBS service. The companies are supplying TV at relief shelters and delivering critical information through nationally delivered channels.
For sure, a few dishes were blown off rooftops. And DBS is impacted by the same lengthy power outages associated with big storms. But given cable's dire situation in hurricane-impacted areas (lines were cut by flying debris, destroyed by fallen trees or inflicted with water damage), the simple DBS set-up at the home has proven itself to be the fastest - and most cost-effective way - to get TV to the masses … at least in hurricane country.
by Michael Hopkins
Should the government bail out big companies in big trouble?
After all, it's the taxpayer footing the bill. In simple terms, these corporate executives made real bad decisions that cost their company - and now the American consumer - billions of dollars.
But that's enough grandstanding on the issue. The tough week on Wall Street also was pivotal for the satellite industry.
For starters, Sirius shares took another dip this week, and remained below the $1 threshold that NASDAQ watches closely in terms of its listing requirements. The stock freefall came after CEO Mel Karmazin provided lackluster guidance that sent shivers throughout the financial community.
Is the satellite radio giant heading for a delisting of its shares? What impact would that have on the company and any attempts to refinance debt, which according to some press reports totals about $1 billion?
On the video side, folks are wondering what's next for DIRECTV. Liberty Media is cooking up big plans for its controlling stake in the DBS service, which is poised to become the crown jewel of the developing Liberty Entertainment spin-off. This week, Liberty CEO Greg Maffei said the two companies continue to work on future prospects that include new content opportunities and an eye towards international markets.
Also, Hurricane Ike came ashore last weekend, and satellite sprung into action. Both DISH and DIRECTV have crews on the Gulf Coast restoring DBS service. The companies are supplying TV at relief shelters and delivering critical information through nationally delivered channels.
For sure, a few dishes were blown off rooftops. And DBS is impacted by the same lengthy power outages associated with big storms. But given cable's dire situation in hurricane-impacted areas (lines were cut by flying debris, destroyed by fallen trees or inflicted with water damage), the simple DBS set-up at the home has proven itself to be the fastest - and most cost-effective way - to get TV to the masses … at least in hurricane country.
