[opendtv] Re: Euro Cars
- From: "John Willkie" <johnwillkie@xxxxxxxxxxxxx>
- To: <opendtv@xxxxxxxxxxxxx>
- Date: Sat, 13 Dec 2008 11:18:43 -0800
Agreed, and they were counting on new car sales to drive the required -- for
loan covenants -- increase in sales.
They used 2006 real-estate financing techniques in a deal that closed in
2008. Bad timing, that.
John Willkie
-----Mensaje original-----
De: opendtv-bounce@xxxxxxxxxxxxx [mailto:opendtv-bounce@xxxxxxxxxxxxx] En
nombre de Craig Birkmaier
Enviado el: Saturday, December 13, 2008 4:22 AM
Para: opendtv@xxxxxxxxxxxxx
Asunto: [opendtv] Re: Euro Cars
At 2:32 PM -0800 12/12/08, John Willkie wrote:
>Gee, I thought this was a list about digital media, not automobiles.
>
>Have any fools hereabouts thought about how the decline in new GM car sales
>will affect the uptake of XM Sirius, against the aggressive financing and
>short-term debt obligations of the merged entity? While forcing all Sirius
>users to adopt new radios?
>
>None of the "usual suspects" seems to have pondered these. I've been
>thinking about it for several weeks.
Technology and migration issues aside, the merged companies are in
trouble and have huge debts that come due early next year. Given the
current economic problems and the slowdown in sales of new vehicles,
the future does not look too bright.
Regards
Craig
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