7 posts and columns on auto industry

Departing Sun Co-Founder to Employees: “Kick Butt and Have Fun!”

in News on January 26, 2010 at 3:10 pm PT

With European Commission approval of its $7.4 billion buyout by Oracle in hand, Sun’s leadership is saying its goodbyes. Last week, we heard from Sun CEO Jonathan Schwartz, who–as I reported yesterday–will soon resign his position. Today, it’s Sun co-founder Scott McNealy who is bidding farewell. Sources close to the company tell me that he too will leave Sun following the close of Oracle’s $7.4 billion buyout. His all-hands memo to employees after the jump.

Sirius Breaks Even

in News on November 5, 2009 at 5:12 am PT

Sirius XM Radio’s financial position is improving. Sadly, the same cannot be said for its subscribership. Reporting earnings this morning, the company broke even in its third quarter. Good news, but it was tempered with a bit of bad. Because Sirius’s subscriber growth is slowing.
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New Threat To The Valley: Toyota Might Close NUMMI

in News on July 13, 2009 at 7:44 am PT

The carnage in the auto industry may be about to hit Silicon Valley. Toyota is considering close NUMMI, a Fremont, California vehicle-assembly plant that it has been operating jointly with General Motors.

Sirius iPhone App: No Stern? No NFL? No MLB? No Way. [UPDATED]

in News on June 18, 2009 at 5:00 am PT

The too-long-in-coming Sirius XM app for the iPhone and iPod touch showed up in the App Store today and sadly, it’s more noteworthy for what’s missing than anything else. Absent from it are a number of the broadcaster’s more popular channels, among them Howard Stern’s, which Sirius often claims are responsible for driving more subscriptions than any other. Also missing: MLB Play-by-Play, NFL Play-by-Play and Sirius NASCAR Radio.
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Sirius Subscriber Losses Getting Serious

in News on May 7, 2009 at 7:24 am PT

Good thing Sirius XM Radio resolved the debt issues that threatened to drag it into bankruptcy earlier this year; the company’s clearly got other things to worry about. Like fleeing subscribers. Reporting a first-quarter net loss of $236.6 million this morning, Sirius said that anemic car sales had led to its first-ever decline in net subscriber additions. And it was a nasty decline.
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Approve a Massive Stock Dilution? Surely, You Can't Be Serious…I Am Sirius, and Stop Calling Me Shirley.

in News on December 19, 2008 at 9:04 am PT

At Sirius XM’s annual meeting Thursday, shareholders approved a reverse stock split plan that empowers the board to split common Sirius shares by a 1-for-10 to 1-for-50 ratio by end of 2009. They also approved the issuance of up to 3.5 billion new shares. Should Sirius need to, it can now effect a reverse split that will raise its stock price above the $1 necessary to avoid delisting and sell new shares to meet the almost $1 billion in loan repayments it faces next year.

Approve a Massive Stock Dilution? Surely, You Can’t Be Serious…I Am Sirius, and Stop Calling Me Shirley.

in News on December 19, 2008 at 9:04 am PT

At Sirius XM’s annual meeting Thursday, shareholders approved a reverse stock split plan that empowers the board to split common Sirius shares by a 1-for-10 to 1-for-50 ratio by end of 2009. They also approved the issuance of up to 3.5 billion new shares. Should Sirius need to, it can now effect a reverse split that will raise its stock price above the $1 necessary to avoid delisting and sell new shares to meet the almost $1 billion in loan repayments it faces next year.