BURTBECK

What to Expect in Tuesday's Sirius XM Radio Conference

My bet is we will not see a balance sheet for merged company until 10-Q for 3Q08 is filed about first week November.
But I will be very critical of Mel if he does not provide a quarter-by-quarter P&L proforma guidance between now and then--all the way out to 12/31/09. Same for cash flow, gross and net sub additions, sub acquisition costs, rev per sub, etc. The number crunchers within the company are very remiss if they do not have this stuff, and they should share it with shareholders, particularly after a game-changing merger.

This management's pronouncements have been way too much hype and not enough hard numbers all along, and today's $1.26 pps reflects this. I listen to a lot of quarterly conference calls, and compared to 99 percent of them Mel is an embarrassment.