Jun 17 2008
Cramer Is In Too Deep On XM and Sirius
Picture this: a self professed mad man about money goes on a one year and 119 day rampage of cable proportion to sell a Sirius satellite radio merger with XM radio. A sad picture indeed. What was his reason for this insane love affair? So he can listen to his Major League Baseball. Oh No! Please Don’t Take Away Cramer’s chance to pay for what was free Major League Baseball on the Radio.
Jim Cramer, a Goldman Sachs alum, swears he’s the every man’s man on stocks. Every man until Democrats blocks his dream of a satellite radio monopoly that is. Then it’s the Demachat who is irredeemable.
If a commissioner thinks satellite and ipods are in the same ballpark, then he has horse sense. Does Cramer mean Big Brown kinda horse sense?
Now how about Commissioner Tate? "Tate is a Republican, I know she wants to do the right thing. We’re counting on her to make it happen." By making it happen Cramer means having the two company NOT compete against each other will bring Major League Baseball, Football, golf, and Cramer fave NASCAR under one roof; paying less per program and getting more from the auto companies for each satellite radio. Umm..Yeah that does not sound like a monopoly at all. Wait. Cramer adds: "I googled ‘Money’ and Mel Karmazin’s picture came up. Mel Is Our Guy - I Think He’s Money." Yup. That confirms it. No monopoly at t’all.
But satellite radio is a business, right? Well, it is if the two companies are not competing against each other. You see, Cramer explains that eventually both companies will run out of money. Being separate will make it hard for them to borrow more. That’s right kids. If a company cannot survive unless it does not have to deal with a competitor is the definition of a business.
Of all the years (3, I think) of watching Cramer, this facetious issue of XM and Sirius has got to be the dumbest waste of energy on the show. Every other week, viewers have to sit through this crap. He even has a calendar to show how much viewers have suffered watching the tirade. Unless someone has some hands deep in this deal (bonds, you did not just read that), I cannot see why this is the greatest atrocity in the modern world.




He’s a mad man after all…