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Technology Stocks : XM Satellite Radio Holdings Inc. (XMSR) -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (516)	3/29/2003 12:22:41 AM
From: pcstel	Read Replies (1) \| Respond to of 3386

I wouldn't disagree with your statement IF today's operations were representative of future expectations. Clearly, this is not the case Well, hopefully things turn out according to the "The Plan". From my experience, I will tell you that I would not expect your CPGA to come falling down to the degree in both price and time that you may expect. It's a fine line to walk. You grow subscribers too fast. You burn all your cash on subsidies and other CPGA costs. You grow too slow. You never make it to Break-even. These business concepts were devised and funded at a point in time in which capital was "free flowing", and venture capitalist would fund a business plan drafted in crayolas on the back of a Burger King bag. I think you will find the analysts understand these problems, and are not impressed with the latest reportable quarters results. The downgrades have already begun. This is the classic definition of a "cash cow" - Depends if you are Short or Long! IMO, It's a Zero! Best Regards, PCSTEL