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

To: i-node who wrote (2265)	2/21/2006 6:31:37 PM
From: pcstel	Read Replies (2) \| Respond to of 3386

Exactly, which is meaningless, since those CPGA figures are not representative of current numbers. ????? Why would I base a comparison on a car that was leased SEVERAL YEARS AGO, to the CPGA that was reported LAST QUARTER??? LOL!! Your personal attachment to this stock clouded your logic... Now, in Q4'05, XM's CPGA moved back up into the $110+ area, but they clearly stated that it has already dropped back to previous levels and that the Q4 numbers were aberrations due to the one-quarter "Stern Effect". Xm's management has been very consistent in delivering good numbers for CPGA. Well, you have that one correct.. XM's management has been consistent in DELIVERING GOOD NUMBERS. Now wheather those numbers really have any bearing on the actual costs involved is another issue. If you remember, a couple of years ago we had this same discussion. The 10K states.. "We consider CPGA to include the amounts in SAC, as well as advertising, media and other discretionary marketing expenses. In our financial statements, SAC costs are captured in Subsidies & Distribution and the negative margins from equipment sales, while CPGA costs are primarily captured by the combination of Subsidies & Distribution, Advertising & Marketing, plus the negative margins from equipment sales. CPGA does not include marketing staff (included in Retention & Support) or the amortization of the GM guaranteed payments (included in Amortization of GM Liability). " So we are no going to include the costs of the MARKETING STAFF or the amortization of the GM guarantee.... But, somehow, you seem "mystified" that SIRI's CPGA is so much HIGHER than XM's? It is a fact that XM entered into a long term contract with MLB, which was necessary to maintain the upper hand with respect to sports content. Yes, it delayed CFBE -- but it was a great content acquisition and it was forced by the wild spending of an incompetent competitor. ??? The MLB contract delayed UFCF by 2 YEARS?? First it's baseball then it's the Oprah Channel. Just like I told you.. Nothing but a popsicle stand. You can buy more and more popsicle's, but in the end, they end up melted all over the table. So far.. the popsicle effect has been in full steam ahead mode. And so it goes, PCSTEL