S&P 500
7,505.80
-0.03%
Dow Jones
52,245.40
+0.01%
Nasdaq 100
29,059.20
-0.24%
Russell 2000
2,980.87
-0.04%
FTSE 100
10,609.00
+0.05%
Nikkei 225
67,226.20
+0.06%

Media

The Best of: Sirius Has Made a Deal with the Devil…

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

From Contrarian Edge

In light of Howard Stern making the headlines with his $83 million bonus, I thought I’ll share this article with you that I wrote awhile back.

I thought I had seen the epitome of stupid management decisions during the dot-com bubble when ludicrous sums of money were thrown at pie-in-the-sky ideas under the guise of “strategic investments.” But Sirius’ (SIRI) management has proven me wrong. The firm has agreed to pay $500 million (real, not Happy Meal) dollars to Howard Stern for five years of his invaluable services. Assuming Stern works 500 hours a year, this amounts to $3,333 a minute for Stern’s uncompromising pursuit of radio excellence. Surely this is a bargain for someone who has spent years honing his interview skills with women in various stages of undress.

http://www.contrarianedge.com/

Contact [email protected] for any questions or corrections.

DISCLOSURE:
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.sipc.org). Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org). There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options  Investing in an Initial Public Offering (IPO) involves substantial risk, including the risk of loss. Further, there are a variety of risk factors to consider when investing in an IPO, including but not limited to, unproven management, significant debt, and lack of operating history. For a comprehensive discussion of these risks please refer to SoFi Securities’ IPO Risk Disclosure Statement This should not be considered a recommendation to participate in IPOs and investors should carefully read the offering prospectus to determine whether an offering is consistent with their investment objectives, risk tolerance, and financial situation. New offerings generally have high demand and there are a limited number of shares available for distribution to participants. Many customers may not be allocated shares and share allocations may be significantly smaller than the shares requested in the customer’s initial offer (Indication of Interest). For more information on the allocation process please visit IPO Allocation.
Follow 24/7 Wall St. on Google
Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

This 15-Minute Task Is All You Need to Know What Social Security Benefit to Expect
Maurie Backman |

This 15-Minute Task Is All You Need to Know What Social Security Benefit to Expect
The 401(k) Vesting Cliff That Cost One Worker $74,000 Before Age 60
Marc Guberti |

The 401(k) Vesting Cliff That Cost One Worker $74,000 Before Age 60

Continue Reading

Douglas A. McIntyre |

SIRIUS XM Escaping Penny Stock Status (SIRI)

It is not going to be enough to bring back some mega-losses for many multi-year investors, at least not yet,…

Jon C. Ogg |

Howard Stern & SIRIUS Contract Countdown Heats Up (SIRI, AAPL)

The speculation of what will become of Howard Stern’s contract with SIRIUS XM Radio Inc. (NASDAQ: SIRI) is heating up. …

Jon C. Ogg |

SIRIUS XM, Howard Stern Contract Countdown (SIRI)

SIRIUS XM Radio Inc. (NASDAQ: SIRI) may have had a stellar rise over the last year after the satellite radio…

Jon C. Ogg |

With ‘America’s Got Talent’ Judge Gig, Is Stern A SIRIUS XM Flight Risk Again? (SIRI)

Sirius XMSIRIUS XM Radio Inc. (NASDAQ: SIRI) may not be as big of a fan of America’s Got Talent as…

Why It Was Critical for Sirius XM to Hold Onto Howard Stern
Paul Ausick |

Why It Was Critical for Sirius XM to Hold Onto Howard Stern

Tuesday morning, SiriusXM announced that Howard Stern had signed an agreement to continue the satellite radio show for another five…

Douglas A. McIntyre |

Just How Much is Howard Stern Really Worth to Serius?

The answer: More than you could guess.  SIRIUS Satellite Radio (SIRI) has announced that it exceeded pre-Howard Stern subscriber estimates…

Douglas A. McIntyre |

Howard Stern’s $83 million Bonus

From Contrarian Edge By Vitaliy Katsenelson I have tremendous respect for The Financial Times.  It is a great newspaper and…

Jon C. Ogg |

Howard Stern Sticks With SIRIUS XM (SIRI, AAPL)

We have been following the contract negotiation saga between Howard Stern and SIRIUS XM Radio Inc. (NASDAQ: SIRI) quite closely…

Douglas A. McIntyre |

SIRIUS Financial Take: Howard Stern/Pandora Risks (SIRI, AAPL)

SIRIUS XM Radio (NASDAQ: SIRI) has been a key trading focus of late, mostly with positive metrics.  The company has…

Top Gaining Stocks

Western Digital
WDC • Vol: 7,449,136
Micron Technology
MU • Vol: 49,366,087
Teradyne
TER • Vol: 4,004,938
Seagate Technology
STX • Vol: 6,062,855
Coinbase
COIN • Vol: 13,677,147

Top Losing Stocks

Danaher
DHR • Vol: 28,098,194
MSCI
MSCI • Vol: 2,010,247
Coterra Energy
CTRA • Vol: 73,319,495
Tyler Technologies
TYL • Vol: 671,631
Halliburton
HAL • Vol: 34,081,300