The Best of: Sirius Has Made a Deal with the Devil…
January 10, 2007 by Douglas A. McIntyreFrom 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.
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