A Siriusly Unattractive Investment By Linda McDonough About this article: Chartists and bulls are crowing that the tide has turned for Sirius XM . And while they may be correct that the tide has shifted enough so that a tsunami will not drown investors in the short term, there is a large and heavy rock tied to the ankles of shareholders. This rock is an unsustainable business model. SIRI has invested over $10.2 billion in infrastructure for satellite radio. This amount includes equipment, FCC licenses, provider programming contracts (think Howard Stern), software development and various marketing programs. Unfortunately, technology is changing so rapidly that the value of those assets acquired is in question. The rampant popularity of podcasts has tipped the value proposition away from satellite radio. SIRI had the wind at its back during the third quarter. Cash for Clunkers instigated a frenzy of new car purchases. The government estimates that the program generated an... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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