Satellite radio loses five billion bucks
Sirius XM Radio's third quarter results are in: a stupefying $4.88 billion loss. The biggest chunk of that is an impairment charge due to a drop in stock price. Slow auto sales have reduced the number of new customers. This is worse news for me than AAPL taking a dive — I'm not a shareholder, but XM Highway 16 is one of Valleywag's raw ingredients. If satellite radio dies, it'll be like those dark years when the government barred Detroit from building convertibles.