Sirius XM Is in a Serious Bind

Sirius XM Chief Executive Mel Karmazin says broadcast radio sucks. But when it comes to the bottom line, satellite radio isn't much better of an investment. Sirius expects to add 2 million subscribers next year, 10% fewer than analysts were expecting, and a decline from the projected 2.1 million new users this year. One cause is slower sales of autos, a big generator of new satellite-radio subscriptions. Some analysts say subscriber growth prospects aren't likely to get much brighter.