Ran across this interesting article on Yahoo Finance – The 15 Companies that Might Not Survive 2009.
So, who do they think will hit the chopping block in the next 10 months? The list includes companies like troubled automaker Chrysler as well as Trump Entertainment Resorts (TRMP) and Six Flags (SIX). One company that I sincerely hope won’t go bust is Sirius Satellite Radio (SIRI). Says the article:
The music rocks, but satellite radio has yet to be profitable, and huge contracts for performers like Howard Stern are looking unsustainable. Sirius is one of two satellite-radio services owned by parent company Sirius XM, which was formed when Sirius and XM merged last year. So far, the merger hasn’t generated the savings needed to make the company profitable, and Moody’s thinks there’s a “high likelihood” that Sirius will fail to repay or refinance its debt in 2009. One outcome could be a takeover, at distressed prices, by other firms active in the satellite business.
The music certainly does rock, and I’m not about to give it up just yet. Are there any other companies you think won’t make it through 2009? Light up the comments…