Everybody's a critic when it comes to start-ups. USA Today's Matt Krantz says he's bearish on SIRIUS, due to lackluster returns and the failure to turn a profit as of yet (You mean they're trying to make money?)

Krantz explains, "Satellite radio was a classic case. Shortly after the dot-com bust, investors looking for wild and exciting investment opportunities didn't lose any time investing in satellite radio. It seemed to have unlimited promise. And it didn't seem to matter that Sirius hadn't made a dime and analysts were torn on when, or if, profits would arrive."

Well true, but it takes time to build infrastructure and, the adoption rate of satellite radio is unparelleled in any other new broadcast medium so far in our history. I think Krantx is just a little ticked about Howard Stern making more money than should be legally allowed for someone who sits in front of a microphone, writing, "the biggest winner on the stock has been shock jock Howard Stern, who was paid $100 million a year plus given the opportunity to cash in $191 million in stock. You can read about Stern's mega payday here.

"[now] The stock is trading around $4.45 a share. That's a 13% decline since April 2005. Interestingly, too, investors haven't cashed in on Stern, either. The stock is down 35% since he started on the air. Meanwhile, the company still loses money, making it impossible to value the stock using any standard method."

I'm pretty sure that the momentum is in SIRIUS' favor. Mel Karmazin is a strong leader, and barring anything unforseen (like FCC regulation of content, or a few satellites crashing and burning) SIRIUS has a bright future.

[via USA Today]