Sirius CEO: 'We Suck Less' Than XM

Though some may find it hard to believe, Sirius CEO Mel Karmazin told investors at the annual meeting of shareholders in New York Thursday that while he is very unhappy over the poor performance of the company's stock price, as a whole Sirius "sucks less" than XM. The company has posted only an 8 percent increase in stock price since September 2004, yet it is much better than the 61 percent decline XM has posted in the same period.

Karmazin said that Wall Street has a negative view of satellite radio in general, and that was holding investors back from buying stocks in either company. He noted that both have made progress in moving towards profitability and attracting new customers. In other comments, he acknowledged it will be an "uphill battle" to get the merger approved, and that he still approved of Howard Stern's $500 million contract.