XM Satellite Radio Holdings Inc. (XMSR)

Not a buy for him as it has over $1 billion in debt. It's growing quickly, but to put a value on it he would need a little bit more to play with. Still a lot of challlenges ahead.

Opinions are all over the map. In competition with Sirius Satellite (SIRI-Q). Both have satelittes operating and are each other to attract individual users/ car makers (installations on new cars). Subscriber base is not being built as fast as many had hoped. Sirius will be cash flow negative for at least 1/2 years and has a lot of shares outstanding. Speculative.

This and Sirius are very exciting growth plays in the US market, but there are no earnings. It's all blue sky. There's no doubt that these radios will be installed into cars. Have gone up, but would prefer them to have some earnings. Fairly speculative.

Loves the satellite radio business. Going to be a home run.