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CEO, Mel karmazin was no longer running the ship, the companys conservative approach as it relates to guidance remains.

Then again, as evident by the stocks 60 gain in 2012, this is a strategy that has worked so no complaints there.

But Ill get back to this in a moment.

Ever since shares tanked to a nickel four years ago, Sirius XM has been a remarkable turnaround story.

Although Mel Karmazin is often credited for having reversed Siriuss fortunes, many investors choose to overlook that he was in charge when the company got into trouble in the first place.

40 of the company was a huge ransom retail investors had to pay.

Liberty Media for essentially (by todays standards) pennies.

By and large, this is why Karmazin is no longer with the company.

He would have stayed had Liberty wanted him.

At least thats my opinion.
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