From today's Washington Post:
[Y]esterday XM gave investors a jolt when it revealed that its insurers rejected its $400 million claim on the two orbiting satellites its service depends on. The satellites, launched in 2001, were supposed to work for about 17 years, but defects related to their solar panels mean they will only be useful until 2008. Moreover, the malfunctions are forcing the company to take on $320 million in expenses early because XM must now launch its spare satellite next year and pay for a fourth, spare satellite in 2005.The defects in Rock and Roll (the two existing satellites) are design flaws. The third satellite, XM 3, has been fixed.
It's actually a little sad that the best name XM could come up for this spare is "XM 3". What's wrong with "Rhythm" to be followed by "Blues"? Or "Country" and "Western"? Or "Metal"? Even Georgia would be cuter than "XM 3"...
