<A HREF="http://www.xmradio.com">XM Satellite Radio Holdings</A> is now in a position to operate well into the fourth quarter of 2002, thanks to a $129 million stock offering underwritten by Morgan Stanley Company. XM made the announcement in a press release dated December 10.

It was an unusually fine day for a New York September. The W train crept from the subway tunnel into the sunlight of the Manhattan Bridge&mdash;"My God, the World Trade Center's on fire!" came the voice of the woman driving the train. I vividly remember what I did the rest of that day&mdash;the day the world terribly changed.

It was an unusually fine day for a New York September. The W train crept from the subway tunnel into the sunlight of the Manhattan Bridge—"My God, the World Trade Center's on fire!" came the voice of the woman driving the train. I vividly remember what I did the rest of that day—the day the world terribly changed.

"Hey, J-10!" John Atkinson called from the hallway outside my office. "I liked your October 'Fine Tunes'!"

As I sit down to write a year's-end musical retrospective, I feel that the old column-writing joke between Stereophile editor John Atkinson and myself about first needing a subject and, second, needing it to make sense, will not be a problem this time out. For me, the music and almost everything else about 2001 have been dwarfed in importance by the mayhem wreaked on New York on September 11.

For any audio company to be successful, it needs to cover what my business school teachers used to call the "Four Ps": Product, Price, Promotion, and Place. In other words, success will follow if a company can slice up its resources to properly promote the right product at the right price and make it available in the right places.

Every <A HREF="http://www.cesweb.org">Consumer Electronics Show</A> features unusual prototypes from engineers throughout the world. Some are laboratory curiosities that never develop into viable products, but others have great potential.

Audiophiles tend to be a fussy lot. But there are always a few sure-fire items that will put a smile on their faces without breaking the bank. We've got dozens of great ideas, guaranteed to suit every taste, available online (links are below) from our secure Web pages.

For the tenth consecutive year, <I>Stereophile</I> writers and editors ferret out those components that have proved capable of giving musical pleasure beyond the formal review period and have wrapped them all up as <A HREF="http://www.stereophile.com//features/464/">The 2001 Products of the Year</A>. The envelope please.