Another One Bites The Dust
CBS reports that “Citadel Broadcasting Corp., the nation’s third-largest radio broadcasting company, filed for Chapter 11 bankruptcy protection”.
Another media conglomerate that went deep into hock to buy up radio stations. Then it centralized everything and fired a lot of people to maximize the profits, but couldn’t survive because of the huge debt load.
Local radio stations need local personalities to attract local advertisers. They need to connect to the local community or people will have no loyalty.
This is just the latest example of the basic stupidity of greedy people with no long-range vision. They aren’t investing, they are gambling with borrowed money.
9 comments
This the best news I’ve read all month. Serves em right.
.-= last blog ..A Bloodletting, or; Thank You for Smoking. =-.
I’m sick of the homogenized crap that is the radio spectrum today, with format changes seemingly every other month. I actually know how to change the presets in my Mother’s car, something I never bothered to remember in the old days, because the radio stations grew with their audience.
Today, they don’t know anything about their audience.
This is just the latest example of the basic stupidity of greedy people with no long-range vision. They aren’t investing, they are gambling with borrowed money.
I couldn’t have said it better myself!! And I hope ALL of the greedy stupid bastards everywhere end up dead broke under a bridge. That would be justice IMHO!
I’m not sure the people on the sex offenders list who are currently forced to live under bridges in Florida because of all of the restrictions telling them where they aren’t permitted to live, would allow media moguls to share the space – they have standards.
Bingo! 😉 That was my thought exactly! justice! 😉 👿
This thread has the most appropriate title to post some Christmas Cheer! 😉 😆
OT: Just reading the news on one of my fave techie blogs, and this was posted. Merry Christmas (or whatever) everyone! 😀
Gates Successor May Leave, Steve Ballmer Expected to be Kicked Out Too
Oh… and this one has a pic of a cat, for people who like cat’s… 😉
Microsoft Still Corrupts the Meaning of “Open” in Order to Enter Government Contracts, Cronies Help
So… The Dweeb is still bent on World Domination(tm), but he’s having a few problems it seems… The Dweeb should have spent a lot more time studying Dr. Evil (or even Mini-Me), even Siegfried was better! 😆 Even Starker had a bigger clue stick! 😈
Must be Christmas! 😉
After Vista, followed by Windows 7 released during the GOPrecession, I’m not surprised that there is some disgruntlement around the M$ board table. The stock is in the tank, with all the others, and buying up little companies will real products just attracts regulators. They have run out of “vision” and watching the market share erode. Nothing really catastrophic, but the trend is headed in the wrong direction.
They didn’t groom anyone to take over, and the standard group of CEOs are worthless for tech companies.
Couldn’t happen to a nicer group of jerks. Those pink slips/redundancy notices are fitting Solstice gifts to the IT world.
Found a comment on the ABC blog that pretty much says it all about a major eason the US is going down the crapper.
Sad really. *sigh*
White House Forecasts Job Growth Next Year
Yeah… lot’s of job growth, for imported cheap semi-slave labor. Way to go
ChinaUSA.H1-Bs are seven years of indentured servitude for the people who get them. It is a form of legal slavery that is endorsed by all of the tech companies, who claim the the thousands of unemployed IT people who are 50+ years of age don’t actually exist. Bill was constantly haranguing Congress to increase the numbers.
The worst bit is that Americans are often required to train the people that will be taking their jobs. The corporate thinking is that this will make people angry enough to quit and save the corporation the benefits that they have to pay when they lay someone off, including unemployment insurance.
The program is necessary in very limited circumstances, but IT is not one of those circumstances. If they want to outsource the jobs, no one can stop them, but they want to claim they have an American made product because of export restrictions, so they bring the foreigners to this country. The corporations and foreign labor contractors make a lot of money, while the actual workers, both the visa holders and those they replace get screwed.