Big Salaries with this economy

[ParisHiltonisGod]

Ok just curious here but since most of the big jocks are under contract till whenever, do you think when its time for their renewals they will get less because of this terrible economy or will they get more? I mean what do you think p&A make or geoff charles or giovannni & kim, dan yorke, depetro, helen glover?? I heard that when arlene in her last years was making about 125K but then she had her endorsements and stuff... it just seems like an awful lot for being on the radio for 4 hrs/day.

 

[Holy Cow!]

..and this is how radio slowly dies as a career. It used to be a fun way to earn a living. Now, people like you look at it as an hourly job. No wonder all the talent is leaving the building.

PHG: I hear Fred and Mark calling your name...and he wants to hire you...and put you on 4 stations for 8.66 an hour. Oops, just 4 hours a day, though! Sorry, that's not fulltime - no benefits either, okay?

 

[wknd92]

Ok just curious here but since most of the big jocks are under contract till whenever, do you think when its time for their renewals they will get less because of this terrible economy or will they get more? I mean what do you think p&A make or geoff charles or giovannni & kim, dan yorke, depetro, helen glover?? I heard that when arlene in her last years was making about 125K but then she had her endorsements and stuff... it just seems like an awful lot for being on the radio for 4 hrs/day.

I'd put John & Helen down toward the bottom of the market in terms of salary and P&A & Charles at the top (b/c of longevity w/ their stations) and the rest of your list in the middle....JD maybe making 80ish (prior to endorsements, etc) and P&A 125-150 or so.....be my guess after knowing that Butts and Degraide were just getting into the 100's back in 1994

 

[bingbangbo]

Buddy makes over 300 large and Ron about 2 large. Half a million right there. Hey if they got the Ads, what the Hell? As far as WPRO, no one who works on any of the 4 talk shows should get under 12 bucks an hour. The screeners, producers, opps, make the show happen. Dan Yorke Producer should get min 40,000. He puts up with alot and is constantly abused.




Booooooooooooooooo

 

[McRadio]

That's the bottom line. If they have the ads, what the hell? I know we're going to end up talking about talk show hosts mainly here but the more you make the more the pressure is on you. Corporate doesn't say "oh well, he's really good so even though the numbers and ad dollars aren't there as much, we'll keep him". We've seen how some pretty high paid people have been let go and it's a matter of budget. Would you rather make the big bucks and feel your job is always at risk or fly under the radar making less but feel more secure? I'll go with the big bucks and not as much longevity. Get it while you can get it.

 

[S DANMAN]

Ugliness is coming to that line-up soon. Remember when Holland encouraged us all to buy all the Citadel stock we could at $1.00 a share? It's now at 67 cents. They're paying Imus and the gang millions. How long do you think they'll have a million dollar plus payroll on WPRO-AM ?

 

[jeffryan]

Here's the deal guys. If you look at other markets (including major markets), even talkshow hosts that have the billing to justify their salaries are being targeted. Only they're not just taking pay cuts... some of them are being let go.

The new conventional wisdow (especially from Farid at Citadel) is that the advertising clients will always be there no matter what. This means you don't need an AE to service the accounts and you can put any talent on the air. I kid you not. It really has become this ridiculous.

Nobody is safe anymore... not even the big dogs in the studio and sales department. Most of these companies are so deep in debt that they are scrambling to cut anything that moves. Radio got itself in this mess, not the economy. A weaker economy is just a good excuse for Farid to use in order to shift attention away from his own incompetence.

The 8th Annual Clear Channel Christmas Layoffs aren't just going to effect Clear Channel. Citadel is going to get hit much worse this year. Expect to see Matt Allen in either morning or afternoon drive.

If you own Citadel stock, you can't even sell it. Trading has been halted for the past few trading sessions amidst a likely delisting. How comforting.

Meanwhile, Apple is a bargain at $100 a share and Steve Jobs, unlike Farid, is still a genius.

 

[alfieradioguy]

I agree with you Jeff. More than ever with Cit pretty much broke. Put Allen in and drop one or 2 big money talents. Save 3 or 4 hundred grand. WPRO won't loose one client.. It's just a matter of time.
Wonder how WPRO let themselves get caught up in the Buddy bidding? They didn't need to.
I also wonder if WPROs G.M. is on borrowed time?

 

[Holland Cooke]

Wanna REALLY "gamble?"

Ugliness is coming to that line-up soon. Remember when Holland encouraged us all to buy all the Citadel stock we could at $1.00 a share? It's now at 67 cents.

NOT pretty, eh?

SOME of us made some do-re-mi, hopping-in-and-out of CDL.
Musical chairs alrighty.

Now, we turn-our-attention to FXRE.

The "RE" stands for "real estate."
And "FX" as in principal "Robert F.X. Sillerman," who made a bundle buying-and-selling radio stations before everyone else did.
You might remember Sillerman Morrow Broadcasting, his partnership with Cousin Brucie.

His FXRE closed Friday @ 89 cents, off a 52-week high @ $10.

The company's assets include 18 acres ON the Las Vegas Strip, NEXT TO MGM Grand, AND licensing rights to "Muhammad Ali" and "Elvis Presley."

Remember the two things "they say" about real estate:
1. "They ain't makin' any more;" and
2. "Location, location, location."

It's tempting to think that the Vegas slump is already priced-in, eh?

 

[and.u.r?]

I don't see why pay cuts shouldn't be the next big thing.With things so bad and people faced with being let go and contracts not being renewed,why wouldn't some of the higher priced people opt for a cut rather than being sent away at a time when radio jobs are scarce?A pay cut for someone making $30K would be a problem for that person but when it comes to the $100K plus people you're not talking major hardship.Let's face it you hit the streets and collect unemployment or work for less but still work for a good wage.

 

[jeffryan]

I agree with you Jeff. More than ever with Cit pretty much broke. Put Allen in and drop one or 2 big money talents. Save 3 or 4 hundred grand. WPRO won't loose one client.. It's just a matter of time.

The point I was making there is that Farid thinks clients will advertise on radio simply for the fact that... well, it's radio, damnit! Everyone wants to advertise on radio! We don't need strong on-air telents! And we really don't need AEs! The clients are beating a path to our door!

Note the sarcasm. However, Farid really does believe that he can save money by slashing the two most important parts of a radio station's budget, sadly.

Simple economics tells you that growth industries hire people, they don't fire them. More simply put, spend money to make money.... especially in the sales department! I mean, those are the guys and gals responsibile for bringing every single cent into the station for crying out loud! Without a talented and well trained sales force, you go out of business. It's as simple as that. Anyone who has done radio sales will tell you that is where the hardest work is done. It is also the most financially rewarding work, deservedly so.

I think over time, WPRO would lose clients. Just expecting advertisers to remain without strong AEs servicing their accounts is a new height of stupidity, even for Farid. Accounts can't be put on autopilot and new ones certainly aren't going to magically appear. You still need a solid sales staff, despite Farid's naive belief that AEs can be unnecessary.

But don't tell Farid that. If history is any indication, his mind is already made up. The cuts are a comin'.

 

[alfieradioguy]

I was being sacastic (to Farid). Cause you're right Jeff , thats what he's going to do..

Anyone have the details on how Farid brought CDL from ten dollars a share to 55 cents..
I'd love to hear it. Oh, and he still has his job. Has he taken a PAY CUT??? LoL!!!

 

[S DANMAN]

Salespeople are paid commission on what they sell. Why would he need to blow out his best ones? If they aren't cutting it, they don't get paid. Simple as that?

 

[jeffryan]

Salespeople are paid commission on what they sell. Why would he need to blow out his best ones? If they aren't cutting it, they don't get paid. Simple as that?

Because the highly paid salespeople are just that... highly paid! Farid foolishly believes that the sales will come no matter what. As a result, best sales people who understandably and deservedly make the most money are the next in line for Farid's guillotine. To be fair, it's not just Farid who thinks this way. Other companies are letting go their highest paid AEs... those are where the meaty salaries are... not the kid still getting a draw. He gets to keep his job even though he's not as successful as the guy making 6 figures. The thinking is that the advertisers will stick around. The reality is they might not... and what about new business? This sh!t is so insane I can't even make it up.

 

[oaktree]

At this very moment, with two hours exactly left in this trading day, my little stock alarm went off for the 4th time today ... revealing that CDL is now trading at $.47 a share ... down $.20 today for a net loss of, in one day, 30% of it's investor holding.

Jeff's right. Talk about not being able to sell that stock. And SiriusXM is right behind it. Westwood One sits at $.39 cents a share.

Remember ... this doesn't mean a thing, however, to CDL's "asset" column. Still great radio stations with a decent bottom line on operating revenues.

So what's this mean? It means no one wants the stock for the future and for expansion. A continued turn in the economy will affect the bottom line from an advertising viewpoint even more ... but soon, Farid might just consider unloading some "assets" to hedge against the short-bets that the company as it sits is set for a takeover or a bankruptcy. Without the investor growth, there is none ... especially when the economy tanks like it is now.

In other words, the investors pay for the "prize" in high salaried talent, technology and the buying and selling of future properties for profitability.

In Citadel's case, those days are over, hence the scramble to unload.

Next step, a begging for an angel like Warren Buffett to prop up the asset value of the properties ... highly very unlikely.

Let Citadel go down to $.40 a share and watch what happens.

CDL, as we know it is history.

 

[oaktree]

Now ... at $.45 a share with 90 minutes left in this trading day. The biggest loss in the history of Citadel / ABC. Not a good time to hedge the bet that the "buy" sign is about flash. The company has rebounded three times in the last year, never above a buck a share for more than a few days at a time.

As long as there is volitility like this ... as predicted for "quite some time," would you as a commercial lender, bet on CDL as one capable of profitiability? Would you lend them millions to go with investor participation? Can you imagine how long it takes to just break even no matter how many millions of shares an individual investor might own? You'd never get the stock price back up to the $11 a share it once was 18 months ago.

And yet, I see Farid, who made $11-million with taxes PRE PAYED by his board of directors last year ... continuing to dazzle with brilliance.

And as long as there are contracts, Imus still gets his $5-million, Hannity is share of Citadel/ABC's $200-million and there must be scrambling to find a commercial lender who would want to touch this stock. It's not hard to find the institutions who banked already on this stock ... do a little research. You'll find a few that have sunk to the depths, taking this stock with them.

A sad day for radio ... and another reason why unless you have private money, you won't find banks going through the pains of a Clear Channel, Citadel, Emmis, Entercom, SiriusXM, WON, Regency, Radio One or others again. Too many companies in the same shape as Citadel.

I predict that at, now, $.46 a share (up a cent from the start of this post,) that the last hour ... especially that last five minutes, will be nail biting time for CDL. A set up for failure of the worst kind tomorrow or Wednesday.

Life jackets, everybody. It's going to be a rough ride.

And remember ... with the Stock Market Dow Jones Industrials down $785 so far today ... our $700,000,000,000 (billion) hasn't even kicked in ... yet. It's just "law" right now. And this is what we, as taxpayers, are directly funding.

Hope there are big changes in store for those who voted for this nonsense in one month. Changes on both sides.

 

[wknd92]

Everybody realizes that the company doesn't make a dime once the initial offering of the stock is made, right!?! It's the individual owners of the pieces of paper, the stockholders, who are looking at their money (and until you cash in, it isn't a gain or loss; but a potential one).
Take a look around...almost EVERYONE lost today, whether it is CDL, MVL (Marvel Entertainment), WWE (World Wrestling), HAS (Hasbro), CVS...etc.

 

[oaktree]

Excuse me ... a big difference in a stock like Marvel Entertainment that lost $.98 a share at $29.74 vs. Citadel, a mighty nationwide broadcaster that slipped for a time to $.45 a share before rebounding to $.55 a share, still down $.15 a share.

Make that a BIG difference.

WWF? Down $.51 to $14.74 a share. Again, a BIG difference.

HAS? Down $1.12 to $31+ change a share. A BIG difference.

CVS? Down to over $31+ a share ... down 4%

Citadel should be so lucky. Down at one time 30% of its corporate value ... and it's now only a PENNY STOCK.

You can't "cash in" a penny stock that you paid $22 a share for 18 months ago. That's called "losing real money."

 

[ryanbadrapper]

In the last year or so Citadel was over 10 dollars. Now it's 50 cents. worthless.
CDL would have to go up 20 times to get back to 10. That 2,000 percent.
A bit different than the WWE or CVS.


Ryan