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CC, Banks, Deregulation
- Thread starter Stewy
- Start date
V
vadar
Guest
Good observation Stewmeister.............what goes around comes around..............
The mortgage industry is collapsing and is taking the economy down too because EVIL GREEDY BASTARDS screwed good people, an industry and shareholders.
Clear Channel is collapsing and is taking the radio industry down too, because EVIL GREEDY BASTARDS screwed over employees, good people, an industry, advertisers and shareholders. Yes I understand radio is just a business, but when you have to EAT PEOPLE for a living you deserve to spend an eternity rotting in hell!!!
To Clear Channel, Cox Broadcasting, and other evil empires who operate their businesses like CC, I have one wish for you. I hope you all go to hell.
Clear Channel is collapsing and is taking the radio industry down too, because EVIL GREEDY BASTARDS screwed over employees, good people, an industry, advertisers and shareholders. Yes I understand radio is just a business, but when you have to EAT PEOPLE for a living you deserve to spend an eternity rotting in hell!!!
To Clear Channel, Cox Broadcasting, and other evil empires who operate their businesses like CC, I have one wish for you. I hope you all go to hell.
W
wannabepd
Guest
I must chime in on this topic because there are people in this biz who are not seeing the big picture. Radio is going thru a transition just like every segment of the market. CC for instance is the target of much hate that I believe is unjust. CC is guilty of making bad buisness decisions, not greed. I here people refer to these CEO's and alike as "Evil Greedy Bastards". I don't see it that way at all. First off, Define greed or greedy? It is difficult to define. Look at the other side of this. Look at the cost of doing buisness today. The amount of money it costs to hire 1 employee. Consider the taxes, health insurance, equipment, not to mention their base pay. Now lets look at the other fees that are imposed on a radio station by the Fed government for License fees, taxes, insurance and so on. Radio owners spend millions of dollars for attourneys, accountants and tax specialists to adhere to the current tax code. They hand millions to Arbitron. While the cost of doing buisness continues to go up, radio stations are not realizing the same increases in revenue. The profit margin is shrinking accross the board. How much money does CC have to spend to generate 1 dollar in revenue. If that number is above 92 cents the company is not going to satisfy it's share holders. 8% is a minimum profit margin. The cuts that radio stations must make usually starts with paper clips and cheaper equipment and eventually the cuts move on to employees, people. CC has made some bad buisness decisions, that does not make them evil or greedy. It makes them less attractive to investors. I for one want these radio groups large and small to get thru this transition and make a large profit. What do you think would happen if CC closed it's doors right now. Alot of good people would be out of work. Where would they go. 99% of the workers in the US are on someones payroll. We work for someone else. Someone else assumed all the risk to start the buisness we work for. They do it to make a profit. I want companys to profit or we all loose. It takes guts to start your own buisness, that's why we all don't own our own buisness. It is risky and it takes hard work. Radio is an unattractive place to work today because there is so little money to go around for all the stations that are competing for the same dollars. The pie is not shrinking, there are too many stations fighting for the biggest piece. The only way a radio station, or group is going to survive is by making good sound buisness decisions, that does not always mean good programming. I understand the way so many feel about this, I got out of radio because I saw it coming and I am able to do something else. Would you be willing to take out a second Mortgage and put your home at risk to purchase a radio station. I know someone who did just that. He put everything he owned at risk for a chance to realize the kind of life style he wanted to provide for his family. He assumed all the risk, he should realize as much of the return as he wants if it works. In this case he has grown from 1 station to almost 25. He employees close to 1000 people. They all count on him to make good buisness decisions. That is not always the case.
Before we start throwing daggers and stones and sending someone to hell, consider what the reality is. MOST Rich people are not rich because they sat on their ass, they took a risk and invested in something. How many of us would be willing to risk everything for a chance to realize a dream. I did it and I failed. So I work for someone else today. At least I tried. If we want radio to be attractive to good employees and investors, we need to be cheering for those who are willing to put it all on the line to own radio stations.
If they all fail, we all loose!
Before we start throwing daggers and stones and sending someone to hell, consider what the reality is. MOST Rich people are not rich because they sat on their ass, they took a risk and invested in something. How many of us would be willing to risk everything for a chance to realize a dream. I did it and I failed. So I work for someone else today. At least I tried. If we want radio to be attractive to good employees and investors, we need to be cheering for those who are willing to put it all on the line to own radio stations.
If they all fail, we all loose!
Yes radio is a business. And yes to assume all the risk they deserve to make all the money they can! However, they simply don't have the right to treat people like toilet paper, that’s evil, it’s that simple. Like you I got out of the business and I'm glad I did. I feel better and my sanity has returned. Radio is changing and we haven’t seen the bottom yet.
Radio has great people and attracts talent that’s not radio’s problem. But even if revenues are growing, the current crop of radio management will continue to treat their people poorly. This is not a new concept and it’s been going on for some time now. Clear Channel, Cox and other radio clowns have fired everyone and yes it’s that bad. Pump and dump. Radio is built on relationships and high turnover isn’t a good relationship strategy. And I’m surprised they can still find smart people willing to work for radio. Companies like CC were the worst thing ever to happen. Radio is a creative business and yes attracts creative people. But they’ve squeezed every ounce of creativity out of radio and their people.
From the WSJ:
If it doesn't go private, Clear Channel will be relying on
Disgruntled employees to help drive growth in a tough economic climate.
Going forward, Clear Channel would have to incentivize those same workers. The company may turn to layoffs to cut costs, although prior layoffs over the past few years have left staff cut close to the bone, current employees have said. What’s left to cut?
Read the article
http://online.wsj.com/article/SB120660493325368265.html?mod=todays_us
From the WSJ:
If it doesn't go private, Clear Channel will be relying on
Disgruntled employees to help drive growth in a tough economic climate.
Going forward, Clear Channel would have to incentivize those same workers. The company may turn to layoffs to cut costs, although prior layoffs over the past few years have left staff cut close to the bone, current employees have said. What’s left to cut?
Read the article
http://online.wsj.com/article/SB120660493325368265.html?mod=todays_us
There's no simple answer to how radio has arrived at where it is today.
Sometimes the best of intentions winds up creating new problems that were never anticipated in the first place. For a long time, I considered myself a trusting individual who accepted things at face value. Over the last few years, I've changed. It's unfortunate in some respects to become more cynical about almost everything but I believe that comes from being let down about so many things for a countless number of times. Maybe the expression getting older and wiser could apply to me too. Who knows?
As far as trusting, I did trust what deregulation was to do for radio. I applauded it in fact as a way to help struggling radio stations. After all, combining clusters of stations in one building, tasking sales staff to sell for multiple stations, increasing management responsibilities from one station to five etc. were just a few things that would help the bottom line. I actually thought that would better position radio to remain competitive and to continue to deliver a superior product.
When we talk greed, I don't believe you can really point to one or two parts of this whole evolution. It's the American way - everyone wants to make a killing and we as a society want the biggest bang from our investments. Back when companies such as CC starting buying radio stations from the little guys, they often purchased these stations for a premium. Perhaps everyone thought over time stations would just continue to provide a good income stream and would appreciate in value.
But as I look at the kind of decisions that were made over the years, I believe the biggest error was putting people in decion-making capacity who did not understand the personal nature of commercial radio. When listeners continue to loose that emotional attachment or draw to it, I become very concerned. Commercial radio is not the only game in town. People have many choices. And even technology is new competition for radio. It seems the radio decision-makers are making it easier for listeners to go elsewhere. I don't understand why it's that way.
Speaking of technology, radio should not only embrace it to help their bottom line but they should have used it to make their product even better. But they went too far and I believe used it in ways that wasn't really the intent. Automated programming of the music so the talent has fewer "button-pushing" duties, I believe could have been designed to give the jock more opportunity to concentrate on other aspects of his/her show such as having interaction with listeners or to be better able to respond to a traffic, weather or breaking-news event. But instead, the talent was silenced and it gave the bean-counters an opportunity to significantly slash payroll. Anytime any business wants to show a better revenue position, the quickest way to do that is to reduce payroll expense.
Terrestrial radio is at its best when it is local - involved with the community it serves, provides timely information, entertains and is inclusive in reflecting the diversity of the community. Today's radio misses the mark on all of these. The emotional attachment continues to be challenged each day reducing time listening and encouraging the public to seek alternatives.
I noticed banks were a part of the subject in this post as well. Recently, I walked away from a career in that business that spanned about 34 years. I can't believe I lasted that long. We had the same bean-counter mentality that came along and cut teller staff whenever we needed to beef up profits to satisfy Wall Street expectations. And then I was expected to keep the customer service scores up. Not easy to keep customers happy when you have no staff. Radio does the same thing. In a lot of ways, I can relate to many in the radio business who have walked away never to look back.
There's still a part of me who believes decision making in radio will involve bringing in those who understand radio - the real radio people who understand radio should go back to "theater of the mind" and grow personality attachment. I'd like to see them work with the bean-counters to offer a competitive product and to give people an incentive to listen.
Initially I thought I'd write a few sentences on this subject but I guess I got a little carried away. Hope I made my points without too much rambling. Thanks.
Sometimes the best of intentions winds up creating new problems that were never anticipated in the first place. For a long time, I considered myself a trusting individual who accepted things at face value. Over the last few years, I've changed. It's unfortunate in some respects to become more cynical about almost everything but I believe that comes from being let down about so many things for a countless number of times. Maybe the expression getting older and wiser could apply to me too. Who knows?
As far as trusting, I did trust what deregulation was to do for radio. I applauded it in fact as a way to help struggling radio stations. After all, combining clusters of stations in one building, tasking sales staff to sell for multiple stations, increasing management responsibilities from one station to five etc. were just a few things that would help the bottom line. I actually thought that would better position radio to remain competitive and to continue to deliver a superior product.
When we talk greed, I don't believe you can really point to one or two parts of this whole evolution. It's the American way - everyone wants to make a killing and we as a society want the biggest bang from our investments. Back when companies such as CC starting buying radio stations from the little guys, they often purchased these stations for a premium. Perhaps everyone thought over time stations would just continue to provide a good income stream and would appreciate in value.
But as I look at the kind of decisions that were made over the years, I believe the biggest error was putting people in decion-making capacity who did not understand the personal nature of commercial radio. When listeners continue to loose that emotional attachment or draw to it, I become very concerned. Commercial radio is not the only game in town. People have many choices. And even technology is new competition for radio. It seems the radio decision-makers are making it easier for listeners to go elsewhere. I don't understand why it's that way.
Speaking of technology, radio should not only embrace it to help their bottom line but they should have used it to make their product even better. But they went too far and I believe used it in ways that wasn't really the intent. Automated programming of the music so the talent has fewer "button-pushing" duties, I believe could have been designed to give the jock more opportunity to concentrate on other aspects of his/her show such as having interaction with listeners or to be better able to respond to a traffic, weather or breaking-news event. But instead, the talent was silenced and it gave the bean-counters an opportunity to significantly slash payroll. Anytime any business wants to show a better revenue position, the quickest way to do that is to reduce payroll expense.
Terrestrial radio is at its best when it is local - involved with the community it serves, provides timely information, entertains and is inclusive in reflecting the diversity of the community. Today's radio misses the mark on all of these. The emotional attachment continues to be challenged each day reducing time listening and encouraging the public to seek alternatives.
I noticed banks were a part of the subject in this post as well. Recently, I walked away from a career in that business that spanned about 34 years. I can't believe I lasted that long. We had the same bean-counter mentality that came along and cut teller staff whenever we needed to beef up profits to satisfy Wall Street expectations. And then I was expected to keep the customer service scores up. Not easy to keep customers happy when you have no staff. Radio does the same thing. In a lot of ways, I can relate to many in the radio business who have walked away never to look back.
There's still a part of me who believes decision making in radio will involve bringing in those who understand radio - the real radio people who understand radio should go back to "theater of the mind" and grow personality attachment. I'd like to see them work with the bean-counters to offer a competitive product and to give people an incentive to listen.
Initially I thought I'd write a few sentences on this subject but I guess I got a little carried away. Hope I made my points without too much rambling. Thanks.
A
attackpoodle
Guest
John Jax is right, bean counters and investors have taken over the "creative" business of radio and therefore have created the mess we are in today. Anyone who knows how to operate is usually shown the door because they want to "spend" rather than cut. The GM's andf MM's these days are just the cabana boys and hatchet men for the board of directors and investors. The follow the leader (CC) mentality is still prevalent. Hey guys CC doesn't have a clue time to come up with one of your own, doh!
Until younger minded (like Randy Michaels), radiowise people (who are in tune with new technology and know how to integrate with radio) start owning and managing stations the sinking will continue...get your life jackets on now if you haven't already jumped ship!
Until younger minded (like Randy Michaels), radiowise people (who are in tune with new technology and know how to integrate with radio) start owning and managing stations the sinking will continue...get your life jackets on now if you haven't already jumped ship!
Before we engage in Randy Michaels hero worship, let's remember this quote he gave to Radio Ink magazine in 2002 about voicetracking:
"Voicetracking is all about improving product quality and yes, you can save some money."
Michaels is sort of the Anakin Skywalker/Darth Vader of radio... which side is he on now? ???
"Voicetracking is all about improving product quality and yes, you can save some money."
Michaels is sort of the Anakin Skywalker/Darth Vader of radio... which side is he on now? ???
For a long time now, Americans have been saying the economy is in a recession. Yet until just recently the government has been saying what recession? Many radio people would agree cutting the industry to the bone hasn’t been good for radio. And voice tracking is another kink in the armor making radio weaker. Yet industry leaders and their followers would say based on Aribtron ratings people are still listening to radio. Or the erosion of 18-to-34 adults isn’t that bad. It maybe radio’s leaders are so focused on the bottom line, they’ve become out of touch with the “art of broadcasting” an intangible quality that made radio great and allowed listeners to develop an emotional connection to their favorite station.
Stewy said:
It is weird to see them both unfold at the same time, though I shouldn't be surprised.
"Deregulation" is a dirty business word, as far as I'm concerned.
I've always liked the saying, "Come to me with solutions, not problems."
The now and next generation interacts instantly on the internet.
How do you integrate and make radio "cool" again?
The now and next generation interacts instantly on the internet.
How do you integrate and make radio "cool" again?
A make a buck or two? :
I don't think the "intent" of Clear Channel was "evil"...a corporation has to grow to increase it's business. Obviously, there were a limiting number of radio stations, so Clear Channel started buying other stations and groups in order to grow it's business. The problem came when other smaller companies would start consuming all the stations in a given region and moving those stations to the largest city in the market in the hopes of building a group that would appeal to Clear Channel or Cumulus so that they could sell the group and make a huge profit. Then all of a sudden you have a bunch of stations all concentrated in one city and the local merchants are just overwhelmed with sales reps trying to sell all those stations. Whereas previously, all lot of those stations were in the smaller, outlying communities where they served the needs of the local communities and their businesses. I think the intent of the new localism provisions that the FCC hopes to implement is to cause the big chains to move those stations back to the communities which they were originally intended to serve. The question now...is it too late? If all the broadcasting groups have to move the studios back to transmitter location will it bankrupt them?
B
Brother Bear
Guest
The road to hell is paved with good intentions.
To postulate whether CC's 'intent' was evil is not unlike wondering whether Hitler's 'intent' was evil. In the 30's Joe Kennedy and Henry Ford didn't seem to think so. Hitler was just protecting Germany by occupying the Rhineland, Austria, Czecheslovakia, Hungary. Why, a nation must grow to meet the needs of her people, right?
The Evil Empires KNEW what they were doing by purchasing groups of stations for WAY more than they were worth. They wanted to corner the market and cash in on the lucrative radio advertising dollar - there was never an intent to improve the product. Unfortuantely several groups had the same idea at the same time, wannabes followed and the whole mess ended up looking like Larry, Moe, & Curly trying to jam themselves through a door frame at the same time. They had to cut the bottom line, good jocks went to sell insurance, and we have blood all over the floor because of greedy bean counters wanted a big payoff with no work.
If you spend your life worried about what the government and the FCC are going to do, radio will never come back.
We need bold, new thinkers that aren't afraid of a few market ups and downs to take the reigns on the market level and re-start radio's heart.
Be brave and stand up like generations of American men and women have done before ... and think of this quote -
"Some people see things as they are and ask, "Why?"
I dream things that never were and ask "Why not?"
There's NO room for the feeble hearted in radio's Undiscovered Country. If we are going to take her back and make radio better than it ever was, the bellyachers and malcontents must be left behind.
To postulate whether CC's 'intent' was evil is not unlike wondering whether Hitler's 'intent' was evil. In the 30's Joe Kennedy and Henry Ford didn't seem to think so. Hitler was just protecting Germany by occupying the Rhineland, Austria, Czecheslovakia, Hungary. Why, a nation must grow to meet the needs of her people, right?
The Evil Empires KNEW what they were doing by purchasing groups of stations for WAY more than they were worth. They wanted to corner the market and cash in on the lucrative radio advertising dollar - there was never an intent to improve the product. Unfortuantely several groups had the same idea at the same time, wannabes followed and the whole mess ended up looking like Larry, Moe, & Curly trying to jam themselves through a door frame at the same time. They had to cut the bottom line, good jocks went to sell insurance, and we have blood all over the floor because of greedy bean counters wanted a big payoff with no work.
If you spend your life worried about what the government and the FCC are going to do, radio will never come back.
We need bold, new thinkers that aren't afraid of a few market ups and downs to take the reigns on the market level and re-start radio's heart.
Be brave and stand up like generations of American men and women have done before ... and think of this quote -
"Some people see things as they are and ask, "Why?"
I dream things that never were and ask "Why not?"
There's NO room for the feeble hearted in radio's Undiscovered Country. If we are going to take her back and make radio better than it ever was, the bellyachers and malcontents must be left behind.
Maybe Clear Channels intent wasn’t evil, but greed & evil make nice bed partners. If you told me employees got raises. I’d say these guys aren’t bad. But under their run more jobs were eliminated and incomes actually shrank. And Cox, Renda and others followed their leadership! Because of Clear Channel the industry went backwards and stopped investing in their most treasured asset, talented creative people.
I’m sure now that times are tougher for Radio, the Mays family and alike can only drive a new Mercedes every-other year. After all, if they’re asking their people to make sacrifices under these challenging times it’s the least they can do! The truth is CLEAR CHANNEL IS FREAKING OUT, watching their golden parachute being flushed down the drain and is playing every dirty-trick in the book so they can to push this deal through to Bain Capital LLC and Thomas H. Lee Partners And when this deal goes through the Mays family will take the money and run. If you told me every employee will get a nice bonus after the sale I’d say these guys aren’t bad.. but that won’t happen. Ex Clear Channel employees will be lucky to have a job and likely will have to deal with more cuts and suffering.
Hitler did a few good things for Germany. Built nice highways and even was instrumental in working with manufactures to create the VW bug so ever man could drive on his nice highways. Though in the end this mad mans quest for what mattered most himself, and power led to more people suffering and losing their lives.
Clear Channel isn’t evil, they’re greedy and like a mad man they will do anything to protect what matter most. Themselves!
I’m sure now that times are tougher for Radio, the Mays family and alike can only drive a new Mercedes every-other year. After all, if they’re asking their people to make sacrifices under these challenging times it’s the least they can do! The truth is CLEAR CHANNEL IS FREAKING OUT, watching their golden parachute being flushed down the drain and is playing every dirty-trick in the book so they can to push this deal through to Bain Capital LLC and Thomas H. Lee Partners And when this deal goes through the Mays family will take the money and run. If you told me every employee will get a nice bonus after the sale I’d say these guys aren’t bad.. but that won’t happen. Ex Clear Channel employees will be lucky to have a job and likely will have to deal with more cuts and suffering.
Hitler did a few good things for Germany. Built nice highways and even was instrumental in working with manufactures to create the VW bug so ever man could drive on his nice highways. Though in the end this mad mans quest for what mattered most himself, and power led to more people suffering and losing their lives.
Clear Channel isn’t evil, they’re greedy and like a mad man they will do anything to protect what matter most. Themselves!
V
vadar
Guest
Greed is the evil here, plain and simple. I agree with this post. Wall Street is full of greedy bastards and the suits in radio are no better.
Greed will kill the American Dynasty as we watch China and India become the new powerful countries as America works its way to a 3rd world nation in less than 2 generations.
Very sad to see this...........
Greed will kill the American Dynasty as we watch China and India become the new powerful countries as America works its way to a 3rd world nation in less than 2 generations.
Very sad to see this...........
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