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ARRadio1
Guest
Word has it the budget axe is swinging today.
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The cuts seem to be company wide, not just here. Wonder how the AX will swing? If 98.3 goes sports, that will be part of it. I don't know how much more cutting they can do here unless it's upper management.
So...the Cumulus axe swings on a nation-wide basis, huh?
Does that mean that Lew, John and the rest of the Toledo Pirates are also going to take one for the team?
Reply as you wish, when you stop laughing.
Does that mean that Lew, John and the rest of the Toledo Pirates are also going to take one for the team?
Reply as you wish, when you stop laughing.
I worked for Cumulus (Ft. Smith) at one time. When I started there in 99 we had every shift covered locally except for 7p-12. Yes overnights before 7p-12m. We even had 3 or 4 partimers. Last I heard, they were down to 2 people and a shared part timer. There is something very wrong with radio and it new direction.
D
DemareeVet
Guest
Dawn McCollough and Ryan James.
It's happening company wide. Some of my former co-workers at the Cumulus Mid-MO cluster were downsized, too. I understand there were massive cuts in Kansas City, and they cut several people in Topeka who they worked very hard to steal from their competition.
I was at Premier Radio in Columbia/Jefferson City when Cumulus took over four-and-a-half years ago. I didn't really have a problem with Cumulus at the time; it was a certain person in local management who made me hate every second of my job. Luckily, I had a job outside of radio lined up before he could swing the hatchet at me. At the time, it seemed like Cumulus was a company that got a bad rap more because of its programming philosophy than anything else. Now, that seems less likely.
I was at Premier Radio in Columbia/Jefferson City when Cumulus took over four-and-a-half years ago. I didn't really have a problem with Cumulus at the time; it was a certain person in local management who made me hate every second of my job. Luckily, I had a job outside of radio lined up before he could swing the hatchet at me. At the time, it seemed like Cumulus was a company that got a bad rap more because of its programming philosophy than anything else. Now, that seems less likely.
There were cuts in Iowa, too, and somebody posted this on an Iowa board (not here) from All Access:
Cumulus Cutbacks In Progress; RFP Status Update
No radio company is immune from cutbacks and CUMULUS is going through it this week. CUMULUS co-COO JOHN DICKEY spoke with ALL ACCESS about the changes.
[EDIT]
[EDIT-Citation exceeds amount of permissible content under Fair Use standards and has been truncated as a result.]
Cumulus Cutbacks In Progress; RFP Status Update
No radio company is immune from cutbacks and CUMULUS is going through it this week. CUMULUS co-COO JOHN DICKEY spoke with ALL ACCESS about the changes.
[EDIT]
[EDIT-Citation exceeds amount of permissible content under Fair Use standards and has been truncated as a result.]
W
Willie Jones
Guest
The axe hath definitely swingeth! it's radio tho...these things happen...pretty damn lean at this point!
I don't mean to be arguementative here, but...the cutbacks are NOT "company-wide" if they aren't happening at the corporate office, too.
I'll bet no one there will be cut.
Neither will any seven-figure salaries.
...and that, my friends is just a small part of what's wrong with corporate America.
I'll bet no one there will be cut.
Neither will any seven-figure salaries.
...and that, my friends is just a small part of what's wrong with corporate America.
i beg to differ with you, but Cumulus are cutting back. I have seen it happen all over the country. I am not picking on Cumulus, this type of thing is happening in ALL the companies, it's jsut the way it is.
O.K., I'll admit this much. What they are doing is NOT unique. However, saying "that's just how it is" doesn't deal with the problem...and clearly, there IS a problem.
If "that's just how it is", I have one question:
Why?
Why is it that way?
Why has a company leveraged itself so far into the wind that it "can't survive" when the wind blows?
Why does a company cut the workers to the bone and think it's going to solve a revenue shortfall?
Why does that company's "leadership" continue to draw over a million dollars a year in personal compensation while truly, madly, deeply hurting those who they throw away with a simple phone call?
Why do they act as if it doesn't matter? (saying it's "tough" isn't enough).
Why does that company consistantly ignore opportunities to bond with the local communities that provides their revenues?
I could go on and on. Put a "why" in front of any point of contention and you ask a truly serious question. I wonder how many of God's children would be served by the millions they pocket? That's an even more serious question.
The point is, if this company hadn't run up the cost of their purchases in the first place, the "overhead" wouldn't be kicking them in the shorts. In my view, they are not unlike these sub-prime mortgage clowns who helped fuel this spiral. The attitude of "whatever it takes to get what I want" is part and parcel of the problem. In those respects, they're getting what they deserve. Problem is...it's NOT getting them, it's getting their people...and that's just wrong.
If they had done business in a manner that truly serves their client base AND fostered a work place that wasn't ultimately hostile, such things might not happen. And yes, getting canned completely without cause is an extremely hostile act. It shows ultimate disregard for human-kind, and that's hostile.
Please don't tell me "it's a sign of the times" or "it's just the way it is".
Tell me why.
If "that's just how it is", I have one question:
Why?
Why is it that way?
Why has a company leveraged itself so far into the wind that it "can't survive" when the wind blows?
Why does a company cut the workers to the bone and think it's going to solve a revenue shortfall?
Why does that company's "leadership" continue to draw over a million dollars a year in personal compensation while truly, madly, deeply hurting those who they throw away with a simple phone call?
Why do they act as if it doesn't matter? (saying it's "tough" isn't enough).
Why does that company consistantly ignore opportunities to bond with the local communities that provides their revenues?
I could go on and on. Put a "why" in front of any point of contention and you ask a truly serious question. I wonder how many of God's children would be served by the millions they pocket? That's an even more serious question.
The point is, if this company hadn't run up the cost of their purchases in the first place, the "overhead" wouldn't be kicking them in the shorts. In my view, they are not unlike these sub-prime mortgage clowns who helped fuel this spiral. The attitude of "whatever it takes to get what I want" is part and parcel of the problem. In those respects, they're getting what they deserve. Problem is...it's NOT getting them, it's getting their people...and that's just wrong.
If they had done business in a manner that truly serves their client base AND fostered a work place that wasn't ultimately hostile, such things might not happen. And yes, getting canned completely without cause is an extremely hostile act. It shows ultimate disregard for human-kind, and that's hostile.
Please don't tell me "it's a sign of the times" or "it's just the way it is".
Tell me why.
I hate to be one of those guys who answers his own question, but after my last post, I went looking for the answer to my question. Turns out I wasn't far off base.
The following comes from the Iowa board. Thanks to "RadioVet 113" for spelling it out for me.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It is hard to sit here and read this speculation that is unfounded. It is simple economics. The company was built when the window opened for multi-station, multi-market ownership. The problem was those on the sidelines that made up most of the smaller owners allowed large groups to bid for their stations at 12, 13, or 14 times the cash flow, when in reality, after it all shakes down, the value of these very stations is somewhere in the 7 or 8 times cash flow range. They delayed the inevitable because the market grew and increases of 5%, 6%, and more of ad revenue sustained that radio was a 'growth medium.' It is not a straight growth medium--it is a medium that grows some, has flat years and sometimes has a down year. Wall Street HATES that. They don't care about the ability of a strongly run radio operation to deliver a 40 margin (or better) on ad revenue.
What you don't understand here is that this isn't about 'making payroll.' This is about keeping the platform viable while leveraged debt is called in by lenders. Just as there was 'over value' in the housing market, leaving families (borrowers) 'underwater,' the same has happened in radio.
The root problem is radio is NOT A commodity for Wall Street. Radio is entertainment and news and a friend to each community.
The solution--while still leveraged like they are, big groups have to cut expenses, even when they are appeared to have alreadt been cut to the bone--why? Because the revenue market isn't growing and the lenders are at the door wondering where this 'growth medium' is going. So the QC cluster could have the best profit margin in Cumulus, or the one in Rockford could, but the overall platform collapses without some stop gap. Is it a good stop gap? NO! Does it hurt radio? HELL YES! Is there an alternative to this plan? Unfortunately, no.
Put it in perspective--the newspaper business with all their 'brick and mortar' costs, printing presses, large staffs and fixed costs, is in much WORSE shape than radio. Because newspaper is in decline--readership is falling, ad costs rising and there is no long-term answer. Television is fragmented by cable, satellite, DVR, DVD, computer, video games.
When the dust clears, radio will still be there. The most talented will survive and those talented that are displaced by this situation, will live to fight another day. If you want to worry about something, worry about the Democrat push to censor radio by bringing back the 'fairness doctrine.' It will kill AM Radio...regardless of your political view, the fairness doctrine is the most horrible thing looming on the horizon. The reason I say regardless of your political view, is that without the fairness doctrine, right now, you can vote against programming by tuning the dial elsewhere. This is not something we need back in play again.
I know some of these people who are out at Cumulus...they will be back in this business if they want to be. My thoughts and hopes go to them because it sucks to be unemployed in this (or any other business), but good talent and good people win out eventually.
The following comes from the Iowa board. Thanks to "RadioVet 113" for spelling it out for me.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It is hard to sit here and read this speculation that is unfounded. It is simple economics. The company was built when the window opened for multi-station, multi-market ownership. The problem was those on the sidelines that made up most of the smaller owners allowed large groups to bid for their stations at 12, 13, or 14 times the cash flow, when in reality, after it all shakes down, the value of these very stations is somewhere in the 7 or 8 times cash flow range. They delayed the inevitable because the market grew and increases of 5%, 6%, and more of ad revenue sustained that radio was a 'growth medium.' It is not a straight growth medium--it is a medium that grows some, has flat years and sometimes has a down year. Wall Street HATES that. They don't care about the ability of a strongly run radio operation to deliver a 40 margin (or better) on ad revenue.
What you don't understand here is that this isn't about 'making payroll.' This is about keeping the platform viable while leveraged debt is called in by lenders. Just as there was 'over value' in the housing market, leaving families (borrowers) 'underwater,' the same has happened in radio.
The root problem is radio is NOT A commodity for Wall Street. Radio is entertainment and news and a friend to each community.
The solution--while still leveraged like they are, big groups have to cut expenses, even when they are appeared to have alreadt been cut to the bone--why? Because the revenue market isn't growing and the lenders are at the door wondering where this 'growth medium' is going. So the QC cluster could have the best profit margin in Cumulus, or the one in Rockford could, but the overall platform collapses without some stop gap. Is it a good stop gap? NO! Does it hurt radio? HELL YES! Is there an alternative to this plan? Unfortunately, no.
Put it in perspective--the newspaper business with all their 'brick and mortar' costs, printing presses, large staffs and fixed costs, is in much WORSE shape than radio. Because newspaper is in decline--readership is falling, ad costs rising and there is no long-term answer. Television is fragmented by cable, satellite, DVR, DVD, computer, video games.
When the dust clears, radio will still be there. The most talented will survive and those talented that are displaced by this situation, will live to fight another day. If you want to worry about something, worry about the Democrat push to censor radio by bringing back the 'fairness doctrine.' It will kill AM Radio...regardless of your political view, the fairness doctrine is the most horrible thing looming on the horizon. The reason I say regardless of your political view, is that without the fairness doctrine, right now, you can vote against programming by tuning the dial elsewhere. This is not something we need back in play again.
I know some of these people who are out at Cumulus...they will be back in this business if they want to be. My thoughts and hopes go to them because it sucks to be unemployed in this (or any other business), but good talent and good people win out eventually.
J
jharmon
Guest
Cumulus is not the kind of company you want to bet your career on.
Cumulus is not the kind of company you want to work for and buy a home.
Cumulus is not the kind of company you want to work for and have a family.
Cumulus is not the kind of company you want to work for and have a stable life.
Cumulus is not the kind of company you want to work for period.
Cumulus is not the kind of company you want to work for and buy a home.
Cumulus is not the kind of company you want to work for and have a family.
Cumulus is not the kind of company you want to work for and have a stable life.
Cumulus is not the kind of company you want to work for period.
Good Luck!!
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