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Cuts at Citadel?
- Thread starter lamey
- Start date
B
bakerst
Guest
Yes. 
Cuts included the very talented market vet Jim Bednarek at KTUC. Valerie Knight and JR from K-HIT, and a few others. Sales untouched, of course. The top-heavy promo department was also untouched. Word is more cuts to come.
Citadel stock is now under 30 cents a share and still falling, and CEO Farid Suleman still has to make his $11 million + salary, you know.
Citadel stock is now under 30 cents a share and still falling, and CEO Farid Suleman still has to make his $11 million + salary, you know.
A
azcoyote10
Guest
IMHO, people should be more concerned about their own jobs, than worrying about RIF's in other clusters
B
bakerst
Guest
Yep.....
ceo killed the radio star said:
Apparently so.
In a stream listen since the TOH, Kay-Tuck has beenjockless (and commercial-less too).
But as of 9:30, the website still shows Jim. Did Farid lay off the Tucson
cluster's webmaster too?
This just in to what used to be our newsroom, but since the
ND was recently laid off, I guess it's outsourced to the traffic
service (which itself has gone through layoffs)...
As of 12:40pm, references to Jim have been removed from the
Kay-Tuck website, including his listing (as PD) on the "contact
us" page.
Did Farid fly in from HQ to personally update the website?
I wonder if he flew coach...? :
ND was recently laid off, I guess it's outsourced to the traffic
service (which itself has gone through layoffs)...
As of 12:40pm, references to Jim have been removed from the
Kay-Tuck website, including his listing (as PD) on the "contact
us" page.
Did Farid fly in from HQ to personally update the website?
I wonder if he flew coach...? :
Hold on just a sec...
Did I read correctly that Citadel let go of long time radio vet Jim Bednarek on KTUC???
From my understanding he is/was that station's morning show, PD, MD, and everything else in between.
Did I read correctly that Citadel let go of long time radio vet Jim Bednarek on KTUC???
From my understanding he is/was that station's morning show, PD, MD, and everything else in between.
radiotimesjock said:
OK, so maybe the studio trash cans never get emptied now??
Northwest Bobby said:
PS, Jim is actually one of few NICE guys left in Tucson too.....
azcoyote10 said:
Wow. Written like a manager. Isn't the term "RIF" straight out of the Bean Counters Dictionary?
I'm concerned about all of our jobs, and the state of the industry in general. Just call me an altruist. We used to be in this together.
Latest word from Citadel is that at least some of the AE's were force-fed commission cuts. And someone in the north wing of the building limped away with a 50% pay cut just to keep his gig. It's Farid-O-Nomics!
And yes, the times I've worked with Jim Bednarek he was the nicest guy. A real pro. I wish him well.
Pardon me, but what is RIF?
W
Walking On
Guest
Reduction In Force, if you are serious. Most industries have seen them. Good times...
A
azcoyote10
Guest
RIF = reduction in force, i.e. layoffs
A
azcoyote10
Guest
Prediction: Farid will be RIFed shortly after next Thursday's earnings conference call, or no later than end of the year.
Thanks! I am learning. Who or what is Farid?
A
azcoyote10
Guest
Farid = Farid Suleman, Citadel CEO (legend in his own mind)
azcoyote10 said:
One can only hope. He's the worst of all the clueless radio CEO weasels.
Even a cursory glance at the transcript of Citadel's 2nd quarter 2008 earnings call reveals a man who is treading water like mad:
http://seekingalpha.com/article/898...ation-q2-2008-earnings-call-transcript?page=3
He's been a CEO, CFO and treasurer for several broadcast companies. The Citadel website backdates his career no further than 1994, when he was EVP and CFO of Westwood One.
Sources:
http://people.forbes.com/profile/farid-suleman/19697)
http://www.citadelbroadcasting.com/citadel_broadcasting.aspx?id=2583
He's a career Bean Counter. One for us...nine-hundred-ten for him. Farid is often derisively referred to as "Fa-Greed."
He managed to get the company (read: Citadel employees) to pay his income taxes! This wouldn't be such a big deal if he hadn't helped drive the company's share price to under 30 cents, and has no idea how to turn it around other than to fire people.
Farid has to go! I'm sure there's a car dealership or pay-as-you-go cell phone company somewhere that can benefit from his so-called talents.
Tough times for radio all around. I hope those cut and/or lost income will land on their feet. Too bad it's hard to do in Tucson. There's so much great talent here and so few companies that know what they have(had). I'm keeping my fingers crossed for the new year. Although, the holidays seem to be the time when people get cut. Better times have to be ahead.....may take awhile though. -sigh-
The Prodguy abides.
The Prodguy abides.
Cygnus said:
You said it well, its sad that this is happening and not just here, it's everywhere. It's been locked up here for months, I've been out a year - when you don't want to really leave the market its important to take whatever you can to survive. I know quite a few talented people that have just said goodbye to radio all together.
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