Effective radio management is more than just doing a great job on the programming side. I worked for Jacor way back in the 80's when they were doing some of the best radio in the industry. I also had a front row seat when Jacor's "Power Pig" took down the "invincible" Q-105 in the Tampa Bay Market's most legendary radio war.
It was exciting, fun, no holds barred and one hell of a ride. When Jacor first took over their first move was to put beer in the vending machines. (A lot of us spent Friday afternoon, "happy hour" in the employee lounge sucking down 50 cent brewskies). It was a great place to work, and the numbers were enormous. The result? Jacor went broke. I think it happened twice.
The bottom line is that radio, like everything else in life, functions best when it strives for Aristotle's "Golden Mean" of programming savvy and bean counting accounting skill.
I'm not dissing the U.S. stations, because I love groups that considers its people assetts instead of liabilities, but when you get down to it, it doesn't make any difference how great a place is to work if outgo exceeds income.