Massive firings at Clear Channel/Atlanta today...

[Smokescreen]

Seems money was going into more than just the company's pockets in the Hispanic division at the Building of Death. Cops are in the hallways! Yikes!

 

[Dano_Murf]

Not sure this is true, but if so, do tell...

 

[Garrett]

And you know this as fact because?

 

[radioriot7]

Not that I believe for a second this is true - but really who else is there to fire? I mean honestly, there are like 50 people doing the job of what should be - 150.

 

[Frasier]

Not that I believe for a second this is true - but really who else is there to fire? I mean honestly, there are like 50 people doing the job of what should be - 150.

Precisely. For a minute, I thought someone just bumped an old thread.

 

[SalesWeasel]

Ricardo, the Viva sales manager (I think) was fired...who else?

 

[RoddyFreeman]

Ricardo and several others (production, etc.).

 

[sidechick1]

Yeah, it was mostly sales staffers that got the axe, I think.... Big investigation and Ricardo left in hand cuffs. Sad...

 

[Chief Rainmaker]

Seems money was going into more than just the company's pockets in the Hispanic division at the Building of Death. Cops are in the hallways! Yikes!

WAY TO GO JOHN HOGAN. ANOTHER UGLY BLACK EYE FOR CLEAR CHANNEL. I can't believe this [EDIT] can keep his job.




[namecalling]

 

[radiomayor2]

i can't believe it either......CC's Hispanic operations in ATL were supposed to be the shopiece for that format/division.......

the first thing the new partners should do is tell the mays' that Hogan goes before the deal closes....

 

[livingfruitvirus]

HOOOOOOOGAAAAAAAAAN. 30 days in the cooler!

 

[content]

How do you blame Hogan for allegations that certain employees were caught in some sort of misconduct?

If you have a beef with Mr. Hogan, this is not the thread.

 

[davideduardo]

i can't believe it either......CC's Hispanic operations in ATL were supposed to be the shopiece for that format/division.......

the first thing the new partners should do is tell the mays' that Hogan goes before the deal closes....

How is Hogan responsible for some sellers in Atlanta???

 

[jpcgonebig]

This is hilarious.....some of you people act like Clear Channel and radio at that...is the only industry to downsize of this magnitude. This is a BUSINESS! You dont see message boards up for the law firm industry and how the BIG law firms are downsizing, or a board directed towards factory workers......

this happens E V E R Y W H E R E, in every type of job. Its a business...nothing more. As much as me, the lowely jock, dosen't like to see this happen to the working folk, its merely a fact of life. I have been the victim of downsizing, politics and mere just losing my job to my own stupidity....but I get over it, and take it for what it is...the biz! Thank you...I just had to vent a bit Please, no bashing on me, I just voiced my opinion just like you just did.

 

[cleavo]

Its a business...nothing more.

I don't think I'd be alone in the idea that regardless of what is has become, it hasn't always been and maybe should never be "just a business." We're not out here on the production line making widgets, and I believe that it's that type of thinking that hurts all of radio (or TV, or even Movies, for that matter - check out the Disney company over the last few decades). True, we have a product - but contrary to popular belief, that product is not "air" - it's not even really the 30 or 60 second spots themselves (IMHO). It's an entertainment product, which has the capacity and capability, if programmed and delivered properly, to mean more, to BE more, to each individual listener, on a very intimate level, than any other thing-a-mah-doo-hickey they can buy.

I know, I know - we don't generate revenue from listeners (XM and Sirrus notwithstanding), but I still believe that only when the listener product is delivered successfully does the "air" product have any real value (not that I haven't seen incredible salespeople sell it regardless).

This probably sounds old-fashioned, and probably is. Maybe I'm just a pie-eyed idealist. Maybe I'm just tired. I know something changed somewhere along the line, and I know that "this is just a business like any other"-type thinking didn't help. IMHO.

Okay, Flame on.

 

[OnTheAir123]

You said it Cleavo!!

 

[content]

Interesting post Cleavo.

It is a business, but a business trusted to serve the public by use of the public airwaves, so perhaps there is more to it than "Just Business"
Also, if broadcast radio doesn't invest more in the product development side of the business, they will make theimselves more vulnerable to all of the competing technologies delivering media content. So, in that sense, we see a lot of bad business decisions every time they cut a PD to save money or fire a talent to save money with a voice tracker.

 

[Chief Rainmaker]

How do you blame Hogan for allegations that certain employees were caught in some sort of misconduct?

If you have a beef with Mr. Hogan, this is not the thread.

Listen...Buddy...think about this: If those people who allegedly skimmed or got kick backs actually were in the wrong, then YES - it was their own poor decisions. They should be fired. If they were simply part of a downsizing...which in terms of Viva makes NO Sense....but if they were...then so be it. Georgia is a right to work state. They could have been simply sent on their way...My point about Hogan is this: Go back and look at the CC stock price over the past 5 yrs, the declining revenue, the so called "Less is More" vision...less inventory...shorter units (by the way...that LIM should have been the compensation program: You'll make less but pretend it's more). Less is More and all the components that go along with it were never "Beta" tested. They claim it was, but in fact it was ALL THEORY. The inventory rationale/theory was taken from the airline industry...the stockholders are pissed off and look ready to potential vote against the company going private. But here's the bigger picture. Radio is not growing. Only about 1% last year. The analysts don’t like radio stocks. And although CC is one company, it's big enough to influence the industry and the analysts. Right now, with every foolish move these guys make...it hurts the entire industry. There are smaller companies that have actually outpaced the industry; however, their stock prices remain low. Get the picture? The best way to get a company like CC pointed back in the right direction: Replace the top leaders. As these negative kind of events continue to "fall out"...it shows bad for CC...it shows bad for everyone in the radio industry.

 

[RoddyFreeman]

Listen...Buddy...think about this: If those people who allegedly skimmed or got kick backs actually were in the wrong, then YES - it was their own poor decisions. They should be fired. If they were simply part of a downsizing...which in terms of Viva makes NO Sense....but if they were...then so be it.

It was the former.

 

[davideduardo]

Listen...Buddy...think about this: If those people who allegedly skimmed or got kick backs actually were in the wrong, then YES - it was their own poor decisions. They should be fired. If they were simply part of a downsizing...which in terms of Viva makes NO Sense....but if they were...then so be it.

Apparently the new PD discovered irregularities, and most of the staff of Viva and Patrón were let go. One source says criminal charges were filed against several people. This was not a downsizing in any form.

My point about Hogan is this: Go back and look at the CC stock price over the past 5 yrs,

It depends. If you look at post-9/11, the stock is up over 10/01. If you look before the dot-bom, the crash of early 2001 and 9/11, nearly all stocks are below the 2000 levels, with the NASDAQ still at about half the 2000 level.

the declining revenue,

The revenue is up so much that Clear has been paying dividends since 2003, and currently has a higher yield than the DJ composite, in fact. Since 1995 there has only been one unprofritable year, and that was due to accounting charges, not operations.

the so called "Less is More" vision...less inventory...shorter units (by the way...that LIM should have been the compensation program: You'll make less but pretend it's more). Less is More and all the components that go along with it were never "Beta" tested.

Complaints? There are no complaints. The idea was to move advertisers to shorter units (a 30" spor is typically 70% of the cost of a 60") just like is standard in the rest of the world, and make the same or more money on less spots... listeners benefit and MediaMonitor has shown a significant reduction in commercial time in all markets as radio moves to this mode.

They claim it was, but in fact it was ALL THEORY.

What is theory about selling four 30's at the same total rate as three 60's and cutting clutter by one minute?

Nearly every country in the world uses 30's or less. The US is the only major nation using predominantly 60's.

The inventory rationale/theory was taken from the airline industry...

No, it is the exact opposite. Airlines fill every seat, many at chap prices. LIM intends to reduce the number of seats and charge more for the total passenger load. You have it totally backwards.

the stockholders are pissed off and look ready to potential vote against the company going private.

Actually, and who is bothering with facts here... only one Mutual Fund has objected, Fidelity. There are no other protests as of this time. And all they want is more money per share.

But here's the bigger picture. Radio is not growing. Only about 1% last year.

2006 over 2005 was 1%. But radio has increased in every year but 2 of the last 46, and most of the last 15 years have increased significantly above the rate of inflation. You are insinuating that 2006 was typical. It is not. It was a bad year for all media except the web.

The analysts don’t like radio stocks.

They like some of them, but the industry fell under the pall of Viacom and AOL Time Warner and the cable scandals. The whole sector is depressed, but is improving now.