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More Cuts at Clear Channel

T

truthsayer

Guest
John Hogan is calling for deep cuts in the Clear Channel budget a working budget not next years. I mentioned some time ago that I believed Clear Channel was in deep trouble and that I believed they were let's say not wanting to keep all of the empire they built even in Houston. This next round of cuts will dry up the productivity and slice again at morale. Lay offs or not employees will not be loyal. When you screw around with sales and their paystubs you really are nailing the nail into your company's coffin. I look to see some quik sell offs very soon!




Just my thought.
 
truthsayer said:
John Hogan is calling for deep cuts in the Clear Channel budget a working budget not next years. I mentioned some time ago that I believed Clear Channel was in deep trouble and that I believed they were let's say not wanting to keep all of the empire they built even in Houston. This next round of cuts will dry up the productivity and slice again at morale. Lay offs or not employees will not be loyal. When you screw around with sales and their paystubs you really are nailing the nail into your company's coffin. I look to see some quik sell offs very soon!




Just my thought.
Click to expand...

I'm waiting to see the effect this will have. The building is really short-staffed as it is.

There are quite a few positions to be filled... now, CC's hands are tied. No hiring... no nothing.

Just another blow.

Ps: Don't be rude JohnQDoe.
 
They're in the process of taking the company private (as in no longer being traded on the Stock Exchange). That means that they will be even cheaper than they were before. The problem is, you can't squeeze blood from a turnip. A lot of the people there are EXTREMELY overworked. I don't know how they can continue to cut staff?!
 
The beatings will continue until the morale improves!!!
 
snoman said:
They're in the process of taking the company private (as in no longer being traded on the Stock Exchange). That means that they will be even cheaper than they were before.
Click to expand...

I'm not so sure about that. I'm not saying you're wrong, I'm just wondering if maybe the decision makers will have more freedom to be the kind of company they were (the way they got to be what they are) when they are not accountable to stockholders. Could being a privately held company actually free them to be a more agressive company? Just wondering out loud...
 
It's the economy, stupid.

Expect deep cuts, hiring freezes and more layoff at other radio and non-media companies. Although the Democrats and Republicans don't want to say it, we're in a recession and sending us checks are not going to fix it.
 
Read Between the Lines

If you read between the lines of the Hogan memo, here's what you'll see:

1. The FCC approved the sale to the private equity firms.

2. The stock price is in the toilet, and we'd like to pump up the price so the PE firms don't try to renegotiate the deal because we ain't worth what they thought we were.

3. We want to maximize profits between now and the closing dates, and don't give a rat's ass about the long term viability of individual stations, clusters, or markets.

4. The new guys are probably going to try to cut expenses anyway, so why wait when we can line our own pockets in the meantime.

It will get worse before it gets better.
 
It's because they are operating and debt and that debt assumption has already been defined and limited in the investor's due diligence report?
It's because they had to make good on too many package deals that went away with the billboards?
It's because they bought too much in their growth explosion and summary monopolization of the music entertainment business?
It's because we bought trillions more consumer goods that we manufactured last year?
It's because the employees refused to submit their government checks to their GM?

There, I added some more straws to grasp. Whatever happens, they're tanking and something different will finally be on the horizon.
 
InTIMadate said:
It's the economy, stupid.

Expect deep cuts, hiring freezes and more layoff at other radio and non-media companies. Although the Democrats and Republicans don't want to say it, we're in a recession and sending us checks are not going to fix it.
Click to expand...

Funny how you're quick to say it's the economy, yet there are some radio companies that are doing better than ever!
 
Things at Clear Channel will only get worse in the short term. Because 1st qtr numbers are in the dumper and pacing into the next qtr is about as bad, Hogan is trying to save 'the going private deal'. The value of the company continues to slide and is seriously jepardizing the deal. I see more panic in their future.
 
Why is there so much hate for CC on this board. Didn't your parents teach you that "if you can't say something nice don't say anything at all"

Wishing bad will on a person or comapny is down right repulsive and shameful.

I happen to work at CC and have to say, it's the best environment that I've ever worked in.
 
I think they should immediately cut the expenses associated with HD radio, because that market segment is miniscule compared with disproportionate funding it requires. If I were a stockholder, I would be furious about the squandeirng of corporate resources for little or no return - nor prospects of return in the future.
 
Easy Money

At least you admit to working for CC, that is a plus. Aren';t you worried about the stock price tanking and revenues going down the crapper?
 
They've taught the Prophet system at CC how to enter comments on this site and its name is Easy Money.
 
Kendromedia said:
It's because they are operating and debt and that debt assumption has already been defined and limited in the investor's due diligence report?
Click to expand...

They have big cash flow, and not all that much debt. All companies expand using borrowed money... the debt to equity ratio of Clear is about the same as that of GE, one of the world's best companies.

[/quote]It's because they had to make good on too many package deals that went away with the billboards?[/quote]

They still have the billboards. That was not spun off in the US.

It's because they bought too much in their growth explosion and summary monopolization of the music entertainment business?
Click to expand...

Live Nation went away two years ago, with each Clear shareholder receiving a piece of a LN share for every CCU share.
 
EASY MONEY
The reason so many posts here are anti-CC is because the "empire" you work for has pretty well laid waste an industry that once offered listeners, imagination, innovation, information, oh, and entertainment. The environment you so much enjoy must be in that cajun management row and not down in the sales pit or jock lounge. Watch out another commission cut is no doubt coming.
 
SPOTS FOR DOTS said:
EASY MONEY
The reason so many posts here are anti-CC is because the "empire" you work for has pretty well laid waste an industry that once offered listeners, imagination, innovation, information, oh, and entertainment. The environment you so much enjoy must be in that cajun management row and not down in the sales pit or jock lounge. Watch out another commission cut is no doubt coming.
Click to expand...

Clear Channel is changing for better!! If you are refering to Rock 101, well there you have Mega 101 is dominant is spanish formats here in hoston!!!
I myself dont like Mega but it makes no difference if I do or not. They have better ratings than all spanish formats here in houston, even Estereo Latino 102.9.
 
Spot Man I'm sorry you feel that CC has destroyed radio. I've only been doing this for 5 years, and prefer to deal w/ what's going on today. Worrying about "what was" is a waste of time and energy.

In the world I work in TODAY, CC provides a great work environment on each of the 3 floors we occupy. Hell, at least thats my opinion. We dominate in ratings and we dominate in revenues. What else is important?

I'm sorry I don't have 20 years of frustration inside of me.
 
Check back with us when the entire Houston cluster is divested in the next 12-18 months and let us know where you land. We're not frustrated nor have the need to smake a fatty. You are the one who needs to come out from the haze. Report back how your stock options and 401k do with CC in the next few years for you and how your commissions will be reduced to minimum wage in the next 3-6 months. That is when you will realize that being "pretty" doesn't cut it and you'll change your name to "Hard to Earn Money."
 
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