Recently, All Access featured an interview with Alpha Broadcasting President and former Citadel CEO Larry Wilson.
On the state of Citadel, Wilson offered, ““Citadel is virtually selling for pennies; it has been devastated by ‘spreadsheet management.’ Why would Wall Street pay attention to Citadel stock when there's $2.1 billion debt on a company worth $800 million?””
$2,100,000,000 owed on a company worth $800,000,000. To make that a little easier to wrap your head around, it would be like buying a house for $210,000 and seeing its value slump to $80,000 but still owing $210,000.
Commenting on Citadel CEO Farid Suleman, Wilson fired at point blank range, ““At Citadel, we had a mission statement and the first line of it read: ‘People are our most important asset.’ That wasn't just talk; we walked the walk. When we sold out and Farid Suleman came in ... and I heard this from several different people ... he ordered all the mission statements that we put up in our offices taken down. He doesn't get it and he never will.””
No love lost there.
Possessing a formidable ego and being a millionaire attorney, Wilson's no Mother Teresa. He just fired a slew of people at his newly acquired cluster in Portland, Orgeon. He does however, have a track record for successfully running a large radio group... and a good sense of timing for unloading Citadel before the market crashed.
On the state of Citadel, Wilson offered, ““Citadel is virtually selling for pennies; it has been devastated by ‘spreadsheet management.’ Why would Wall Street pay attention to Citadel stock when there's $2.1 billion debt on a company worth $800 million?””
$2,100,000,000 owed on a company worth $800,000,000. To make that a little easier to wrap your head around, it would be like buying a house for $210,000 and seeing its value slump to $80,000 but still owing $210,000.
Commenting on Citadel CEO Farid Suleman, Wilson fired at point blank range, ““At Citadel, we had a mission statement and the first line of it read: ‘People are our most important asset.’ That wasn't just talk; we walked the walk. When we sold out and Farid Suleman came in ... and I heard this from several different people ... he ordered all the mission statements that we put up in our offices taken down. He doesn't get it and he never will.””
No love lost there.
Possessing a formidable ego and being a millionaire attorney, Wilson's no Mother Teresa. He just fired a slew of people at his newly acquired cluster in Portland, Orgeon. He does however, have a track record for successfully running a large radio group... and a good sense of timing for unloading Citadel before the market crashed.