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SFGate: Salvadore fired by Cumulus

JEREMIAH said:
Would you believe? (think Maxwell Smart) that Citadel's stock (yeah, the KGO owners),,,,today is trading for less than ONE CENT!

What can the future hold?

Jerry Gordon KNUU Las Vegas ...an unhappy Citadel stock holder.
Click to expand...

I see Citadel stock is up to .22, while Cumulus is at .61 as of 1110 a.m.
Meantime, Westwood One {WWON.OB} is at a whopping .05 as of 1115 a.m.

Yes, what CAN the future hold?

Speaking of Cumulus/KNBR being a stakeholder in the Giants, I wonder how
those sports franchises that (co-)own/(co-)operate a radio property are doing.
Doesn't the St. Louis Cardinals fall in that category with 550 KTRS?

BTW, nice to have met you last week in "Lost Wages," NV, Jerry...
--jay
 
Menlo Bill said:
There's a well circulated story about Mr. Salvadore helping himself to a chocolate chip cookie out of a bag in the studio during a mid-eighties early evening shift. He had been warned by the person on duty NOT to eat the cookie. There was more than chocolate chips in that cookie.
Click to expand...

Dousing GMs with cookie ingredients seems to have been a ritual at AOR stations--it happened at a couple of the AORs I worked at in the 70s & 80s. Both times, it was fated to end the same way as Amir Mansbacher's prank, unfortunately. Some kids just can't take a joke.
 
Seems that Mr. Dave Morey, a man of rare integrity and one of the most committed audiophiles I've ever had he pleasure to meet, had seen the writing on the wall a few months ago, and made the choice to depart. Kinda hard to watch what one put so much of self into, disintegrate due to shallow decisions devised solely to suck up to shareholders. Sigh.

Have another cookie, Tony. They say theose K-FOG snacks are not only good for celebrating a job well done, but have many additional medical boons.

Might even inspire you to get back in the game, in which case, we have to talk.
 
JEREMIAH said:
Would you believe? (think Maxwell Smart) that Citadel's stock (yeah, the KGO owners),,,,today is trading for less than ONE CENT!

What can the future hold?

Jerry Gordon KNUU Las Vegas ...an unhappy Citadel stock holder.
Click to expand...

I've been following Citadel and as far as I can see the lowest it's dropped was to 1 cent on March 5 when it went OTC. The lowest it's gone recently was 3 cents, which makes its value triple what it was on March 5. Certainly not as good as it was on May 18 when it reached 13 cents, but still better than when the NYSE dropped it.
 
skyrocker said:
Kinda hard to watch what one put so much of self into, disintegrate due to shallow decisions devised solely to suck up to shareholders. Sigh.
Click to expand...

Considering the drubbing the stock has taken, if you held the stock what would you be expecting? "Sucking up" to stockholders is what business is all about. You make it sound like the stockholders are the enemy. Just try launching a business of any size without investors.
 
Sucking up to stockholders is not what it is all about. In business, happiness is a positive cash flow. If you have areasonable debt load and a good, positive cash flow, the stockholders will suck up to you!
 
SFStatic said:
Sucking up to stockholders is not what it is all about. In business, happiness is a positive cash flow. If you have areasonable debt load and a good, positive cash flow, the stockholders will suck up to you!
Click to expand...

Agreed. An institutional investor is a different animal than an angel investor, or a guy with a lot of money looking to gamble on "the next big thing."
 
BossRadioDJ said:
SFStatic said:
Sucking up to stockholders is not what it is all about. In business, happiness is a positive cash flow. If you have areasonable debt load and a good, positive cash flow, the stockholders will suck up to you!
Click to expand...

Agreed. An institutional investor is a different animal than an angel investor, or a guy with a lot of money looking to gamble on "the next big thing."
Click to expand...

The institutional investor is an employee retirement fund such as CalPERS, or a non-profit organization trying to maximize the return on its endowment, such as Stanford University. And the gambler, well, stocks would be much lower without them to inflate the prices.
 
mort guffman said:
So very sad he was robbed of a retirement party. Fare-Thee-Well, Mr. S.
Click to expand...

Mr. Salvadore's retirement party was held last night at Guilio Tempesta's Ristorante Umbria on Howard St. in San Francisco.

I've met Tony a few times at the KNBR studios, the last time was at Gary Radnich's in-studio 15 year anniversary celebration while on the air.

Mr. Salvadore could not have been more gracious and outgoing towards me.

The fact that he knew who I was because of my 12 years of sports talk calls to the various show hosts was not lost on me.

When KFOG had their 25 year anniversary celebrations Tony came on the air with the Morning Show gang to congratulate them on their longevity, which he had a lot to do with by green-lighting them in the beginning and letting them do their thing.

Hearing him sing on the air that morning was one of KFOG's coolest moments.

Check this out for a bit of serendipitous irony...

http://sfppc.blogspot.com/2008/09/profile-of-kfog-knbr-ksans-tony.html

This morning Gary Radnich started out his show by mentioning Tony's retirement party last night and recognizing Mr. Salvadore's contributions to the stations in the cluster, as well as his own personal relationship with him, which I thought was a real classy move considering that he didn't have to acknowledge his leaving Cumulus at all.

I want to also extend my own best wishes to Tony Salvadore.

Cheers!

BB in B
 
Yes, the Cardinals bought 50% of KTRS as part of the deal when they left KMOX.

Salvadore's departure may also explain why KNBR's been running Fox Sports the last few weekends instead of ESPN radio, no? As much as I can't stand ESPN's East Coast bias, it's still better than some of the uninformed hacks on Fox.


djj said:
JEREMIAH said:
Would you believe? (think Maxwell Smart) that Citadel's stock (yeah, the KGO owners),,,,today is trading for less than ONE CENT!

What can the future hold?

Jerry Gordon KNUU Las Vegas ...an unhappy Citadel stock holder.
Click to expand...

I see Citadel stock is up to .22, while Cumulus is at .61 as of 1110 a.m.
Meantime, Westwood One {WWON.OB} is at a whopping .05 as of 1115 a.m.

Yes, what CAN the future hold?

Speaking of Cumulus/KNBR being a stakeholder in the Giants, I wonder how
those sports franchises that (co-)own/(co-)operate a radio property are doing.
Doesn't the St. Louis Cardinals fall in that category with 550 KTRS?

BTW, nice to have met you last week in "Lost Wages," NV, Jerry...
--jay
Click to expand...
 
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