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Shane Co. Files for Chapter 11

F

FatRadioGuy

Guest
Does this mean Tom Shane won't be telling us about No Middle Men anymore? I'd hate to be one of the people who depended on that account, had an okay Christmas and is now looking at a real big chargeback.
 
FatRadioGuy said:
Does this mean Tom Shane won't be telling us about No Middle Men anymore? I'd hate to be one of the people who depended on that account, had an okay Christmas and is now looking at a real big chargeback.
Click to expand...

"...now, WE have a friend in the bankruptcy business....The Shane Company!"
 
For the longest time, I thought Tom Shane was a local guy.

BTW--Anyone Radio Graffiti on the X with Marty Riemer? People could call up and say little live things. I called up and said that I was the illegitimate child of Tom Shane and George Zimmer.
 
I think Marty got the idea for the graffiti segment from Alan Colmes (yes, THAT Alan Colmes). Back around 1992-93, when Colmes' show was carried on KLAY, he had a Radio Graffiti segment on his show everyday. I called in a few times. People could say anything they wanted, as long as it was "one sentence, one sentence only as we take the nation's pulse with Radio Graffiti". I heard Marty's version of it a few times, too.
 
FatRadioGuy said:
Does this mean Tom Shane won't be telling us about No Middle Men anymore? I'd hate to be one of the people who depended on that account, had an okay Christmas and is now looking at a real big chargeback.
Click to expand...

Shane filed for Chapter 11 - not Chapter 7. They say they expect to be out of bankruptcy by the end of the year. So you can expect to still hear Tom Shane on the radio. And I don't think whoever has their account is really THAT worried right now.
 
SRP - You really think such a large account as Shane goes off the air and the account exec isn't really "that worried?"

Really? That's REALLY what you think?
 
May be funny for some, but not good news. Shane Company was a believer in local radio. The company will reorganize, but advertising dollars owed over the last 90-120 days will be written off in the reorganization. That means salespeople lose all of that money unless they are on a guarantee. Ugly. The stations also has to write off the revenue. That is a ton of dollars in this market. Ugly

Shane Company will try and come back, but will be cash up front coming out of a bankruptcy and spending will probably go down as a result.
Ugly

I have seen companies make it back, but it is hard. Anyone who finds this humorous has no heart. It is not good for radio, not good for salespeople involved and not good for Tom Shane, a strong believer in our medium.

Sorry to sound preachy, but I have strong feelings about this one./
 
djdan said:
May be funny for some, but not good news. Shane Company was a believer in local radio. The company will reorganize, but advertising dollars owed over the last 90-120 days will be written off in the reorganization. That means salespeople lose all of that money unless they are on a guarantee. Ugly. The stations also has to write off the revenue. That is a ton of dollars in this market. Ugly

Shane Company will try and come back, but will be cash up front coming out of a bankruptcy and spending will probably go down as a result.
Ugly

I have seen companies make it back, but it is hard. Anyone who finds this humorous has no heart. It is not good for radio, not good for salespeople involved and not good for Tom Shane, a strong believer in our medium.

Sorry to sound preachy, but I have strong feelings about this one./
Click to expand...

Well, it's not just the Shane Co. djdan, it's A LOT of companies reorganizing or going up.

Radio sales are not going to be good this year. Sales of ANY kind are not going to be good this year. And that affects EVERYBODY down the line (myself included.) But black humor is sometimes the only way we ourselves can keep from going apes--- over this economy. I don't think anybody sincerely wishes anybody any ill will over this. It just happens in times like these and it could still happen to any one of us. It's just denial, badly disguising as confidence.

I don't know Tom Shane personally, but even I noticed something missing when I didn't hear his spots almost everywhere on every station for the last few weeks.....

But I think this would be a great time for radio to get SERIOUS about the listeners because THEY will be NEEDED as much as sales when the economy comes back.......
 
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