A bit old now, but one of my many, old employers is about to disappear from the Nasdaq exchange:
“Citadel, which gained a penny to close at 14 cents a share on Thursday, fell below a $1 a share months ago, below the exchange’s continued listing standard.
“Citadel shares hit a 52-week low of 11 cents a share on Feb. 17 and a 52-week high of $2 on March 11, 2008. The issue has lost more than 36 percent of its value in the past month and 99.26 percent over the last five years.”
Mediaweek: Citadel to be Delisted From NYSE
Idiot M.B.A.’s in Las Vegas! They thought they could run radio like a “business.” I hate to break it to them (although Wall Street is doing that less kindly), but if radio could’ve been run as a business, somebody would’ve tried that 30 years ago – when it actually made money.
I have no bad feelings for the local people I worked for. They were great, and I think they went out of their way to insulate us from the corporate monstrosity that is beginning to collapse onto local clusters.
I left the company because I felt there was no upward mobility, except into media sales (and I’d rather jump off a bridge than go into sales). My local boss kept trying to get us on-air. Corporate kept saying “no.”
Is it no wonder radio sounds bland, predictable, and … oh yeah, gets de-listed from Nasdaq?
Maybe the post-bankruptcy radio dial of 2012 will start to sound creative again.
