Citadel Braces for Bankruptcy

The stock market has already spoken.

Citadel stock is worth four cents -- and less than a dollar for long enough to be booted off the New York Stock Exchange.

Because the market has already priced in for the worst case scenario, the situation for equity holders is no doubt a lost cause.

The market is saying Citadel stock is worthless.

The NYSE gave up on them.

Now Citadel CEO Farid "Fagreed" Suleman has departed from his earlier optimism as his mismanaged company filed an 8-K form with the SEC quietly on Monday in effect admitting the risk of violating its debt covenants.

It sounds like Fagreed knows&hellip

Innovation Is Radio’s Answer

Daily, we hear about the usual solutions to the radio industry's problems.

Cutting expenses.

Staying positive (or as I call it, drinking the Kool-Aid).

Waiting for the economic downturn to end.

Unfortunately, you never hear the word innovate as it pertains to radio.

Of course, I am speaking of the people who control the business. The CEOs, their lemmings and the industry lobby and trade groups that they prop up.

You may not know that when Cumulus shut down its interactive department, John Dickey moved like lightning to squash innovation. He wasn't the only group executive to do so. That's how&hellip

Innovation Is Radio’s Answer

Daily, we hear about the usual solutions to the radio industry's problems.

Cutting expenses.

Staying positive (or as I call it, drinking the Kool-Aid).

Waiting for the economic downturn to end.

Unfortunately, you never hear the word innovate as it pertains to radio.

Of course, I am speaking of the people who control the business. The CEOs, their lemmings and the industry lobby and trade groups that they prop up.

You may not know that when Cumulus shut down its interactive department, John Dickey moved like lightning to squash innovation. He wasn't the only group executive to do so. That's how&hellip

Cumulus Is Radio’s AIG

Okay... okay.

AIG took government aid and then paid $165 million to a handful of executives to retain them -- eleven left anyway. Great use of taxpayer money as the government props up the financial sector.

But Cumulus (and other consolidators) took their shareholder's money, delivered sub-par results, ran the stock into the ground ($1.02 as it closed yesterday) and -- continues to pay its top executives for failing.

If that's not a great example of radio's AIG, then I have another one for you.

Citadel.

Or Clear Channel, Regent, Radio One, Entercom -- the list is seemingly endless.

Morningstar, the&hellip

Cumulus Is Radio’s AIG

Okay... okay.

AIG took government aid and then paid $165 million to a handful of executives to retain them -- eleven left anyway. Great use of taxpayer money as the government props up the financial sector.

But Cumulus (and other consolidators) took their shareholder's money, delivered sub-par results, ran the stock into the ground ($1.02 as it closed yesterday) and -- continues to pay its top executives for failing.

If that's not a great example of radio's AIG, then I have another one for you.

Citadel.

Or Clear Channel, Regent, Radio One, Entercom -- the list is seemingly endless.

Morningstar, the&hellip