There is increasing evidence that Bain Capital in cahoots with Lee Capital Partners continues to pillage what was once a great radio company driving it deep into debt as it collects huge fees and makes unbelievable profits even as employees get sacrificed.
We’ve all known something is fishy but the details I am about to share are staggering.
The situation is getting worse even as I write this which means that you will be shocked and perhaps amazed at how deeply Clear Channel will have to further reduce its work force to keep paying its investment banks.
Bain is not creating jobs.
It is robbing Clear Channel blind.
And ready to layoff large numbers of people, as you will soon read.
Here’s how bad things are and how Clear Channel employees are going to have to pay the price again – soon.
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1. What Clear Channel will lose this year – a whopping number and nowhere near the $1 billion it used to make.
2. What owner/investment banks Lee and Bain make in fees every year. Go ahead and guess. You’re too low! I’ve not only got the accurate number but how much they made in fees in the first three months of 2012. Plus, when this sweet arrangement ends. (This is why you’re being laid off at Clear Channel!)
3. How Lee and Bain came up with the money to do the original Clear Channel acquisition and how they plan on paying for it.
4. The number of layoffs at Clear Channel since Lee & Bain took over – I’ve been looking for an accurate number and I’ve got it for you.
5. Why Clear Channel is on the default list – that’s right, default is expected and only 10% of the money they borrowed is likely to be recovered – if that. This is incredible!
6. Why shell-shocked employees don’t want to believe the massive layoffs that are yet to come. As the Boy Scouts say “be prepared”.
The answers begin here.
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Keep January 30-31, 2013 open for JD4 – my next media conference.
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