WBZ cuts Leveille, Cuddy, Dyett, poss. Desmarais
A. Joseph Ross
Sun Jan 4 01:59:28 EST 2009
On 3 Jan 2009 at 10:44, Mark Laurence wrote:
> We're likely to see bankruptcies for the penny-stock, debt-laden
> corporations that gobbled up local radio in the 90's. With lower
> prices and new lending policies, the new owners won't be spending
> half their cash flow on debt service, and they'll have something left
> over for a programming budget.
> Newspapers can be resurrected too with lower sales prices and
> bankruptcies for the high-debt chains. Even with circulation losses,
> 50 million papers a day are sold in the US, over a half million
> between the Globe and the Herald. With less debt and a clean slate,
> there will be room for new publishers, just like there was room in
> the 1980's for USA Today to rise to the top out of nowhere.
Then the coservatives are right: the market will correct everything.
Trouble is, it takes an awfully long time, and it hurts a lot of
people along the way. I wouldn't mind if the people who made bad
judgments and ran up the corporate debt were the only ones hurt, but
they are often the ones who get away with their golden parachutes,
while the masses lose homes and go hungry.
A. Joseph Ross, J.D. 617.367.0468
92 State Street, Suite 700 Fax 617.507.7856
Boston, MA 02109-2004 http://www.attorneyross.com
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