WBZ cuts Leveille, Cuddy, Dyett, poss. Desmarais

A. Joseph Ross joe@attorneyross.com
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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