You know, markets are self-correcting to some extent, maybe
not enough that we don't have to inspect meat or test drugs or set
safety standards for airplanes, but maybe enough that dangerous
products, unappealing products and frankly annoying things like the lies
and propaganda and bigotry that Clear Channel produces and airs on
about 600 radio stations in the US aren't doing well in the market any
more. Perhaps it's that people are getting tired of the slander and
quasi-treasonous, excremental and septic opinions of Rush Limbaugh, or
perhaps it's the effect the boycotts, the petitions and various activist
campaigns are having on investors. Booya!
Clear Channel's latest earning report shows even worse declines than they did a year ago. Sponsors are being deluged with angry invective and over 2,600 companies have pulled their ads. Say hello to the correction.
Is there a point on the "Earnings" curve where they get to become "All-MurKKKan Martyrs"?
ReplyDeleteIt should come as no surprise to anyone that Bain Capital is one of two major players in the entity's ownership.
Martyrdom is some kind of last refuge and no doubt these scoundrels will avail themselves of it if they think it will do them some good -- probably claiming victory at the same time.
ReplyDeleteIt's sort of comforting to think that a public effort can actually hurt the people with so much power to create public opinion, but all the defeatist doomsday howling while a recovery is obviously happening can't be helping them either.
We still have to ask the question of how free is a free press if one corporation owns it.