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New Contracts For Citadel's Top Executives

Posted: Thu Jun 10, 2010 6:30 am
by pbergin
I posted this as a comment following the story, but here it is again:

Isn't it appropriate in this day and age, that the top tier of a company's management... the selfsame group that put the company into bankruptcy... wind up with outrageous, guaranteed compensation packages that will ultimately enable them to do the very same thing all over again?

How many careers were destroyed, how many families broken, how many investors burned, how many, formally successful, radio stations ruined by these idiots? And yet they survive what should have been the most humiliating moment in their professional lives... the need to take their company into bankruptcy due to their own breathtaking malfeasance... to enrich themselves by millions of dollars, and go on to destroy yet other careers, families and investors.

Shame on them, and shame on this abhorrent industry!

Re: New Contracts For Citadel's Top Executives

Posted: Thu Jun 10, 2010 1:57 pm
by skittle
Yahoo just did a story about all the "perks" you get as an executive. Its completely nuts. The company says that they do this to keep these people here, but when you look at how much money they spend its ridiculous. Citadel is in this category as well....c'mon guys.

Re: New Contracts For Citadel's Top Executives

Posted: Fri Jun 11, 2010 1:00 am
by thelegend
As long as the criminals run the jailhouse. The criminals will take care of each other.

Re: New Contracts For Citadel's Top Executives

Posted: Fri Jun 11, 2010 12:29 pm
by davetabbs
I wouldn't go so far as to calling this industry "abhorrent" I think that's a little much. Radio itself is like every other industry. You have a company that makes the right moves and some of them get to the top. The key is what you do once you're up there. I think that most places are beginning to change and they are seeing how successful companies (GOOGLE, APPLE) treat their employees.

Re: New Contracts For Citadel's Top Executives

Posted: Sat Jun 12, 2010 9:46 am
by pbergin
I call it abhorrent because I've seen the damage to friends who've invested their lives into building a career, only to see it yanked out from underneath them by slime buckets like the ones referred to in the article. They and their families pay a terrible price for an unfortunate career choice.

I've been fortunate enough to have been able to leave the industry after investing 35 of my own years, and move into what I refer to as the "real world." In this world talented, productive people are valued rather than used and thrown away. In this world capable professionals are not easily, or cheaply replaced. In the radio world they are essentially expendable. I've often told would-be radio wannabes that the chair in the studio is worth more to the employer than the person who sits on it.

Kudos to anyone who can play the game in radio, and play it well enough to survive. And, yes, there still may be some owner/operators out there who might be regarded as honorable. But they are few and far between.