Who does this sound like?
There was an item in The Week that caught my attention recently. I was reminded of it yesterday when I saw the news on AllAccess that KIIS had fired their veteran traffic reporter and pilot, Commander Chuck Street.
If any city loves — needs — its traffic information, it’s Los Angeles, right?
Let’s go back to the item in The Week:
“The firm’s modus operandi (is) to buy a struggling business, reduce the workforce to the absolute minimum, increase its short-term earnings enough to borrow money in the firm’s name, and then pay out huge dividends to the business’s new shareholders — (its) wealthy investors.”
“22% of the businesses (this firm) restructured closed or declared bankruptcy.”
For those of us who are math-challenged, that’s more than one in every five.
That’s a lot of disrupted lives.
As you’ve probably already guessed, the firm is Bain Capital which now owns Clear Channel.
Does firing a 28-year veteran, the station’s most recognizable voice, providing a service that is probably the most important on drive-time radio in America’s 2nd-largest city make KIIS better?
You tell me.