Strangling all business

I want to share a quote from the Harvard Business Review with you:

“The financial sector’s influence on management has become so powerful that a recent survey of Chief Financial Officers showed that 78% would give up economic value and 55% would cancel a project with a positive net value — that is, willingly harm their companies (emphasis added) — to meet Wall Street’s targets and fulfill its desire for ‘smooth’ earnings.”

I don’t know what anyone can do about the massive debt companies like Clear Channel have accrued to become the behemoths in our industry. I think it will eventually cause their collapse.

And while the top executive layer is paid a king’s ransom to work with ever less talent and ever more clutter, thousands of people who love ‘doing radio’ have been, and will continue to be, thrown by the way-side.

This I do know, to quote John Deere: “If we don’t improve our product, somebody else will.”