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artmorris
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Posted: Fri Jun 29th, 2007 11:14 am |
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Well, it's my understanding that July first is the day that Goodradio takes over the Shepherd group.
Wonder what the stations will look like a year from now?
You know me, I love change. I love the challenge and opportunity of building something new. The pallette is clean, and you can make it anything you want it to be. Actually, it sounds like a lot of fun.
Art
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Kent Clark
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| Joined: | Sun Apr 8th, 2007 |
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Posted: Sun Jul 1st, 2007 01:17 am |
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I've heard through the grapevine that GoodRadio informed the entire staff at the Shepherd Group that their jobs were open, and they would have to reapply for their jobs. I don't know if that's supposed to apply to just a few jobs, or if it's from the top-down. I suppose these grapevine sources should be taken with a grain of salt since they get twisted and turned each time they're passed down, and the reapplying and reinterviewing for your old job, while not the normal way of doing business, isn't necessarily uncommon. I seem to remember Salem did that when they took over KLTY in Dallas from Sunburst, and they had no intention of hiring anyone other than the existing KLTY airstaff. So, I'm not sure what to make of everything I've heard. I guess we'll find out just how good GoodRadio is in a few hours.
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Buddy Dornster
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Posted: Sun Jul 1st, 2007 12:59 pm |
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 This is actually a faily common business practice. When taking over a station, don't take on the liabilities of the previous owner. IE, were there any workmans comp claims, etc., that would intertret into higher premiums, delete.
Let the entire staff go, then hire them back into the new company; clean slate on all employee claims.
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ThePrototype
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| Joined: | Tue Jul 3rd, 2007 |
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Posted: Tue Jul 3rd, 2007 08:40 pm |
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Its my understanding that anywhere from 8 to as many as 16 people were not retained at various Shepard Properties when GoodRadio got the baton this past weekend..and some of those people are having issues in getting severance and vacation pay, since some of the employees who were cut loose were told Shepard was to take care of the tab...others are finding their unemployment claims being shipped to West Palm Beach, where Dean Goodman is HQd.
I'm also told no interviews took place for those who were supposedly ''reapplying for their jobs''..West Palm looked at quarterly numbers and decided who would stay and who would not be retained according to salary numbers..
Word from some sources has come down suggesting an arguement over a new sales compensation system which was announced on Friday, just hours before the takeover itself, between the GMs at Farmington and Festus, that nearly ended with punches being thrown. Seems that sales bonuses will not be paid unless all the salespeople in a cluster hit their respective goals for that month...if one or two fail, then even those who hit goal will have their bonuses disappear. Word is from some sources that some salespeople could be out several thousand dollars if this holds..
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Micheal Dickens
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| Joined: | Fri Jun 22nd, 2007 |
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Posted: Fri Jul 13th, 2007 04:45 am |
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| My sources say that there will be no personell changes, at least on-air, in Lebanon & Waynesville because the GM of those stations negotiated a contract for those people to stay on. They did not have to reapply or reinterview. The only change that is happening is that a part-timer who split time between Lebanon and Waynesville was fired because he couldn't read news. So the over night guy in Waynesille will split time between Lebanon and Waynesville, other wise there will be no changes. Commpinsation will change a little bit. There will be no more profit sharing. But paychecks will go up a little bit as a result. Plus they will still retain their talent fee for ball games, but it's still uncertain as to if they'll keep mileage if they drive their own peronal vehicles to live broadcasts/ball games etc.
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ThePrototype
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Posted: Fri Jul 13th, 2007 11:23 am |
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I've had it confirmed via a source in Moberly that 12 people were axed in the former Shepard Group during the 30 June-1 July takeover weekend..and there are more to come over time..
Watch for the ''Regional Radio'' format to be dumped once GoodRadio has all their ducks in a row regarding their Clear Channel stations..that could happen around Labor Day..
Would not be surprised at all to see "Quinn and Rose'' and ''Glen Beck'' become a staple on their AMs..thus saving more money by not retaining local hosts..
Could it be that Dean and Company are already running on fumes? Just how is a group of 200 small market stations supposed to pay off a 500 million dollar loan?
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Micheal Dickens
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| Joined: | Fri Jun 22nd, 2007 |
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Posted: Fri Jul 13th, 2007 12:47 pm |
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| I don't doubt what you're saying. In Lebanon their already running the Business News Network, thus the calls KBNN, on their AM and in Waynesville they're running a talk format on KJPW AM and FM plus their already simulcasting on KFBD & KOZQ so about the only thing they can do is cut news personell. They could let the overnight guy in Lebanon go from KJEL since he just reads news at the top of the hour since they carry "After Midnite". Plus I guess they could let the evening people go since they have live people on from 5 A .M. til Midnight. Last edited on Sat Jul 14th, 2007 09:06 pm by Micheal Dickens
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morrisjames
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Posted: Sun Jul 15th, 2007 09:06 pm |
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| Just another example of how a buyer looks at how much the stations are grossing but never looks at what it took to get there. Gut the infrastructure and keep the bottom line. I read on stlmedia.net where Goodman's financial backing may be in trouble. I hope David has already cashed the check!
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ThePrototype
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Posted: Sun Jul 15th, 2007 09:32 pm |
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He may have..but for 27.5 million..the other three million is spread out in $500-thousand dollar payments over the next five years..might want to give Uncle Dean a call and see if he plans on being in business then..
Wondering what happens if GoodRadio should call it a day in the next six months or so, what might happen to the Shepard Stations..would River City Radio, the Zimmers or another group be interested?
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