Radio Is Selling For Pennies On The Dollars…

Kannon Fodder:

Radio is selling for pennies on the dollars, and only those thinking forward will survive…

We’re often reminded of the great quote accredited to Warren Buffet: “Picking up pennies in front of a steam roller is a lousy business plan.”

The Kannon Team has a great passion for Radio, and keeps it’s ear to the ground for trends in the industry. Here’s Mark Ramsey –- one heck of a smart radio guy’s — take on the current state of the industry:

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LK Endorses Obama, But Not Through Rose Colored Glasses

Barack Obama isn’t a polished gem.

It’s not even clear yet that he’s a diamond in the rough.

What is clear is that this is one of those moments in history when chances have to be taken, when untested raw talent is preferable to a known entity whose best maverick days are far behind him.

McCain’s judgment, through his choice of an unqualified vice-presidential candidate, among other campaign miscues, has been shown to be impulsive and erratic.

His lack of understanding of the global economy, and how it’s intertwined with the fate of working (as well as unemployed) Americans, is more frightening than any movie that was available for rental on Halloween.

Perhaps most importantly, Obama is smart enough, and secure enough, to know what he doesn’t know, and to surround himself with world class, universally respected advisers to fill in the gaps. Not unlike what a top shelf CEO would do.

In contrast, the Dan Quayles and Sarah Palins of the world are so constricted mentally that they didn’t and don’t recognize how mentally constricted they are. Very dangerous. That McCain, who at one point seemed like a pretty savvy fellow, allowed the choice of someone he knew in his heart of hearts isn’t qualified to be veep, points to 4 more years of a rudderless ship. A Navy man should know that’s not a viable vessel.

Paul Volcker, Warren Buffet, and Colin Powell know a lot more about the economy, foreign policy, and military strategy than you or I do, and they’ve cast their ballots in the form of endorsements for Obama. McCain’s got the Verminator and Cheney. Enough said.

LooseKannon and endorse Barack Obama for President of the United States.

Election As Mirror

Obama’s now got Colin Powell’s endorsement. Chairman of the Joint Chiefs of Staff under George the first and Sec’y of State under George II. That’s an endorsement from a military man, not a black man, but I’m sure the right wing radio types are already licking their chops. Vile (but entertaining) bastards.

He’s already got Buffet and Volcker, Rubin and Reich. That’s most of the economy, stupid.

The mark of a society that survives is its ability to discern, and willingness to listen to, the best and brightest within its ranks.

This election, is, more than anything else, a referendum on us. On whether our society survives and prospers, or continues the wretched decline that began on January 20, 2001.

America’s going to look in the mirror on November 5th, and see whether we’re a frightened people clinging to a limited view of the past, or a courageous bunch willing to take on the unknown.

Romans watching Rome burn, or the Founding Fathers. You decide.

Anarchy Rising

Someone close to me had a stroke at the beginning of April. She returned home at the beginning of June.

3 weeks later one of the many home health care workers who came to provide therapy and aid got hold of her checkbook, copied the routing and account numbers, and used the info, along with other lowlifes to whom the numbers were sold, to make bill payments via phone. Total damages were more than $7000. Almost all of it’s been returned.

3 weeks ago, after spending around 10,000 hours on 5 or 6 different desk and laptop computers over the past 10 years, I was hacked into. I’ve got four screens, so it was a sci-fi nightmare to see grotesque image after grotesque image pop-up along with a demand for a credit card number that would cause the attack to cease. I manually shut the machine down, and paid an IT expert to clean it up and restore the data.

In response to these unsavory and disheartening incidents, I’ve spent a decent amount of time talking with the bank’s fraud unit and the local police precinct. They both said that petty and not so petty crime was rising as people who wouldn’t normally step over the line are driven by need to do so.

Petty crime is a form of anarchy. It’s a precursor to greater civil unrest. Kids coming out of juvey or rehab, working their programs, are going to find nothing in the way of legitimate work. Can you say recidivist?

And regardless of what the stock market does today or in the next year or two, the level of unemployment is going to rise and strains are going to be put on the very system that keeps people in line by making them part of it.

I’m looking into prison stocks. I don’t know if there’s a pure play on bologna or spam, but if Buffet’s looking for something long term, he might start there.

You gotta hope some of the white collar bastards whose greed and deception caused this mess end up sharing cells with some of the skells who returned to crime in order to make ends meet.