The State Of The Economy And Radio…

Wednesday, October, 8, 2008 by Mel Phillips.

The state of the economy will be the deciding factor in who wins the presidency.  Whoever convinces voters that his ideas will help turn the economy around is our next president.  And while the news has been grim at radio, some networks are making gains.  Phones have been exploding at the Wall Street Journal Radio Network and Bloomberg Radio.  Last night’s presidential debate showed the concern and worry about jobs, 401Ks, the price of food, mortgages, rents, cars.  The economy is the major concern for about 80% of the population, according to some polls…

Detroit automakers who provide a sizable amount of revenue to both radio and TV are slashing their budgets.  They’ve already cut more than 4% of their advertising budget in the first four months of 2008.  Last year, dealers spent nearly $8 billion on newspapers, TV and radio advertising.  That number will take a major hit this year.  United Stations Radio Networks Chairman/CEO Nick Verbitsky is so concerned that he’s offering his affiliates the services of his production department for their automobile and car dealership clients, for free…

Strangely enough, car dealers have to advertise more to sell every car.  The average dealer spent $626 on advertising for every new vehicle, a 5.5% jump from the same period last year.  A lot of that money is being spent to move the dinosaur SUVS…     

10 Timeline Memories: 

1. 1871] We didn’t start the fire: The Great Fire of Chicago kills 250 and leaves 90,000 homeless. Four square miles of the Windy City (named for loud-mouthed politicians not the gusty winds) is destroyed…
2. 1918] This is a hero: Sgt. Alvin C. York almost single-handedly kills 25 German soldiers and captures 132 more in the Argonne Forest in France. York is awarded the Congressional Medal of Honor…
3. 1938] Turning the tables: The cover of “The Saturday Evening Post” has a portrait of Norman Rockwell…
4. 1944] Premiered on this date: The radio show, “The Adventures of Ozzie and Harriet” debuts…
5. 1956] Perfecto: Yankees pitcher Don Larsen becomes the 1st and only pitcher to throw not only a no-hitter but a perfect game in the World Series, over Brooklyn 2-0 at Yankee Stadium. It was never done before or since…
6. 1967] Gotcha: Guerrilla leader Che Guevara of Cuba, and his men are captured in Bolivia…
7. 1973] Basebrawl: A brawl erupts in Game 3 of the National League playoffs between the Mets and Reds as Pete Rose and Bud Harrelson duke it out at second base. The Mets win the game 9-2 to take a 3-2 edge in games. They will win the series and move on to the World Series against Oakland. This they lose…
8. 1991] Hallowed ground: A slave burial site is found by construction workers in lower Manhattan. The ‘Negro Burial Ground’ had been closed in 1790. Over a dozen skeletons were found…
9. 2003] Wedding Bells: Vivendi Universal and General Electric announce an agreement to merge into NBC Universal…
10. 2004] Not a good thing: Martha Stewart begins her 5-month jail sentence for lying about a stock sale…

Music Memories:

• 1957] Recorded on this date: “Great Balls of Fire” - Jerry Lee Lewis…
  1971] Released on this date: “Imagine” - John Lennon…1977] “The Stranger” LP - Billy Joel…

Commentary:

The culmination of the Jewish New Year ends tonight at sundown as Yom Kippur is celebrated by a day of fasting.  It is the most solemn day of the year for Jews everywhere…

“Happy Birthday…happy birthday“:  Matt Damon (38), Emily (”CSI Miami”) Procter (40), Darrell Hammond (53), Robert “Kool” Bell (58), Sigourney Weaver (59), Chevy Chase (65), Jesse Jackson (67), Paul Hogan (69) and Rona Barrett (72)…

Timeline Countdown: 17 days until the World Series opener and 25 nights until Halloween…

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