Rough Sledding Ahead For Radio Sales…

Goldman Sachs projects a slump in local advertising for the rest of the year and well into 2009 for Radio, newspapers and local TV.  They even compare the decline in ad spending as severe as in the 2001 recession.  Radio, outdoor, magazine and newspaper spending will slip anywhere from 5% to 10%.  Local TV will fall 7%…

Goldman Sachs is not alone in dire projections.  Barclays’ sees declines for total U.S. ad spending falling 3.6% in 2008 and another 5.5% in 2009.  If Barclays’ outlook proves true, it would be worse than the losses suffered in the 1991 and 2001 recessions.  ZenithOptimedia’s a bit more optimistic.  The reason for ‘opti’ in their company name?  Zenith predicts U.S. advertising will grow 1.6% in 2008 and just 0.7% in 2009.  What do they put in their morning coffee?  Zenith originally predicted gains in 2008 and 2009.  Zenith’s explanation?  A company spokesman offers this, “there is no bubble to burst, which is why we expect global ad expenditure to slow in 2008 and 2009 rather than go into reverse.” …

The most intelligent comment I’ve heard so far during the presidential campaign about the economy was what Barack Obama told ABC’s Charlie Gibson.  Obama compared what’s happening to the famous fiscal statement by Alan Greenspan.  Instead of “irrational exhuberance”, what we’re experiencing now is “irrational despair.” …

 10 Timeline Memories: 

1. 1701] Eli’s coming: The Collegiate School of Connecticut is chartered in New Haven. The name of the school will be changed to Yale…
2. 1855] Sewn up: Isaac Singer patents the sewing machine motor. The Singer Sewing Machine will become the standard for all sewing machines and still is…
3. 1872] Mail order is born: Aaron Montgomery Ward starts his mail-order business with the delivery of the first mail order catalog. The firm becomes Montgomery-Ward…
4. 1958] “Happy Trails“: Pope Pius XII dies of kidney disease at 82 after serving as the pontiff for 19 years…1967] Latin American guerrilla Che Guevara is executed in Bolivia while trying to incite revolution. Guevara was 39…1974] Oskar Schindler dies in Frankfort, Germany at 66 from an undisclosed illness. Schindler was credited with saving the lives of over 1,200 Jews during the Holocaust…
5. 1967] Red Sox rebound: Boston rebounds to take game 5 of the World Series in St. Louis as Jim Lonborg pitches a 3-hitter against the Cardinals…
6. 1973] Curtains: Elvis Presley and Priscilla D-I-V-O-R-C-E after 6 years of marriage…1977] North Carolina basketball coach Dean Smith retires as the winningest college basketball coach in history. The team’s record under Smith: 879-254 with 2 national titles and 11 final fours…
7. 1985] Strawberry Fields Forever: The official dedication of Strawberry Fields is held on what would have been John Lennon’s 45th birthday. Son Sean was 10 years old. He’s now 33. It was Mayor Ed Koch who named the patch of Central Park real estate in the shadows of The Dakota where John Lennon lived and died. As is the custom, there will be fans congregating there today on what would have been John’s 68th birthday.  This is Strawberry Fields in Central Park…
8. 1985] Surrender: The hijackers of the Achille Lauro surrender after the ship docks in Port Said, Egypt…
9. 2000] A hulluva feat: Brett Hull passes dad, Bobby, on the all-time scoring list, putting him in 9th place with his 611th goal.  Brett appeared on Letterman after scoring his 50th goal in 2000…
10. 2002] Sniper rampage: A man is gunned down moments after filling his tank at a gas station in Manassas (VA) in the latest sniper shooting in the Washington, D.C. area.  Charlie Rose supplies an update on the shootings…

Music Memories:

• 1969] Released on this date: “Someday We’ll Be Together” - Supremes…1971] “Wild Night” - Van Morrison…1979] “Babe” - Styx…1980] “Starting Over” - John Lennon…

“Happy Birthday…happy birthday”:  Sean Ono Lennon (33), John O’Hurley (52), Scott Bakula (54), Tony Shaloub (55), Sharon Osbourne (56), Jackson Browne (60), Nona Hendryx (64), Joe Pepitone (68) and Fyvush Finkel (85)…

Timeline Countdown: 16 days until the World Series begins, 22 nights until Halloween and 23 nights until we move clocks back one hour…

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