This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Worst Company to Work for in America

It has to be this way, however. It has been this way for as long as I can remember. That's what years of mismanagement and ineptitude do to businesses and, in traditional radio's case, an entire industry.

How Pittman and other Clear Channel executives can look their employees, investors and the public in the face touting the company's digital presence, iHeart Radio, and clout with listeners and advertisers is beyond me. Have they looked at the balance sheet? Have they looked at how they singlehandedly killed and continue to kill an entire medium?

I receive an email each day from RadioInfo.com -- it's basically a shill for the dying industry. On Wednesday, the two lead stories:

  • Clear Channel Debt Issue Sparks Speculation of Sell-Offs, Mergers and More. Basically, Moody's isn't sure Clear Channel will be able to refinance (again) more than $10 billion in debt that comes due in 2016. That means they'll fire more people.

  • Layoffs Coming to Clear Channel San Diego? It's an event when you do not see a headline like that in an edition of the RadioInfo.com newsletter.

    To deal with its debt, Clear Channel will fire people, sell stations and make complicated swap and merger deals that will likely also trigger job losses. That's the status quo at the company.


    And it doesn't have to be -- Mel Karmazin, a former terrestrial radio guy, found a way to competently dig Sirius XM (SIRI) out of a similar jam.

    Clear Channel -- what a hellish place to work. That's not just conjecture on my part. I know people who have worked there, work there now and will likely get chopped sooner or later.

    It's business, I realize this. But, at some point, can we humanize this type of thing?

    Can we have a serious discussion about how a CEO like Bob Pittman can have a dream contract while sacrificing employees left and right?

    Companies such as Clear Channel screw real people each and every day. We're talking about people who do not make much money. Receptionists. Sales assistants. Board operators. Producers. Many of these folks have annual salaries in the teens and twenties and hourly earnings as low as minimum wage.

    2 of 3
  • Select the service that is right for you!

    COMPARE ALL SERVICES
    Action Alerts PLUS
    Try it NOW

    Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

    Product Features:
    • $2.5+ million portfolio
    • Large-cap and dividend focus
    • Intraday trade alerts from Cramer
    • Weekly roundups
    TheStreet Quant Ratings
    Try it NOW
    Only $49.95/yr

    Access the tool that DOMINATES the Russell 2000 and the S&P 500.

    Product Features:
    • Buy, hold, or sell recommendations for over 4,300 stocks
    • Unlimited research reports on your favorite stocks
    • A custom stock screener
    • Upgrade/downgrade alerts
    Stocks Under $10
    Try it NOW

    David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

    Product Features:
    • Model portfolio
    • Stocks trading below $10
    • Intraday trade alerts
    • Weekly roundups
    Dividend Stock Advisor
    Try it NOW

    Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

    Product Features:
    • Diversified model portfolio of dividend stocks
    • Alerts when market news affect the portfolio
    • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
    Real Money Pro
    Try it NOW

    All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

    Product Features:
    • Real Money + Doug Kass Plus 15 more Wall Street Pros
    • Intraday commentary & news
    • Ultra-actionable trading ideas
    Options Profits
    Try it NOW

    Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

    Product Features:
    • 100+ monthly options trading ideas
    • Actionable options commentary & news
    • Real-time trading community
    • Options TV
    To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
    Submit an article to us!
    DOW 16,912.11 -70.48 -0.42%
    S&P 500 1,969.95 -8.96 -0.45%
    NASDAQ 4,442.6980 -2.2110 -0.05%

    Brokerage Partners

    Rates from Bankrate.com

    • Mortgage
    • Credit Cards
    • Auto

    Free Newsletters from TheStreet

    My Subscriptions:

    After the Bell

    Before the Bell

    Booyah! Newsletter

    Midday Bell

    TheStreet Top 10 Stories

    Winners & Losers

    Register for Newsletters
    Top Rated Stocks Top Rated Funds Top Rated ETFs