Who Let Pops Have The Checkbook?

Last Wednesday, Entercom Chairman Joseph Field (David’s generally retired father) made news by purchasing ETM shares on the open market. Insiders usually do this when they believe their company has been undervalued by Wall Street.

At prices between $7.35 and $7.63, Field bought 135,600 ETM shares, according to his subsequent SEC filing. That created a rare, minor buzz for the company and its ailing stock. That day, Entercom saw a gain of about half a point on heavier-than-average volume.

Since then, the owner of WRKO and WEEI has resumed its relentless slide, finishing today at $7.02, a new closing low.

We don’t know exactly what Field Sr paid for each share, but he may have already lost as much as $63,732 on the purchase, assuming an average price of $7.49.

So here’s the big question: who let Pops have the checkbook?

$63,000 buys a lot of fun in Atlantic City or Vegas and at least there would be some happy memories associated with disposing of the money.

Heck, handing out C-notes to random pedestrians on the streets of Bala Cynwyd would be more productive than this stunt.

So why did he do it? Does he really believe Entercom’s decade-long slide into Wall Street oblivion will suddenly reverse course?

In a different economic climate, we might be willing to consider the idea that someone would purchase the company, but that’s extremely unlikely as the radio sector continues to collapse.

Could it be that ol’ Joe is just not grasping the severity of his company’s decline?

Update On Keown Trial

The murder trial of former WRKO employee James Keown has gone to a jury, according to the Herald:

A former WRKO (680-AM) employee accused of poisoning his adoring wife to death with anti-freeze-spiked Gatorade scoured the Internet for ways to finish her off as “Kesyer Soze,” Kevin Spacey’s murderous monster in “The Usual Suspects,” prosecutors said today.

Jurors began deliberating more than two weeks of evidence and testimony this afternoon after James Keown, 34 – who would like the panel to consider that Julie Keown, a registered nurse, may have committed a slow, agonizing suicide – declined to take the witness stand on his own behalf.

From A Reader

Hello:

I didn’t know if other people missed Moe Lauzier but WPRO 630 AM has Moe covering for Dan Yorke 2pm-6pm on July 2 and July 11, in addition to the week of July 14-18.

I found this information on Moe’s website.

I heard him yesterday and it put a smile on my face to hear that familiar voice.

I guess Rhode Island stations get it. First Todd on WHJJ and Moe on WPRO.

I have been listening to the Rhode Island stations and given up on WRKO.

All the best,

Janet

Bill Delahunt: Terrorist Supporter, Bay State Embarassment

After his asinine, pro- al-Qaeda comment on Capitol Hill, Rep Bill Delahunt (D-Venezuela) has once again embarrassed the South Shore, Cape, Islands and the whole of Massachusetts.

That didn’t go unnoticed by talk radio hosts, who’ve correctly been pounding away at Delahunt all day. From Rush Limbaugh to Howie Carr, the former Norfolk DA hasn’t received this much attention since his previous pro- Hugo Chavez meltdowns.

From Limbaugh’s Friday program:

RUSH: There was an event on Capitol Hill yesterday, just give you an idea. Do you know how many hearings, by the way, the Congress, House and Senate combined have had on oil and energy this year? Do you know how many hearings there have been with the Big Oil execs and without, just exploratory hearings? They’ve had 40 hearings on oil and energy, and has anything happened? Yes, the price has continued to go up. Do you know how many hearings they have had on whether or not the United States tortures detainees? They’ve had over 60 in the House and Senate combined, over 60 House and Senate hearing, and there was another one yesterday. It was the Constitution civil rights and civil liberties subcommittee of the House Judiciary Committee. Massachusetts representative Bill Delahunt was questioning David Addington. David Addington is chief of staff, former counsel to Vice President Cheney. Addington, a very private guy, does not show up in public. He was forced to show up at this hearing. They asked him the typical stupid questions, and he just stuck it to these guys by not bending over forwards and grabbing the ankles like Republicans usually do or anybody else does when they face a congressional committee. This did not sit well with Bill Delahunt, who said this.

DELAHUNT: Oh, I can understand why he [the President] doesn’t talk about it.

ADDINGTON: But you gotta communicate with Al-Qaeda. If you do — I can’t talk to you. Al-Qaeda may watch C-SPAN.

DELAHUNT: Right. Well, I’m — I’m sure they are watching, and I’m glad they finally have a chance to — to see you, Mr. Addington, give —

ADDINGTON: I’m sure you’re pleased.

RUSH: You need me to translate this for you? Delahunt said, “Oh, I can understand why the president doesn’t talk about it.” Addington, “you gotta communicate with Al-Qaeda. If you do, I can’t talk to you, Al-Qaeda may watch C-SPAN.” I can’t tell you what we’re doing about Al-Qaeda. Not here. Delahunt says, “Yeah, well, I’m sure Al-Qaeda is watching, and I’m glad they finally have a chance to see you, Mr. Addington.” A number of people have inferred from this that Delahunt would not be disappointed if Al-Qaeda took Addington out now that they know who he is. Delahunt has said, “I didn’t say ‘they.’ I didn’t say finally they had a chance to see you, I said finally I’ve had a chance to see you.” Okay, let’s see if that’s what he said. Let’s listen to this again, now.

What amazes me about this is that Delahunt represents one of the Bay State’s most conservative districts. Yes, there are a few moonbat towns down here, but it’s not a place where conservative sentiments must be kept hidden (like Cambridge, P-Town, Berkeley, Seattle, etc).

ALSO BLOGGING: Hub Politics.

Howie And The Toll-Takers

Sounds like the name of a circa-1950s rock band, doesn’t it?

Here’s the issue: we can blast Howie Carr all we want for phoning in his show (meaning putting very little effort into it), but around here, government corruption means there is an endless amount of low-hanging fruit to be picked.

Why should he try? It’s so easy here.

That’s not to say we can’t make criticism of Howie stick: it’s as simple as calling him out on his inability to develop these great topics.

Kicking off today’s show, he ran recorded soundbites on the toll-takers theft scandal, but within moments, had moved into other topics. As he jumped all over several potentially great issues, none were properly developed. The result was a mess.

I’m guessing several professional programmers have tried to work with him on this over the years, but he wasn’t willing to listen.

Pick your number one topic, develop it and move on to the others later.
You’ve got four hours, so time isn’t the issue.

At least Howie tries to cover local issues, unlike Vay Cay Jay, who either believes he’s above them or hasn’t bothered to get up to speed since moving here from Sag Harbor.

Notes From The Road

After spending part of the week in New York City, I’m now back home in New England. On Tuesday, I was at the FOX News Channel, where I did my bit for the Vast Right-Wing Conspiracy.

Because Amtrak service has been curtailed beyond Mystic this week, I drove to New London to catch the Northeast Regional (no Acela this time, it hasn’t gone north of NYC this week and I had no desire to repeat my last experience). Oddly, hardly anybody was riding the normally-packed trains, the service outage scared most of them away.

During the drive to New London (civic motto: where your “private property” belongs to politicians), I listened to quite a bit of talk radio. Impressions:

WRKO: The Felon was struggling to get through the show as usual. Lately, there’s a tone of desperation apparent at times, as though he knows the vanished audience has defeated him. This wretched show should have been put to sleep a long time ago. Why does it continue?


WTKK: As he
addressed his latest flap, Imus actually had a bit of entertainment value, a rarity these days. He’s doing well for WTKK, but for how long?

WPRO: As he dug into the issue of an non-deported illegal alien who kidnapped and raped a Providence woman and the resulting political fallout, John DePetro was doing a great job. Unlike the nervous wreck he often appeared to be while at WRKO, he’s in his element at WPRO.

I also liked the fact that WPRO still has a functioning newsroom that can deliver updates to the hosts as they develop. It sure exposes WRKO for the two-bit operation it has become.

I only had one small complaint: he needs to quickly reset his topic after returning from each break. Anyone tuning in after the hour has begun isn’t going to have a clue about the issue at hand.

Driving the length of Rhode Island, it quickly becomes clear why WPRO has migrated to FM. Their 630 AM signal is lacking in many areas.


WHJJ: Another nice
surprise was hearing Todd Feinburg filling in at WHJJ, which is largely syndicated and poorly marketed these days. Todd was clearly enjoying having a chance to be back behind a local microphone.

On the late evening drive home, I caught Michael Savage with a female guest who was talking to the audience in Spanish, a truly surreal experience.

That was followed by a host whose voice I didn’t recognize, who gave a lifeless, sadly low- energy take on the Gloucester pregnancy pact. In 20 minutes of listening, he never identified himself or the program.

Only during the next break did I learn who I was listening to: a former actor who decided to play radio and convinced a syndicator this wretched program should go national. It’s used by the firm as a “must carry” add-on: if a station wants a more-coveted show they own, it’s required to run his as well.

That was a lot of talk radio listening in one dose, wasn’t it? Overall, I believe the Providence stations sounded far superior to their Boston counterparts. Remember when the Hub was a nationally-recognized center for compelling talk radio?