May 5, 2009

Opinion: Limbaugh's living large while radio boss Clear Channel implodes

Posted: 11:56 PM ET

By Eric Boehlert/Media Matters

Clear Channel's fall from business grace remains epic in its proportions. In 10 years time the company has gone from dominating a flourishing radio industry to a corporation that now teeters on the brink. (Clear Channel stock traded for $90 a share in 2000. artrushobamagiWhen the radio company went private last year, pre-crash, the stock was already down in the $30s.) Lots of over-extended, debt-ridden media conglomerates are struggling through today's deep economic recession, but few face a future quite as perilous as the one staring back at the San Antonio radio giant.

And yet Clear Channel's most famous employee, Rush Limbaugh, remains oblivious to it all. I sometimes wonder what Limbaugh thinks when he reads about the not-so-slow-motion collapse of his radio employer while lounging in his 24,000-square-foot Florida estate or motoring in his $450,000 car to the airport to ride in his $54 million jet. Does Limbaugh feel bad? Does he feel a little guilty? And does he ever think about giving some of his riches back so that thousands of radio colleagues wouldn't have to be bounced to the curb?

And I wonder what those pink-slipped Clear Channel employees - some of whom spent decades working for the company - think about Limbaugh as they're ordered out the station door and onto "the beach." (That's radio-speak for unemployment.)

(Read More)

Filed under: Economy • Larry King Live • Rush Limbaugh

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Pietro Sirianni   May 6th, 2009 1:01 am ET

This is the republicant party in a nutshell, be it a very large one. Let the common man suffer as long as the wealthy get wealthier. That is what the American people voted against. All tthese so called conservatives really want to "conserve" is their own money.

If you are a republicant and are not making upwards of $500,000 a year you are a fool.

Republicant leaders have no morals, but they use yours to get votes.

If anyone does listen to this man on AM radio, remember you are listening to a multi-millionaire promoting his own self-interest.

Do you really think he cares about you or your country? This "man" that would let the company that made him wealthy sink into bankruptcy?

...and I gotta' bridge in Brooklyn I'm selling for scrap metal.

Dave of Detroit   May 6th, 2009 8:31 am ET

The problem with hot air balloons is that eventually they will exceed their capacity and blow up!

Michael C. McHugh   May 6th, 2009 9:28 am ET

Limbuagh what just say "That's capitalism. I've got mine so who cares about you." That's a very important part of the conservative Republican Message, and you can see the results of its influence all around you in this world.

Michael C. McHugh   May 6th, 2009 9:30 am ET

Limbaugh would just say: "That's capitalism. I've got mine so who cares about you?"

squireeaton   May 6th, 2009 11:09 am ET

Jeremy Pepper and others just do not see to understand how the real world operates!

GF, Los Angeles, CA   May 6th, 2009 6:00 pm ET

Look the same was said about Tom Leykis and his huge contract when he was on 97.1 FM. Critics think if he had taken a pay cut the station would've been saved and kept as an all talk station instead of being converted into another Britney Spears, hip hop and pop station. Sad fact is in this economy – no one is safe. Should Leykis and Limbaugh give up some of their money for the sake of the radio station? I don't think so. The deal was made so live with it.

lucy   May 7th, 2009 10:52 pm ET

Hmm..Why doesn't CNN, NBC,CBS,ABC do a lead story about Rush Limbow-wows extravagent living in such a recession! Plaster his income tax statements for all to see.....FAIR is FAIR......So much for FOX NEWS...they will never expose the truth about a fellow Republican......Go Figure.....

Ng Tat Keong   May 8th, 2009 11:37 am ET

I miissed the good old days when CEOs are CEOs and conmen are conmen. Nowadays, you can't really tell...

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