It is only a matter of weeks before we see this headline:
Ellen Pao Assumes (insert job title here) Role at iHeartRadio
The only silver lining in the events over the last few months is that Kliener Perkins has been fully vindicated in their dismissal of Ms. Pao for not being competent in her duties and we have a full admission from Ms. Pao that she was not capable achieving the goals that were asked by the leadership at Conde Nast. The only company that is left in a semi-tech realm that wants to be more intune to the Silicon Valley culture is iHeartRadio and they do not have the operating record to attract the top talent needed to shift their firm into that of a trend setter instead of being a zombie like service provider. Ms. Pao with her connections to Silicon Valley elite and to the heads of Wall St. with her marriage to Buddy Fletcher would be perfect for guiding a company that has no future and cannot be steered into a direction of success except for cashing out its value for shareholders.
And as a bootnote, please do not think that my remarks here are sexist or derogatory because I have seen many capable women running companies in Silicon Valley and some unfairly brutalized for being visionary and making the right moves. Meg Whitman and Marissa Mayer have done wonders in their leadership roles in the past and poor Carly Fiorina* got kicked to the curbed when she saw the future with PC company consolidation 5 years before the rest of the tech world and positioned HP to have a nice chunk of that market that could be easily defended. My comments here represent that the Peter Principle is very much in place in American corporations and in the case of Ms. Pao, she has been promoted too far up the ladder on a couple of occasions.
*And my sympathy for Carly will not extend to the polling place as I think she has the same political qualities as Donald Trump. She has just been smart enough to bite her tongue.
I can see the press release already...
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- cgarison
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I can see the press release already...
The first step in a successful revolution is to defeat all competing revolutionaries.
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Re: I can see the press release already...
I-heart can "cash out its value" for shareholders. Debts exceed assets by a ginourmous factor.
The end will come in a bankruptcy filing.
The end will come in a bankruptcy filing.
- cgarison
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Re: I can see the press release already...
And just like we did when I was in the coal industry, Bain Capital will grab all the cash they can by liquidating iHeartMedia's profitable lines of business prior to pulling the pin on the bankruptcy grenade.
The first step in a successful revolution is to defeat all competing revolutionaries.
- genlock
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Re: I can see the press release already...
Other than the core stations in large markets, What are the profitable bits?
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- Arp2
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Re: I can see the press release already...
When I was first hearing about Pao in the news, I thought, "wow, what if her charges are true?"
Then, I realized it meant she was a ____ing idiot in the first place and probably a bigger one than the people she was accusing, sooo........
Then, I realized it meant she was a ____ing idiot in the first place and probably a bigger one than the people she was accusing, sooo........
"I don't know the same things you don't know."
"Yes, you do; you just won't admit it!"
"Yeeee...it looks like a 'Belt Buckle & Ball Cap' convention in here......"
"Yes, you do; you just won't admit it!"
"Yeeee...it looks like a 'Belt Buckle & Ball Cap' convention in here......"