Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : VIAB (Viacom Class B shares) formerly CBS -- Ignore unavailable to you. Want to Upgrade?

To: Sonny who wrote (2718)	10/8/1998 9:57:00 AM
From: Jay Judell	Read Replies (2) \| Respond to of 4613

I do not know if this is a good story or not but will pass it on... I have my waterwings on.. glug glug...Jay CBS NOT SO MEL-LOW By JON ELSEN -------------------------------------------------------------------------------- Mel Karmazin is being reined in. Following several missteps by Karmazin recently at the Tiffany Network, Chairman Michael Jordan has been reasserting his authority, say sources close to the situation. Jordan has not taken steps to reduce the responsibilities of Karmazin, who has galvanized CBS during the last 034 . 0001.05several years while methodically marching to the No. 2 spot at the company. But Jordan, who enjoys firm support from the CBS board, is getting more involved in company operations, in part because Karmazin is rubbing a lot of people the wrong way. There's a little bit of a backlash within CBS, one source said. Mel has been running roughshod over people. CBS is moving to cut costs and beef up revenues around the company, and it hasn't all been pretty. Now Karmazin is stirring up a hornets' nest with plans to lay off staffers and cuts costs at the fabled CBS news division. CBS is expected to shake up senior management at the news unit and lay off more than 100 news staffers today or tomorrow. While company execs say 034 . 0000.00Jordan backs the move, others say he's skeptical. CBS officials declined comment on the feuding. Jordan has great respect for the news, said one source. Massive cost cutting in news could be going over the line. If the news cuts don't make Edward R. Murrow roll over in his grave, Howard Stern might. Karmazin took a risk by putting the raunchy shock jock on his TV stations on Saturday night, because the Stern show does not fit with Mike or the board, an insider said. Perhaps Jordan and the board members could swallow the indignity of Stern, if the DJ was taking the TV world by storm. But the show has 034 . 0000.00been disappointing. While it's earning more than its predecessors in the same time slot, ratings have been poor and critics scathing. Karmazin raised hackles recently when he fired general managers at CBS's TV stations in Los Angeles and Miami, then dismissed four top network ad salesmen who were popular among ad buyers. While some say the changes were needed to increase profits, others describe Karmazin as a bull in a china shop. Others wonder if Karmazin knows what he's doing in the network TV business. While he's proven himself a wizard at wringing money out of radio ad buyers, the network business is different. 034 . 0000.00Everybody feels that Mel may not have all the answers, an insider said. Karmazin has ruffled some feathers outside the company as well. For a long time he has been a Wall Street darling, because of his single-minded commitment to pumping up the value of CBS stock - of which he is the largest individual holder, with 1.7 percent. But among some analysts these days, the bloom is off the rose. First of all, CBS stock has dropped from 35 to 22516 in the last month and a half, along with a the stock of many other advertising-dependent businesses. But analysts also weren't 034 . 0000.00amused when Karmazin decided last quarter not to break out results for the network anymore. CBS argues that all the TV properties should be viewed together, since the profit is made at the TV stations. But analysts want to see numbers for the network, so they can evaluate the company's momentum. Analysts were also insulted when CBS decided not to hold a conference call to explain earnings and answer questions. People are looking for results, said one Wall Streeter. They're not going to throw good money after bad on blind faith. 034 . 0011.03 -00001 -------------------------------------------------------------------------------- MORE BUSINESS NEWS Copyright

To: Sonny who wrote (2718)	10/29/1998 10:23:00 AM
From: Sonny	Read Replies (1) \| Respond to of 4613

Again: an easy 36 by year end ... Until the earnings were released, all big boys' hands were tied so far ... and as soon as they were released this morning, see what they are doing ... they are gobbling-up CBS shares hands over fist ... as if there is no tomorrow. Why? because it was/is an extremely undervalued value and growth play. See, told you so earlier, didn't I? :-) All imho. Please do your thorough DD. What an attractive young baby in its twenties! :-) cheers everybody, -/Sonny.