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"Spanish language radio stations hit hard by drying up of zero down mortgages"

8 Comments -

1 – 8 of 8
Anonymous Anonymous said...

From the article:

Changes are in the works at Radio Fiesta. In January, Aragon hired his 28-year-old daughter, Melissa Gieras, as the station's business development executive. She has been drawing up revised programming plans and pitching the station to more advertisers outside of the county. She has also been laying the groundwork for a nonprofit group intended to be a resource for the county's minority-owned businesses.

That sounds like a winning business plan. Hire your still wet behind the ears daughter to try and run the station.

Nepotism, it's America's future.

7/14/08, 12:00 AM

Anonymous dearieme said...

Meantime, here in Britain one of our little mortgage banks is apparently to be taken over by the large Spanish bank Santander. So now if there is trouble, is it up to the Spanish government to do the rescue? But it doesn't have a currency of its own, so therefore...what?

7/14/08, 4:38 AM

Anonymous c.o. jones said...

A little-remarked-on aspect of Spanish-language radio is how little money the stations actually make.

Take Southern California for example. The Spanish stations have huge audiences, but due to the socioeconomic status of the typical listener, they cannot command the same ad rates that even low-rated English language stations can. Put another way, you don't hear ads for Rolex watches or high end import automobiles very often these stations (if at all) - the audience just doesn't have that kind of money - so the stations have to compete strictly on price for the bottom end of the market.

Eddie "Piolin" Sotelo may have huge ratings, but he's probably making 1/10 of what a guy like Ryan Seacrest makes, if that.

It's a reasonable assumption that a guy who's supplementing his income as a real estate agent (and probably as a "notario" and running a "farmacia" as well) isn't making much money running his radio station.

7/14/08, 7:40 AM

Anonymous none of the above said...

I suspect a big part of the hit is coming from the "stated income" loans going away. If you're making a lot of money working off the books, this kind of loan makes some sense, though the inevitable abuses have pretty much gotten rid of it.

Another source of the hit is that the construction industry is in a big slump, as a result of the housing market being in a big slump. That's where a hell of a lot of recent immigrants were working, and what made it possible for some of them to afford to buy houses or condos.

7/14/08, 10:39 AM

Anonymous Anonymous said...

"Ronald Gordon?" Good Hispanic name there.

7/14/08, 2:48 PM

Blogger Lucille said...

Good Hispanic name there.

Like Fujimori.

7/14/08, 3:42 PM

Anonymous Anonymous said...

"Ronald Gordon?" Good Hispanic name there.

Or Nicolás Lindley

7/14/08, 9:06 PM

Anonymous David said...

The powers that be always portray decline as a result of natural forces. "Hispanics are taking over - the wave of the future - unstoppable and inscrutable predestination of history - get used to it! EMBRACE the vibrancy, you racists!"

But, in reality, it's a manufactured change, unnatural and - when natural factors assert themselves - as thin as piss on a rock.

Same with the idea that "you can't possibly get rid of illegal aliens in their millions - all of them are here to stay!" No, they aren't. The tiniest efforts at immigration enforcement are driving them from entire towns. Link. Another link. Combine such enforcement with a cut-off of social services - plus a reduction in construction jobs generally - and you have an Exodus of Illegals. It's doable; what's lacking is the will to do it. Which the fait-accompli types are working day and night to sap. They want the death of white America.

I wonder if we will see these Hispanic radio stations subsidized suddenly by Time Warner or some other combo of fat cats/change agents? Keeping the wave of the future rolling isn't cheap.

7/15/08, 8:35 AM

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