Tag: "Marilu Henner"
CBS to Explore Options for Radio Division. The company has always enjoyed the cash flow that the CBS RADIO division brought to its bottom line but CEO Les Moonves has often indicated that radio is not a core business for CBS Corp. Yesterday’s announcement by Moonves at a CBS investor day that the company will explore “strategic options” for the radio division in order to “hone its asset portfolio” is being greeted by the radio industry with mixed emotions. Potential buyers are thrilled by the thought of acquiring CBS’ heritage, major market signals, but few operators have piles of cash on hand and it will require taking on debt to buy these stations in a climate where debt can be difficult to pay off. TALKERS magazine publisher Michael Harrison offers the following comments on the Moonves announcement, “Broadcast (FM/AM) radio can still be a very viable business if stations can be acquired at realistic prices. There is still a lot of life left in the medium if it can run within a business model that makes sense per the times. Also, broadcast radio has a large audience and provides a vital set of services for millions of Americans. It just needs to be relieved of stifling debt. Radio has to be able to afford to do radio. Fresh capital within a realistic debt structure and the influx of invigorated, passionate ownership will create a much better product for radio which will further add years of vitality to the industry.” However, Harrison points out, “CBS has been and still is one of the better-run major companies in radio, so its decision to get out – although advancing the cause of de-consolidation – is not an act of desperation as much as it is indicative of their long-term asset strategy.” Moonves told investors that it views CBS TV and Showtime as its premium brands. The company is focusing intently on its digital efforts CBS All Access and Showtime via the Internet to cater to consumers’ growing on-demand preferences. CBS owns 117 signals in 26 markets, many of those clusters are in major markets. Given what CBS hopes to get for the stations it is unlikely that one buyer will be able to swallow the whole group. Since radio is not considered a growth industry by investors, finding favorable financing for radio station acquisitions – especially in light of the enormous debt fellow operators iHeartMedia and Cumulus are dealing with – will be a challenge. Moonves said all options are on the table, meaning the company would consider a spinoff or a split as well as an outright sale. CBS RADIO’s net revenue for the fourth quarter of 2015 was down 5% compared to the same period in 2014.
American Broadcasters Participate in Radiodays Europe. Several prominent US radio broadcasters participated as speakers in the just-concluded seventh annual installment of Radiodays Europe – the growingly popular international radio convention that took place March 13-15 in Paris. Among them were TALKERS magazine publisher Michael Harrison who delivered a speech titled “Lessons Learned by American Radio During the Dawn of the Digital Era” and moderated a “Fast and Curious” roundtable discussion titled, “Making Radio Indispensable;” Jacobs Media CEO, Fred Jacobs who participated in a group presentation titled, “”Radio in Car: Dashboard Disaster;” Geller Media International president Valerie Geller who conducted a workshop titled “Create Powerful Radio,” spoke in a group session titled “30 Ideas in 45 Minutes” and debuted the brand new French language edition of her book Creating Powerful Radio; iHeart Media syndicated personality Elvis Duran and VP of talent development Dennis Clark who both appeared on the panel titled “Morning Radio Superstars – In Talent We Trust; NPR producer Bianca Giaeve, who presented a session titled “Storytelling in New Medias” and appeared in the group session titled “30 Ideas in 45 Minutes;” and Futuri Media CEO Daniel Anstandig who presented a session titled “Winning the First Tune-In Occasion of the Day.” It was announced that next year’s Radiodays Europe will take place in Amsterdam. Pictured at right is Valerie Geller with her Puissance Radio French publishing team (l-r) Philippe Chapot, Francois Quairel and Frederic Bruhaltour at the debut of the French version of her classic Creating Powerful Radio.
Cumulus Kansas City Names Lance Tidwell Cluster OM and KCMO PD. Programmer Lance Tidwell joins Cumulus Media’s Kansas City station group to serve as cluster operations manager and program director for news/talk KCMO-AM. He’ll also supervise the Chiefs Radio Network. Tidwell was previously SVP of programming for iHeartMedia’s San Antonio cluster. On KCMO-AM, Tidwell replaces Steve Sutton who recently exited the PD and talk host roles at the station.
Odds & Sods. The photo at right shows a billboard in the Tampa market for “102.5 The Bone” morning personality Mike Calta. Cox Media Group-owned talk outlet WHPT is also promoting the afternoon drive Drew Garabo show with a similar ad. “Bone” program director John Brennan comments on the Trump-inspired boards saying, “We’re kicking off 102.5 The Bone’s ‘CamPAINFUL’ coverage and have launched a series of parody billboards ‘Trumped’ in ridiculousness only by the 2016 Election itself.” Calta will appear at the Talkers 2016: Bridging the Generations conference at Hofstra University on May 20 on the “Millennials and the Media” panel…..It’s being reported that the Marilu Henner talk radio show will wrap after its last broadcast on March 31. The program is no longer listed on the Sun Broadcast Group site. It is distributed by Genesis Communications Network. “Free Talk Live” principal Ian Freeman reports the news to affiliate stations. His show is also distributed by GCN…..Speaking of “Free Talk Live,” the show announces it has added new affiliates in WWHP-FM, Bloomington, Illinois; KQQQ, Pullman, Washington; simulcast KEIR, KEII, and the four translators in Idaho Falls, Blackfoot, and Pocatello, Idaho; and WSDT, Soddy-Daisy, Tennessee…..Greg Janoff returns to CBS RADIO New York as director of news sales for all-newsers WINS and WCBS-AM. Janoff was most recently with Townsquare Media as regional VP for New Jersey.
Round Two of February PPM Data Released. The second of four rounds of February 2016 PPM data from Nielsen Audio has been released for 12 markets including: Washington, Boston, Detroit, Miami, Seattle, Phoenix, Minneapolis, San Diego, Tampa, Denver, Baltimore, and St. Louis. The survey period was January 28 – February 24. TALKERS magazine’s sister publication RadioInfo has all of the 6+ numbers from subscribing stations here. In addition, managing editor Mike Kinosian presents his “Twelve Takeaways” from this batch of ratings on the main page at RadioInfo.com here.
Super Tuesday II/Presidential Race, Syrian Conflict-Russian Involvement, Scalia Replacement, U.S Immigration Policy, and ‘Pawn Stars’ Cast Member Bust Among Top News/Talk Stories Yesterday (3/15). Yesterday’s Super Tuesday II primary elections and the issues surrounding the presidential race; the Syrian conflict and Russia’s announcement it is removing its troops from the region; the controversy over the replacement of late Supreme Court Justice Antonin Scalia; debate over the immigration policy in the U.S.; and the arrest of “Pawn Stars” cast member Chumlee were some of the most-talked-about stories on news/talk radio yesterday, according to ongoing research from TALKERS magazine.
Henner Among hivio Highlights. To punctuate his point of the “power of audio,” Mark Ramsey Media president Mark Ramsey played several seconds of the unmistakable bumper from Jerry Seinfeld‘s sitcom “Seinfeld,” which debuted in May 1990. It had its last telecast just over eight years later (September 1998) – thus has been in syndication longer than its original NBC primetime run. That and classic clips from Orson Welles‘ legendary “War of the Worlds” (including how purposeful “dead-air” is a potent way of using audio) were cleverly woven in by Ramsey yesterday (Thursday, 6/4) in his scene-setting opening remarks of hivio 2015, the two-day Los Angeles confab focusing on compelling content in a world of limitless distribution. Eight segments – including three 30-minute presentations – followed Ramsey’s 20-minute introduction in a fast-paced four-hour seminar at Hollywood’s landmark comedy venue, the Improv. One of those eight segments was a one-on-one interview Ramsey conducted with Marilu Henner, in which the author, sitcom actress (“Taxi,” “Evening Shade”), “Celebrity Apprentice” participant, Food Network host, and memory expert discussed her daily radio project. Downplaying her celebrity status, Henner insists she is just “a neighborhood girl from Chicago” and in many ways simply “the girl next door.” Enamored with radio’s spontaneity, she states she is “a very auditory person” and that has “always been” her passion. This past May 13 commemorated the one-year anniversary of the radio show fronted by effervescent Los Angeles-based Henner. The daily talk entity is executive-produced by Sun Broadcast Group, which handles affiliations and national sales as well; Genesis Communications Network provides satellite delivery and streaming audio for the show. Unique in today’s talk radio landscape on multiple levels, the three-hour (9:00 am – noon PT) project is female-targeted (rather than geared to angry, white men); it is non-political; and the host, while still relatively new to radio, has amassed sterling accolades on several entertainment platforms. In other words, Henner is anything but a one-trick pony. Perhaps the greatest surprise she encountered in the first year of doing the radio program is the extent of her love of it. “I knew I would like it a lot but I am really passionate about it,” she stresses. “I feel like people are letting me into a very ‘cool-kids’ club.” Missing from Henner’s daily radio program though is a political concentration because, “That’s not what I am here to do,” she points out. “I love to talk with celebrities, do lifestyle things, and play ‘Defend Your Gender.’ I try to stay away from politics and religion.” Each of her programs features as many as seven guests and Henner actually enjoys doing the copious associated daily research. “I can always find that little nugget from their past or a connection I might have with them,” she boasts. Some of her peers might be afraid to do a daily radio show because, as Henner opines, “They feel it is a lot of work and takes a lot of energy. It is hard work and you have got to love it.” Paramount in her role as a host is to be a good listener, especially given that “things happen so quickly and you don’t want to miss” anything important. Recalling what she stated as a keynote speaker at last month’s NAB, Henner says, “Of all the great things I love to do in my life, radio is the best of all of it. It has the immediate feel of a live performance; the personal expression of writing a book; the storytelling of a movie; global reach of a long-running sitcom; and it is like opening night on Broadway – every single day. This is what I get to do.” Each morning, she wakes up wondering how she “can make my show better” and as soon as she gets off the air, she maintains that she cannot wait until the next day’s broadcast. One of the best pieces of advice Henner has received so far came courtesy of veteran talk host Dick Cavett, who suggests she view on-air discussions with guests as “conversations” rather than “interviews.” Another popular talk host’s name was invoked when Henner mentioned her fond admiration for David Letterman. “I did his show many times and he was very good at ‘riding the wave,'” she remarks. “He might have had questions [prepared for him] but being able to be “in the moment” made him such a genius. He did not let anything slide.” Henner’s candor in Thursday’s 20-minute hivio conversation with Ramsey is consistent with her radio persona. “I had a baby on national television, so I have no secrets,” she proclaims. “You can ask me anything; I will talk about anything; and I will remember anything. I am genuinely interested in people.” Her unique memory capabilities have been frequently chronicled, including several times on “60 Minutes” and Henner comments, “Developing a stronger autobiographical memory is really your [best] line of defense against meaninglessness that you have. You can figure out what is from your past; how to bring it to your present; and how you can inform a better future. Everything you have been through is already on your emotional hard drive. Whether or not you acknowledge it, it’s making you behave in certain ways.” Anticipating there is “a whole new frontier” for her, Henner declares she, “loves radio,” and moreover, she is “obsessed” with it. Also featured on Thursday’s agenda were similar one-on-one Ramsey-conducted discussions with Scott Baker of The Blaze; Mike Schneider of TV Guide; Jake Shapiro of PRX; and Richard Laermer of RLM PR; hivio 2015 concludes later today (Friday, 6/5) with another four-hour block at the Improv.
I Want to Be a Part of it, New York, New York. Radio consultant Holland Cooke is gearing up for next Friday’s Talkers New York 2015 conference at the India House Club in Manhattan’s Financial District and he has some thoughts about how to maximize your trip to New York, from a professional standpoint. Take it from an intrepid radio pro, there are smart ways to get the most out of industry events such as this one. Cooke says, “”Reach out NOW to those you’d like to tag-up in New York, and schedule some face time. If it’s only a latte at that Starbucks diagonally across from India House, you’ll have a more meaningful conversation than ad hoc in the din within. I’ve been scheduling my Talkers time for weeks now.” Read more from Holland Cooke here.
iHeartRadio Reports 70 Million Registered Users. The digital audio platform of iHeartMedia is reporting it has hit the 70 million registered users threshold. Claiming it has reached that mark “faster than Facebook or any other digital music or streaming service,” the company says “its digital footprint alone spans nearly 80 million social media followers across its network, significantly more than any of its competitors and are integrated on 60+ devices (and counting).” iHeartRadio says that its social engagement (Facebook and Twitter) share is 68% — topping Spotify’s 17%, Tidal’s 12%, Pandora’s 2% and Rdio’s 1%.
Odds & Sods. The newest podcast from Compass Media Networks features college football and NFL star Craig James. Titled, “Airing It Out with Craig James,” the weekly program will deliver “unique and compelling insights into the world of college and NFL football.” The inaugural episode features guests Art Briles – Baylor University football coach – and NFL legend Roger Staubach…..KFI, Los Angeles’ Mo’ Kelly show will broadcast live from Comic-Con at the FOX Sports Grill San Diego on July 11. The Mo’ Kelly show airs on the iHeartMedia news/talk station Saturdays and Sundays from 6:00 pm to 8:00 pm. Last year’s broadcast from Comic-Con featured Orlando Jones of “Sleepy Hollow,” Iron Mike Tyson, AMC’s “Halt and Catch Fire” creator/executive producer Christopher C. Rogers and even Comedy Central’s super duo of Key & Peele…..NFL Hall of Famer Sonny Jurgensen will be back as part of the radio play-by-play team for Washington Redskins Radio Network broadcasts this season. Red Zebra Broadcasting says Jurgensen, who’s been part of the team’s broadcasts since 1981, will join Larry Michael and Chris Cooley in the booth.
Jim Blasingame Wins Axiom Business Book Award. Talk show host and small business and entrepreneurship expert Jim Blasingame is being honored with the Axiom Business Book Award for his third book, The Age of the Customer: Prepare for the Moment of Relevance (SBN Books 2014). The book has reportedly sold 40,000 copies. Blasingame, whose radio show is nationally syndicated by Talk Shows USA, states, “It’s a great honor to receive the Axiom Business Book Award. Of course, we’re also pleased at the response from business leaders of all size companies, who’re using my book to transport their businesses to where their customers already are, in the Age of the Customer.”
TALKERS Weekly Affiliate Roundup. The Dave Ramsey show is now airing on Salem Media Group–owned KYCR, Minneapolis “Business 1570” from 5:00 pm to 8:00 pm daily…..“Legends of Success with John Resnick” joins the lineup at KJCE, Austin, Texas and WBCF, Florence, Alabama…..Tim Constantine’s “The Capitol Hill Show” is now airing on WMEX, Boston in the early evening slot.
From Sardi’s in Times Square, Joan Hamburg’s Tony Awards Show. Pictured here at the iconic New York City eatery is WABC, New York personality Joan Hamburg (right) with actresses Tyne Daly (left) and Harriet Harris (center). The two are up for Tony Awards for the show “It Shoulda Been You” and joined Hamburg for the special event that took place on Thursday (6/4). The taped show features special Broadway guests who dropped in to talk about their shows, nominations, and much more. One hundred of Hamburg’s loyal listeners joined her for the sold-out production. It will air on WABC on Saturday from 1:00 pm to 3:00 pm.
2016 Presidential Prospects Top News/Talk Story for Week of June 1-5. The growing list of candidates for president in 2016 – including the just-announced candidacy of Republicans Rick Perry and Lindsey Graham – was the most-talked-about story on news/talk radio during the week. At #2 was ISIS’ military progress in Iraq and Syria. Coming in at #3 was the Hillary Clinton email issue followed by the expiration of the Patriot Act tied with the TSA failing the explosives detection tests at #4. The Talkers TenTM is a weekly chart of the top stories and people discussed on news/talk radio during the week and is the result of ongoing research from TALKERS magazine. View this week’s entire chart here.
Bubba the Love Sponge Returns to Tampa on WHFS-FM. Via an official press statement issued today (1/5), Beasley Broadcasting confirms the news a local advertiser spilled on Friday about the return of Bubba the Love Sponge to the market on the company’s newly-acquired Tampa signal WHFS-FM. The former FM sports talk outlet will make public its new format at some point in the future but after signing on this morning at 6:00 am, Bubba the Love Sponge announced the station would air his program continuously for the next few weeks or so before debuting WHFS-FM’s new format. Bubba aired in the market on Cox Media’s crosstown WHPT “102.5 FM The Bone” before being ousted from the station in August and replaced by then-afternoon drive host Mike Calta. The move pits former station-mates Calta and Bubba against each other in mornings. Last week, Ker’s WingHouse debuted Bubba Style Wings and announced Bubba’s return to the market on WHFS-FM. Beasley says listeners are still voting for their format choice at the station’s website — thenew98.7.com — and the new format is expected to be announced within weeks.
Howie Carr’s New England Regional Juggernaut Keeps Gaining Steam – New Stations Signed and GSM Brought Aboard. The independent talk radio network recently launched by Boston-based, multi-media icon Howie Carr continues to gather major affiliates throughout the six New England states and sets a shiningly optimistic model for what can be created and accomplished in the often-tenuous arena of regional spoken-word syndication. The latest stations joining the Howie Carr Radio Network (HCRN) include WCAP, Lowell, MA (which started last week); WBEC, Pittsfield, MA (which starts tomorrow 1/6); and WFEA, Manchester, NH (which begins on 1/19), bringing the total number of affiliates to 19. Also, HCRN VP of sales & marketing, Kathy Carr announces the hiring of sales heavyweight Ross Holt as the company’s new general sales manager. Holt, who is moving back to his home in New England, was most recently part of the sales team at CBS O&O WINS, New York and has sold Carr in the past while at WGAN, Portland. The sheer power of the loyal-listener-generating Carr program in market after market across the Northeast segment of the US has proven to be a strong advertising lure for such regional blue chip sponsors as Subaru of New England and a long list of others. Commenting on the growth and impact of the Howie Carr show in its independent regional incarnation (since the host left Entercom’s WRKO, Boston this fall and replaced it as his flagship with Beantown’s reconstituted WMEX) TALKERS publisher Michael Harrison states, “It is not easy doing what Howie and Kathy Carr are accomplishing with this network – and that is creating a pertinent local flavor that resonates with listeners across a very large and diverse expanse of markets and works in terms of both ratings and revenue. There are lessons for the industry to learn from this extremely interesting endeavor. Of course, you must have the right host to pull this off and this guy is a true rarity. If New England were to suddenly declare itself a single state, Howie Carr would be elected its first governor.”
Boston Herald Radio and WMEX, Boston Share New Morning Show. The morning drive show on the Boston Herald’s digital platform – Boston Herald Radio – is now hosted by Adriana Cohen and Tom Shattuck (pictured here). The program airs from 7:00 am to 9:00 am and is also being heard on Blackstrap Broadcasting-owned and Wallis Communications-operated WMEX. Shattuck, who also serves as executive producer of Boston Herald Radio, says in the compay’s paper, “We’ve always been straight with our audience. This is the city of Jerry Williams, Gene Burns and David Brudnoy. We are lucky enough now to have an opportunity to be custodians of those same airwaves and we will do it humbly, tirelessly and with the utmost respect for the listener.” WMEX grabbed longtime Boston afternoon personality Howie Carr after his contract with Entercom’s crosstown WRKO expired in November.
WLS-AM, Chicago Breaks Up Proft and Wolf Morning Show. As tipped by Chicago media writer Robert Feder, the morning show at Cumulus Media’s news/talk WLS-AM, Chicago will be hosted by Bruce Wolf solo after the company parted ways with Dan Proft. Wolf and Proft had worked together at the station, first in middays, before moving to mornings after longtime duo Don Wade and Roma exited due to Don Wade’s health issues. (Wade later died from complications from a brain tumor.)
Former WSJRN Programming Evolves and Continues as Compass Media Networks Content. As TALKERS reported last month, Compass Media Networks is advancing the business news radio programming abandoned by the Wall Street Journal after the latter chose to get out of the radio business at the end of 2014. Today, Compass debuts breaking business and money news under the “Your Money Now” brand. The one-minute reports are fed to affiliate stations twice per hour at :20 and :50 from 6:00 am to 7:00 pm ET Monday through Friday. Anchors for the reports are former WSJRN morning drive anchor Jennifer Kushinka, former CEO Radio, WSJRN and BusinessWeek Radio anchor Ray Hoffman in middays, and former WSJRN evening anchor Bruce Vale in afternoon drive. Also, Compass is continuing the morning drive program hosted by Gordon Deal for the WSJRN as the show is renamed “This Morning, America’s First News with Gordon Deal.” Compass says the show continues to air on some 250 affiliate stations as well as on numerous digital platforms.
Seven Salem News/Talkers Assume ‘The Answer’ Brand. Adding to the number of Salem Communications news/talk stations already using “The Answer” brand are seven more of the company’s like-programmed outlets, including: KCBQ-AM, San Diego; KLFE, Seattle; KZNT, Colorado Springs; WGKA, Atlanta; WGUL, Tampa; WGTK, Louisville; and WLSS, Sarasota. WNYM, New York began using the “Answer” brand in 2012. Salem SVP of spoken word formats Phil Boyce comments, “We discovered that our listeners are information seekers, always craving the answer to every possible question, from why am I stuck in traffic to who won the November election. This branding allows our stations to cut through in markets where they are competing with more established stations that only need their call letters as a brand. We needed something more, and this works.”
‘The Union Edge’ Radio Show Releases New App. Pittsburgh-based radio talk show “The Union Edge,” hosted by Charles Showalter with executive producer and co-host Angela Baughman and co-host/communications director Brittany Sheets, unveils its new app created with partner Jack of Trade Apps. The new app allows listeners to stream the daily 12:00 noon to 3:00 pm ET program live as well as listen to podcasts on demand and “demonstrate some serious solidarity by sending in photos showing their everyday union actions.” Listeners can also use the “speak out” voice recorder function to react to the show and expand on their thoughts and feelings about issues that impact their lives. Jack of Trade Apps president Andrew Davis says, “What this app does is allow union families to organize in a way that surrounds this already great programming that heralds issues that directly impact them. We are excited to be able to give them such a valuable tool, to help them achieve their growth and spread their message in a new way.”
Odds & Sods. Former Arkansas governor and one-time presidential candidate Mike Huckabee gives up his weekend talk program at Fox News Channel. Huckabee – still heard on the radio via his “Mike Huckabee Report” daily commentaries now distributed by WYD Media – says he’ll make an announcement about whether he intends to run for president in 2016 sometime in the first part of this year…..Salem Communications expands the “Cats Roundtable” program heard on WNYM, New York “AM 970 The Answer.” The Sunday morning show, hosted by New York City businessman John Catsimatidis is now heard from 8:30 am to 10:00 am…..KBGG, Des Moines sports talk host Larry Cotlar exits the station as it transitions from “The Zone” to “The Champ.” Cotlar’s show is being replaced by CBS Sports Radio Network’s Doug Gotleib…..Dr. Frank Wright exits Salem Communications where the former National Religious Broadcasters chief served as president and chief operating officer. Dr. Wright will receive his salary in the form of severance for the next six months…..Beasley Broadcasting’s WHFS-AM, Tampa drops the CBS Sports Radio Network-programming on the station and flips the station to business talk using programming from the company’s WSBR, Boca Raton, Florida. Beasley acquired the station from CBS RADIO in a swap.
St. Joseph, Missouri’s KFEQ Joins “Market Rally”Affiliate Network. The daily analysis of farm commodity markets airs 4:06 pm – 5:00 pm on the Eagle Communications-owned talker. KFEQ general manager Gary Exline comments, “Ever since Farm Journal launched ‘Market Rally’ [in March 2014], we have taken a wait-and-see attitude [but] when farmers in our region started asking for it – we knew we couldn’t wait any longer. ‘Market Rally’ is the perfect programming solution as we set out to reboot our afternoon drive lineup.” According to Farm Journal Radio vice president and general manager Mark DePrez, “Market Rally” host Chip Flory “already has more than 6,500 Twitter followers, a clear signal that farmers and ranchers are highly engaged in his entertaining and educational approach to the markets.” When Illinois outlets WRHL, Rochelle and WAIK, Galesburg begin carrying the program early this year, “Market Rally” will be heard on 42 affiliates in nine states.
2015 International CES; What Next? Radio consultant Holland Cooke is in Las Vegas covering the huge 2015 Consumer Electronics Show. As Cooke notes, video and pictures are paramount to viral media. “Major recent news stories demonstrate how profoundly technology impacts our lives. More pictures and video are now shot with smartphones than cameras. When Eric Garner’s take-down for selling untaxed cigarettes turned fatal, bystander video turned an already painful national conversation about race even more-painful. When video of North Korea’s hack attack against Sony Pictures spooked movie theaters, The Interview was released on YouTube.” Read more here.
Sabo: Biggest Trends Affecting Radio. Media consultant Walter Sabo, in a piece published in TALKERS today (1/5), writes about seven trends in media that have been influential over the past year and will continue to be so through 2015. From NextRadio to sports talk on FM to online audio platforms, Sabo suggests avenues radio practitioners can explore to build new and profitable content ventures. Read Walter Sabo’s entire piece here.