> That's the way a company shows profit--fire folks, drop > artists, increase your own pay, but at a percentage that > won't make shareholders freak out.
Bertelsmann isn't a publically traded company. The only 'shareholders' in this case are two non-profit foundations and the Mohn family (which was responsible for the transfer of shares to the foundations in the first place). Strange as it may seem, not all companies (large or small) are completely lacking in for lack of a better word - culture. > The problem is, of course, there is no musical outlook, no > creative outlook to say, "are we stronger musically? Do we > have a broader range of acts to complement each other > and create a powerful entertainment entity?" These are > the questions that the financial bottom line will not answer. >From what I understand they have a long standing tradition of supporting the arts independent of profit. If I recall correctly their primary goal is to 'contribute to the advancement of society'. Not exactly the standard 'build shareholder value' mission statement. Independant of the above I wouldn't worry too much about this rumor though as it seems completely off base. - George
