Recently, there was news of significant layoffs and major restructuring at a number of radio conglomerates (Clear Channel, CBS, Emmis) and the leader in department stores, Macy’s. There is a connection because both business models are dinosaurs in this modern age.
Radio listenership is flat, thanks to competing modes of audio content delivery (satellite, Web, mobile/personal devices). Department stores have been whacked by the “big box” stores, who boast lower prices and larger selections.
Once people adopt a new way of conducting business, they don’t go back. “Old school” businesses begin cutting back to make ends meet. At some point, they can’t cut anymore, and they’ll go out of business.