I think John Ketzenberger's article is way too optimistic. I think he just likes Jeff Smulyan, which is easy to do. He is a nice guy. That doesn't mean he is going to survive this downturn in the economy. Having enormous debt, then having to refinance in today's climate might be too much for any company. I see the same thing with SIRI. How they will be able to obtain financing for debt is questionable. These are serious times, and Emmis needs to tell the "emmis" (truth) to their stockholders and employees. Cheerleading is not going to get them through this economic downturn.