Carbonite Pays a Price for Dropping Limbaugh

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The Daily Caller is reporting that Carbonite has taken a significant stock price hit since CEO David Friend came out on Saturday to dump advertising on Rush Limbaugh’s show.  Call it bad luck, or call it “El Rushbo’s Revenge,” but whatever you call it, it’s a well-deserved smack-down for cowardice by a sponsor.  Of course, as it has turned out, Sandra Fluke is a hardcore leftist activist, and more and more, this is looking like a plot into which Limbaugh stepped, perhaps as the unintended target.

From the Daily Caller article:

However, it hasn’t done much to contribute to his company’s stock price. Since the market opened on Monday through its close today, Carbonite stock (NASDAQ:CARB) has plummeted nearly 12 percent, outpacing the drop of the NASDAQ index in that same time period by nine-and-a-half points. It was also one of the biggest decliners on the NASDAQ on Tuesday.

Some will consider this justice, but frankly, I think it should serve as a lesson.  Even publicly traded companies ought to be careful about dumping ads from the most popular talk-show in the land, and certainly not in the angry tone that David Friend used in his statement Saturday.  I think that the fact that he did so while acknowledging that Limbaugh had already apologized probably explains it.  Nobody likes to see that sort of ridiculous, overbearing reaction. It gives the impression of putting on a show.

 

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6 Responses to Carbonite Pays a Price for Dropping Limbaugh

  1. the unit says:

    There is a petition at whitehouse.gov where Panetta calls for removing Rush from Armed Forces Radio.  You can find it at following site:
    http://istandwithrush.org/thankyou.html 

    Look at bottom right of page to read petition paid by tax dollars.

  2. the unit says:

    Must admit…misread headline.  It was to Obama administration via Panetta.  Read later story that Pentagon won’t remove Limbaugh, for now.  Yeah…for now…and I really think Panetta would like to do so.

  3. Robin says:

    Mark, I hope my email to Mr. Friend had something to with it. Then again, it could have been the counter attack campaign I launched. LOL!

  4. the unit says:

    The very short comments section of this article suggesting a good time to buy Carbonite, leads me to wonder what is the Soros connection.  Somewhere I read David Friend has something to do with Media Matters. On the board of something like that.
    http://www.smallcapnetwork.com/Is-Carbonite-Inc-NASDAQ-CARB-Poised-to-Rebound/s/via/10/article/view/p/mid/1/id/110/ 

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