In One Eye

Wednesday, April 13, 2005
 
This story has all the elements that are bound to catch my attention: money, boomers, and fundamentalism.
The stock of Salem Communications Corp. rose sharply Tuesday after Stanford Financial Group raised its investment rating on the religious broadcaster, saying new stations will provide a competitive advantage.

The upgrade raised the stock's rating to "buy" from "sell."

... "As the dominant religious radio broadcaster, Salem's financials are less tied to general advertising demand than most radio operators," [Stanford analyst Frederick] Moran said in a note to investors Monday ...

Moran said the company has benefited from renewed interest in Christianity following the terrorist attacks of Sept. 11, 2001, and a backlash against indecency on the airwaves.

"Aging baby boomers are getting religion and turning to Salem for their radio programming," Moran said.
Ah, so that's the reason for the recent success of the company. With its time on earth growing shorter, my generation is producing more and more foxhole Christians—so much so that there's money in it.

For what it's worth, I again find myself out of step with my generation. I can't really say that I've felt any compulsion to listen to the soothing message of Christian radio as my mortal span decreases.