Pacifica's interim Exe Director wrote that it is ok to finally make public his thoughts, words, and findings - about the "yuge" debt facing our Pacifica network and thus also each radio station therein.
So quotes have been selected and are presented here - to help inform all of us a bit =
all the STAKEHOLDERS & DONORS of KPFK-
past and present ones, [who also might be called 'investors' and loyalists] can check further for more updated info as it emerges elsewhere.
here are a few quotes out of a very long letter:
“Pacifica has been kicking the can down the road for several years and has accumulated large amount of debts....
“Pacifica is asset rich but cash poor. It must sell or swap some of its assets, whether real estate or signal license to generate necessary cash that we need….
“the local Board has chosen to conduct these deliberations in Closed Session, meaning in secret. This gives them cover…. the Board has chosen to conduct these deliberations in Closed Session, meaning in secret. This gives them cover……..
“point where Pacifica’s interests in its assets are in imminent danger of being seriously damaged. After Jan. 8th, 2018, ESRT can record an abstract of judgement any time and perfect their lien on California properties. This will include both the KPFA and KPFK buildings and the National Office building. ....
“Our bank accounts are already under threat of seizure at ESRT’s discretion. We had earlier provided a legal opinion from bankruptcy attorney…. some…. still hoping for getting a loan to pay off the ESRT judgment…..
“It will be difficult to get a loan when there is a lien attached. It also seriously weakens our negotiating ability…….
“We are delinquent in our Audits, both for Financial statements and Retirement Plans….. Our book-keeping and reporting is materially deficient where we are not able to produce monthly financial statements in a reliable and accurate manner….
“Several stations do not have qualified accounting staff…
"our business does not produce a cash surplus to service interest or debt repayment. A few stations do not have working capital to sustain their operations….
“We have been very alarmed and concerned, for quite some time, about the dysfunction and paralysis…..
"PNB has not taken any action so far to protect Pacifica’s assets……
“More than 120 employees and their families will be affected if Pacifica is not able to recover from the present crisis…. ###
then another person involved in Pacifica wrote:
“PNB did not get to the bankruptcy motion last week so no action was taken on it....
"80% of our money comes from listener donations ....
another wrote:
"...Pacifica agreed that WBAI would pay...the Empire State Realty Trust steeply increased rent." True. The agreement was made by Pacifica, not by WBAI [NY] .”
----[~]----------ooo----------------------///..............
for any readers here, who are unaware of the crisis that all Pacifica [5x] radio stations are facing because of the WBAI [NY] station's plight with not paying it's prior debts - and letting things escalate into serious financial circumstances - do check the internet web for other sources, tho few, that may have more detailed information.
The many details, specifics and the extreme difficulties are not being repeated here, purposely, to avoid then eliciting the usual trolling, and mean-angry-people responding here.
An article has appeared in the Wall Street Journal recently.
More information may also be found at pacificainexile.org that contains many more relevant specifics, with comments contributions also possible there.
an appropriate google image
It is important to now question all those - who are currently or have been on all local boards, & the main PNB nat'l board, & the local staff, & managers ...and all who are 'in the know'... or should be so.
Members can no longer be told it is not our business as the Pacifica Business seems to ready to fall apart. We are the contributors that have sustained it so far.
All in Pacifica, in KPFK, are now facing the serious financial possible downfall - of all/any the connected radio stations - because they are each tied together in this 'network'.
So if 1 goes down,or is drowning, then the others also will sink along too - or are merely being choked by the mess - tho created by a few, while others seen to have "never noticed anything " before the collapse. huh?
no one knew ? no one who held official positions cared or asked or noticed ? no one was told the problems existed ?
How could that happen ????? then or now ?
ththanks, google images !
['gasp!!! glug !!! owch !!! noooo!!! ]
We had no idea that our donations were going to be required to help pay for those far off debts & mis-managements... tho some were done in the past and others may have been a lack of accountability, transparency, accountability by any/all radio stations - we are part of - currently too.
The dangers of KPFK's property in LA being used as collateral for any loans that were not created by LA, or KPFK, but by far away decision-makers,is really
scary !
Any concerned shareholder, donor, listener...= all contributors, volunteers, interns, and concerned-citizens might want to call the radio station, write the station managers via email or hard-copy mail, or write news reports to inform 'all those who need to know'.
It is not just the cash, money, and donations that are at issue here.
The whole management and boards' oversight has apparently been negligent - for all to get to this so serious condition...
And each radio station nationally has also inadvertently or even deliberately colluded =
yes, by not caring or noticing what their 'neighbor-sibling-neworking-station' was or was NOT doing...
as in any station that was not doing proper or professional good business practices...
did no one notice ? that fun image and demand for separate "independence" was claimed. But now is not possible or being denied - when all Pacifica radio stations are apparently tied together - if the Foundation network is impoverished by any 1
or more radio station....
[and who knows when this actually began, anyhow? ]
The selecting of a representative to a local board does not measure their competence or their reasonable decision making - nor their fund raising abilities either.
[but local LSB people are selected mostly - tho not by any majority of KPFK members, like you - who listen, pay up, & volunteer at any of these radio stations, but by a few selected nominators and friends, agreers, the so few that are needed to become a LSB member ! ]
& check out the bylaw-rules for how this done, to see the lack of any vetting, any expertise required, or any accountability demanded to be on Board ...
how few members vote or even know what LSB does or doesn't do !
Those who claim to run the 'show' do NOT actually represent us, us = the donors/members of Pacifica / KPFK ...as they do not communicate with us, nor do any LSB or PNB members -ever- inform or ask us about any plans, actions, programs... or any of the decisions they say is only theirs to make, including incurring debts... hmmmm
Nor does is there any transparency of what any LSB persons are doing... nor do they show they even care that we exist - past their being voted "in"... or past our dollars being sent in to station.
Has Anyone ever receive a postcard ? a phone call ? an email ? or any 'report of what is happening to your radio station .... to the listener' ? by anyone in management ? or LSB position ? Anyone ? Ever ?
When all falls out/ down/ or breaks apart, then all who want status, power, position do the blaming, make hard accusations, do harangues, hide behind denials and even expose their meannesses - all yuk emerges - and floods much communication that hides secretly inside that organization.
That is happening now at Pacifica.
And if we, the KPFK PUBLIC members, are not informed at all, but we are kept a far distance
[as long as our credit card & checks clear and ur money is taken], because we are irrelevant.
We are not connected nor valued.
Yep. We are uninformed of the dangers, the decisions, the actions taken, the programmers allowed 'in' to on-air-access, et al.
All that separation of membes then creates the silence and secret world - that has also allowed such dangers to KPFK et al to happen.... finally...as is now.
Not even KPFK's direct actions or inactions were mentioned, tho from anyone in there, it seems all staff, management, boards were too neglecting to see or care - what [else] could bring them down, down, down !!! too.
Like the question about sexual abuse in news now, that is & has been always easily denied, & not 'seen',& not reported, & not noticed... until....that silent collusion by negligence and DENIAL then helped form this dire situation that has culminated...
= in the same ways KPFK & Pacifica has a huge debt, a huge bill, & without funds to pay it without causing harm or losses.
The lack of professional expertise of all those who claimed power/position/officialness, now becomes noticeable - sadly...tho only when crises and unseen-unexpected BAD changes erupt.
As they have NOW: at WBAI, and thus slipping over to KPFK... as well as KPFA, KPFT and other Pacifica stations & affiliate ones too, perhaps.
As in "we are one" but not for benefits or progress...and we thus all together "sink or swim".
It is long past time to learn how to swim, by now, so we/they are not well enough to not drown....now.
[gurgle ! gasp !]
KPFK is our local radio station, for a little while more, maybe. We, public members, donors, have not heard or been informed about any dangers past the usual local funding ones.
The current overall-network financial problems are serious and need to be exposed, solved, corrected.
Any such circumstances be corrected & prevented.
Tho who knows ? It may be later than curable or solvable now without serious damage,such as in mortgaging KPFK properties to pay others' debts, loans...or endangering what we thought 'was OURS' for so long.
sad. bad. secretly denied. games people played. sad.
(c) bt & rr 2018
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