KPFK's property is being collaterized for WBAI NY's debt

These are not  "normal " times. 

The concern is about "if Pacifica is going to survive", not if KPFK is going to continue to operate - as a non-profit entity, a corporate entity....

....then some better austerity must be enforced & established over a longer time.  There must be a specially-designed and designated Plan /  budget revisions / a well-thought-out program / & accountable OVERSIGHT - by Professional management people. 

Those experts, not just a crony-selected board member, but those who must be devoted to Clearing this dangerously overhanging debt – and insure that they CAN generate monies to pay what must be paid ! Past this recent loan[s].

And also professionals must be fully and actually Responsible, & Accountable as management people, not just be another set of those talkative people who are casually voted into LSB, PNB or even into interim positions. 

For these then do-know-how-people to then focus upon all & any activities that may bring back stability and safety.   

Especially to the radio stations that did not either ‘know’ or care or speak or even plan-ahead to the $$$ problems that WBAI [has caused to emerge…as is happening Now !] as it is legally spreading their misery & debt to all other radio stations. 

Apparently none are independent but have never reported that bit of vital information to their funders - before this catastrophe was exposed.

This would include all monies spent to be pared down, and austere budgets created -     to free up need $$$ funds to pay back any loan[s].... or to pay for other things that haven't been getting paid that must still be paid. 

Who knew ? 
Who didn't tell ? 
Who hid the dangers of not being able to pay their own rents ? 
Who signed a lease that was unsustainable and why was it hidden so well until 2017 ?

Neither the Executive Director of Pacifica - the 'umbrella' organization [which is a vague and apparently un-accountable-to-the-stake-holders-anywhere ] part of this problem - Pacifica's ED nor the CFO have been watching over or supervising each station's actions re their budgets nor for any austerity measures.

If Greece, Spain and other entities had to do so, why not each station under Pacifica?

Some people have been pushing for the central organization to file for Chapter 11 bankruptcy. While the PNB has been pushing for a loan collateralized by real estate. KPfk'S REAL ESTATE, that is. 

Leadership may begin with a competent, more expert & experienced with financial management PNB.  and yes, it's their job and nobody else's to lead the Pacifica foundation = safely, soundly, intelligently, and with fore-thought & planning, for emergencies as well.

But: if  any and all PNB members, even as they change in the group for themselves....if they have been playing dead but still power-filled with status, and yet dragged their oversight job - those without doing their official duties, as is apparent now, they should be not just reprimanded but questioned & be investigated for lack-of-capacity or lack-of-being-responsible-to-all-5 stations....

...and as the current PNB members don't take the necessary positive steps to bring financial health to Pacifica, well, then those who have allowed such chaos and $$$ debts to occur should be eliminated -- and penalties imposed correctly, legally, on those who signed & agreed to the huge debt be required.  

Plus anyone in any official position in this organization NOW, should correctly now place blame -  must place it squarely on the PNB members past and present - and not allow this vague "we kno nutin" game to continue... 
so stop!  Now.

PNB needs oversight and to be held accountable, even when the present members prefer to claim no-knowledge and no respon-sibility for those who created that WABI huge debt.  

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Serious, Verifiable, Responsible actions are long overdue !!

[[Additional tid-bit of info:
The recent PNB elected Nancy Sorden, who is Director from WPFW, as their pro-tem Chair, including all powers of the chair, etc.  She replaces Jonathan Alexander from KPFK, who had been the just previous chair. ]]

While its handy to be able to disassociate each person who may be now wondering “what happened at WBAI to create this enormous debt" that is now affecting every other radio station, INCLUDING KPFK mostly- KPFK, whose property is being now used as collateral for the debt/loan/monies owed, not here, but
in NY… 

then the reality is that the so-called “democratic governance” claimed that runs in Pacifica,[ the same Pacifica in which there were various un-admitting and are still un-accused people too]- is that those who were either the Exe Directors of Pacifica or the then GM of WBAI – be declared RESPONSIBLE for their actions and mis-deeds. 

So all and any of those who must have participated in some formal, legal way too .

Who decided and participated to agree to such a big bill & then debt ? Who all, more than 1 person for sure, thus stuck WBAI and KPFK [ + 3 other stations’ donors & stakeholders and all their budgets, too]    passed  on their mis-management with this lease ?

                
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And therefore it is a FORCED-to-be-shared responsibility now, but HOW TO to figure a way through it has not been found nor discussed publicly to those who PAY !

There are some hoped-for loan possibilities, a few leaks say.   

Then the short-term PROBLEM is getting WBAI [it should not be KPFK’s problem in reality, but we are sunk -tied-into their morass, their black-hole-with-no-exits-no-way-out– of their legally-enforced summary judgment- and apparently that problem that must be paid off by KPFK too.

So other essential expenses, such as getting the audits of ea station done, and has been fund-$$$-raised to do, are still awaiting the order [whoever all has the power to enforce that all legal rules be followed and done ] so that all the Pacifica stations do not lose their tax exemptions – as early as this spring.  whew !

How dumb or lax it must have  for those who signed and agreed to such high-priced leases been ? 

And they are not named or identified nor punished nor reprimanded ? huh? 

And how many of KPFK’s stakeholder/ donors/ payers even know of how their monies are being wasted ? [the word "spent" is too tame a word for what has and is happening - to any donations made to KPFK, still now ]  

           
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We are Outraged and feeling used, mis-used and
called it 'abused' financially too, to have to help pay for WBAI's or Pacifica's mis-deeds and stupidity or false-hopes-of-riches to be able to pay for what they apparently could have realized was not realistic or practical.

WE includes all listeners, besides the paying stakeholders, investors, and donors, past and present and future at KPFK.

We includes all who have worked, volunteered, recommended and praised KPFK, with the false assumption that it was an entity responsible for itself, not for 5+ others too. We have not been informed nor warned.
                
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We wonder what can happen to the property that houses KPFK now might be mis-used, or sold, or more loans needed to use that collateral, as a back-up for debts created a while ago and far away ? 
                 
How safe is KPFK anyhow now? Who will tell ? or Who Knows ?  


© mm 2018