Pacifica's Finance Committee confusion...

A BlueBoard poster who signs in as Steve added the following to that forum this evening Hepointed to one segment as being particularly absorbing. I have extracted it and you can hear it by clicking on the audio bar below::

I posted the earlier thread about the firing of Raul Salvador, Pacifica's CFO—taken from part 1 of the Pacifica Finance Committee meeting of 1/14/14. Raul should change his first name to "Roll" as his appears to be the latest head to roll (although his head is rolling down the bowling lane neck and neck with bernard duncan, the monday-fired GM of KPFK).

if one goes a little further into the audio of part 1 of the Pacifica Finance Committee meeting of January 14 2014, you will hear a member named "Jim" from KPFT expressing a great deal of anxiety about whether the errors and ommissions policy premium is being paid. This policy is a liability policy that protects the PNB and ? the LSB members from liability due to their actions/errors and ommissions on these boards. Jim, the finance committe member, appears quite anxious that the premium will go unpaid, the policy will be allowed to lapse and that they will be doing their magic on the boards "bare." The discussion that ensues is a real nail biter. One can hear the gastric juice flowing as they speak.

Anxiety over whether the policy that covers these rascals from liability no doubt indicates that there is a whole lot more going on that we don't know about, that is shaking these directors at their core. One also gets this impression when the members of various cmtes lapse into a type of code talk in which they speak (on the public stream) of matters in a telegraphed and clipped fashion so as to be able to talk to each other without tipping to the public the full story. Partial sentences, veiled references, lots of pronouns—you get the picture.

To hear all this, go here to kpftx.org, find the Jan 14 2014 Finance Committee meeting, load up part one and begin your listening displeasure at 3 minutes and 10 seconds. I would have my seat back up and my tray table locked before listening.

After several Valium deficient minutes of discussion, a motion is produced and passed, that asks the pnb to tell the insurance company to notify the finance cmte members after the policy lapses—quite stupid since the notice to the members of the cmte needs to go out from the insurer when the premium payment is late, but before the policy is cancelled.

Rather like doing the sponge and needle count after the patient is closed up, extubated and on his way to the recovery room.

Passing a motion to let themselves know when the policy lapses, versus when it is about to, might partly explain how these neophytes and very unsophisticated folks have buried Pacifica in debt.

I guess we got what we paid for.

Steve