Friday, September 25, 2015

Dark clouds growing darker...

It's a month before Xmas and the Pacifica unraveling continues. Can you hear the wolves? You should, a pack of them is gnawing at the door.

Here, in its entirety, is yesterday's PNB "Special Meeting". Click here and you will either laugh or cry, or both. Are you going to miss these meetings when reality reality scores a KO?

1 comment:

  1. If one of the favored revolutionary cries of coffee house leftists has long been ‘Up against the wall, Motherfuckers’, then, well… Pacifica is there.

    Armanino will not consider opening the FY2014 Audit until past due amounts of $10,000+ are paid in full.

    At present, the $25,000 required as a down payment for long-overdue elections is not available.

    Armanino cannot begin the FY2014 Audit, already long overdue with respect to regulatory requirements and for any hope of even a fraction of the dreamt-for CPB monies, until stations provide the necessary documents: This process is no more than 70% complete at best, and KPFK at present cannot project completion of its information for several weeks – quite possibly as much as six weeks.

    Armanino has stated that it has no present interest in presenting a bid for conducting the FY2015 Audit, given its experience to date with respect to working with Pacfica.

    KPFK hopes to secure what is characterized as a bridge loan, but appears to have no hope of having the money to pay its end-of-month payroll.

    WPFW continues to be unable to meet its financial obligations or to present its financial information necessary to begin the FY2014 Audit.

    WBAI has no ability to present the necessary information for the FY2014 Audit to begin, and was nearly taken off the air by the Empire State Building only a few days ago for its failure to make even a token partial monthly payment against its enormous and ever-mounting debts, last reported as well north of $600,000.

    The National Office is $400,000+ in debt, and has no means to pay for health insurance for the stations’ employees, for the simple reason that the stations have failed to be able to pay their central services due the National Office for that and other purposes. Pacifica’s health insurance providers have formally stated that due to Pacifica’s past failures they will not be able to continue coverage if payment is not made in full, promptly and on time.

    Against all this, there was a sudden sense of urgency to pass a motion to investigate whether or not it might be possible to secure loans, possibly secured loans against real estate.

    Many members expressed astonishment and dismay that they had arrived at this point, and implied that they had been ill-informed by their executive director and Pacifica Management. At that point one member of the board pointed out that that was not the case, that they had been fully informed of the gathering catastrophe for a minimum of two years, probably more, that they had no basis to claim they had been misled or been left uniformed, to which the normally very soft-spoken John Proffitt said simply, and with some force, ‘Amen!’

    Amen, indeed.

    ~ ‘indigopirate’