In the course of the CFO’s report to the Pacifica National Board last evening, 3 March 2016, Pacifica’s CFO, Sam Agarwal, stated that the audit now in progress formally raises ‘going concern issues’.
In audits and financial reports the formal initial assumption is that the organization can be expected to continue in operation for at least one more year without being forced into bankruptcy. If, however, the audit indicates the organization cannot be reasonably expected to survive another year without being forced into bankruptcy, the formal phrasing for audit and reporting purposes is ‘going concern issues’.
What the CFO is stating is that the auditors are prepared – indeed, are required – in their audit report to say that Pacifica cannot be expected to survive for another year without being forced into bankruptcy.
Thus the desperate scramble to come up with some measures that might make it possible for the auditors to not be required to make that statement, which is effectively a financial death notice.
As Brian Edwards-Tiekert states, there is no realistic hope or expectation that the measures thus far suggested or within the realm of possibility have any hope of accomplishing such avoidance.
Thus, in turn, the cheerful little tune with which I have taken the liberty of following the audio statements of Sam Agarwal, Pacifica Chief Financial Officer, and Brian Edwards-Tiekert, Chair of the Pacifica National Board Finance Committee.
Cheers,
~ ‘indigopirate’
(JustAListener)
ReplyDeleteSo they're doing the 2104 audit and can't see Pacifica surviving another year - wait till they see the 2015 numbers!
Oops, looks like this CFO may actually be doing his job, time to fire him!
(I thought the PNB was turning into an echo chamber, this audio confirms it literally has)
Yes, Mr. Agarwal may well have done a pink slip selfie.... honestly.
DeleteIts amazing to me how the PNB is just blatantly violating their own rules. Even the mob is more discreet than these guys. I think I finally get it now. A week before the WBAI meetings in January, the PNB ordered WBAI to seat Vajra who was the last alternate from 2012 to replace Janet C. and then claimed she had a one year term while they were counting the votes for 2015. If the election finished on time, she would not be on the board at all and should have been off as soon as the election finished.
ReplyDeleteThey barred the 2015 directors from participating as non-voting members and tried or did specifically seat Cerene as the sole director (the audio is unclear to me) and had a motion pending to conduct LSB elections by email with ballots to be counted by Terry Goodman at KPFT. I just typed that and it still doesn't make sense to me. The one good thing is folks at KPFK and KPFT objecting strongly to the blatant BS. Its very revealing to me that they argue over the agenda and minutes. It shows that they are not talking to each other beyond the meetings themselves.
I've said it before and will say it again. Pacifica gets away with their corruption because they are so meaningless and under the radar that no one even knows they exist.
ReplyDeleteSDL
You're right SDL. I'm just amazed at the lengths they're going to maintain control.
DeleteThis meeting is a perfect example. They open up with arguments over the bogus affiliate directors. They shut out the 2015 WBAI directors which goes against their own practice, make an exception for Cerene and then try to setup a election for WBAI officers and directors from Houston. After all that, the CFO joins the call. Even the conspiracy theorists are going to have trouble sorting this out.
i guess howard jordan forgot that black history month was last month.haha
ReplyDeletebai is a phucking joke .I'll give them til labor day ,end of year tops.
And good riddance.
1. Is there any update on the current marathon?
ReplyDelete2. Regarding the above: At some point, people on the left are going to have to think about how this could have happened. Here you have a network run by supposedly "progressive" people with "progressive" values. They are all against racism, oppression, predatory capitalism, and everything bad. And they support liberation and equity and inclusion and everything good. Anyone who is not a "progressive" is excluded, so they all have similar values. Free from corporate influence and in the possession of hugely valuable licenses, they are positioned to produce the best radio programming in America. And yet here they are - peddling awful programming to tiny audiences, mired in dysfunction, paralyzed by the seething rage of warring factions, and facing possible collapse. Was this a product of ideology or of the sheer awfulness of individuals? Or does the ideology tend to attract people with horrible personalities?
3. I rarely listen to WBAI any more, but late last night I tuned in for about 15 minutes. As best as I could understand it in my half-asleep state, Tony Bates was interviewing a woman who seemed to be claiming that the World Trade Center never really collapsed and crashed to the ground but instead were made to "go away" through the use of some kind of secret, super advanced weapon. When I first heard them yapping about 9/11, I assumed that they were hawking the usual conspiracies, i.e., "Bush had advance notice" or "Bush did it" or "Israel did it" etc. But I'd never heard this one before. I guess people got tired of the old conspiracies, so it was time to dream up something new and exciting.
1. The station has ceased to post marathon totals and details, presumably to avoid embarrassment.
Delete2. How could it have happened? I would say that it was sown by a succession of disastrous hiring practices, each one popping into place people whose interest in WBAI had little or nothing in common with the original Pacifica concept. Cronyism and ineptitude played a larger role in attracting unprofessional opportunists than did anything else. Ideology? That surfaces in the current racist atmosphere, but it is of a trendy, shallow kind, readily disposable should something more self-serving come along. The "horrible personalities" are attracted by this station having become the only game for decidedly bad radio in town. Again, that can be tracked back to flawed, careless managerial judgement when it comes to hiring. While there is no real unity within the station, the move to turn it into an outlet for ignorant, race-based discontent has created a semblance of togetherness. What we hear on the air now is, basically, what one used to hear on a stroll along 125th Street, where costumed separatists set up tables, waved a book in the air, and preached revisionist history. It should come as no surprise that this nonsense has produced a backlog of unpaid bills and reduced the listenership to its lowest figure in WBAI's 65 years as a Pacifica station.
3. Yes, Tony Bates, whose behavior as a PD inspired over 100 people to sign a petition calling for his dismissal, has been recruited by Reimers and flown in from the West Coast to pitch in the last two fund drives. He is not doing very well, I understand, but he is there just as he was when he and Kathy Davis tried to sell those infamous little bottles of tao water as a cure for cancer, autism, and just about everything except the common cold. He is glib con artist who did, indeed, appear with Geoff Brady to push some CDs of "Dr." Wood. She is the woman whose insists that the WTC buildings did not collapse, but rather "went away" in a complex hi-tech conspiracy. As you observed, hers is the same old conspiracy, but with a new twist. BTW, she is not just a friend and on air guest of Bonnie Faulkner (the KPFK or A) resident gloom and doomer, the two women have been working together on some theories. Sounds like a conflict of interest for Bonnie.
You may have missed them, but earlier Geoff Brady masterpieces have included one with a guest who can prove that the moon landing was done in a studio and that the moon seen by us on TV was a hologram. He also recently interviewed someone who claims that the Sandy Hook shooting was staged—no children were killed. They were actually actors who have since been whisked out of sight, perhaps by the witness protection program.
"Or does the ideology tend to attract people with horrible personalities?" is basically the right answer.
ReplyDeleteI have been involved in many "scenes" in my life, from intense politics to innocent hobbies. The one thing I can tell you is that no matter how serious or benign the scene, once you go deeper into it and meet the more dedicated members and leaders, you find most of those people are social outcasts, incapable of functioning in society in a normal way. You will also find the worst human traits, like egos, cliques, absolutism, orthodoxy, etc. in their worst forms. The ones who should be an example and keep the rules are the first to break the rules.
It didn't matter what scene I was involved in, from politics to BDSM to shortwave radio to language study to record collecting, etc., the upper strata of any scene was riddled with the worst, most hypocritical, power and attention seeking people you could ever hope not to meet. I guess it's just human nature that once most people who aren't accepted by mainstream society find a cause that accepts them, the reasons they weren't accepted come out.
I learned my lessons years ago and now like to remain an outsider, even among the outsiders.
And just a little note. I think one of the reasons I find the entire Pacifica Follies show so amusing is that it reminds me so much of all the internal politics and corruption that I saw in T.E.S. (The Eulenspiegel Society) back in the 1990s, which included questionable elections and ousters, a Manfredonia type guy who would sue them and get tossed out of court, disappearing money etc. Read the wikipedia page and see how it could be the Pacifica or WBAI page.
https://en.wikipedia.org/wiki/The_Eulenspiegel_Society
SDL
"It didn't matter what scene I was involved in, from politics to BDSM to shortwave radio"
ReplyDeleteHm your sample includes some of the worst, strangest human beings on our little planet. Maybe you should pursue less crazy interests?