They took to the stream this evening, left the door open, stumbled around in a circle, listened to an outside financial expert, invited three questionable WBAI walk-ons to a private follow-up session (at Cerene's request), and shut the rest of us out. Here is the essence of a meeting that was largely without essence. —CA
And here is Indigopirate's comment:
The desuetudenous miasma which is Pacifica scrabbles, scrambles, gasps, grasps, and hangs on… perhaps for a time, perhaps not so much.
Who knows?
The Shadow might but shows no interest.
The collective intelligence which might be said to be Pacifica… well, never mind that.
This then the latest moves contemplated to extend the life of the lifeless.
Might something emerge from it, via pressure from note-holders?
Possibly.
Possibly not.
Such meaningful pressures are the only factor that might lead to radical (pun intended) reshuffling.
Care to bet?
Personally, I’ll pass, thank you very much.
~ ‘indigopirate’
Interesting that no one moved/voted to extend the open meeting so the rest of us could hear the "advice" from the guest speakers. The info from the loan expert was right on point - and helpful. What else could we have benefitted from if the open session had been approved with a "yes" vote.
ReplyDeleteDingeman unleashed on the PNB? I've got to hear that. Roll clip.
ReplyDeleteAs per Mimi's hysterical demand #114,the PNB is hereby ordered to divulge everything in closed session so that she can inform MNN and save her precious LMA deal.
ReplyDeleteChris,
ReplyDeletePacifica would have to take a loan to cover the ESRT rent payments until 2020, when the ESRT lease expires. WBAI will never be able to pay the lease for the ESRT.
Eventually, the real estate must be sold to cover the cost of moving the transmitter for WBAI. But with a monotonically decrease in revenue, either real estate or the sale of WBAI's license must be accomplished.
This is a bridge loan.
I believe that the WQXR license swap was done in less than one year.
Thank you.
Ed Manfredonia
(JustAListener)
ReplyDeleteA summary of the WQXR deal:
"The New York Times Co. (NYSE: NYT) continues to pare its assets, this time with the sale of New York City classical music radio station WQXR-FM. In the complicated deal, which totals $45 million, Univision Radio will pay $33.5 million to swap its FCC 105.9 FM broadcast license and transmitting equipment for NYTCo’s license, equipment and stronger signal at 96.3 FM so it can move its WCAA Spanish-language station to the stronger signal. Then, public radio station WNYC will pay $11.5 million for the 105.9 FM license, transmitting equipment and the WQXR call letters and website."
So the sig swap was worth $33 million in 2009.
If Pacifica can get anything close to that it seems to be a no-brainer.
Of course there is the "if" - the radio market has changed, how much, Pacifica will likely soon find out.
I suspect that the transmitting facility in such a swap (ESB or other) might demand a large deposit given Pacifica's payment history. And WBAI's transmitting equipment may not have much value.
So it's unlikely Pacifica can pocket anything close to what the NYT did but it's better than selling off real estate.
(Personally I'd love to see WQXR swap with WBAI - would be nice to get a strong signal again, but I know that's not going to happen).
I suppose Pacifica will keep bumbling along until they are forced to sell stuff off at fire sale prices. Besides any money left over from a good deal is likely to be pissed away in a few years.
Why should management do their jobs when the listeners will buy crap or that mythical "rich liberal" is sure to pop up any minute?
Heck, they didn't even bother getting the paperwork done for CPB funding - how many millions were lost there?
I don't even care what they say in closed session - probably sounds like a Bob Fass show with hecklers, though I do wish there was someone doing a documentary on the comic crumbling.
A signal swap is interesting in that I will bet you Pacifica will look for a station they consider agreeable to their mindset and not find one. You know this is the kind of thing Pacificans will fight over.
DeleteAs for WBAI's value, they are lucky to have a prime frequency and a commercial license, which will make it more desirable to prospective swappers. The real question is whether anyone wants to swap.
The CPB question is interesting because I think they lost over two million dollars so far. If so, do I need to say it probably would have covered the ESRT bill, or most of it?
No matter what, I still don't think these Pacificans will ever wake up to reality.
SDL
Its a little hard to take this seriously. The same people who brought the station down with their terrible programs and diatribes against Trump, the US, West in general, Chris, ESRT and Santa Claus insist they be part of the solution. They insist the PNB reveal everything they're doing at every step of the way. Why not? Its not like the creditors read this blog or listen to the meetings or read the various proposals right? Right? The same people who can't be bothered to do fundraising or promotion. Its beneath them. They're too busy fighting the revolution. In their self-righteous indignation, they insist they have the answers. They know better. After all, they've been running the place since at least the eighties. Their solution apparently involves Alec Baldwin opening his wallet, shaming the ESRT into letting WBAI out of a bad contract 12 years after signing it and then doing some kind of LMA BS. Pesky little issues like judgments, liens, bylaws and contracts are not important. What matter is its their station. It belongs to them. I feel bad for them Chris. They're getting a bad dose of reality now and no matter how it turns out, its going to be a rough ride for them.
ReplyDeleteCLEVER. this satirical tone makes good reading and better understanding that many angry, frustrations expressed. thanks. an inner grin is more needed than outrage and words clumped all in 1 unreadable paragraph are too
DeleteNine lines is hardly unreadable for a comment on a blog. I've seen comments here that were so long you needed an index. I was too angry about the BS coming from Mimi and Cerene to worry about formatting. I'll try to remember to format in the future.
DeleteI...Huh. Hi Alec. Yes. We'll talk to them about that weather control nonsense. What was that? Yes. That's the restricted account. 'He' can't touch it. Yes..Yes..
Chris,
ReplyDeleteThe purpose of a bridge loan would be for a signal swap and to use the funds to repay the loan.
Very few individuals listen to WBAI. The programming is of little interest to potential listeners.
WBAI had the opportunity to expand its audience in the financial crisis. It did not seize the opportunity. Just rants against Wall Street.
The trial of Goldman Sachs was particularly egregious. "I lost my job because of Goldman Sachs." Dog Poop.
The speaker obtained her job because of an economic bubble, which had to burst.
The speakers did not know a swap was. No speaker was familiar with the name Gustave Levy.
It was a tale told by idiots, who know nothing.
My favorite was the homeless individual jumping up and down screaming: "I'm homeless."
He probably refused to take a job making deliveries.
Thank you.
Ed Manfredonia
Chris,
ReplyDeleteThe seller of Double Helix Water receives a 20% commission on this sale and all subsequent purchases that this uninformed purchaser makes.
I'm lying. Sue me asshole!
Please leave the vulgar words.
I,Edward Manfredonia, am solely responsible for this post.
Ed Manfredonia
Chris,
ReplyDeleteI know someone,who received a commission for selling Double Helix Water.
Ed Manfredonia
@Anon... With respect, are you quite certain a measure of sympathy for this lot is appropriate?
ReplyDelete~ 'indigopirate'
Yes. They fall in one of two groups. The first group truly believe their rhetoric. When the bubble bursts around them, they will have a difficult time of it. The second group are the ones who have been scheming and conniving all this time. All they have to show for it is a station drowning in debt and far removed from the original Pacifica mission.
DeleteGive group #1 a bowl of macaroni & cheese and a sfe room to hide in, without mics, so we don't have to hear from them.
DeleteSDL
I think WBAI should start a youtube channel, monetize it and post mukbang videos, which are very popular and profitable these days. WBAI has a handful of the more rotund sort of women there who look like they would appreciate sharing their face stuffing talents with the world to save the station.
ReplyDeleteSDL
Chris,
ReplyDeletePacifica can file for bankruptcy; but it does not mean that the position will be automatically granted.
I once witnessed a bankruptcy hearing. I knew the parties involved. When the petitioner recounted his assets and money owed to him, I was startled. I grabbed the attorney and said that some legal fees due to the petitioner had not been included. The judge permitted the attorney to speak to me. I explained that attorneys owed the petitioner referral fees. The petition was denied.
As for Pacifica's filing an audit will be performed. Of course fraud will be found- and I can only speak about WBAI.
Incidentally, printing Alex Steinberg's draft of a motion is not a crime. The individual, who said that it is criminal, has devoted herself to rehabilitating Trotsky, Kamenev, Zinoviev, etc. A crime is not determined by what the ruler at the time decides.
Just as Mitchel quoted Tomsky, who was purged by Stalin.
And one more matter. The ESRT will attach the real property immediately.
This is the same Pacifica, which decided not to pay Silverman and Silverman; so a bank account was seized.
It will cost millions to get out of bankruptcy court. Not just the legal fees for Pacifica- but for the ESRT.
Ed Manfredonia
"This is the same Pacifica, which decided not to pay Silverman and Silverman; so a bank account was seized."
DeleteEd,
Is this the incident you are referring to? http://www.afjlaw.com/silverman-
silverman-v-pacifica-foundation/
Chris,
DeleteI quote from Pacifica in Exile
"The legal bill from Silverman and Silverman, the NY law firm retained by Dan Siegel to defend him from the Cohen vs. Pacifica lawsuit filed in 2008, was collected via bank seizure warrant from the operating account of LA station KPFK last month."
Thank you.
Ed Manfredonia
David Rothenberg just announced that the current begathon is being extended. What a surprise!
ReplyDeleteSorry that I hadn't mentioned that—I assumed that it was generally expected.
DeleteIs there ever a beg-a-thon that isn't extended? I really think they should just indefinitely extend it until WBAI pays for the ESRT mess. Getting back to regular programming in twelve years is fine by me.
DeleteSDL
It's all one big infomercial/lie fest, anyway.
DeleteThe preceding encore premium presentation featuring "Pounding" Prescod was brought to you by Bayer extra strength aspirin. Now that you need us, we're here for you.
DeleteSDL
She was particularly awful when I heard her earlier today. Sounded like she was having teary breakdown.
DeleteShe's a true hard sell ham with an unlimited supply of Paul Robeson and Cubans in Africa DVDs.
DeleteSDL
Jeannie and her crew on now - I used to like her - they all sound high tonight. Maybe they know the end is nigh and are taking a wtf attitude ?
ReplyDeleteMaybe they read about John DeLorean and want to try to save their business like he did? Of course, if the cops get them they will cry false arrest based on racism.
DeleteSDL
Don't forget that they—in their own limited minds—are lifelong "victims". One does not have to listen long before realizing that they are stuck in an electronic groove with no imagination and one short line of "lyrics".
DeleteTo them, this is amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing, amazing.
i was kinda half listening and half asleep when i thought i heard gary null say that cuba is bigger
ReplyDeletethan california and that his house was damaged more than any other house in florida during the hurricane . This after saying he was prepared for it . Both of these statements don't make sense if true. Did anyone else catch this? happened in the first minute or two of the show.
I did not catch his remark about Cuba’s size, but I did hear him say that his property was damaged more than any other in the area, and I heard Bates repeat that, adding that it was because the US government directed that hurricane at Gary Null’s house, knowing how great a danger he poses by being a WBAI!
DeleteThese are shameless opportunists who don’t give a rat’s ass for WBAI except for what they, personally, can get out of it.
Bull's claim that his property was the most damaged is consistent with his megalomania, as is his insistence that he knows more than any physician, scientist, or anyone else who disagrees with him.
DeleteWas the dining room set he was trying to auction a while back damaged?
DeleteSDL
I think he was keeping the chairs, so I guess it was just that glass top table. We were never given an update on that. Damaged? I don't think so, it was in his New York residence, Trump's climate commanders only aimed at the Florida residence, but who knows what they might be planning to hit next. One would think they'd go for North Korea or Hillary's house.
DeleteI still want to know whatever became of the mixing board he said he was going to give to WBAI. Yeah, I know, it's hanging with the chairs...
DeleteSDL
It's in the mix, I suppose. Now, if we could only locate that mix, it should have quite a few things in it: telephones, premiums, computers, microphones, tape machines.... I think the list is long.
Delete(JustAListener)
ReplyDeleteMaybe Null is angling for a big insurance payout.
Wonder what he owes on that property.
Max announced that the fund drive's goal is 500K. Anyone know the current tally as of Sunday night 10 pm-ish?
ReplyDeleteConsidering how Reimers gives out false figures, would they matter?
DeleteSDL
Berthold Reimers’ has long sice lied his credibility off. His word has no meaning.
DeleteChris,
ReplyDeleteA 2 year loan for $2,200,000 at 7% equals monthly payments of approximately $90,000.
ESRT payments are a minimum of $55,000 per month and increasing at 9% per annum.
$2.2 million is owed to the ESRT. The interest on the first month is $16,500 and the interest is compounded every month.
Note: For simplified purposes I have used monthly interest payments and have rounded the numbers for simplicity.
Then we have legal fess for bankruptcy. If the fess are $500,000, the legal fees are approximately $20,000 per month.
I am rounding here.
Someone please check the figures, I am using a simple calculator.
No matter what occurs, Pacifica must pay the ESRT $2.2 million and a monthly payment for the ESRT tower that is a minimum of $55,000 per month.
As for the audit. Please verify the true cost of the lease for the ESRT. I have this queasy feeling that Berthold has submitted a fictitious number for the ESRT rent- for the past few years.
Thank you.
Ed Manfredonia
As alluded to above, even at this critical point, these people have but a toe across the border to reality.
DeleteI had Blosdale's Pacifica archives premium on for a few minutes and got a laugh. The guy on with her (archive manager or whatever his title is) called Franco "The first fascist." I guess he never heard of Mussolini.
ReplyDeleteAnyway, it's funny how they mention various people as being on the USB sticks, but just focus on MLK. I guess we know what target market they are after.
As an aside. I've been reading Alvin Toffler's Future Shock for the first time since I was a teenager and wondered if he ever popped up on WBAI in your days there.
SDL
I have heard much mis-information coming from the Pacifica Archives management.
DeleteAs for MLK on a stick, he gets disproportionate mention (along with Robeson and Malcolm X), because WBAI's ignorant hucksters are not promoting radio as much as they are trying to sell product. They also underestimate the perception and intelligence of the casual or tuned-out listener.
I don't recall whether or not we dedicated a program to Toffler, but I can't imagine that we didn't at least review "Future Shock".
1300 hundred hours of archives , and yet you hear the same 8 blacks played over and over .
ReplyDeleteBut no, these idiots aren't racists . lmao
These fools, which is what they come off as to me, are obsessed with racial divide, which they promote by professing to be colorblind.
DeleteToday, I heard a new Hitler-esque* infomercial where in one of the race robots made mention of "people of color" and quickly added "blacks." I think some of these street corner ranters accept Hispanics reluctantly and for purely self-serving reasons. What we have dominating WBAI now—and tossing it into a gutter of Pavlovan acrimony and racism—is a profoundly insubstantial mix of ego-ridden materialists, clueless Pacifica misfits, and unprincipled hustlers. The few decent people aboard rarely, if ever, speak up against the abuse of WBAI's listenership (not to mention Lew Hill's legacy), so the game just goes on and on.
As Bessie Smith sang, "It's a long old road and I know it's gonna end."
It will, soon.
*He, too, pushed a wholly imagined "super race".
I hope that two of them are Sam Cooke and the Reverend Al Green
ReplyDeleteEd Manfredonia
Unfortunately they have to be blacks that have something to do with race, it's the only
ReplyDeleteones they will focus on . Just Easier for them to segue into the white oppression horse shit.
I don't believe it, a WBAIte (Reggie) doing a breaking news report (muslimite truck attack). When was the last time you heard that?
ReplyDeleteSDL
I'm shocked ! That they actually broke away from the all things africa all the time marathon .haha
ReplyDeleteJust wait.... Bates or one of the other snake oil pushers will conclude that Sayfullo Saipovthe was on a mission for the U.S. government and that only WBAI has the guts to reveal that...... then they will offer an 8X10 and a DVD of TV footage for $125.
DeleteBates says it costs $3,000 a day to run the station. Does that sound right Chris?
ReplyDeleteI'll have to look into that, but it sounds high. Bates routinely makes things up.
DeleteWell, look at that. Linda Perry doing a news report. I guess she's back. I wonder how her knees are after... Never mind.
ReplyDeleteSDL
She's been back since the begging began, reading selected news that other stations have already updated. She's a bad joke.
DeleteYesterday, I heard Kathy push a book called "How Not to Die". That, of course, is inconsistent with some of the toxic stuff she pushes.
Shows you how much I listen to WBAI these days. I guess she must have done some begging to get back there. Makes me wonder how long until Credico is back.
DeleteWait until she pushes a book about reviving the dead and claiming Blacula predates Dracula.
SDL
Can we expect a Perry Christmas this year?
DeleteCute.
DeleteI hope they do another beg-a-thon during Xmas hawking the Santa Clause Conspiracy DVD set...
SDL
If they are still around at Xmas time. Prescod is on right now, pushing a white man, Howard Zinn, and she sounds quite hysterical.
DeleteNext step might be for Mitchel Cohen to give Kong a back rub.
"I'm telling you I need to ear $2,000 in the next hour! I only have a limited number of these straight jackets available, and when they're gone, they're gone!"
DeleteSDL
That's her routine and she seems not at all bothered by the fact that it obviously doesn't work.
DeleteI'm still waiting for those refurbished auras to go on sale.
Are they just do fundraising at this point? Every time I tune in, its Bates, Bates with Brady, Bates with Null, Prescod or Davis.
ReplyDeleteBates gets more air time than any WBAIte these days, doesn't he? I guess it is truly *his* station now.
DeleteSDL
They have definitely altered the time ratio between crap for sale and just plain crap.
DeleteHave you noticed how Null embraces Bates now—Bates can say things that contradict what Null himself has said, yet he gets no argument from Null.
Bates is all over the place—he and Reimers share the manager's office and he has definitely become the de
Deletefacto fool in charge.
Did you see the link for the art auction yet on WBAI's website? I wonder how this will go, and who will be in charge of sending out any art pieces which are sold.
ReplyDeleteSDL
Who said anything about sending these things out? Who said anything about anyone buying these things?
DeleteDoes anyone remember when Andrea Katz, the GM du jour nobody has heard of, staged an art auction?
Yeah. I don't think The Remnants are imbued with any artistic sense.
DeleteSDL
Artistic or otherwise, I would say.
DeleteDis canvas of Black Leaders on Black Velvet can be yours. Only dose with true black auras can see da true original art did by original black artists before it was stolen by the Vikings. Order now for only $4,000 and you get this free black light. Now some enemies of WBAI will say it is a burned out LED lamp, but due to the energy of Oregonite, it sends powerful beams of Illuminati-ation . Use the WBAI web site, cuz the phones, ya know. Hurry this limited time offer only lasts while WBAI is here.
ReplyDeleteIf anyone reads a dash of racism into some of these comments, I hope they recognize it as a reaction to the steady flow of race-based, often venomous bile that gushes from 99.5 in these years of occupancy by opportunistic individuals. They are in large measure driven by their own ignorance, abetted by loosely unified factions and individuals whose agenda is a wholly self-serving grab of the reins. Racism in any form is abhorrent, so I am not excusing it here, whether it comes from me or anyone else, but asking only that we bear in mind that it can manifest itself in the form of mockery. Presentday WBAI assaults intelligence, which was the main ingredient in Lew Hill’s Pacifica concept, a rare prerequisite that attracted listeners of all ethnic origins. The near total abandonment of honesty and the focus-shift from pursuit of truth to steady huckstering of agenda-compliant racial fantasy has not only prompted a mass exodus of non-black listener-supporters, it has discouraged all people of intellect—independent black thinkers are equally apalled by the crap they hear on the station, the hateful propaganda, the gross distortion of human history that matches or exceeds that which was drilled into our own developing minds in less enlighted times.
DeleteDid I muddle or am I making sense?
It's hard to parody racists without sounding racist. Parody is to mock in the style of something for ironic effect. Much as it is hard to parody Republicans without sounding like a Republican.
DeleteAnd Cuba is big , if you put Cuba over California , you couldn't see California.
ReplyDeleteNull's exact words. So i did hear it right the other day .
Plus his house was damaged more than any other house in Florida. haha