Turning to Chapter 11

Here, in full, is an audio clip of the Pacifica National Board's open meeting called to authorize the interim Executive Director to take a major step which he sees as the only solution to Pacifica's current do-or-die financial crisis.

It is by no means the ideal way out, but the alternative paths, signal swap, loan or property sales may pose an even greater risk. It seems pretty certain that the fat lady's song will span the country, but it is also clear to reasoned people among us that this is a situation brought on by years of mismanagement, neglect, moral decay and pursuit of personal interests. 

Simply put, this curtain closer is ultimately the result of appalling hiring practices brought on by years of handing the reins over to opportunistic amateurs whose idea of a New York "community" radio station is one that focuses on an educationally handicapped black population and pursues its own self-serving goals through taking advantage of plights they ought to be attempting to remedy.

The irony is that their race-based doctrine has brought WBAI's listenership to its lowest point, chasing away intellectually curious supporters of all races, ages and political persuasions. A dearth of listeners has left piggybanks wanting and cash registers silent. Now we can expect WBAI itself to become but a memory, but not a cherished one. Most of us who knew it long will be remarkably indifferent as it goes dark, so to speak. What have we lost? a few meaningful programs drowning in a sea of propaganda and other mediocrities.

Restoration was still possible a few years ago when I started this blog. My revisit had almost been accidental—I expected changes, but not the drastic downgrade that soon became obvious. The station had suffered ill-advised changes by the Seventies, but now it had sunk to a lower level and Pacifica's principles—the glue that once held us together—were being violated by people who seemed more interested in themselves than in building up and maintaining the extraordinary experiment Lew Hill and his friends had started with KPFA in 1949. 

As I said, I did not hear a WBAI beyond repair, so I initiated this blog with emphasis on the past. I never believed the station ought return to the old groove that reflected—and, in some ways, contributed to—the Sixties' cultural revolution, but integrity and vision had not become outdated. We had entered the digital age, yet I sensed no awareness of it as I listened to one moribund "show" after the other. The station was in a rut—stagnant and uninspired.

I had no desire to return to WBAI in any capacity, but it occurred to me that I might be of use if I shared some of my earlier experiences with current management, so I sent an e-mail offering them whatever advice I could give. Receipt was never acknowledged, so I called and left a message that was likewise ignored. Somehow I did make contact with Jim Dingeman, who immediately invited me to attend and, if I so desired, address a meeting. He was very friendly and clearly eager to improve what he, too, saw as an area in need of attention. After watching a few videos of LSB meetings on YouTube, I decided against accepting Jim's invitation.

Enough of that—I tend to get carried away when I broach the subject of WBAI's disintegration.

Following the open meeting—which is contained in the one hour and six minute link below, the Board went into "executive" (i.e. closed) session. It seems wrong that the people who pay the salaries and bills are excluded from a meeting that will, essentially, tell them whether or not they have wasted their time and money in support of the station, but I suppose we will eventually learn if the Pacifica farce ends with Chapter 11. 

The Open meeting in full.

UPDATE: (Courtesy of Tracy Rosenberg)

There was no authorization for Chapter 11 in the closed session. Crosier's motion did not pass. The board will continue considering a bridge loan to pay off the judgement.

More details from Tracy Rosenberg, who has advocated a loan solution all along:

The Pacifica National Board approved an interest-only loan on the LA property to pay off the summary judgment on November 9.  The Logan Investments loan is 8.99% percent - interest only for three years and would pay off the summary judgment in full and allow time to pursue and complete one of the less destructive signal swap offers to raise millions of dollars. 

The PNB also approved  on December 18 a Chapter 11 bankruptcy filing preparation to be shown to the board prior to filing. It has not been produced. 

There's no need for more board resolutions, as Bill knows. What there is a need for is completion of the Logan Investments loan paperwork so a loan contract can be issued and the preparation of a bankruptcy filing for board review, just in case it needs to be filed. 

... there are lots of reasons to avoid bankruptcy, but you need to understand what D&O insurance is. D&O insurance provides a board with legal protection after the deducitible is paid for human resources lawsuits and will pay settlements. It doesn't cover attorney's fees for bankruptcy filings (which will be a million dollars+), and it doesn't pay your debts for you. About the only thing in Pacifica's current portfolio of problems that D&O might address is the Leslie Radford lawsuit against Bill firing her, and that only after $250K in legal bills were run up in that case. 

A post-meeting statement from Bill Crosier:
"Many of you have asked what happened with the Pacifica bankruptcy motion last night.

The PNB majority moved it to executive session. I can't give details publicly about the executive session, but I'll just say that the PNB did not get to that motion in exec. session, so took no action on it." —Bill