[[this is a reposting from www.la.indymedia.org from Leslie Radford, LSB member of KPFK 11/12/08
DRAFT PROPOSAL for a response to hijacking KPFK
To: Lonnie Hicks, Pacifica CFO
To: Sherry Gendleman, Chair, and the Pacifica National Board
To: The Local Station Boards of KPFA, KPFT, WBAI, and WPFW
The KPFK would like to convey its displeasure and the reluctance of our listener-sponsors and staff to the Foundation plan to mortgage the KPFK building and to the lack of proper notice and consultation in the process of determining to risk the KPFK building to provide the network with short-term cash flow.
The KPFK building's market value is far greater than the value of the loan. Such an arrangement, especially in this economic climate, is an open invitation to the lender to foreclose at any opportunity. Pacifica has other holdings valued nearer to the $1M to be borrowed, and collateralizing any of these would offer less temptation to a lender to take the property in a default situation.
Our listener-sponsors and staff continue to reach our budget goals, even as our station absorbs the greatest loss of staff in the network. Now Pacifica is demanding that our listener-sponsors risk their capital investment as well. Without the safeguard of a repayment plan in place, the greatest burden for repaying the note will fall on those with the most to lose--KPFK staff and listener-sponsors.
If the Foundation insists on going forward, in spite of the strongest objections of the KPFK Local Station Board, to dismantle the security and operations of its strongest unit, then the KPFK insists on a contractual repayment plan. To that end, the KPFK Local Station Board herein amends its budget such that, beginning in February 2009, KPFK will pay no Central Service fees until 80% of the loan and interest is repaid from sources other than KPFK sponsors and donors, at which time KPFK agrees to pay the remaining 20% of the loan plus 20% of the
interest. The loan has been presented to us as a stop-gap to a cash-on-hand shortfall, so that beginning the repayment plan in February should be more than sufficient.
Further, we demand that Pacifica take up the long-standing recommendation of the Foundation CFO to develop a marketing and programming plan directed toward a younger and more diverse audience, and that this plan be implemented across the network within the time frame of the repayment.
We also demand that, from now on, Foundation staff and the PNB work transparently, honestly, and in good faith with local stations and station boards when negotiating the fate of the stations and bargaining on the goodwill
of local listener-subscribers.
What is happening to KPFK could happen to any of the stations, and we ask that other stations join with us in forestalling the Foundation staff and governance from raiding select station's resources to cover inadequate Foundation planning. This appropriation of station assets without notice and consultation sets a precedent that endangers every station in Pacifica.
a commentary made also on indymedia by Sidestepper
KPFK slipping slippling into the past, not the "future" song
by sidestepper Thursday, Nov. 13, 2008 at 4:09 PM
No BAIL OUTS TO PACIFICA, or banks, or other financially deficiently run corps or instutitions !!!!
Now what do YOU THINK and what do you WANT TO DO about our KPFK being hi-low-jacked ?