Originally posted September 7, 2014
Berkeley-At Thursday night’s PNB meeting, the national board approved on somewhat nebulous terms a loan to Pacifica Foundation Radio of $156,000 from Southern California real estate magnate Aris Anagnos, the employer of board member Lydia Brazon. The reason for the loan was the payment of employee taxes for severance checks for 19 employees laid off from NY station WBAI in July of 2013. The loan is against WBAI’s future revenues, with $25,000 payments due after every station fund drive for the next year. The loan would cancel out for the next year a significant part of the potential cost savings from the hoped-for relocation of WBAI’s transmitter and antenna from its prohibitively expensive spot atop the Empire State Building. Continue reading Racking Up The Debts