Berkeley – Pacifica Foundation Chief Financial Officer Sam Agarwal submitted his resignation today. Agarwal came to Pacifica in December of 2015 after the chief financial officer position had been vacant for six months following the June 2015 departure of his predecessor, Raul Salvador. Agarwal’s departure leaves the network with no executive management, following a succession of volunteer executive directors for 24 of the last 29 months.
Berkeley-PNB director Bill Crosier notified the local board in Houston that Pacifica’s directors and officers liability policy had been cancelled, with an extension for only 60 days, and a bankruptcy/insolvency exemption in effect for those 60 days. The last day the policy provided full coverage was August 11th. Insurance underwriters had been demanding audited financial statements for months. Crosier told his board (the only local one to date that has been informed): Continue reading The Day The Insurance Died
Berkeley-On July 28th, a second special meeting on finances was held, once again boycotted by the entire board majority, with an attempt to unliaterally cancel the meeting by board chair Tony Norman. You can listen to the entire meeting here,a highlights reel here, and read a written summary of recommendations here.
The Siegel/Brazon board majority did attend the August 4th board meeting a week later, a meeting which which focused primarily on bylaws amendments, elections and disciplinary retribution. A highlights reel can be heard here. Among the subjects discussed:
After a two-year delay, New York station WBAI was re-licensed by the FCC, although the station’s lack of a local or toll-free telephone number since June 23rd place it in violation of broadcasting law (Section 47 C.F.R. 73.1125(e)). The Siegel/Brazon majority on the national board celebrated with Brazon announcing “The really good news is that WBAI has been granted their license renewal until June 1, 2022. That is really important in that it allows us to proceed with a lot of things (giggle) including negotiations that we have with debtors {sic} and so forth”. License renewal is what permits a sale or lease transaction of a broadcasting license. License renewal has no value in a negotiation with a creditor due to FCC prohibitions on using the value of broadcast licenses as collateral. Continue reading Proceeding With Things
Berkeley– Pacifica has installed a new chief financial officer by the name of Sam Agarwal. The board moved quickly, making Agarwal the signatory for all bank accounts and vendor relationships within days of his arrival. Agarwal’s last full-time CFO position was with San Francisco’s Equal Access, a nonprofit that sets up media projects in developing countries. Equal Access, according to their 2014 annual report, was funded by the US Embassies in Afghanistan and Pakistan, the US AID – Office of Transition Initiatives, The US Department of State – Bureau of Democracy, Human Rights and Labor, The US Department of State – Bureau of International Narcotics and Law Enforcement, The US Department of State – Middle East Partnership Initiative, The British Foreign and Commonwealth Office, and the Drug Enforcement Administration (DEA). Continue reading New CFO From State Department Funded NGO
