We are in a political struggle for the soul and the survival of our beloved KPFK and its fiduciary owner, Pacifica Foundation, Inc.
I do not support the sale of KPFK 3729 Cahuenga Blvd or any assets of the Pacifica Foundation Radio Network, including but not limited to the Pacifica Radio Archives.
Our radio network and all properties, real or intellectual, are priceless and MUST BE PRESERVED IN PERPETUITY for all future generations.
All that we hear and hold near and dear on the Pacifica airwaves is a reflection of the Pacifica mission, built by many thousands of hours of labor donated by thousands of dedicated volunteers, for more than 75 years.
We cannot and must not allow this hallowed institution to be sold, traded, or abused as a cash cow or as collateral for financial loan agreements which are now causing and incurring additional debt burden due to high interest rates, well in excess of 20% annually.
This IMF/World Bank style arrangement has been set up to make us lose our KPFK real property premises by defaulting on such a loan.
Who knows, really, where the money goes?
In 1986-87 when I started listening and subscribing to KPFK, we had more than 15,000 members. KPFK fundraising drives lasted rarely more than two weeks and happened three times per year, yielding amounts totalling the stated $850,000 needed ANNUALLY for KPFK's operation expenses, all-inclusive.
During the period between 1988 to 1995, KPFK somehow managed to triple their paid staff from 12 to 36 and the annual expenditures nearly quadrupled to over $3.2 million per year.
Payroll expenses like this can be all right in for-profit corporations grossing more than 15 or 20 million dollars per year. However, any 501(c)3 nonprofit foundation, such as Pacifica, typically functions well with a maximum payroll budget around 30-35%. With payroll accounting for over 70% of the expenditures, KPFK has been run into the ground.
WE MUST NOT ALLOW ANY INDIVIDUAL or group of supposedly elected people to make decisions in executive (secret) sessions, to sell trade or collateralize any assets or real property of KPFK or Pacifica, without the informed consent of all the general membership.
This is about all I can say for now as there is less than 1 hour until the deadline to post this statement.
If you agree that this current state of affairs is urgent, as in a life or death situation for KPFK and Pacifica, then please consider these thoughts and we can continue by creating a new resolution to further guide the local station boards and the delegates to the Pacifica National Board.
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