We cannot speak to what, if anything, is in that account. As of 3/13/13, she had not arranged for any access to this account by the station's manager. Instead, the national Interim Executive Director (IED) opened an account with the Bank of America with whom she has a relationship. No notice was given to the LSB that additional time was needed to secure particular authorizations before the manager could open an account. To reduce co-mingling of transmitter rescue funds and other station funds, the Local Station Board (LSB) requested that the General Manager (GM) create a dedicated account. With $150,000 paid this month, the transmitter payment due by March 31/April 1 is $110,000. Total $260,000 – Amount payable from Feb.
Payment due on 4/1: $ 60,000 (April $50,000 plus first $10K installment of March rent) Paint your own picture.Įmpire State Building Transmitter/antenna rent ($ 50,000+ per month) (The time period and amount in the papers filed to begin the lawsuit are not relevant to this discussion as the amount due advances.) While we do not doubt that there are other urgent needs, we strongly believe that the representation of the station's fiscal status should be as clear as possible. Our calculation differs and we thought it would be useful to collect information from various management reports so that you can draw your own conclusions. According to the station's website, $500,000 is needed by the end of March in order to protect the transmitter.
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