[Kzyxtalk] Amount and timing of debt

[sako4 at comcast.net]

Coate says it was $200,000 -- and it's an important part of the mythology that he "saved" the station. Regardless of the exact amount of debt, it wasn't one guy -- Coate -- who saved the station. It was the more than 100 volunteers who host programs, and it was our 2,300 members. We worked our asses off. 


As a footnote, MCPB's line of credit at the Savings Bank of Mendocino County is currently $75,000. MCPB just applied to have it renewed. I know thiis for certain. 


Finally, there have been no draw downs on the line of credit at this time. 


On March 18, I hope to be meeting with MCPB's former banker, Marty Lombardi. Marty is now retired and living in Grass Valley. He will be in town speaking with potential donors, including myself, about making a major gift to upgrade the Emergency Department and Intensive Care Unit at UVMC. Marty still sits on the UVMC Board. 


On the 18th, I also hope to ask Marty a few questions about MCBPB's fiances ending June 28, 2013, when Marty retired from the bank. He's the "answer man". 
, 
----- Original Message -----
From: "Tim Bray" <tbray at wildblue.net> 
To: kzyxtalk at lists.mcn.org 
Sent: Wednesday, February 26, 2014 5:39:42 PM 
Subject: [Kzyxtalk] Amount and timing of debt 

I keep seeing a figure of $200K thrown around, and Beth Bosk's recent missive alleges that Belinda Rawlins ran up a bank draw in that amount. In the General Manager's reports (available on the KZYX Website) , the bank debt is reported as $55K in October 2008, shortly after John Coate became GM. In the December report, he lists bank debt of $52K and NPR debt of $45K. I haven't gone through every report, but from memory, the total debt went over $100K for a while, but never reached the $200K level I've seen in several messages here. 

The facts are bad enough - why exaggerate? Especially when the facts are so easily researched. 

Tim Bray 


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