The NCB financing is an interest-only loan. Sweeney said Wasatch Public Media will use $400,000 from the fundraising proceeds to pay down the loan. The group intends to repay the balance with proceeds from future fundraising campaigns during the loan's four-year duration.I personally did not contribute a dime to KCPW, although I enjoy listening to public radio and their station in particular. Here are three reasons why:
[KCPW's Manager Brain] Feulner was paid $140,000 under the terms of the new contract and a bonus of $39,815 (payable under the terms of the old contract) which is why Mr.Feulner’s total compensation [...] was $179,815.
Blair and his wife, Susan, then the nonprofit station's co-manager and chief fundraiser, cleared $280,000 between them in 2003, the most recent tax records available.
Susan ended her full-time employment a year ago and went on to collect $50,000 as a consultant to the station. Feulner remains as general manager and likely will make this year between $150,000 and $165,000, according to the president of KCPW's board, Tom Calder.
But the spectacular reward for the Feulners' years of hard work came last year when the board sold a Coalville station license purchased for $18,800 thanks to Feulner's deal-making savvy. The license, purchased in the early 1990s, reaped $3.6 million.
Susan and Blair Feulner's personal share of the windfall was $895,000. The amount was paid in cash, separate and apart from their salaries.
And really, does KCPW need to compete with KUER? I thought public radio wasn't about competition, but providing news and other programming that for-profit radio neglects.