Thursday, Apr 24, 2014
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yesqcy - City/Firefighters labor contract must be voted on again - Quincy, IL News - QuincyJournal.com
Very true, everyone has to have a first time. But what about the city attorney and the rest of the council? Nobody?
Mizzougrad - Quincy City Budget hearings and Council meeting - Quincy, IL News - QuincyJournal.com
Your right, the pensions that the city chose to underfund for years because they could, and now it's all our fault. For someone in business, don't understand how you do not understand the concept that you close a station, you don't just reassign the firefighters, because then there are no savings. You close a station because you want to lower the number of firefighters, period. You know…
topdown - Quincy City Budget hearings and Council meeting - Quincy, IL News - QuincyJournal.com
Once again, I will ask you: Do you understand business at all? The City can't print money. The police and fire pensions have thrown the entire system so far out of whack that the City can't make "want to" decisions; it is a "have to" situation. You can cry the blues all you want about the poor, poor firefighters, but their greed over the years has contributed greatly to this mess, so what…
topdown - Quincy City Budget hearings and Council meeting - Quincy, IL News - QuincyJournal.com
I haven't read a single comment about laying off firefighters, except, perhaps, from your Chief. You are paid, and paid very well, to do a job. If you don't like it, quit. People will line up to take your spot. No one is complaining about the services you provide. The problem is cost. Why is it so hard to understand that the City coffers are not a bottomless pit? Your pensions have…
topdown - Quincy City Budget hearings and Council meeting - Quincy, IL News - QuincyJournal.com
Your condescending attitude is just plain insulting. Thousands and thousands of small business owners have suffered in this economy over the past decade or so. Should we all "reinvent" ourselves? What an idiotic statement! It is patently obvious to me from the comments you have made in different discussions that you have lived a life of privilege and have never given an honest day's work in…

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Network Knowledge sells farm land from Macomb transmitting site

1 year, 9 months ago by Bob Gough

Two years ago, the corporation sold its WQEC transmitting tower in Fowler

Network Knowledge, parent company of WSEC/WQEC, is selling more land as part of its ongoing strategy to restructure debt, in part by selling assets deemed non-essential to providing their programming.

“Our primary goal is to deliver quality programming,” said Dr. Jerold Gruebel, president & CEO of Network Knowledge. “We want to broadcast as much of the treasure of national programming as possible, and we want to be a valued community resource for locally-produced programs, primarily in collaboration with community groups and organizations.”

To do this, Network Knowledge has begun a strategy of reducing debt through the sale of assets and diversifying its fund raising by increasing viewer support, attracting more business partners for sponsorship of its programming and creating additional infrastructure revenues, such as increased tower leases.

Two years ago, Network Knowledge sold its WQEC transmitting tower in Fowler, Illinois. WQEC is the Network Knowledge community-licensed public television station for Quincy. With the leaseback of tower space for WQEC (at no cost), the new tower owner is able to generate revenues from tower leases while Network Knowledge was able to reduce debt equal to the sale of the tower.

Network Knowledge is presently completing the sale of farm land it owns for its WMEC/ PBS Macomb transmitting site in Colchester (completion of the sale should take 4 to 6 weeks), and may consider selling its farm land for the WSEC transmitting site in Franklin. Sale of the Colchester farm land will eliminate the line-of-credit debt Network Knowledge has with Bank of America, its primary lender, and give it funds to pay debt service on its long-term loan for approximately half of this fiscal year which began on July 1.

“This sale reduces our overall debt and gives Network Knowledge much needed relief in paying debt service, which in turn helps our operating cash flow. We retain ownership of the transmitting tower and all equipment on it.”

 


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