AMAZING TALE OF KCPW-FM RECEIVING LOAN FROM SALT LAKE CITY

I have several observations on the drive by management at KCPW-FM to pay back loans made to its parent Wasatch Public Media (WPM) when the station was  purchased several years ago.

1.  If Ed Sweeney, head of WPM, decides to sell the station in the future, will proceeds or profits from the sale be returned to listeners who contributed to paying its purchase price?  Or will Sweeney just walk away with the monies, considering the whole purchase to have been a great personal investment?

2.  If Salt Lake City does lend KCPW and WPM monies (see the report by Glen Warchol in today's The Salt Lake Tribune here) to meet loan repayment obligations incurred by Ed Sweeney on purchase, has the mayor and/or the city council been able to inspect recent financials from WPM and KCPW?  I ask this question because KCPW and WPM have shown themselves in the past reluctant to come out with financial statements that are fresh and timely.  Usually financials are revealed only some12 months or more following the end of KCPW's fiscal year on June 30, almost as if Ed Sweeney and WPM want to downplay financial results or keep them hidden from the public for as long as possible.  Here is a link to WPM's Form 990 for year ending June 30, 2010.  But to date, KCPW and WPM have not released financial statements for their latest tax year ending June 30, 2011.

3.  Ed Sweeney and his company WPM are fortunate to have Salt Lake City on the verge of lending tax dollars to this non-governmental enterprise.  If SLC does go ahead and extend a loan for thousands of dollars, why must other private businesses fend for themselves in tough times?  Anyone who owns his or her own shop in Salt Lake City must be wondering about the selectivity and unfairness of SLC's offer to help KCPW