Word: loaned
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Dates: during 1980-1989
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Trouble came this spring in a traumatic series of events that uncovered crippling deficits (first estimated at 2 million now at 9.1 million), deposed Mankiewicz and other top management officials, and threw the network into eleventh-hour loan negotiations with the Corporation for Public Broadcasting to meet the payroll. While the past several months have shed light on the internal problems of NPR, they have also offered some telling commentary on the fate of a public enterprise in a commercial nation...
...last-minute $9.1 million loan agreement with the Corporation for Public Broadcasting salvaged the network's immediate crisis, but NPR's future seems uncertain at best. The loan, together with $2.2 million pledged in a recent three-day fundraiser (the first ever for NPR) and additional funds from local member stations, will go a long way to meeting immediate debts, but won't necessarily restore funding for programming, or restore workers who have been laidoff...
...penny of the IMF money will flow right back to the banks, and they shouldn't be rewarded for getting us into this mess." Nader took a similar tack. Said he of the IMF'S activities: "The net effect is to allow large banks to pass off loan risks to public institutions while continuing to reap high loan profits...
...loan from the Corporation for Public Broadcasting (CPB) will avert a short-term financial collapse of the 281-station, federally funded non-commercial radio network NPR's recent economics woes including a $9.1 million deficit, has forced it to cut back on many of its programs and to fire several of its top executives and staff Jan Hanreth, an NPR spokesman said yesterday...
...news correspondent William Drummond said it was "not bloody likely" that the CPB loan means the network can service its financial problems...