Posted by Justin on June 12, 2009 at 21:20:53:
This makes the story about how cswebio.com was going so well even more ridiculous.
Checks bounce at Webio; North out
Posted by Ed S. at 6/12/2009 6:27 PM CDT on Chicago Business
It was a wild day at Chicagosportswebio.com Friday.
The new Internet sports talk site outlet had checks to its employees bounce this week. Then late in the afternoon, David Hernandez, the CEO of Spectrum Entertainment, fired Mike North, his wife BeBe and Jeff Schwartz, who helped found the station.
Mr. North said he was fired by Mr. Hernandez after questioning him about Webio's finances. He said 12 checks bounced a couple of weeks ago, and as many as 30 this week.
"When people's checks started to bounce, we wanted to find out why," Mr. North said. "He never responded to our emails and phone calls."
Mr. Hernandez could not be reached for comment. On Monday, he told Crain's that Webio was making a profit.
Many people in the industry doubted Mr. Hernandez's claim. The station launched in April. Mr. Hernandez spent considerably on marketing with TV ads and billboards. He also brought in personalities such as Chet Coppock and former boxer Ray "Boom-Boom" Mancini, signing them and others to two-year contracts.
Mr. North said he hopes to to take over Webio. His "Monsters in the Morning" show on Comcast SportsNet was simulcast on Webio.
"I still think it is a tremendous idea," Mr. North said.
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