LBS Publications Getting Free Ride From City of Orlando?

If you blinked you would have missed this story. WDBO reported that a publishing company defaulted on a loan from the City of Orlando in 1997. So, the city is going to advertise with one of the company’s magazines to settle the debt. The more you look into this story, the more it stinks of political corruption. I know, amazing to hear something like that going on in Orlando. We NEVER have crooked politics going on here, Nooope, never!

In September of 1997 the city, then under Mayor Glenda Hood, came to a micro loan settlement agreement with LBS Publications for the $36,249.39 still owed. The payment schedule according to my calculations comes out to 0% interest and no penalty fees. Hell of a deal! In 2005, it looks like there was still trouble paying on the loan, however. And, of course, now we learn that loan is pretty much going to be forgiven for the entire amount. Oh, we are going to get $30,000 worth of advertising in Onyx Magazine. Yeah, that’s worth it. Could we just have the next $30,000 of advertising they sell? If the ads were truly worth anything, then they wouldn’t have to pay the city in ad space, now would they.

What’s truly stinky is the people associated with Onyx Magazine, LBS’s primary publication, contains some well known names that have more than a few connections in politics and power within this city. Names like Daisy Lynum, Homer Hartage, Harris Rosen and Byron Brooks pop up. So a ton of questions come to mind when a private company with so many obvious ties to money and power around here gets away without paying on a loan for over a decade only to essentially finally get waived off in the end. I think the citizens of Orlando deserve their $30,000. We could use that money towards helping the Police buy some equipment or something else more useful than a bunch of worthless magazine ads.

2 Comments so far

  1. Terry Howard (unregistered) on April 10th, 2007 @ 1:38 pm

    There’s also something fishy about LBS’ records at the Division of Corporations. There are 3 separate listings for them filed in 1994, 2002 and 2007.

    Why is there nothing in the sentinel about this, yet they mention some controversy about Rev. Bracy who is right at the top of the list for Onyx’s board?

  2. Terry Howard (unregistered) on April 10th, 2007 @ 1:44 pm

    WFTV has more. Lynum confronted, and acting crazy… again.

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