The three remaining board members of The Devil Strip today announced in a letter that the cooperative altweekly that abruptly laid off its entire staff...
that the cooperative altweekly that abruptly laid off its entire staff in October and shut down is likely done for good and they will be resigning effective next week.
It did discover, however, that The Devil Strip is $186,000 in debt, which is $80,000 or so more than everyone initially believed in October. "While the cooperative structure is exciting, innovative, and has great potential for local news, the bylaws for The Devil Strip Local News Cooperative greatly limit the powers of the board and membership, requiring a simple majority of dues-paying members to reach quorum. That means, under the current structure, we must assemble 356 people in order to move forward with business decisions.