What now for Webio, Monsters?
Posted by Ed S. at 6/15/2009 2:22 PM CDT

Spectrum Entertainment President David Hernandez met with employees at Chicagosportswebio.com Monday morning to assure them the business model for the new Internet sports talk outlet still was in place and the endeavor had a strong future.

He asked them to provide bank information so they could be reimbursed for previous payroll checks that bounced, according to sources close to the situation.

The employees then left the meeting to learn that the U.S. Securities and Exchange Commission had accused Mr. Hernandez of business fraud in a civil suit and received a temporary restraining order to freeze his assets in companies that include NextStep Medical Staffing and NextStep Financial Services.

The suit also said Mr. Hernandez was convicted of wire fraud in 1998 and has filed for bankruptcy three times since 2004.

According to a source, when Webio personnel questioned Mr. Hernandez about the SEC suit Monday, he said, "It was old news. Not a big deal."

Then he took a phone call and left, saying he would return at 1:30 p.m. He never came back.

The timing of today's events and what transpired over the weekend left one staffer saying, "It feels like I've been punched in the stomach."

Webio was on the air Monday, as on-air personnel said they would honor their contracts in the hopes that the situation would be resolved and that they would be paid. But those prospects look bleak in the wake of the revelations from the SEC suit.

The filing answers the question of how much money Mr. Hernandez spent to market the two-month old Internet operation: $275,000 for TV ads and billboards. Industry observers had been questioning how he could afford to spend so lavishly for a new operation.

The money, though, appears to have run out, as payroll checks began bouncing a few weeks ago. Mike North, a co-founder in Webio, his wife, BeBe, and Jeff Schwartz were fired Friday. Mr. North said he was fired because they called Mr. Hernandez on the bad checks.

Obviously, the status of Webio appears to be day-to-day. However, it can't be on the air much longer if people aren't getting paid.

As for Mr. North, you have to wonder about the future of his "Monsters in the Morning" television show. NextStep Medical Staffing was the title sponsor of the show. NextStep's presence was pulled today at the company's request, according to Comcast SportsNet.

According to sources, "Monsters" staffers were told Friday morning that the show was being shut down. However, CSN later reconsidered.

CSN would not comment on the situation, but something obviously happened because the network did no advance publicity for tonight's primetime "Monsters" show. It features in-studio interviews with Jerry Reinsdorf, Kenny Williams, Crane Kenney and Jim Hendry. Typically, CSN would go all out to publicize such a show.

Mr. North said he has a new title sponsor lined up. However, if he can't close the deal, or if CSN is soured by what happened with NextStep, don't be surprised if "Monsters" meets a bad fate.

Mr. Hernandez hasn't returned my repeated calls seeking comment.

Uh oh!!! Time for me to give the boys some advise again. DO NOT GIVE HIM YOUR BANK INFO. Jesus Christ, why do I feel this advise is already too late for Jesse Rogers?

Jesse - Golly Gee, Mr. Hernandez, here ya go.

Fuck,Jesse...watch out,that tree in the forest is about to hit you in the head!

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favrefan said:"Chris Coghlan isn't gonna pay your rent, Jimmy."

NigerianMonarchyWebio.com

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"Industry observers", my ass. Most "industry observers" I read kissed North's ass. It was us pantsless cretins here that couldn't understand where Hernandez was getting this money.

Tim, Weber, seriously, don't give him your bank info. Make him right you personal checks!!!! I'm dead serious. I know your in a tough spot and he's gonna tell you that he can't do it that way. HE'S A CON MAN!!! Just walk but don't give him your bank info.

They "fired" North and BeBe in a lame attempt to keep them out of jail.

Hard to imagine how a Chief Operating Officer would get off scott free in a ponzi scheme like this.

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"Hi, I'm David Hernandez. I'm being sued by the SEC, am a convicted felon, have been bankrupt three times, am stealing people's money in a Ponzi scheme, and just possbily scammed you out of a career and a future. Please give me your bank account numbers now, won't you, and I promise to make this all right. Everything will be just super. Trust me!"

If he took money from his other ventures that Mike & BeBe have no involvement and bankrolled the WEBIO,how is she supposed to know that?

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favrefan said:"Chris Coghlan isn't gonna pay your rent, Jimmy."

It seems like it might be over, since Fred's facebook status said:
wants to thank those who listened to Webby & Freddy. Matt and I had a great time and Steve Goffman, our producer, was the best! We will all turn up again, somewhere!

This is really disappointing news.

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-"God is great. Beer is good. And People are crazy!"

This is just disgusting. Meanwhile, here comes North with that dopey grin doin' a prime time special on Comcast. They just showed him. Everything is fine in his world.

It's like a hit and run accident where a family is left bleeding to death.

When are they gonna pull fuckin' Pappy off this Comcast show? Somebody needs to have a brain over there. Everything shouldn't be roses for Mike North. He's a pig.

Where is the FBI? They need to protect these, not-so-bright, radio people. They have to shut it down before it gets worse. The FBI needs to put an end to webio and tell the kids it's over.

Beardown,
You are a miserable Man. It must suck to be you...always hoping the worst for other people is really sad...

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CSFMB 2014 Nascar Pick 'em Champion

We don’t have a trillion-dollar debt because we haven’t taxed enough; we have a trillion-dollar debt because we spend too much. — Ronald Reagan

Oh yeah. I'm horrible for thinking Pappy should take some responsibility in this and maybe pay a price.

He's giving them his SS number, mother's maiden name and the name of his first pet!

I assume this is "money spent". How the hell did Hernandez even have this money with all of his failures in the past? I just don't get why he would spend that to try this scam. That's a lot of money to spend on something that can't bring that much back.

How the fuck is it right that heres all these idiots who belived in this fucking pile of shit, who are now out of work, yet Nort is still on television to an audience of possibly two fucking ppl?

Reinsdorf, Hendry, Crane, all these guys with reputations should have called Comcast and said "Na, theres no fucking way Iam going on THAT fucking show with that moron", just out of respect.

You really think Nort's taking money out his pocket again THIS week? I will bet you money the fuckers already changed his phone numbers and E-mail addys.

The fact that hes letting these idiots who followed die on the vine while hes on TV acting like the fool hes always been is one of the most low class, selfish, fucking bullshit things to do, and shows his true colors as a person.

Bidness as usual....fucking clown.

I hope Mike Nort gets anal cancer, seriously

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JohnKirk = Jen Patterson?

JohnKirk= Bebe behind a proxy

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north will find another sucker to pour money in to another doomed project. johnKirk will be his first investor.

He has been successful in anything over the last several years. He killed morning drive at the score when he was there, he made big money with dontbetme.com, Melman lost money with his show, Comcast ratings are no better than with Sportsrise and 3 times the price and the final beauty, WEBIO- is a complete disaster.

How is he going to show anyone it can make money, other than for himself taking a big salary? The business model is completely flawed.

Where was that famous Traffic Court attorney, David Spada, to look into this Hernandez guy for North?

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There goes one over the fence..Tru Link Fence..Beauty, Privacy Security....Call Tru Link.
Murph's Union 76 Truck Stop....A great Thanksgiving Tradition!!!!

WOO LIFE!!!!

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CSFMB 2014 Nascar Pick 'em Champion

We don’t have a trillion-dollar debt because we haven’t taxed enough; we have a trillion-dollar debt because we spend too much. — Ronald Reagan

Can you?

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"Play until it hurts, then play until it hurts to not play."
http://soundcloud.com/darkside124 HOF 2013, MM Champion 2014

Can't argue too much with those sentiments.

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I totally forgot about the Cubs-Sox preview thing (like I would've watched it anyway), flipped by Comcast, and almost choked on my chicken sandwich when I saw the idiot with his big shit-eating grin sitting there under the Monsters logo with Jiggs and Jerry.

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CSFMB 2014 Nascar Pick 'em Champion

We don’t have a trillion-dollar debt because we haven’t taxed enough; we have a trillion-dollar debt because we spend too much. — Ronald Reagan

Right. All the more reason they should have said, "It's our fucking station and we want no part of being on a show with a guy who just made a complete ass of himself and screwed with the careers of many other people."

This is some crazy shit. North is looking worse everyday. Any defender should be ashamed. Comcast needs to cut this off before the writers start to bash them. If this story goes national, it will be a huge embarrassment. Corporate wont like that very much and other heads will roll

Good due diligence, Mr. Street Smarts.

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I distrust those people who know so well what God wants them to do, because I notice it always coincides with their own desires. -Susan B. Anthony