In October 1992, Covganka wrote that 375 vendors had sold more than 60,000 copies of the premiere issue. But there were also growing pains. In November 1992, Lofchie incorporated StreetWise and organized a board of directors, with himself as president. In July 1993 the board hired Persons, an administrator with United Cerebral Palsy of Will County, as executive director. StreetWise is a cash business.
Vendors pay for the paper, and buy thousands a day.
We weren't inventorying the product. Persons hired an accountant, and in 1993, he brought Oliver in as circulation director. By the time I did that for a couple years, I had worn out my welcome. When he arrived at work one day in September 1994, Lofchie told him he was fired, Persons said. When Persons protested, Lofchie called the police and had him escorted from the building, Persons said.