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Liberal Radio Network AIR AMERICA In Deep Financial Crisis
Drudge ^ | 06/21/2004

Posted on 06/21/2004 8:48:34 AM PDT by martinidon

Looks like the liberals answer to RUSh is in deep do-do! How the hell can they be so disorganized?


TOPICS: Extended News; News/Current Events; Your Opinion/Questions
KEYWORDS: airamerica; franken; liberaltalkradio; radio; theyrecommies; theyreliberals
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To: martinidon

Air America is going bust? I sure hope they qualify for some of those airline bailout dollars.


81 posted on 06/21/2004 10:37:27 AM PDT by Brilliant
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To: aegiscg47

I was even signed up over there until last week. I made no attempt to hide as I used the same id over there as I have here. I think the mods finally took a closer look at me after I had the temerity to lob a monkey wrench at one of their, for lack of better teminology, circle-jerks. Someone had posted that since President Bush came into office, Jewish holocaust survivors were committing suicide because they saw the rise of the new Hitler. Their basis for these assertions were two authors they claimed committed suicide. Neither one was American, one relived his time in the concentration camps daily and spent his life secluded in Italy, the other actually died of heart failure. The alert was evidently sounded on me after I pointed this out.


82 posted on 06/21/2004 10:47:15 AM PDT by kenth
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To: martinidon
Several employees say they still haven't been reimbursed for the costs of attending the New York launch. Many of Air America's investors and executives say they thought the network had raised more than $30 million, based on assurances from its owners, Guam-based entrepreneurs Evan M. Cohen and Rex Sorensen.

In fact, Air America had raised only $6 million, Mr. Cohen concedes. Within six weeks of the launch, those funds had been spent and the company owed creditors more than $2 million. When the problems came to light, 'we realized that we had all been duped,' says David Goodfriend, the company's acting chief operating officer.

Lefties stealing from each other?? They can just call George Soros for a bail out loan.

83 posted on 06/21/2004 10:48:29 AM PDT by <1/1,000,000th%
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To: martinidon

I think Mr. Soros is wise to avoid this little disaster. Only having 20% of the money in the bank that you're telling investors that you have is very, very naughty.


84 posted on 06/21/2004 10:49:24 AM PDT by Billthedrill
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To: Snowy

$70,000 dollar party? That must have been one Heck of a Buffet, though I'd guess the booze was probably water'd down...


85 posted on 06/21/2004 11:06:26 AM PDT by Mr. C
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To: raccoonradio
Very interesting story, thanks.

Anita Drobny will be chairwoman of the board of the new company, according to people familiar with the deal.

The purpose of the transaction is twofold: to eliminate Cohen and his partner Rex Sorensen's shares in the company, and to insulate the cash-strapped network from any debt or other obligation that Cohen may have incurred.

Looks like there's a great brawl brewing.

86 posted on 06/21/2004 11:22:23 AM PDT by Madame Dufarge
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To: martinidon

It's "only" about $$$$$$$ er, sex, er lying er,,,oh sh-t, forget it.


87 posted on 06/21/2004 11:37:03 AM PDT by Waco
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To: Eric in the Ozarks
"What a remarkable deal that would make. Rush finances the Lib radio net at, lets say, 20 percent ?"

The only problem is that 20% of nothing is NOTHING!

This one is a loser from the get-go.

88 posted on 06/21/2004 11:38:13 AM PDT by LADY J
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To: LADY J

George Soros probably doesn't know that.


89 posted on 06/21/2004 11:41:54 AM PDT by Eric in the Ozarks (STAGMIRE !)
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To: BraveMan

"Hark! Air America in financial trouble?
I, Soros Superman, will rescue them!"

I had so hoped that ErrAmerica would suck Soros' pockets dry...maybe it will yet.


90 posted on 06/21/2004 12:15:13 PM PDT by Liberty Valance (Keep a simple manner for a happy life :o)
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To: Liberty Valance
Hey, I think they've solved their solvency problem!


91 posted on 06/21/2004 12:33:32 PM PDT by COBOL2Java (If you can read this, thank a teacher. If you are reading this in English, thank a soldier.)
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To: randog

Does anybody know Burt Rutan's politics?

I would have thought it would be much harder to raise money for a private spaceflight.


92 posted on 06/21/2004 3:50:01 PM PDT by Better Dead Than Red (Davis College Republicans (Best Party on Campus))
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To: mlbford2

I pray that Err Amerika stays on for a long, looooonnnnnngggg time since Al Franken is working for FREE!


93 posted on 06/21/2004 6:25:55 PM PDT by Ann Archy (Abortion: The Human Sacrifice to the god of Convenience.)
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To: NotQuiteCricket

No the were run out of town on a rail quite some time ago.

The crux of the dispute, by Air America's own court filings, was they failed to pay for services in the LA market timely but that they were "negotiating" with the company that owned the station so what right did they have to throw them out ?

The argument as to why they were tossed out of Chicago was that even though both the LA and Chicago markets were with the same broadcast company that each contract was a seperate entity.

They DID win a temporary order requiring Multicultural to put them back on the air in Chicago but not in LA.

At the 11th hour they reached a "negotiated settlement" wherein they agreed to quit trying to get back on the air in either market. Probably in exchange for not having their broadcast studios siezed and sold at auction to pay for the debts they owed the station owner.

And thats from their side. I'd love to hear the other side because its probably worse.


94 posted on 06/21/2004 7:27:36 PM PDT by festus (The constitution may be flawed but its a whole lot better than what we have now.)
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