Posted on 06/21/2004 8:48:34 AM PDT by martinidon
Air America is going bust? I sure hope they qualify for some of those airline bailout dollars.
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.
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.
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.
$70,000 dollar party? That must have been one Heck of a Buffet, though I'd guess the booze was probably water'd down...
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.
It's "only" about $$$$$$$ er, sex, er lying er,,,oh sh-t, forget it.
The only problem is that 20% of nothing is NOTHING!
This one is a loser from the get-go.
George Soros probably doesn't know that.
"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.
Does anybody know Burt Rutan's politics?
I would have thought it would be much harder to raise money for a private spaceflight.
I pray that Err Amerika stays on for a long, looooonnnnnngggg time since Al Franken is working for FREE!
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.
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