Victims???? and I'm the Easter Bunny
Posted on 08/03/2005 7:31:53 AM PDT by Liz
Officials at the Gloria Wise Boys & Girls Club — under investigation for lending Air America radio nearly $900,000 — yesterday demanded that the left-wing network start repaying the money.
"Air America reached a legal agreement to have that loan repaid in full," beginning this summer, said Martta Rose, a spokeswoman for the Club, which is the subject of a probe by the city Department of Investigation.
Air America said it put on hold plans to pay back the money because Gloria Wise Boys & Girls Club was shut down by the city......."We're waiting for direction from investigators on how to proceed"........
"We are cooperating fully with the investigation and we hope to be up and running soon," said Rose. "We have a record of more than 20 years in this community." ..... the nonprofit ran a wide array of programs that served as many as 20,000 kids and senior citizens.
The club's troubles began as a result of loans made to one of Air America's founders, Evan Montvel Cohen, who was also at the same time working as a $74,000-a-year development director at Gloria Wise.
.........Gloria Wise inexplicably loaned $875,000 to help start up Air America in 2004, when Cohen, who came to NY from Guam, was desperately trying to raise $30M for the radio project.
Cohen ......was booted from Air America a month after the March 2004 launch. He left Gloria Wise in May 2004.
Air America's new owners, Piquant LLC, say they played no role in the loans from Gloria Wise.
Rose said Gloria Wise officials are conducting a search for a new executive director after the resignation June 30 of longtime leader Charles Rosen.
Rosen is credited with building the club.....to a $10M-a-year social-services operation. His salary grew.... from $104,000 in 2000 to $147,998 in 2003.
(Excerpt) Read more at nypost.com ...
Duh. It was just an accident they took tax dollars amounting to $875,000 from "the children" to finance a left-wing agenda (poster climbs back onto turnip truck).
bttt.
Nothing to see here. Move along...
ROTFLMAO
I guess this means they don't feel liable for the loan repayment.
If Rush had engaged in shenanigans like this, the media would be all over it. Watch this story die a quick death.
Sniffle---just victims----sob.
No matter which is the truth, we can look forward to a nice leftie cat fight sucking up even more leftie dollars. Pity about the children though, right Al?
When you buy a company, you buy its liabilities as well as its assets.
Victims???? and I'm the Easter Bunny
The fact that your creditor is bankrupt seldom lets you off the hook for repayment--particularly when you are largely responsible for their financial collapse.
Note tagline- true saying from my Father...
| if they were never informed of the loan
|
See other link at
http://www.freerepublic.com/focus/f-news/1455833/posts
You are so right! Just imagine if it came out that Rush or Hannity started their show with borrowed money from a Government funded group. Let alone one for kids that Rush/Hannity refuses now to pay back.
Typical liberal behavior.
"We didn't do it, but just to be nice guys we'll pay it back (when you tell us too)".
Time for the bake sale!
And the crickets chirp as I search for major MSM reporting of this scandal.
Let's see now...what's one of the Looney Left's favorite rants? Oh, yeah- "EEEEEEEvil Republicans target children & the elderly by cutting programs to help them, so the rich can get tax breaks." I guess it doesn't apply when Dumbocrats do it.
These people are so predictable. If there's a underhanded, illegal, back-door way to do something, they'll figure it out.
I always hought Air America was perpertrating a fraud on its audience. Oh, how right I was.
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It's the same people! "Piquant, LLC" consists of the same people who were investors in Progress Media, minus Cohen and Sorensen. They sold Air America to themselves, structuring the deal so that the debt stayed in the cratered entity. They'll discover that doesn't work.