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'Nobody likes filing for bankruptcy'
That's what Air America's chief executive said after filing for Chapter 11 bankruptcy protection following a legacy of controversy, accusations, scandal and financial failure. The basic problem is that Air America failed to attract an audience, which happens to be an essential quality for a radio network.
The network has lost more than $13 million so far this year and a total of more than $40 million since May 2004. Consequentially, the Gloria Wise Boys and Girls Club is unlikely to receive any of the money Air America owes. The New York State Attorney General's office has now transferred the Gloria Wise Boys and Girls Club case involving Air America to its criminal prosecutions bureau [Michelle Malkin].
The network will remain on the air while the company, Piquant Inc., tries to scam borrow more money and reorganize, under the leadership of a new chief executive.
I actually hope they do stay on the air. Randi Rhodes was an asset to the Republican party in many ways, similar to Howard Dean. Her constant lies and personal attacks presented clearly the sad truth about Liberals - that they only have personal attacks, no real plans for America.If you're interested in the recent scandalous history of the failed network, check out this post.
Posted by tim at October 13, 2006 12:57 PM
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