If someone felt like it they could buy the note from Gloria Wise, most liekly at a discount, and call it in for immediate payment. AA would either have to pay it in full or turn over their assets to the new note holder. I'm guessing that the assets of AA are non-existent or nearly so or they'd have been able to borrow enough to put this behind them and get back to doing what they do best, spreading hate and envy.

I believe they have started paying into an escrow accout -- one controlled by their own lawyer! (Quick search...) See Michelle Malkin's great coverage! (http://michellemalkin.com/archives/003186.htm)

Instead of paying into an escrow account as suggested by the NYC DOI or Spitzer's office, they are paying into an escrow account set up with their own lawyer, as the other poster says and links to.

But my reason for posting is because as I was reading some posts on this issue yesterday, I seemed to remember an earlier problem about Air America making payroll.

Didn't they have a problem making payroll a while back, about the time Al Franken and Bill OReilly were fighting about the title to Al Franken's book? I seem to remember that someone, possibly from PBS, was in Air America headquarters, and was filming the talking heads while on/off air for whatever documentary or news story was going to run on the third party station (if it was PBS, or one of the PBS radio channels, or something like that).

My recollection is that one woman was ranting in a mirror and to others how Al Franken was getting all the attention when she had many years of experience in radio, and she was the one that should be getting the attention and ratings. During the same filming date, they cut to a meeting held at Air America headquarters, where the staff is told there is no more money for payroll. And meeting payroll in the future was all up in the air.

Anyone remember this? Was it possibly broken by Drudge? Someone want to check his archives, and see if the dates of when this was happening coincided with the theft from the boys & girls club?

If I have it archived, I'll post with further info later.

I go driving cross-country and look at all the stuff I missed.

Brian's got the word that AAR like so many companies uses ADP for payroll. I don't believe the problem would have been with ADP's side of the transaction.

Paul: whatever logistical problems AA might have had with setting up payroll and the like ought to have cleared up before the first payroll was processed. Once things are set up, the only reason for a glitsch is a failure to send the money to the processing company for distribution to employees (the folks at ADP are pretty smart -- they don't advance payroll, even for liberal outfits such as AA).

Air Smells...

I think the drudge report you are referring to is here...

http://www.drudgereportarchives.com/data/2005/03/24/20050324_151800_flash3aa.htm

March 25, 2005

Gee, "missing payroll" can be a criminal offense in itself in most states (non-payment of wages within a defined period of time from when they are earned).

I'd love to see the escrow agreement between AAR and its attorney/escrow agent. Typically an escrow involves (at least) three parties -- the debtor, the creditor and the escrow agent. The agent is bound to do only what both of the principals jointly agree that he do.

Bullwinkle -- in light of the highly dubious status of AAR now, how could Gloria Wise's Board of Directors turn down a decent arm's length offer to purchase the note? It would be yet another questionable exercise of their fiduciary duty, perhaps?

Let's see.....$800 k + ---- only 160,000 $5.00 contributions to someone's PayPal!

Hmm, I see an idea brewing here! You rascals! So if various conservative blogs raised the $$ to buy out the note from the Boys and Girls Club, could those blogs take over ownership of Air America's "assets" ? Would that include Jeanene Garafalo and Al Franken? Could we make them become our pet mascots? Make them read scripts written by Jay Tea, Paul and Kevin? Hee hee, if Soros and/or Hillary turn out to be secretly connected to Air America, can we demand repayment from them? With the usual percentage accruing on a monthly basis for late payment? Oh gawd, after resisting truth and freedom for so long and so arduously, what hilarious karma it would be if they had to fork out to conservative blogs!

If the NY Boys and Girls Club funding was indeed public, then perhaps a court fund would be appropriate. A restitution fund ordered by the court pursuant to the convictions of Ms. Wise and knowing board members and recepients of the funds (Al Franken?).

Kind of like the George Galloway organization Mariam Appeal's "missing" financial records......

George (not Galloway I hope :) - yes, the parallels with the UK MP Galloway's Mariam Appeal "charity" came to my mind also, with its laundering of Oil-for-Food Iraq monies. Particularly since one of Soros' front groups, ACT, was disbanded nationwide last week... and there go the files and financial records. I wonder where ACT's assets will be transferred. I'll go check if the blogosphere's expert on Galloway, "Seixon," has made any observations at his site yet.