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A Few Thoughts About "Air America"

It's not worth an extended article, but I felt compelled to toss out a few thoughts:

[] The filing is Chapter 11, a reorganization, not Chapter 13 where a company is dead for real. Since the new laws passed last year make Chapter 7 a cast-iron bitch for a company which doesn't want the world to know all the details - and 'Air America' seems to have incredibly poor records on hand - that option was never in the cards. This means that the 'Air America' people really do plan to be on the air again, though likely in a regional operation instead of a national venue, unless some very rich and stupid benefactor steps forward. It also means that Air America has to come up with some sort of payment schedule for their debts which a judge will find reasonable. And bankruptcy judges are not known for a strong sense of humor.

[] I have read a number of articles from liberals suggesting that the bankruptcy filing by Air America is unfortunate, in that it wrongly gives the impression that there is no viable market for Liberal Talk Radio. I almost considered that a reasonable argument, except that I cannot for the life of me recall a single successful national radio talk show with a pro-Liberal political theme/ Anyone? Anyone? Bueller? Anyone?

[] Democrats, as we know from the Left's Foley outrage shtick, know their timing. Shewt, Gore grabbed the Popular Vote plurality in 2000 by timing a below-the-belt DUI story about Bush to run less than a week before the election. So, for Air America to file now can only mean they had run out of ways to stall, and things may actually be much worse for that company than we are hearing. If more news burbles up before November, it shouldn't affect the vote but could not help the Donks.

[] Air America, it seems, never drew up a business plan. Here's the numbers - 75% of companies which draw up a functional business plan stay solvent; 87% of those which do not create a business plan go out of business within five years.


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Comments (8)

How much of the $700K will ... (Below threshold)
Sandy P:

How much of the $700K will the kids get back? And someone theorized somewhere else the deep pockets will pick up the pieces for a song and begin again.

Ans to 2nd item: National P... (Below threshold)
GeminiChuck:

Ans to 2nd item: National Publik Radio (also known as NPLR)

4th Item: If they had an honest business plan they never would have gotten any investment

Ch. 13 is consumer bankrupt... (Below threshold)
Mitchell:

Ch. 13 is consumer bankruptcy. You meant this is not a Ch. 7 liquidation bankruptcy.

Ch. 11 allows it to continue operating and reorganize, so some delusional lib can throw more money down the rat hole. Sooner or later, it will probably die. They'll enjoy the slow death as long as they get pay checks.

Ch. 7 is only a "bitch" for consumers. It's more easily invoked for businesses.

I like my delusional Left to go quickly, rather than linger and scream and moan the miserable death that will surely come.

It's all so bizarre and creepy to hear about theft of funds for disadvantaged kids and Al Franken. They'll steal from the poor, but claim to champion the poor, all at the same time. That's the beauty part: no need for principals.

or, principles. Whatever.<... (Below threshold)
Mitchell:

or, principles. Whatever.

This means that the 'Air... (Below threshold)
Brian:

This means that the 'Air America' people really do plan to be on the air again

Point of fact... they are still on the air.

Ch. 7 is only a "bitch" ... (Below threshold)
Brian:

Ch. 7 is only a "bitch" for consumers. It's more easily invoked for businesses.

In other words, screw the common man, protect the corporations. Under laws passed by... who?

No Brian, it means you don'... (Below threshold)
Faith+1:

No Brian, it means you don't know what you are talking about. It doesn't "protect" corporations any more than it does individuals. It's more of a "bitch" to consumers because they aren't dealing with assets of a company but usually their own personal belongings.

Of course, if the reason you losing those belongings is because you acquired them without the ability to pay for them then the "bitch" of a time is really self-inflicted.

The "ease of invoking" a Chap 7 for businesses in terms of procedure comes from business', in most cases, have better records of their accounts than individuals so it's easier to get individuals the corporation owes money to some restitution.

In short, if you screw up your finances and declare bankruptcy your life is hosed up...if ACME Corporation employing 500 people goes under 500 people get hosed--plus other businesses dealing with them etc.

So, in spite of your mistaken belief that "corporations are evil" the fact is corporations are usually made up of thousands of working stiffs just doing their job. When you "stick it to the coporation" you are, in reality, screwing over the "common man" you supposedly support.

Yes, Brian, where did you g... (Below threshold)
Mitchell:

Yes, Brian, where did you get your law degree? I got mine at Wake Forest, putz.

Why don't you opine about things you actually know about. This sort of knee-jerk opinion making would lead a reasonable observer to question the basis of your other "opinions."

I love to be counseled by you Know Nothings. It makes me get up for another round of Bonk the HedgeHog. I am going to the NC Fair today.




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