Michelle Malkin » Getting the Air America story wrong…again

Getting the Air America story wrong…again

By Michelle Malkin • February 26, 2007 06:50 PM

It’s up to Brian Maloney, once again, to get to the bottom of the story:

Since Air America Radio’s bankruptcy bailout by wealthy Manhattan real estate mogul Stephen L Green was announced on February 7 (and finalized yesterday), the public has been led to believe the network’s assets had fetched $4.25 million.

But the news media, led by the Associated Press, may have blown the story: in fact, Air America’s true valuation may actually be zero!

Did anyone examine the filings?

That’s the stunning conclusion reached by bankruptcy expert Donald J Quigley, a Denver- based attorney who has been assisting your Radio Equalizer on this matter for several weeks.

Quigley is associated with Denver’s Block Markus Williams LLC and as a matter of disclosure, one of the company’s creditors is a distant relative.

Could this be but the latest chapter in Air America Radio’s ongoing shell game, where insiders always manage to stay one step ahead of investors and creditors?

Out of the reported $4.25 million purchase price, according to our legal expert, “$3.25 million is illusory: that’s money that Rob Glaser had already loaned to the company. Air America already blew through this by continuing to operate during bankruptcy at a loss rate of $1m per month…

Read the whole thing. You, too, MSM.

Posted in: Air America

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#147253

On October 16th, 2007 at 4:13 pm, SeniorD said:

Well, it seems that even a tipsy talker falling down can spin the Left into ever higher invective. How in the world could anyone believe a conservative stalker would have assaulted Randi Rhodes? To say she (and her radio ‘network’) is meaningless puts too much truth in the ’story’.
#147292

On October 16th, 2007 at 5:08 pm, On-my-soap-box said:

Air America already blew through this by continuing to operate during bankruptcy at a loss rate of $1m per month

Could they please shut up for a month and send the million bucks to our organization? We sure could do more good with it!

Well, flushing it down a toilet would do more good.

A man can dream.
#147304

On October 16th, 2007 at 5:25 pm, On-my-soap-box said:

LOL – old story. Time to go home and take a nap. My age is showing.
#147388

On October 16th, 2007 at 7:49 pm, meatpieandtatters said:

More artful turd polishing. The best Air America can ever hope to achieve is a very dull luster.