Air America: no bankruptcy (today)

Air America will not declare bankruptcy today:

A representative for Air America Radio confirmed this afternoon to Radio Ink that Air America Radio will not be declaring bankruptcy and explained that the layoffs at the network had to do with the move of Air America from former flagship WLIB to WWRL in New York.

~~A representative from the Clinton-affiliated Center for American Progress' ThinkProgress.org could not be reached because I didn't bother.~~

I apologize for my error. It seems that TP has issued a full and complete confession, and may only need a few years of reeducation in Morozyob, Siberia:

On Wednesday, ThinkProgress reported "Air America Radio will announce a major restructuring on Friday, which is expected to include a bankruptcy filing." We made a judgment that our sources were knowledgeable and reliable. We regret the error. We wish Air America a long and successful future.

Democratologists speculate that this means that the Bukharin faction within CAP has taken the upperhand.

Bankruptcy can't be filed on the weekends (AFAIK), but that doesn't mean that AAR lawyers won't be working then filling out the forms.

A legal question: could Air America "Associates" share some liability in case AAR's liabilities are greater than its assets? Read the label on your tote bag closely: by using it you might have shouldered part ownership responsibilities.

In any case, don't forget to sign the petition just in case.

Posted in Meta at September 15, 2006 08:35 PM

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