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October 13, 2006

Air America Radio goes bankrupt (for real this time)

It's official, and Air America Radio has finally declared Chapter 11 bankruptcy. They have assets of around $4 million and liabilities of around $20 million. The list of people they owe runs over 20 pages. It is unclear at this time whether members of AAR's "Associates" program bear any fiscal liability in this matter.

One of the people they owe is "Alan Franken, Inc." You can call him "Al", except when making out a check. They owe him $360,000, which is probably two months' worth of salary. His executive producer Billy Kimball is owed the relatively modest sum of $84k.

Like "liberalism" itself, Air America is all about the "little guy". That's why supposed former employee Betsy Goldman is going to have to fight with Rob Glaser to get the $720 she's owed. Amy Winslow is only out $204.92.

Question: Could John Conyers could push through an Air America bailout bill? Sign the petition!

Others they owe will be listed below:

INVESTORS:
Rob Glaser: almost $10 million + $475k (page 21)
Mike Papantonio: $582k + $100k (page 19) (also a host)
Eugene Keilin: $294k
Doug Kreeger: $378k
Terry Kelly: $360k +100k (page 23) (info)
Citibank: $2.5 million (?)

"TALENT":
ChuckD's Creamwerks company: $10k
Michael Piazza of the Bronx: $306.01 (the Mike Piazza? page 8)
Mike Malloy: $114k
Young Turks: $6.9k

"EXECUTIVES":
Gary Krantz $245k (former president)
Danny Goldberg: $133,333.32 (current vice chairman, former CEO)
Eileen Quigley: $29k (this: "Chief of Staff to the Chairman of the AAR Board")
Jackson Hole Group: $220k; their Jim Wiggett was named Acting CEO; apparently it didn't work out

BUSINESSES:
Arbitron: $161k
Clear Channel's KTLK Los Angeles: $558k
Diamond Broadcasting's KSAC Sacramento: $500k
Coffee Distributing Corp: $2k (they should have tried something stronger)
ICBC Broadcast Holdings: $293k (owners of WLIB)
Multicultural Radio Broadcasting: $550k (settlement of the suit over their first stations)
Press Association Inc.: $16k (the AP?)
Real Networks: $85k (run by Rob Glaser)
Shinders: $398 (site: "Minneapolis' largest collectibles retailer") (maybe a gift from/for Al Franken? Call Sheldon Drobny!)
SOS Locksmith Corp: $270 (changing the locks after Janeane left? Did Al Franken lock himself out of the studio?)
Wade Welch & Associates: $17k (the lawyer who filed the motion to keep AAR on the air... back in 2004. Such gratitude! Such irony!)
Talkers Magazine: $3600
Tri Tech Office Building in St. Paul MN: $5268

UNKNOWNS:
Delusions Inc.: $43k (page 6)
Gregory P. Berenson, who appears to be better known as Paul, a "colorist" and host of a Santa Barbara "progressive" radio show. The figure given is $0, but that's followed by another $0 amount for a Claim Representative from the CA Labor Commissioner...



Posted in Meta at October 13, 2006 12:34 PM

Comments

Delusions,Inc. A Randi Rhodes Company?

Posted by: Mikekat at November 13, 2006 04:34 PM


Monitoring Air America Radio [TM] so you don't have to.








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