“Air America Radio today filed for bankruptcy, listing liabilities in excess of $20 million and assets of only $4 million. The Chapter 11 filing by Piquant LLC, the radio network’s parent company, was made in U.S. District Court in Manhattan,” The Smoking Gun reports.
“The company’s single largest creditor is Rob Glaser, founder of RealNetworks, who is owed $9.8 million, according to the bankruptcy petition,” The Smoking Gun reports. “The list of Air America’s creditors runs 25 pages, and includes on-air personalities like Al Franken ($360,749.98) and Chuck D ($10,749.99), as well as law firms, landlords, limousine firms, and a variety of other businesses.”
An excerpt of the court filing showing all Air America debtors here.
“The network will continue to operate with funding from its investor group, led by RealNetworks Inc. CEO Robert Glaser, who owns 36.7 percent of the company, and two other former board members,” Seth Sutel reports for The Associated press.
“Air America had dismissed rumors just one month ago that it was planning to file for bankruptcy protection. Spokeswoman Jaime Horn said Friday the filing became necessary only recently after negotiations with a creditor broke down,” Sutel reports. “Court documents showed that MultiCultural Radio Broadcasting Inc., a creditor with whom the network had tussled in its early days, had Air America’s bank accounts frozen.”
“Glaser had previously served as the company’s chairman… Horn said Glaser and Franken were unavailable for comment Friday… Air America has struggled financially since its inception. Court documents show the company lost $9.1 million in 2004, $19.6 million in 2005 and $13.1 million so far in 2006,” Sutel reports.
“Radio talk show host Rush Limbaugh, whom Franken lambasted in a book called ‘Rush Limbaugh is a Big Fat Idiot,’ took a jab at Air America’s worsening situation on his talk show Friday after a listener called in to ask about it. ‘I’m not surprised _ it was doomed to fail,’ Limbaugh said. ‘They were not a broadcasting concern to begin with. … They went into business to affect elections.'”
Full article here.
In related news, Krispy Kreme Doughnuts (Nasdaq: KKD) announced that this situation could potentially have a direct negative impact on the company’s revenue, but expressed confidence overall since Glaser did get a $761 million life preserver* from Microsoft last October.
*Yes, it cost $761 million. A life preserver sized to fit a small moon doesn’t come cheap.
Related articles:
Real CEO Glaser calls Apple iPod owners thieves – May 11, 2006
MTV-Microsoft URGE music service not targeting iPod, iTunes users; Real CEO PlayedF – December 13, 2005
Real’s Rob Glaser calls Apple’s Steve Jobs ‘pigheaded’ – December 06, 2005
Real’s Glaser: Apple iPod+iTunes ‘will lose out because of the share of market forces against them’ – October 29, 2005
Real CEO Glaser calls Apple ‘deceptive’ with iTunes Music Store – March 07, 2005
RealNetworks’ CEO Rob Glaser grabs 3 of top 10 spots on ‘Dumbest Moments in Business 2005’ list – January 31, 2005
Real’s CEO Glaser: ‘Harmony’ hack legal, Mac lovers are very sensitive to Apple criticism, and more – September 14, 2004
Analyst: Rob Glaser’s ill-advised war against Apple ‘is going to bite RealNetworks on the ass’ – August 30, 2004
NY Times: Real’s Glaser was close to having iPod before Apple, but let it slip through his fingers – April 24, 2004
Real’s CEO Glaser: Apple’s iPod/iTunes combo ‘threatens to turn off consumers’ – April 20, 2004
Jobs to Glaser: go pound sand – April 16, 2004
Real CEO Glaser begs Apple to make iPod play nice with other music services – March 24, 2004
Real CEO Glaser: ‘iTunes is only going to be used for playing songs you bought using the iTunes store – January 16, 2004
Rush Limbaugh and Apple Computer to intro new podcast service via iTunes – March 08, 2006
Rush Limbaugh announces video podcasts for Apple iPod starting December 12th – November 30, 2005
Rush Limbaugh and Apple Computer working to bring podcasts of radio show to iTunes Music Store – May 17, 2005
Rush Limbaugh says ‘Mac OS X Tiger Rocks,’ posts link to free Rush advertisement for Mac – April 30, 2005
The Hill: Put Rush Limbaugh on Apple’s board of directors; he could sell tons of Macs – January 26, 2005
Rush Limbaugh: Why does Apple put politics first? – June 27, 2003
Rush Limbaugh comments on Gored Apple – March 21, 2003
Andrew, I wasn’t implying that everybody who USES Macs are limp wristed dirty looking hippies. Those who have a vested interest whether it be employees of Apple or zombies who take it upon themselves to spread the good word of OS X in an attempt to dethrone Windows and convert the world were my target. The obsessive ones, the “Mac Zealots.” None of those people have a conservative bone in their bodies. This includes the MDN staff and as such it would be ridiculous to assume they posted this article on behalf of some ulterior right-leaning agenda. That was my point.
Then there’s people like us, those who can appreciate the operating system for its simplistic efficiency at work or during downtime without falling victim to the underhanded liberal vibes at Apple. We’re the warriors here.
All of you outsiders thinking old Richard Nixon is somehow a reflection of the average American Mac consumer are sadly mistaken. Take a peek at that young half-a-homo Mac Guy in the “Get a Mac” commercials who looks like he never held a job in his life to see what true Macheads look like these days. They’re flaming Jesus-sandal wearing liberals who want open borders, gay marriage (along with polygamy and everything else it will bring), and to treat captured Al-Qaeda members like royalty. Not me. I’m a dinosaur, one of the holdouts from the “Apple Macintosh” era who refused to convert his entire workload to Windows. I’m not one of them so don’t take what you may think of me out on them.
RMN
Well put Jerry T! That gspank person is very creepy.
Well put Nixon!
All this talk about how Dems would be no good in a war, yet wasn’t FDR a Democrat? And didn’t he have to resort to some roundabout ways to both support the Allies before actually entering the war, as well as preparing America’s own Armed Forces for the (likely) coming conflict?
It’s so funny how all of the libs hate Fox News. The best news source around. Interesting how it blows all of the other news channels out of the water. What’s that telling you libs? Good luck in November, you’ll need it.
FDR and even John F. Kennedy were nothing like the libs of today. They were more conservative than todays Republicans. Great try macaholic but you blew it.
No, Nixon, you’re not a dinosaur, you’re just delusional. Your brain, in an attempt to make sense of this world, has classified large groups of people into an outlet for your own failure and anger. Like when Hitler made the Jews the scapegoat for the Germans. Only you do it with “Mac Zealots” or “Liberals” who you think are somehow the same thing. You then proceed to make stuff up. The half homo remark is hilarious. That actor probably has gotten ten times more pussy than you’ll ever get. Treating Al Queda members like royalty!!!! LMAO!!! That is too funny. Dude, that’s what you want to believe. It’s sad.
No gstank, you’re the one who’s delusional. Nixon was mostly spot on with you libs. Own up to it gstank.
Towertone,
Where did I claim to be a ‘liberal’?
WRT, my ‘flamers’ jab. I was conflating the ‘internet flame warrior’ term — which you likely understand — to the uni-gender parade participant, that many of you God-fearin’ moralists claim that God ‘hates’. (Umm, God is a hater? Is that possible?) It was — if you will — an intentional juxtapositioning of terms to allow for controversy.
That you don’t ‘like’ my brand of satire doesn’t invalidate it.
Regarding your personal theory of my own form of ‘religion’, I would have to confess that perhaps I do have a kind of faith. But, I find actual religions to be extremely distasteful. FWIW, I could much sooner have faith in God, than ever participate in any human-created, God-based, religion. Name one religion that hasn’t been poisoned by human avarice, treachery, hate… the list is very long. Religion is a human construct, and I seriously doubt that a God would need us to built ever bigger churches to prove our love.
As per the ‘alone’ business in my post — which you ignored, because your feelings were offended (I’m sorry, will you forgive me? Can I just ignore you, and ask God for forgiveness?) — I have ‘faith’ that we humans have the ability to love each other — without the instructions from, or fear of reprisal from, an omnipotent being.
B,
I need as much luck with my particular faith as you do with yours. Remember we both have to live on this planet. That is until the omnipotent God banishes me to Hell for not believing in him. Or one of the believers burns me at the stake to ‘prove’ their own belief.
And as I recall, there have been far, far fewer: wars; murders; lynchings; torture; genocide; et al., performed by ‘all’ of the non-God-believes during ALL of human history THAN there has been by God-believers in the past one hundred years. [FWIW, I won’t include all wars; murders; lynchings; torture; genocide; performed in the name of Zeus or Ra either!]
Also, most people ignored Einstein’s ‘scientific theories’ until other scientists could prove or disprove his theories using the scientific method. And it appears as tho’ most people ALSO ignore his actual ‘religious’ or ‘faith-based’ views and assume that they were Abrahamic-based. FWIW, he thought Buddhism would most closely answer his ideal description of a natural and spiritual ‘religion’.
[In response to the telegrammed question of New York’s Rabbi Herbert S. Goldstein in 1929: “Do you believe in God? Stop. Answer paid 50 words.” Einstein replied “I believe in Spinoza’s God, Who reveals Himself in the lawful harmony of the world, not in a God Who concerns Himself with the fate and the doings of mankind.”]
Why must you insist that I — a lowly human — PROVE that God exists? Isn’t God capable of revealing himself in a manner that humans could recognize? He’s created the universe already, can’t he pop by for a visit? And, as I’m very inexperienced, may I prove that Santa exists first? Then move up to Easter Bunny?
So anyway, thanks for not commenting on the actual crux of my post. Finding tautology, spelling, punctuation and grammar mistakes may be your best hope of disguising your inability to debate and your inability to distinguish between a persons’ actual argument [FWIW, in 2 words — religious hypocrits.]and your feelings toward one tiny part of it.
I won’t ignore you, G-Spank. Tricky Dick will pay you some attention now, okay?
“But all in all, it’s been a fabulous year for Laura and me.” (Summing up his first year in office, three months after 9/11 attacks.)
— December 20, 2001
I have no need to duck that one. You see I’m not one of these conservatives who hides behind 9/11 yet won’t admit the fact that we exploit it. I recognize our position for what it is and even though I’m sorry to see 3,000 American lives lost, 2001 WAS a fabulous year for George W. Bush. That attack opened our eyes to the threat that existed all along, a threat that went ignored during eight years of the Clinton administration’s reign. The inevitable happened and has since served as a stark reminder of why we must remain in power, why America needs Republicans to protect this great country. Without 9/11 we’d still be blind.
I have no shame in admitting that 9/11 was the best thing that ever happened to the modern Republican party. Sometimes you need to suffer a loss before you’re ready to wake up and make a much needed change in life.
RMN
G-Spank… it is easy to take quotes out of context and make anyone look stupid.
How about putting your quotes back into context.
The ““But all in all, it’s been a fabulous year for Laura and me.” is one sentence, out of context, from a off-the-cuff discussion with reporters that started with a conversation about a new carpet for the oval office on December 21, 2001. Remarks on the New Oval Office Carpet and an Exchange With Reporters.
That conversation did indeed mention the event of 9/11 and in fact covered quite a bit of the details of what had transpired since the attack. The President said such things (also out of context) “We will continue to ask the good Lord’s blessings on America during the holiday season, particularly on those who suffered incredible loss,” and “. . . our Government has responded to the attacks on America: Got a good strategy in the first phase of the war, to rout terror; held the doctrine that says that we will bring the murderers to justice and we will hold those accountable who help the murderers; responded quickly to threats to our homeland.” He also stated, in the same discussion “Every morning I come into the desk, and I would read the threat assessments to America. And it reminds me that my most important job of all is to protect the American people from further attack.”
President Bush finished with this, in answer to the question “Are Americans safer today?”: “So yes, the country is safer. Is it still – totally safe? No. And that’s why, as I’ve told you, my main job, my main worry for America is to prevent another attack. Every morning at 6:50 a.m. in the morning, I come in here, and I think about the possibilities. And every day I meet with the FBI Director and Tom Ridge and John Ashcroft, along with George Tenet, reminding them that we have an awesome responsibility to do whatever we can to protect the American people.”
That’s quite a bit different, don’t you think?
Ok, I’m off to watch a movie, monkeys. Have fun trying to bash me and other “libs” with the best insults your little monkey brains can come up with. I’ll be impressed if a few of you monkeys can form a sentence properly, or make it through an entire post without any spelling errors. (hint: there’s an easy spell checker on your Mac)
PS: Honestly, “terrorist lover” has gotten very old. I think you guys can come up with something equally stupid, but at least different.
I had a real bad experience last night!
“All this talk about how Dems would be no good in a war, yet wasn’t FDR a Democrat? And didn’t he have to resort to some roundabout ways to both support the Allies before actually entering the war, as well as preparing America’s own Armed Forces for the (likely) coming conflict?”
You know good and damn well that if FDR came back from the dead the first thing he’d do is change his political affiliation to Republican. That is if his utter disgust with the secular, MoveOn-hijacked Democratic party didn’t shock him into a heart attack first.
It’s the same with many other Democrats of the past like JFK and the Reverend Dr. Martin Luther King, Jr. If Dr. King was alive, allowing his Christian beliefs to dictate his direction in life, you’d brand him a religious nut and FORCE him out of your party’s clutches the same way you did Joseph Lieberman.
If the Democratic party of the past still existed, I’d be a damn Democrat. Stop fantasizing about the past, alcohol—I mean macaholic.
RMN
I’ve been watching this debate all day… and I find that I agree with something that RMN just said.
if the democratic party of FDR was still around I would be a democrat.
Here’s to hoping that a centrist wins the next presidential election.
I bet you did, G-Spank’s boyfriend. Was G a little rough last night? Didn’t use enough KY? Lmao.
He’s off to see a gay porno tonight so maybe you’ll get some much needed rest and relaxation.
RMN
Damn, just when I think I cn get out. Two different views from two conservatives who seem to have a brain on their shoulders. Nixon is happy 911 happened to us! And Swordmaker wants to put the quote in perspective. And the quote reads: “ALL IN ALL, it’s been a fabulous…”
ALL IN ALL. I’d say that sums it up pretty good. Yep, good times, good times. Those were the “fabulous” days. I’m sure Bush will look back at 9-11 with nostalgia.
seriously – it was a real bad experience. I was disappointed again!
oh, and in case you’re wondering. It really should be g-spank, not G-Spank. (soto voce – If you know what I mean)
“What were we talking about?”
Chicken Little
Let’s look at another one of your “suspect” quotation from the President: “We need an energy bill that encourages consumption.” which was not only taken out of context but converted phrase in a complex sentence to a simple declarative sentence. The phrase actually appears in a couple of Bush’s speeches… both in sections talking about creating jobs. An example of how our of context your quotation is seen in the following section from a larger speech:
“Yesterday we learned we’ve created 1.9 million new jobs in the last 13 months. We’re on the move. The national unemployment rate is 5.4 percent. That is lower than the average of the 1970s, 1980s, and 1990s. Farm income is up. Small businesses are flourishing. The entrepreneurial spirit is strong. Homeownership rates are at an alltime high in America.
There is more to do. To make sure jobs stay here in America and this economy grows, we need less regulations on our job creators. We need legal reform in America. We need to make sure we have an energy plan that encourages consumption, that works with renewables, that explores for coal by using technologies to protect our air. To make sure jobs are here in America, America must be less dependent on foreign sources of energy.”
“Bush LIED. Where are the WMDs?
Attack me if you must… but where are the WMDs?”
Part of your question is indeed the most important of all. Where are the WMDs. Regardless of whether you love or hate the current President. Those WMDs did exist in Iraq. This is why the UN went so hard after them…or at least pretended to. While we are quibbling about who said what and when (Clinton referred to Iraq’s WMDs many times as well), those weapons did not vanish into thin air. Somebody has them, and that should be our focus.
Next one: “I’m also not very analytical. You know I don’t spend a lot of time thinking about myself, about why I do things.”
Again, completely out of context. The President was responding to a question about how he conducts meetings and what he does DURING those meetings… particularly with foreign diplomats. <a href=”http://www.presidency.ucsb.edu/ws/index.php?pid=346&st=lot+of+time+thinking+about+myself,&st1;=”>Source – Interview With Members of the White House Press Pool
Another: “You know, one of the hardest parts of my job is to connect Iraq to the war on terror.” This was taken from an off-the-cuff response in an interview with Katie Couric:
“COURIC: You have said we can’t cut and run on more than one occasion. We have to stay until we win. Otherwise, we’ll be fighting the terrorists here at home on our own streets. So what do you mean exactly by that, Mr. President?
BUSH: Well, I mean that a defeat in Iraq will embolden the enemy and will provide the enemy – more opportunity to train, plan, to attack us. That’s what I mean. <u>There – it’s – you know, one of the hardest parts of my job is to connect Iraq to the war on terror.</u> I believe it. As I told you, Osama bin Laden believes it. But the American people – have gotta understand that a defeat in Iraq – in other words, if this government there fails – the terrorists will be emboldened, the radicals will topple moderate governments.
I’m worried, Katie, strongly worried about a world if we – if – if we lose, you know, our confidence and don’t help – defeat this ideology, I’m worried that 50 years from now they’ll look back and say, “How come – Bush and everybody else didn’t see the fact that these – this group of people would use oil to affect our economy?”
Or, “How come he didn’t confront the Iranian threat and its nuclear ambitions?” Or, “Why didn’t you support the moderate governments there in the region?” And – I – I truly believe this is the ideological struggle of the 21st century. And the consequences for not achieving success are – are dire.”
Again, very different from the simple declarative sentence taken out of context from a complex answer.
And finally, G-Spank, your quote: “And a political candidate who jumps to conclusions without knowing the facts is not a person you want as your Commander-in-Chief” was taken, again completely out of context, from a series of campaign speeches by President Bush on October 27, 2004 where he was speaking about Senator Kerry.
“Now, the Senator is making wild charges about missing explosives, when his top foreign policy adviser admits he does not know the facts. He said, quote, “I don’t know the truth,” end quote. But think about that. The Senator is denigrating the actions of our troops and commanders in the field without knowing the facts.
Our military is now investigating a number of possible scenarios, including that the explosives may have been moved before our troops arrived. This investigation is important. It’s ongoing. <u>And a political candidate who jumps to conclusions without knowing the facts is not a person you want as Commander in Chief</u>.
Unfortunately—-
Unfortunately, that is part of a pattern of a candidate who will say anything to get elected.”