c & v.

Liberal Radio Network AIR AMERICA In Deep Financial Crisis

Mon Jun 21 2004 11:20:16 ET

On March 30, the night before Air America went on the air, the liberal radio network threw itself a $70,000 party at Manhattan's hip Maritime Hotel. More than 1,000 guests, including Yoko Ono and Tim Robbins, drank red, white and blue vodka cocktails as they toasted the network's bid to challenge the dominance of conservative talk radio.

But behind the scenes, Air America was running out of money.

The WALL STREET JOURNAL reports on Monday: Several employees say they still haven't been reimbursed for the costs of attending the New York launch. Many of Air America's investors and executives say they thought the network had raised more than $30 million, based on assurances from its owners, Guam-based entrepreneurs Evan M. Cohen and Rex Sorensen.

In fact, Air America had raised only $6 million, Mr. Cohen concedes. Within six weeks of the launch, those funds had been spent and the company owed creditors more than $2 million. When the problems came to light, 'we realized that we had all been duped,' says David Goodfriend, the company's acting chief operating officer. Messrs.

Cohen and Sorensen say they didn't mislead anyone about the company's finances. They say they planned to invest more over time but didn't because of cultural differences with other managers.

Both resigned in early May. Five months before a presidential election, Air America should be on a roll. Instead, it's grappling with a financial crisis. Creditors are lined up at the door, and it is off the air in two big markets, Los Angeles and Chicago.

Developing...

[url]http://www.drudgereport.com/flash8.htm[/url]

:RockOn:

:lol: I second that......

Good thing both Yoko Ono and Tim Robbins dug deep into their pockets to support a cause. Both of them should get a double tap to the head. Tim Robbins is a good actor, terrible political analyst.

[quote=mylexicon][quote=cosmo]:RockOn:[/quote]

:lol: I second that......[/quote]

They have the gov't funding NPR, what else do they need? I knew it would fail.

Tim Robbins is a freakin joke!

Did anyone hear his 'chill wind' speech? Unbelievable...

[quote=cosmo][quote=mylexicon][quote=cosmo]:RockOn:[/quote]

:lol: I second that......[/quote]

They have the gov't funding NPR, what else do they need? I knew it would fail.

Tim Robbins is a freakin joke!

Did anyone hear his 'chill wind' speech? Unbelievable...[/quote]

:ROFLMAO: LoL Yea I know what your talking about, but he does make good points too in that speach. He acknowledges that the democrats of now are f~cking sh~t up, and asks "Where have all the democrats gone?" He also makes a good point about how America visualizes the war in Iraq and how we all want the Iraqies to be freed, but aren't willing to die for it, or aren't willing to "view" the death of others for it.

So he is right about that, people that think that way are naive. War and death is how freedom is won, and no other way can it be done. Diplomacy is a joke. Look back and see if there was ever a war in history, or a freedom of people's that was earned with anything other then the death of those willing to fight for it. You will see none. :shock: Hey, thats almost poetry, if i change it around a bit it will be.

War and death is how freedom is won and no other way can it be done. Your freedom and mine, was earned by the death of those willing to fight for something more imortant then having fun You think freedom can be earned in any other way? Look back through history, and you will see there is none. No other way my friend. No other way. :Bingo:

Wow.