September 13, 2006
The Invisible Hand Works Again
- Air America Radio will announce a major restructuring on Friday, which is expected to include a bankruptcy filing, three independent sources have told ThinkProgress.
Air America could remain on the air under the deal, but significant personnel changes are already in the works. Sources say five Air America employees were laid off yesterday and were told there would be no severance without capital infusion or bankruptcy.
But it's not all gloom and doom!
- The right wing is sure to seize on Air America’s financial woes as a sign that progressive talk radio is unpopular. In fact, Air America succeeded at creating something that didn’t exist: the progressive talk radio format. That format is now established and strong and will continue with or without Air America.
I think it was Chip Diller (Kevin Bacon's first role) in Animal House who said it best.
"Remain calm! All is well!"
"...five Air America employees were laid off yesterday..." but what about the other guy?
"...no severance without capital infusion..." What a vicious, heartless corporation this Air America bunch is.
"...or bankruptcy." The bankruptcy judge is going to order the government to pay severance?
"That's OK, the radio format is dead anyway." Right Rush?
Posted by: johngalt at September 13, 2006 4:54 PMJohngalt is a devoted listener, maybe he'll come up with that "capital infusion..."
Glad they proved it works.
Posted by: jk at September 13, 2006 5:14 PM | What do you think? [2]