Err America Woes

Y'know, it's really not nice to smile at the misfortunes of others...but in this case I can't help it. Al Franken is such an ass, and the problems at Air America are very embarrassing for him. He doesn't have the capacity to understand that, apparently, but that's the way it is. Maybe he and Randi Rhodes could do a reality show...From Fat Cat To Failure, or a title that's already been used but is appropriate, Liars Club.

Check out Michelle Malkin's blog for details.

JAS adds: How about Den of Thieves?

A lawsuit filed by an owner of radio stations claims that the transfer of ownership of the Air America radio network from Progress Media to Piquant LLC in May 2004 was a "sham" intended to maintain the network's assets while deceiving its creditors, according to documents posted on a blog yesterday.

In the suit, which was filed in state Supreme Court at Manhattan in May, Multicultural Radio Broadcasting, a radio station owner with affiliates across the country, is seeking more than $255,000 it claims it is owed by the current owners of Air America, Piquant LLC. Multicultural's complaint, as posted on the blog of Michelle Malkin, a conservative commentator, states that the station owner is trying to enforce a judgment in its favor last November, in which the court ordered Air America's owners to pay it that amount.

Since the main dodge of Piquant has been that the Gloria Wise heist was all the fault and doing of Air Scamerica's original owners, this suit may be (not to mix metaphors or anything) the straw that stirs the canary down the mineshaft.

And Cap'n Ed wonders why the New York Times keeps whistling past this graveyard?

UPDATE: Get a load of this:

Believing, apparently, that the best defense is a good offense, Air America attacked Multicultural by making defamatory claims against its President:

Radio Free America issued a scathing press release on the Air America Radio website entitled the "Sludge Report" that disparaged Multicultural's President, Arthur Liu. Among other things, the press release accused Liu of "ripping off" Radio Free America Chirman Evan Cohen. The "Sludge Report" further stated that Radio Free America was "chasing [Liu] down with a pipe wrench" and was "going to slam Liu's head in a car door." In addition, the Sludge Report published Mr. Liu's phone number and encouraged the public to call and harass him.

This last is a popular tactic on the Left, having been used against one of the Red State bloggers just last week. This time, though, it seems to have backfired, as Multicultural is apparently in no mood to take prisoners. You can see the "Sludge Report" item here; parts of it were intended to be funny, I think. But Mr. Liu isn't laughing.

If justice is done, neither will Franken & Co.

UPDATE 8/19: Piquant Media's tab is spiraling upward at an exponential rate:

An attorney whose client is suing the Air America radio network said yesterday that the May litigation is part of a larger attempt by the client, an owner of radio stations, to collect more than $1.5 million it says it is owed. ...

The lawsuit filed by MultiCultural in May charges that the transfer of ownership of Air America to Piquant LLC from Progress Media in May 2004 was illegal and was intended only to maintain the network's assets while abandoning its creditors.

"It's called a fraudulent conveyance - same people, same assets, they are just trying to avoid their liabilities," Mr. Mastro said yesterday. "A company that has debts can't just change its name, assume all the assets, and refuse to pay its liabilities. ... The same individuals who contacted us and described themselves as Piquant were also part of the management and ownership of Air America."

Meanwhile, in part deux of Brian Maloney's and Michelle Malkin's joint blogestigative report on the Air Scamerica scandal, we learn that the left-wing radio netlet is still scamming away to this day:

On July 21, 2005, a standing room-only crowd of Democrats filled a Highland Park, Illinois, public library conference room to hear two local businesspeople talk about their company and its future plans.

The attraction? These weren't your everyday corporate suits: it featured Sheldon and Anita Drobny, who last year put Al Franken and Janeane Garofalo on their upstart liberal Air America talk radio network. Hearing about their "success" was surely appealing. ...

Sheldon's wife Anita took to the podium to spill the beans about Nova M Radio.

Disclosing Air America's future plans to a room full of rabid supporters might seem smart, especially if it brings potential investors to what inside sources say is an effort to raise $5 million to fund the new company.

Was such a public disclosure legal, however? Since Nova M Radio's offering is set up as a private placement, there have been no indicated or available US Securities and Exchange Commission filings.

This is purely speculation on my part, but it wouldn't surprise me in the slightest of that five mil is secretly earmarked to pay off Multicultural Radio Broadcasting and Gloria Wise (and any fines to the State of New York) with the remainder to go towards AAR's favorite charity - its owners' pockets.

[Hat tips: Captain's Quarters]

STILL YET EVEN ANOTHER UPDATE: Welcome aboard, Tel-Chai Nationals! Ten-Forward is this way....