The sad venture that is Air America is officially as bankrupt financially as they are ideologically.

Simple accounting, really. $4 million in assets less $20 million in liabilities equals $16 million in the hole = miserable failures.

To paraphrase Yoda: "Lost their audience the Liberals have. How embarrassing. How embarrassing."

UPDATE:
Jonah Goldberg sums it up best:

If very large numbers of people wanted to listen to Air America, Air America wouldn't be bankrupt. Money would have rolled in and this keystone cops stuff would have remained invisible. But despite the best efforts of very serious Progressive types and ample up front investment and enormous free publicity and goodwill from the mainstream media, the thing still bombed. Air America was launched on the assumption that "if you build it, they will come." They didn't. And that's the moral of the story few on the left will ever admit or call attention to.

Posted by: Gary at 01:25 PM | Comments (2) | Add Comment
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