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Air America already liberal, effete, gay, about to become French

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The French family, owner of NY TV station WRNN, is about to purchase the assets of Piquant LLC, the investor consortium that owns Air America. The Frenches and Air America are joining the ranks of bankrupt entities and the merging managers who merge them, all so Richard French, son of Dick French (that is not a typo, honest), son of Giant Throbbing Schlong French, can be given another nightly TV show.
Piquant LLC filed for Ch. 11 on October 13, 2006 and has actively been courting potential buyers with iPod adaptors for the Toyota Prius and bootlegged tapes of the ’97 Lilith Fair. When it isn’t taking illegal loans from local Boys and Girls Clubs, Air America is writing IOUs to its creditors on recycled free-trade stationary processed by great horned owls indigenous to areas deforested by large paper companies. The station has almost $20mm in short term liabilities, mostly owed to the defense company contracted to build a Coulter-proof fence. Also a big chunk of non-satirical money is owed to Al Franken, Citi and RealNetworks CEO Rob Glaser.
Those silly tax and spend liberals have a lot to learn from their fiscally prudent republican counterparts, and probably shouldn’t have thrown a $70k partybefore launching at the Maritime to reinforce the perception of liberal as homosexual sailor.
Air America Nears Sale to Group Led by the French Family – [WSJ]


Rarefied Air

A few years ago I was fortunate to attend a lecture given by Paul Wilmott challenging the wisdom of modeling derivatives on the assumption that there is no arbitrage. He floated an alternative approach (as but one of many possible heterodox approaches) outlining the pitfalls therein – chiefly the difficulty of convincing investors to bear with you until your thesis proves out – and toward the end he took questions. Some brave soul asked him, “Where does the money come from?”