Air America: The Corporate Law Aspects

ProfessorBainbridge.com: "As reported in today's WSJ (available free here), Air America is in deep financial trouble:
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.Indeed, if the facts turn out to be as the article reports, there is a very high probability that investors will be able to sue Cohen and Sorensen for securities "

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New York Post Online Edition

news : "December 29, 2003 -- WASHINGTON - Startling new Army statistics show that strife-torn Baghdad - considered the most dangerous city in the world - now has a lower murder rate than New York. The newest numbers, released by the Army's 1st Infantry Division, reveal that over the past three months, murders and other crimes in Baghdad are decreasing dramatically and that in the month of October, there were fewer murders per capita there than the Big Apple, Chicago, Los Angeles and Washington, D.C. The Bush administration and outside experts are touting these new figures as a sign that, eight months after the fall of Saddam Hussein, major progress is starting to be made in the oft-criticized effort by the United States and coalition partners to restore order and rebuild Iraq. 'If these numbers are accurate, they show that the systems we put in place four months ago to develop a police force based on the principles of a free and democratic society are starting to

The Jodie Lane Project Responds to City Council Testimony

The Jodie Lane Project : New York, NY -- February 12, 2004. The City Council Transportation Committee held a hearing today to investigate the causes of Jodie S. Lane’s tragic electrocution death on January 16th. The testimony revealed a startling lack of oversight on the part of the Public Services Commission, charged with overseeing Con Edison’s compliance with the National Electric Safety Code, last revised in 1913. With only 5 inspectors at their disposal, the Public Services Commission relies entirely on Con Edison to report safety problems. Because Con Edison only reports incidents resulting in injury or death, the PSC was aware of only 15 shock incidents in the last 5 years. Con Edison has acknowledged that it actually received 539 reports of shock incidents in the same period, effectively admitting to misleading the PSC by an order of magnitude. It is not only this discrepancy that is alarming, but also the fact that the Public Services Commission, charged with ensuring

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