Phony Sale of Air America?--Updated
Captain Ed does some digging
and discovers that apparently the main purpose of the sale to Piquant was to shed the debt that Air America had acquired; newspapers at the time even noted this purpose.
Note that this contradicts what Al Franken claimed
on Monday, that the debt was discovered during a "forensic accounting" examination by the company, and that Rob Glaser had said that legally they didn't owe the money, but morally they did, so they decided to make arrangements to pay it.
Update: Macho Nachos
was all over this awhile ago
. There are times when good small bloggers are ahead of the story and then don't get credit for that when the rest of the blogosphere catches up; kudos to Captain Ed for recognizing Macho Nachos.