Monday, June 22, 2009

Fast Track Airport Lane Files For Liquidation

One of the most overhyped and underdelivering companies in the world has liquidated, less than a few years after spending a boatload of capex to purchase uber-expensive machines that ended up being complete garbage and will probably reap 5 cents on the dollar in salvage value. Cardmembers are currently in process of getting their notifications.

Clear's premise: have your retina and fingerprint scanned and bypass the secuity lane - this would have worked in principle... if it weren't for Platinum priority check-in lines for most of the existing airlines (the fact that all of them will also soon be filing for bankruptcy... again... is not relevant here), and if Clear actually had supporting infrastructure in more places than just JFK Terminal 9.

The good news is that there are still some companies left that the administration will allow to go extinct in the old fashioned way: quickly and painlessly, without the prolonged, taxpayer subsidized bleed of such T-Rexes as Chrysler and GM.

ht Ryan Sphere: Related Content
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