Ultimate Electronics’ fifth largest creditor wasn’t an
electronics or white goods supplier, but a radio station. Boulder’s Daily
Camera article written by Erica Meltzer details that Ultimate failed to pay
KBCO, a Clear Channel FM station, $360,000 for sales of their annual
fundraising project, the Studio C compilation CD.
For the past 22 years KBCO has released a compilation of performances
from their on-air live concert series “From Studio C.” It always sells out
within hours. All profits are earmarked for local Boulder area charities. This
year Ultimate’s stiffing of KBCO could have spelled disaster for the non-profits,
who usually receive money from the sales, but Clear Channel stepped up and made
sure that every non-profit received their checks.
I can’t help but wonder what makes Mark Wattles, Ultimate
Electronics principal shareholder and CEO much different from Mark Shifter, who
spent time in jail for not paying charities their share of several unlicensed
raffles held on his defunct website, AV123. Ultimate’s non-payment could have
created a much more hurtful scenario than Shifters’ if Clear Channel hadn’t
stepped in to make things right out of their own pocket.
Bravo Clear Channel.