The money quote:
If it nails down the new funding, JK Harris plans to resume promoting its tax services on TV stations in the 60 biggest markets. The company has been relying solely on name recognition for new business since July, but with cash running low, it needs to step up its marketing efforts in a hurry, the CEO testified.
"If we don't start advertising by the first week in January, we might as well liquidate," Harris said during Tuesday's three-hour hearing, which was laced with accounting jargon and included tearful pleas from two laid-off employees seeking back wages.
From my vantage point, Harris' comments strike me as pretty cynical. He makes no mention of the fact that his company rates a F rating at the BBB: BBB record Or why Attorney Generals around the country decided to pursue them for poor services. Or why he lost a large class action lawsuit in the first place:
I am biased, of course, but with no improvement in quality control and providing good services to their clientele, I hope the bankruptcy court says unequivocally: NO!
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