'Will the real Idleaire please step forward'

Okay, scratch my earlier: It's Knoxville-based Idleaire Inc., created with assets bought at auction from Idleaire Technologies, which is in Chapter 7, that is salivating over ARRA grants awarded 13 states, including Tennessee, where Idleaire hopes to earn a share for its truckstop power, Internet, cooling and other services delivered to truck cabs. The latest KNS story here. Earlier Idleaire reports here. Christina Sanchez's broader story today in The Tennessean mentions Idleaire, also, but the angle is truckstop electrification as an anti-diesel pollution story. The Tennessean's stories are usually not available longer than a week or so, before they go behind the paid-archive wall, so apologies in advance.

Bought out of bankruptcy, IdleAire seeks CEO

Knoxville-based IdleAire Inc. has a laudable concept that takes on added lustre during the current fuel shortage: Hook truckers' cabs (left) up to AC, TV, Internet and other comforts, and shut off those idling motors that waste fuel and leave sleeping truckers grumpy. Nonetheless, rapid growth, debt service and some management gaps led IdleAire into bankruptcy earlier this year, owing more than $300 million and having cranked operating losses totaling more than $150 million in the past two years, alone. As it attempted, ultimately unsuccessfully to stave-off bankruptcy, IdleAire was forced by lenders to retain turnaround specialist CRG Partners, an international firm HQ'd in New York City. Post-bankruptcy, CRG answers to a cluster of six investment-advisory and -management firms, who, in turn, represent the actual investors. CRG was previously credited with the turnaround of Knoxville-based Regal Cinemas. IdleAire has more than 130 sites and serves rigs operated by more than 1,600 fleet operators. The company's 2007 revenue was about $31 million, but that record sprang from a massive increase in overhead in network overhead. Trying to grow its way out of failure helped seal the company's fate. CRG is actively recruiting a new CEO with industry experience. Other key management slots may also turnover.

Judge: IdleAire shareholders should have low expectations

The Knoxville News Sentinel's update on IdleAire's debtor-in-possession bankruptcy status leaves little hope for shareholders in the tech company that they'll salvage anything. Here's our earlier post on IdleAire and an earlier statement from the company.

Idleaire cranking back up?

Knox-based Idleaire, which seemed to go up in a puff of smoke from investors' money, may be toying with an attempt at a comeback. The KNS reports a cryptic hint appeared on the company's website.

IdleAire idled, now stops completely

IdleAire, kept alive by private investors who sought to sell its assets the past two years, announced it's ceasing all operations and laying-off about 315, including 60 in the Knoxville area. The company has operated in up to 34 states, providing truckers creature comforts, including Internet access, at rest stops, allowing them to stop running their engines to keep cabs warm, etc. The KNS reports.

Tradingo.com booms in Knoxville

You never know what'll do it: In this case, Knoxville-based web-trading and -auction site Tradingo.com, latched onto debris from a demolished Buffalo Memorial Stadium, and apparently Sabres hockey fans are legion, because business is suddenly booming. The KNS reports today. An earlier MetroPulse piece. Tradingo.com COO Scott Scheinbaum, 39, (at left, in MeroPulse pic) told VNC this afternoon that he's a former staff member at failed startup Idleaire, but has worked with a number of ventures in Silicon Valley and elsewhere. A Chicago native himself, but the son of a Knoxville native, he got his undergrad in Music and Computer Science at UT-Knoxville in 1983. Tradingo.com's CEO is Thomas 'TJ' McNamara, whose dayjob is that of an SVP with DemCo Power Services Group, which builds and demolishes facilities. McNamara works from Knoxville, but DemCo is based in upstate NY. Tradingo.com is a Delaware corp.