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The Kats Report
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"Sad and sincere" doesn't compensate for hubris and the blatant disregard for the lives of people involved with his school. The 'business model' that was used in this company was dubious at best and it finally came full circle.
I'm sure that the students are "sad and sincere" that they are now in debt for $70k with no way to pay it back.
I'm also sure that the SS employees are "sad and sincere" that they too are in debt (as former students) and now have a certification that is useless because they cannot gain enough hours to be employed by anyone else.
I'm certain that the families who have lost loved-ones are "sad and sincere" that Jerry Airola was spending more time on publicity stunts than making sure that his fleet was safe. http://www.ntsb.gov/ntsb/GenPDF.asp?id=D...
He's been feeding off the student loan system. His house of cards was doomed to fall.