"CCU" still closed nearly $10 short of the standing offer of $39.20 yesterday, but it did gain about 10% in Thursday's trading. Nothing new on the Texas-lawsuit front - where the consortium of six banks is trying to get the case moved to federal court - or the New York-lawsuit front. This morning's Wall Street Journal story says "if the deal isn't completed, Clear Channel will be back to square one in a business that has declined sharply during the months it has chased the sale" - and doing business with some "disgruntled employees" on the payroll. That's because the company allowed them to buy millions of shares of stock that's now worth less than they paid. Writer Sarah McBride says "Going forward, Clear Channel would have to incentivize those same workers" - if the deal to go private at $39.20 really does fail. On the bright side: Clear Channel owns many strong properties (plus its Outdoor division), and it would have lower debt levels than some competitors.