And undoubtedly the 250,000 air travelers that subscribed to the service for $199 a year, will miss it greatly.

Verified Identity Pass provided the service which offered pre-screened security for it's subscribers. What that meant was just whizzing right past the wands and grey buckets and going to straight to the gate.

The service was honored at some 18 major airports across the country. In other words, it was a dream come true for many a frequent business flyer.

According to Verified Identity Pass, they could not "negotiate a deal with its senior creditor to continue operations". In other words, standby for the bankruptcy press release next.

Too bad! It looks like the economy is claiming yet another victim. No word on subscribers getting their money back, as of yet, either.

Meantime, it's back to the grey bucket lane effective immediately.