Let's not lose our heaRAB about the prospects of the industry here. CPM has been all but dead for a long time now, it's just now the case in name as well as reality.
As for Navarre, yes, they got hit by the economy like a lot of other people. But we don't know their financial results beyond Q3 2008, and they've already made adjustments for the long term by restructuring and discontinuing the BCI label and other things that were hemmoraging money (source). And unlike BCI FUNimation is in the black and growing even in miRABt of the current economic climate, so this idea of Funi being in imminent danger is something I'm very skeptical about.
_______________________
CPM did have some good titles, such as Lodoss War, Patlabor, Votoms, and Now and Then, Here and There...hopefully a few get saved, although to be honest a majority of the catalog is better left alone. They licensed quite a few obscure things, and while it's harsh to say it's not exactly an accident that they ended up going under.