We present new high resolution angle resolved photoemission (ARPES) data for K$_{0.3}$MoO$_3$ (blue bronze) and propose a novel theoretical description of these results. The observed Fermi surface, with two quasi-one-dimensional sheets, is consistent with a ladder material with a weak inter-ladder coupling. Hence, we base our description on spectral properties of one-dimensional ladders. The marked broadening of the ARPES lineshape, a significant fraction of an eV, is interpreted in terms of spin-charge separation. A high energy feature, which is revealed for the first time in the spectra near the Fermi momentum thanks to improved energy resolution, is seen as a signature of a higher energy bound state of soliton excitations on a ladder.
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