Posts Tagged ‘textron’

Arab Emirates to buy Textron – any problem with that?

Thursday, April 9th, 2009

Bloomberg

On a post over on the radio blog, I detailed how Textron got itself entangled in the Radio business.   Textron’s main products are Cessna airplanes and Bell Helicopters.  Textron is also involved in designing control systems for other military weapons.

Bell Helicopters are used by the US military and they were involved in building the new fleet of presidential helicopters that was just cancelled.  Textron was already obviously in finanical distress before that announcement.   The “war on private airplane travel” particularly hit Textron hard.

So today’s news is a group in the United Arab Emerites wants to buy Textron.  

Anyone have a problem with folks in the middle east owning the company that makes aircraft and weapon control systems for the US military, and  airplanes?

After all, we’re not at war with Islam – there is no risk here – we’re all part of the same community.

Unintended or not?

Saturday, February 28th, 2009

First you demonize people who travel in private planes.  Then you suggest that the President doesn’t really need that new fleet of helicopters after all. 

Well, Textron makes Cessna airplanes, and Presidential helicopters (as a subcontractor to Lockheed/Martin Marietta).  Textron has already maxed out its $3 billion bank credit facility.

Friday, in the midst of all the other chaos, Textron announced it is selling off the portion of its company that makes control systems for military planes, tanks, helicopters, etc… in order to “maintain liqudity”.  They also laid off a significant portion of the Cessna work force that makes mostly private planes.

Do laid off airplane workers count as “jobs lost”, “jobs not yet saved” or “George Bush’s fault”?