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Old 03-06-2013, 01:15 PM
 
Location: Gulf Coast Texas
26,383 posts, read 14,256,814 times
Reputation: 10183

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Sierra Nevada, Embraer Win $427 Million U.S. Air Force Award

Sierra Nevada Corp. and Embraer SA (ERJ), its Brazilian subcontractor, have won a $427 million U.S. military contract to provide aircraft for the Afghan army after more than a year of delays and protests.

The Air Force award is for 20 light-attack planes, maintenance support and training, the Defense Department said today in a statement. The contract is valued at a maximum of $950 million over its lifetime.

...
The award would have boosted Beechcraft’s shrinking revenue from U.S. military contracts. The company’s prime, or direct, contracts with the Pentagon plunged 67 percent to $340 million in fiscal 2011, which ended Sept. 30, from $1.03 billion in fiscal 2009, according to data compiled by Bloomberg.

...
Beechcraft announced on Feb. 19 that it had emerged from Chapter 11 bankruptcy protection.

The loss of the contract makes it harder for Wichita, Kansas-based Beechcraft to turn around its business, Tiefer, a University of Baltimore law professor, said before the announcement.



THIS defense spending is OK in the eyes of liberals... I guess... More money and benefits to foreigners.

Obama Administration obviously is not interested in American jobs - and have steered contract money away from this company.
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Old 03-06-2013, 01:26 PM
 
Location: Deepest Darkest NZ
685 posts, read 511,247 times
Reputation: 376
Did you miss the fact that this contract was awarded to a US company, Sierra Nevada Corporation? Embraer has been making light ground-attack aircraft for some time.

Perhaps, given that Sierra Nevade Corp, is a US company, you could explain how this steers " . . .More money and benefits to foreigners. . ."?
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Old 03-06-2013, 03:09 PM
 
Location: Barrington
42,251 posts, read 32,031,830 times
Reputation: 14167
A $ billion to buy a temporary alliance and call it aircraft for Afgan to fight the good fight with the Talaban

Beechcraft, known most recently for parts and serice, entered Chapter 11 bankruptcy in 2012 and ceased production.

About $2 billlion in dept was wiped out or coverted into equity. Someone coughed up some Big Bucks in February and they emerged from bankruptcy. Press reportes they intended to focus on propeller planes.

Last edited by middle-aged mom; 03-06-2013 at 03:24 PM..
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Old 03-06-2013, 04:19 PM
 
1,076 posts, read 1,440,469 times
Reputation: 1955
Why are we buying planes for the Taliban, anyway?

Because let's face it, once we pull out they're taking over again.
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Old 03-06-2013, 04:38 PM
 
5,452 posts, read 4,237,778 times
Reputation: 5777
They have huge heroin crops. I might go with the South American planes if I needed to move lots of drugs, too.
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