Wed, Jul 18, 2012
Buffenbarger: 'The Sale Should Not Be Rushed Through'
The International Association of Machinists and Aerospace Workers (IAM) today filed papers in U.S. Bankruptcy Court opposing an attempt by Hawker Beechcraft, Inc., to expedite the sale of its assets to a little-known Chinese company, Superior Aviation Beijing Co., Ltd. (Superior).
“The proposed sale of Hawker Beechcraft to a Chinese government-backed entity has broad implications for the U.S. economy and national security,” said IAM International President Tom Buffenbarger. “The sale should not be rushed through without adequate scrutiny by all interested parties, including federal regulators, state officials and the Wichita community. As the necessary review process has not yet commenced, giving Superior the exclusive right to negotiate the purchase of Hawker at this time is premature.”
In its court filing, the IAM expressed serious concern that the sale could facilitate the transfer of valuable commercial and military-related technology to China, leading to the loss of high-skilled, high-paying aerospace jobs while compromising U.S. national security interests. “While Superior claims that it does not intend to purchase or control Hawker’s defense-related businesses, Superior would retain an interest in the defense businesses and would be entitled to receive proceeds from the eventual sale of those businesses,” said Buffenbarger. “Such terms and conditions warrant the most serious scrutiny from members of Congress and the appropriate intelligence agencies.”
The proposed Hawker-Superior sale agreement also requires the termination of all three of Hawker’s defined benefit pension plans, including the one for more than 3,500 IAM-represented members employed at Hawker Beechcraft. “The prospect of lost pension benefits for Hawker’s workers, while China’s aerospace industry benefits from the transfer of valuable U.S. technology is simply outrageous,” said IAM Aerospace Coordinator Ron Eldridge.
"There are a million reasons to pick the C-130J, as the Hercules continues to demonstrate the ability to fulfill any mission at any time. Not only is this milestone a testament to >[...]
Several years ago, ANN's first web-geek, Al Pike, designed a small "portable" News Ticker that offers current ANN headlines detailing what is happening in the aviation world. It ca>[...]
Aero Linx: Aerospace Medical Association (AsMA) The Aerospace Medical Association (AsMA) is organized exclusively for charitable, educational, and scientific purposes. It is the la>[...]
Direct Straight line flight between two navigational aids, fixes, points, or any combination thereof. When used by pilots in describing off-airway routes, points defining direct ro>[...]
Effort Will Mark First Time Army Has ECM Capability On Unmanned Aircraft Two electronic attack payloads in support of the U.S. Army's Networked Electronic Warfare, Remotely Operate>[...]