Mon, Nov 05, 2007
Aero-News: Quote of the Day
ANN's Quote of the Day usually derives
from current news, though we reserve the right to pick quotes out
of history that have a bearing on the day's events and
issues.
Sometimes, you'll find them timely and in keeping with the
content of the day's news... and sometimes, they'll just be
thought-provoking.
Reader suggestions and comments are welcome... and if
particularly intriguing, timely, or poignant, may themselves
become future Quotes of the Day.
Let us hear from you, folks!
Aero-News Quote of the Day
"...Precision has seen its liability insurance premiums
rise dramatically, to the point that the premium now exceeds the
total sales dollars for this entire product line. In the past, we
have absorbed that cost, with the hope that the aviation industry
as a whole would be able to help address this issue faced by
Precision Airmotive, as well as many other small aviation
companies. Our efforts have been unsuccessful. This year, despite
the decades of reliable service and despite the design approval by
the Federal Aviation Administration, Precision Air motive has been
unable to obtain product liability insurance for the carburetor
product line. While we firmly believe that the product is safe, as
does the FAA, and well-supported by dedicated people both at
Precision and at our independent product support centers,
unfortunately the litigation costs for defending the carburetor in
court are unsustainable for a small business such as
Precision."
Source: From a statement issued by Precision
Airmotive after its decision to withdraw products from the
market due to their inability to find liability insurance.
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