Fri, Jul 15, 2011
Memorandum Of Understanding Signed By City, Chinese
The city of Duluth and the new principal shareholders in Cirrus,
Chinese aviation conglomerate CAIGA have signed a Memorandum of
Understanding (MoU) stating that Cirrus will stay, and grow, in the
upper Midwestern city.
In the document, the city said it would support Cirrus, and
CAIGA promised it would stay put. Cirrus is one of Duluth's
principal employers, despite jobs lost in the economic
The Duluth News Tribune reports that the one-page
document was signed in a ceremony at Cirrus on Tuesday.
“Verbal assurances are wonderful. But a written assurance,
signed by the president of CAIGA, certainly carries much more
weight,” said Duluth Mayor Don Ness.
Senators Amy Klobuchar and Al Franken reportedly sent a letter
to CAIGA president Xiangkai Meng urging him to sign the MoU. Ness
said communications from United States Senators helped get Meng's
Cirrus spokesman Bill King said that the MoU 'wasn't really'
necessary, and that Cirrus has a "long history of doing what we
say." (King appears to be ignoring Brent Wouters, the
current CEO's, well-established habit of doing just the
opposite... as we have documented several of his 'whoppers' here on
Continuing to 'spin' aggressively, King said the company's best
days are ahead, and that the "investment" by CAIGA will help the
company tap into emerging markets worldwide. One can only hope that
Duluth has far more luck with CAIGA/Xiangkai Meng's honesty than it
has with Wouters...
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