IAM Challenges Fast Track HBC Sale To Chinese Company | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 05.23.16

Airborne 05.24.16

Airborne 05.25.16

Airborne 05.26.16

Airborne 05.27.16

Airborne Hi-Def On YouTube

Airborne 05.23.16

Airborne 05.24.16

Airborne 05.25.16

Airborne 05.26.16

Airborne 05.27.16

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

Wed, Jul 18, 2012

IAM Challenges Fast Track HBC Sale To Chinese Company

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.

FMI: www.goiam.org

Advertisement

More News

Airborne 05.25.16: Canada SeaPlane Regs, Blimp Downed, Citation Longitude Mated

Also: USAF Hassled, Hummel UltraCruiser, Helo Limits, FAA Video, Greg Connell Accident, Medical Helo Suit, Bombardier's 100th VistaJet Canada is proposing changes to their seaplane>[...]

Icon Steps Back, Admits Curtailed Production Plan

Finally Talking (And Still Hyping), Icon Production Plans Take A Big Hit The following is the text of a release from Icon Aircraft (bluster and all)... ANN Analysis and industry re>[...]

Solar Impulse 2 Is En Route To Lehigh Valley, PA

Atlantic Crossing Next Major Hurdle Solar Impulse 2 (Si2) departed Dayton (OH) International Airport with Bertrand Piccard at the controls, this morning at 0402 local time (UTC-4).>[...]

Icon Controversy Continues, But Icon Has Yet To Speak Up

The Company That Won't Answer Questions, May Finally Have To Do So ANN has been bombarded with info and reports concerning the health and well-being of the Icon Aircraft program...>[...]

ANN's Daily Aero-Linx (05.26.16)

Safety Management System (SMS) This FAA website was created as a public resource for those seeking to learn more about SMS within the aviation industry and the FAA.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC