I'm shocked !

(I feel sorry for the people in NM who though they had a good job with a legit business)

I've seen it coming for a while. Besides other issues, Eclipse was too dependant on DayJet's survival. I had to deal with DayJet's training almost everyday and they're toast. They were a pain. Now the Mfg. has to compete with 28 lightly used Eclipses, sitting on the ramp in Tallahasee, all for sale. They're painted an awful blue and yellow with an ugly interior, but it still has to mess up the market.

Yea,

I feel sorry for them, too, however, there's no such thing as a good job with a liget business in the aviation field.

There's been more failures, more folks loosing jobs, layoffs, pay cuts, benefit cuts, etc than just about any other business.

Just the way it is.

As for Eclipse..... it really wasn't a surprise at all. Heck I received a call on the Day Jet planes over a month ago.

Maybe it is not easy to convey sarcasm in a bulletin board post.

This has been coming for a while now, a train-wreck in slow motion. They where bankrupt 6 months ago but the people pulling the strings in this racket found it more useful to keep the place afloat for a little while longer. If you look at todays news, MAGICALLY a buyer for the companies assets has emerged, and suprise suprise: it is the current owner. I would be suprised if the bankruptcy court goes along with this attempt to separate the assets (STC, patents, tool-sets, order-book) from the mountain of debt incurred to get here.

And no, I don't think the poorly designed concept of DayJet is what brought them down. Burning through a billion$$ in cash and then delivering a product that was...
- late,
- 150% over budget,
- unable to fulfill the specs assured in the purchase agreements
...is what brought them down.

Eclipse -

Eclipsed the competition with claims of a Jet for $1 million dollars that would be as cheap to operate as a Baron. And, attracted investors and position holders who believed the B.S.

People were so taken in by the sensationalism that people lost interest in the Vision-Air Vantage.

My old JetProp partners watched the value of their airplane plummet as potential buyers were holding out for the $1 million dollar VLJ that sipped fuel!

Like a low bidder on a contract who later breaks the news that the price will be double once the client has no choice but to continue the relationship.

Sleazy. 3 cheers for the Bankruptsy liquidation!

Mike

Yes, 1.2 million down and no plane is painful. But then, that individual knew there was some risk as with all new aircraft companies. Sometimes there is an excellent return on investment.....othertimes you lose.

$1.2 Million on an untested plane and company? The guy deserved to lose it. That's crazy.

Not sure I'd go so far as to say "deserved" but he definitely ignored the factor of company longevity and stability in the decision-making process.

Hell, I was spending a fraction of that on an airplane, and Beech's size, history, and stability were a big part of my decision.

I hope your not the same with women?

Is that an Eclipse I see in your avatar?