Bonfire of the SMEs?
Australia's Quickstep--who is involved in F-35 components--has to hope things get better, because hope is all they have. This PDF to shareholders last week tries to state that everything is going good in spite of the bad news.
Quickstep uses the 5th generation fighter meme and tries to make the reader believe that there is a bright future for F-35 work:
It is unfortunate that the business plan that Quickstep based their F-35 plan on is now officially dead.
Quickstep will have to adapt this part of its business on a 30 jet per year order prospect.
That, compared to the spin, is real fact.
Something investors need these days in the defence sector.
4 comments:
http://4.bp.blogspot.com/-5FHeVxop-zc/TqNos2ZraKI/AAAAAAAABpI/mASKML9A0YQ/s1600/F35productionCutsHistoryJPEG.jpg
I think Eric should hold a competition on which PowerPoint slide from LMT is the most damning. This is my favorite, I like the nice touch: "you are here."
This one about "current" orders isn't bad, I think we need a another year or two,maybe,to see what kind of sick joke the orders REALLY come out.
Gets better, the Australian Govt has guaranteed the bank loans for the company.
http://www.quickstep.com.au/files/files/163_QHL_031111.pdf
The nine major partner nations plan to acquire over 3,100 F-35s through to 2035. But, still these are speculations.
Planning to acquire 3000k plus--or at this stage of the program 1000 plus, given its poor health--is more speculation than plan.
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