Mailing List lml@lancaironline.net Message #14545
From: Paul Davis <pdavis@bmc.com>
Sender: Marvin Kaye <marv@lancaironline.net>
Subject: More Layoffs At Lancair
Date: Thu, 01 Aug 2002 08:58:01 -0400
To: <lml>
Knowing that someone is going to ask about this on the list, I
thought I'd pass along this paragraph from AVweb:
  http://avweb.com/n/?31b

Lancair is blaming troubles on Wall Street for its decision to lay
off more than 85 percent of its staff at the Bend, Ore., production
plant. CEO Bing Lantis told the Bend Bulletin another 207 layoff
notices went home with workers last week, after a $25 million
financing deal fell through. The company is down from 320 employees
two months ago to 43 today. The company has a backlog of 172 orders
and was cranking out one airplane a week before the layoffs. Even
with a three-year wait for their planes, customers were laying out a
$28,000 deposit on the fast, sleek singles. Lantis said the deposit
is refundable. The factory remains open but with only 43 workers, the
wait for Lancairs is bound to get longer. Lantis told the Bulletin he
is confident Lancair will find new money sources and bring the workers
back.

-------------------
Paul Davis
Lancair Legacy builder
pdavis@bmc.com
Phone 713-918-1550
-------------------
Vivamus et amemus!
Let us live and let us love!


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