Friday, August 31, 2007

Heard Similar Reports Before

But none as detailed as what FLY ON WALL provided this evening:

It's crunch time in production!

It is end of August and not even close to one a day. Aircraft stacking up with out wings to install, mandatory long work days, local 12 week trainee's pouring in with backgrounds in JR-High teaching, Grocery tellers, auto mechanics,... Management believes you can snap an aircraft together just as you would a automobile. The few that are left with real aviation backgrounds are being ignored while EX-Ford and Intel engineers try to stumble through it all.

The line is a mess, they have moved tooling around to create two production lines, but the Techs are crawling all over one another trying to complete jobs and fix NCR's from up the line.

Aircraft do not simply bolt together. As with all aircraft there is always craftsmanship involved. Parts need trimming and things get laid out by hand. Each of the thousands of fastener holes are precision drilled and reamed and this takes skill. The tooling is some what substandard in many of the cells. This leads to out of contour fuselages and other parts having to be tweeked to fit.

The work force on the floor has become very discouraged with the constant change in work schedules, disorganization, and leadership changes. Many leads have stepped down and the turn over rate of quality mechanics is high. Throwing 12 week wonders on the line will only make matters worse as NCR's litter the aircraft from poor workmanship of unskilled mechanics.

Then added:

Well I am sorry to say that management and some engineers do not want to hear from Aviation experts on how to build the plane. There are people in the company that can help but all they get is how Ford would do it.

And:

I have never seen an aircraft facility so cluttered with parts laying around stacked unprotected on shelves, FOD littering the floor, tables, and inside of aircraft. Tool control is out of control. The beautiful orange snap-on tool boxes are a mess with tools missing and empty drawers. The company has spent thousands on tools and just sat back and watch as they walk out the doors and get left in aircraft.


Ok here is the scoop on NCR's. Techs and inspectors point out problems on the aircraft at times using a sharpie. Then go back and write up the items creating either NCR's or squawks. Many times the marks are left if no one wipes them off , like under the floors. But these items are being fixed and re inspected.

They are not building one a day. Not even every other day. Go take a tour of the place and see. The line is not even completely full.

Fly, thanks for coming forward, it is not a pretty picture.

Tuesday, August 28, 2007

The blog is Now Writing Vern's Future Letters

From a critic, CJ3driver, as a way out of the current no-win situation of having perhaps hundreds of contracts written years ago that fail cover today's cost to build:

Albuquerque, NM

August 28, 2007

Dear loyal Eclipse customer,

We sincerely appreciate your patience and understanding during the difficult and lengthy process you have endured while awaiting your promised jet. I’m very sure your frustration will diminish when you finally slide into the cockpit of your new Jet, which is faster, highly improved and fully completed.

As with any aircraft manufacturer, it is in the best interest of the customers that the company you have put you trust and faith in, remains a viable entity, so that we may serve and support you well into the future.

Therefore, it is with deep regret we must come to you, our faithful and trusted customers and make this offer to you.

Due to rising costs, unforeseen technical and certification issues, along with market production volume demand matrix dynamics, we are now forced to implement an across the board price increase. In order to be fair to all customers, the increase will be effective immediately on all undelivered aircraft, and shall be in the amount of $500,000.

Attached is a financial proforma showing you, our valued customer, that with the price increase, we will be able to produce your jet, and still make a reasonable profit. The benefit to you, our valued customer, is that you can rest assured that your aircraft will come to fruition and the Company behind it will be there to stand with you for many years to come.

Please keep in mind, this increase is on every new jet we produce. Therefore, if you currently have a position locked in at $995,000 your new price will be $1,495,000 if you have an order at $1,520,000 plus CPI, your new price will be $2,020,000 plus CPI. Any new orders shall be at 2,195,000 plus CPI. Therefore all customer equity remains intact and actually may increase.

At $2,195,000 The E500 is still the lowest priced, fastest, most advanced and lowest cost to operate VLJ certified and ready to fly today.

As you are aware, the deposit agreement allows a refund to customers if certain guarantees are not met. Therefore we regret to inform you that Eclipse can no longer guarantee the price as described in the agreement.

Refunds on existing contracts will be granted and interest will be paid at 10% per annum, for the entire time your funds were on deposit with us. However, depending on the number of refunds requested, Eclipse reserves the right to disburse beginning with the lowest serial numbers first and shall be distributed as deliveries are accomplished. Exceptions will be made to those willing to take a cash settlement at a lower amount.

We trust you will stand with us and we have stood by you, and allow us to complete your dream for you.

Sincerely

Your leader

V

And a letter predicted for release at NBAA by one of the loyal Faithful, alexa:

Atlanta, GA

September 25, 2007

Dear Loyal Eclipse Customer,

We sincerely appreciate your patience and understanding during the difficult and lengthy process you have endured while awaiting your promised jet. I’m very sure your frustration will diminish when you finally slide into the cockpit of your new Jet, which is faster, highly improved and fully completed.

I am thrilled to announce the following:

1. Two fractionals have placed orders for 120 Eclipse 500.

2. The new Double Eagle training facility is now fully operational.

3. To date we delivered 75 aircraft to our customers and have finally achieve a production rate of 1 aircraft per day.

4. The Albany service center is now operational.

5. There are five test aircrafts flying with the Avio NG. The first aircraft with Avio NG cut in entered the line yesterday and is scheduled for completion within 30 days. We have been able to deploy Avio NG on an earlier schedule.

And finally much to the haters dislike we are on schedule to begin delivering two aircraft a day in early April.

Sincerely,

Vernster

Sunday, August 26, 2007

Random Thoughts From Niner Zulu

Random thoughts were going through my head as I was reading through the blog tonight. I thought I'd just write them down for fun, in no particular order.

One was that I really don't know exactly WHAT the "disruptive technology" is that Eclipse is supposed to have. What does it have that other planes don't that is really going to make my life as a pilot more enjoyable?

I couldn't find anything in the AvioNG that was particularly great. The weight & balance feature is interesting but I know how my plane performs at maximum gross weight and I know what I carry so it's just fluff and one more thing to break as far as I'm concerned. I can ballpark my W&B faster than inputting the data to any computer. It's not 100% accurate, but 90% so who cares? My plane doesn't.

The PFD on the AvioNG doesn't appear to do any more than the Avidyne Entegra in my Mirage. And climate control? More fluff - just give me hot or or cold and let me control fan speed.

Given the choice, I would prefer that Eclipse install a Garmin 1000 panel in my plane. Having a reliable product backed by a solid company would give me more comfort than anything Eclipse is going to invent. And talk about reinventing the wheel - Eclipse thinks that not only can they build a better jet than anyone else, they can also build better avionics than anyone else. Autopilot, transponders, radar, stormscope, GPS, traffic - all brought to you by the same company that screwed up so bad they had to add tip tanks, and it took them a few tries to get the tip tanks right. Yikes!!

I'd give up the nifty little breakable keyboard on the Eclipse for a nice traditional yoke. I like to fly by hand, and I like to use my right hand. Maybe my right knee. (Try doing that in an Eclipse! ) I like traditional flap handles with indicators, and 3 nice bright green lights showing me that my gear are down. Where is the progress, when some of the items so critical to safety and can be operated by feel are taken away and replaced by pictures on a computer screen?

Someone made some great points about lack of FIKI certification earlier. The only thing I can add is that not having it is absurd! What - it will be available next year? I'd be calling my lawyer if I were one of the faithful. For me and where I fly the Eclipse would be useless without it.

Last thing is I wonder how much Eclipse is spending on advertising. They are advertising everywhere, and for what? Jets that won't be available for 3-4 years at best? One more reason that the faithful should be pissed off, IMHO. That money could be spent finishing the aircraft for current customers.

Thanks 9Z, happy to see the blog talking about the airplane again.

Wednesday, August 22, 2007



REPORT FROM THE FRONT – August 22, 2007

Intense fighting broke out in the Blogosphere last night as Eclipse Aviation Critic erupted in violence. The virtual battleground has been relatively quiet for weeks but that changed early in the evening.


The opponents, known as the Faithful and the Naysayers, have been circling each other for weeks looking for an advantage.


The Faithful had been re-supplied lately with small arms ammunition and retreated to well-guarded defensive positions in the hills.


The Naysayers have received little battlefield intelligence lately and were waiting to mount a fresh assault based on facts.


Both sides are worried that another generation could come and go and, as in Ireland and the Middle East, no one could remember why they were fighting.

The calm was broken mid-evening as the Faithful brought out a new weapon. It had been little used in the past as it raised questions about battleground ethics… conventional light weapons versus tactical nuclear devices.


Called Google, the virtual weapon brings in factors unrelated to the regional and ethnic conflict that has raged between the Faithful and the Naysayers. Some believe the Faithful’s leader felt cornered and called in a Google strike.

This war correspondent cautions the reader, “One man’s terrorist is another man’s freedom fighter.” The virtual battlefield is relatively quiet this morning as both sides move to re-supply.


In case a Google strike is called in on this correspondent, I will concede that I don’t always return the toilet seat to the lowered position around the house. However I believe this to be outside the scope of the dispute.

Black Tulip


The tulip mania peaked in the Netherlands during the 1630s. The black tulip was the most sought after, until found to be biologically impossible.

Friday, August 17, 2007

Taxi Anyone?

Karen Di Piazza reported "Today, North American Jet Charter Group, LLC, became the world's first on-demand air charter operator to fly two paying charter passengers on the Eclipse 500 very light jet.


On Aug. 14, North American Jet Charter became the world's first FAR Part 135 operator to receive Federal Aviation Administration approval to begin commercial service using the Eclipse VLJ."

The complete article can be read at
CharterX.

DayJet can't be far behind...and Vern has repeatedly linked the success of his program to the success of the Eclipse in the air taxi market.

Tuesday, August 14, 2007




Bill E. Goat Recently Dreamed...

He was CEO of Eclipse and in charge of parties and announcements. His accomplishments:

We have a Provisional TC. It's granted, via Executive Order, by the FAA administrator, under duress of losing her job.

We have Full TC. It's granted over the officially filed grienvances of FAA test pilots and engineers.

The first DayJet airplanes have C of A's though we had to have the FAA pull out some of the regular inspectors, while they brought in "ringers".

Let's Celebrate.

Today we go public. The investors have sunk in $1.5B dollars, and are breathing down our neck.

We lose money on every airplane we sell.

Our customers have been waiting years for their airplanes, and will continue to wait for years.

The employee stock options are worthless.

The few airplanes we have delivered will have to be recalled.

Let's celebrate some more!

Friday, August 10, 2007

Their Turn to Make Funny

Dateline 2077.

A recent archeological dig discovered a plethora of extinct dinosaurs. Seventy years ago life came to an abrupt end in the Wichita plains. It is believe that a new generation of VLJs filled the air and stopped sunlight from reaching the surface in the Wichita Valley. Unfortunately, the dinosaurs were unable to adapt and perished. Scientist on the scene discovered a number of new species not previously documented.

Stanosaurus- a old lumbering dinosaur that was unable develop the tools necessary for modern survival. Scientist discovered that with the feeble mind of this dinosaur was unable to produce precision tools necessary to survive. Holes in the ground prove that the dinosaur was unable to build with precision.

Gunnerraptor- Closely associated with the ancient VELOCIRAPTOR. Mean and snarly. The Gunnerraptor was believed to jump from pack to pack and then attack veraciously when he had a sudden change of mind. Recent evidence suggest that the gunnerraptor suffered from Schizophrenia.

CJ3driverodon- Similar to Pterodactylus. This dinosaur was be felled by the inability to efficiently move from place to place. While fast for its size the sheer resources needed to maintain the CJ3driverodon drove it to extinction.

Moussarus- Nasty, quick to pounce and highly opinionated. The Moussarus left the herd five years before extinction but believed he had inside information anyway.

Billygoatomimus-known for long moaning rants with no connection to the concerns of the herd. This dinosaur is believed to have lived through two ice ages.

Airtaxisaurus- Initially thought to be mobile and flexible but failed to adapt and stuck to its old ways. Scientist surmised this was one of the first dinosaurs to become extinct.

Nice work alexa...

Wednesday, August 08, 2007

Vern's Oshkosh Report

Possibly more than any other trade show, Eclipse looks forward to AirVenture and the annual gathering with customers, friends and fellow aviation enthusiasts in Oshkosh. It is an event that symbolizes innovation and aviation dreams. We know this well as Oshkosh is where Eclipse Aviation was launched in 2000. It is also becoming a vacation destination for families, and Eclipse is playing a role in helping EAA add this new dimension to its aviation mecca heritage.

Last week found our team returning and recovering from all of the excitement of EAA's AirVenture 2007 in Oshkosh, Wisconsin. Now that we have had a chance to reflect on our time in Oshkosh, I would like to share some of the major highlights and successes of this year's AirVenture for Eclipse.

As I am sure most of you know by now, one of the major developments we revealed at the show was the Eclipse Concept Jet (ECJ) - our concept of what a single engine jet should be. While interest in the ECJ was stronger than we ever imagined it would be, I want to reiterate that the ECJ is just that; a concept.

It is not a new Eclipse product, and while customers and non-customers alike begged us to do so, we are not taking deposits. Our number one priority has been and continues to be finishing the Eclipse 500, delivering your airplane on schedule, and giving you an extraordinary after delivery ownership experience. We will not make a decision on whether to move forward with the ECJ until the end of this year at the earliest. I would like to reiterate one more time that there were absolutely no resources diverted from the Eclipse 500 efforts. Although many critics continue to make such claims, it is simply not true. To learn more about the ECJ, please go to
http://www.eclipseconceptjet.com/.

For me, one of the week's high points was seeing many of you stop by our display and visit with our team in our VIP area. More than 200 customers and guests attended our annual customer breakfast on Friday, July 27th, but for those who were not able to join us, I would like to fill you in on what we covered. It was my privilege to start the morning by taking FAA Administrator Marion Blakey and Assistant Administrator for Aviation Policy, Planning, and Environment Dan Elwell on an Eclipse 500 demo flight.

Dan flew the 500 and Marion and I sat in the cabin. We were able to do a low pass over runway 36 allowing her to view the Oshkosh grounds from the air - low and slow. As we finished up our flight, Peg kicked off the customer presentation, and I joined her for the second half.

Peg provided an in-depth program update that covered topics including: Deliveries and Planned Production, Training and Simulators, Pitot / AOA System, Cockpit Windshield and Side Windows, Avio NG Schedule and Functionality, Future Certifications and the Service Center and Maintenance schedule.

Peg also updated everyone on the Performance Improvement Plan which she was pleased to announce had been FAA certified the night before. Below are some of the highlights:

* Our training organization is hiring more instructors and we will have our first Flight Training Device (FTD) online in late August, allowing Eclipse to recover our pilot training schedule by October. The first full-motion simulator will be operational in October.

* The performance improvement modifications have been certified by the FAA, are already in production starting with AC39 and will be retrofitted to the first 38 aircraft. Our Product Support team is in the final stages of planning these upgrades and customer aircraft modifications will begin by mid-September. The majority of these mods will be accomplished in our Eclipse Service Center in Gainesville, Florida.

* The newly-designed windshield and cockpit side windows will be certified by the end of this month, and be upgraded on the first 73 aircraft when the cycle lives are reached.

*Avio NG is expected to be certified by the end of October and in production in November. A matrix of functionality cut-in is provided in the PowerPoint presentation linked below.

* Future certifications, including Flight Into Known Icing (FIKI) and EASA certifications are expected early in 2008.

After Peg's program update, I arrived to spotlight some other big news we announced in Oshkosh. We revealed Eclipse's new color weather radar, which will be manufactured by Japan Radio Company, Ltd. (JRC). This system has the same functionality as the current Honeywell RDR2000 radar, and will be standard equipment later this year. The Honeywell radar will be offered as an additional cost option in the future. The new radar integrates seamlessly with Avio NG and will cut into production with Avio NG.

I also described in depth how Avio NG's scalable and extensible architecture makes it FAA NextGen-ready, making the Eclipse 500 essentially "future-proof."

Furthermore, its easy software update design is a core tenet of Avio NG, extending the value and affordability of the Eclipse 500. This is evidenced by how easy it is to upgrade Avio NG with a common USB drive. In fact, we flew our first Avio NG-equipped flight test aircraft, N506EA, to the show for customers to see on Friday morning and also had an interactive Avio NG demonstrator on display throughout the show. One of the reasons that the ECJ was able to go from design start to first flight in 200 days is that the Avio architecture allowed a seamless drop in - we powered it up and it worked in just four hours.

Another major announcement was the start of our auction sales program, or Bidder's Club. The eBay-powered auction of aircraft serial # 000038 has begun and people are indeed bidding on the plane. The auction gives people who don't want to wait until 2009 a chance to buy and own an Eclipse 500 now. More than 200 people have registered on eBay to bid on the aircraft. The Bidder's Club members, who joined between the year 2000 and 2002 have an advantage because they have been accumulating Eclipse dollars each month since they entered. The auction ends at 8:00 p.m. EDT on August 10th, and the aircraft will immediately be available to the winning bidder for delivery in Albuquerque.

If you missed AirVenture 2007 this year and would like to see the presentation from this year's annual customer breakfast, we have posted an Adobe; pdf on the Eclipse customer only website. To view, click here.

I also want to mention an organizational announcement that we made last week. We have appointed John Ricciardelli (pronounced - Rich-a-deli) as our new vice president of customer experience and support services. John replaces Ken McNamara, who decided to leave Eclipse. He brings to our company 23 years of customer support and program management experience from Honeywell and Bell Helicopter-Textron, and will be responsible for enhancing the existing Eclipse 500 ownership experience. This includes aircraft delivery, pilot and maintenance training, Eclipse Service Center operations, and the delivery of JetComplete. John has an impressive track record with demonstrable results and I am confident he will improve our customer support organization while helping us achieve our long-term goal of setting a new standard for the aircraft ownership experience. I know John looks forward to getting to know all of you in the weeks and months ahead.

Sincerely,

Vern Raburn

President and CEO

Sunday, August 05, 2007

Can You Connect the Dots?

One of the mysteries surrounding the Eclipse program is why approvals have been put on the fast track by the FAA, at the highest level.

The GIT-R-DONE post, April 24, 2007 discussed three examples:

1. The Provisional Type Certificate Marion Blakey presented Vern at Oshkosh 2006, the one where she proclaimed, "What I have in my hand is probably the most significant piece of paper in America today, a piece of paper that will truly change the face of aviation."

It was presented by Executive Order! The airplane was still being tested when she was on the podium at Oshkosh.

2. Washington put pressure on the field offices to use whatever manpower necessary, work as much overtime as possible, delay requests to support other companies needing FAA support, do what it takes but finish the process in ABQ.

3. The C of A's for the three DayJet airplanes? Here is what was reported to me verbatim, except I have blanked a specific name and title:".... the FAA ASI's Inspecting the planes were finding a large number of problems- mostly workmanship issues, when they were looking inside. After several delays, Washington sent in the (title blanked) of Aircraft Certification Service, (name blanked), to take over, and (name) kicked the FAA San Antonio MIDO ASI's out, and signed an agreement with Eclipse that the FAA ASI's would no longer look inside panels or floorboards.

A day later, the Fighting Back post provided a fourth example with a link to the Grievance that stated in part:

"The faa management did this (issued Eclipse a Type Certificate) without allowing the aircraft certification engineers and flight test pilots to properly complete their assigned certification/safety responsibilities."

I guess with all the other crap that is going on in Washington such as the no-bid contracts in Iraq, Cheney and Haliburton, the members of Congress on the take, and whatever else is going on, the Eclipse FAA Fast Track is just too esoteric for any Washington reporter to be concerned enough to investigate.

However, one of our fellow bloggers has refused to let these events die and has provided some interesting leads:

Let's start with Marion Blakey, the FAA Administrator. We are going to overlook the fact she has absolutely no background in aviation, probably appointed by the same guy who appointed Brownie the head of FEMA. I digress, sorry, Marion's specialty is in transportation and traffic safety issues. From 1993 to 2001, she was the principal of Blakey & Associates, a Washington, D.C. public affairs consulting firm.

Today, Blakey & Associates is now Blakey & Agnew whose Principal is a Leslie Blakey, relationship to Marion is unknown. The firm still specializes in transportation and traffic safety issues.

Leslie Blakey, is executive director of the National Campaign to Stop Red Light Running. Their web site www.stopredlightrunning.com.

So far, just a few facts, nothing incriminating, but now let's go to an unrelated source, Santa Fe Sheriff Greg Solano and his December 11, 2006 blog entry which reads in part:

Red Light Running Prevention Web Site tied to Camera Industry

The Free New Mexican has posted a link on its Red Light Camera Story to a web site called www.stopredlightrunning.com. The web site purports to be part of The National Campaign to Stop Red Light Running . Some cursory checking shows the site and the National Campaign is sponsored by the Red Light Camera Industry. Among the sponsors is Redflex Traffic Systems.

This company has contracts in 106 cities world-wide and, with 90 USA cities under contract, is the largest provider of digital red light and speed enforcement services in North America. It is also the same company who supplies the cameras to Albuquerque and is proposing to supply them to Santa Fe.

The Executive Director of the National Campaign to Stop Red Light Running is Leslie Blakey. She is a hired gun from the firm Blakey & Agnew, LLC. This is a public affairs and communications consulting firm based in Washington, DC. The web site www.stopredlightrunning.com is an advertisement for the Red Light Camera industry. All the news listed in its news section pertains to Red Light Camera's. The only solution listed to preventing red light running accidents is the camera's. Nothing about proper light timing, enforcement by officers, or education of the driving public. Why do I bring all this up? This highlights one of the big concerns I have about this industry.

The movement for these camera's is being developed by private company's with an intense profit motive. The company's charge up to 40% of the fine to provide equipment, technical support and administer the program. Cities cannot install the cameras without contracting with these companies to provide the complete package with a percentage of ticket fines going to the company. Because of the high cost of administering the program the fines are set extremely high usually with entities using the excuse that the fines need to be high in order to be an effective deterrent.

These companies gloss over safety concerns brought about involving rear end collisions when drivers stop suddenly to avoid a red light camera ticket. That message would reduce sales. Since most states require citations to be issued by an officer who witnesses the violation (New Mexico included), these companies promote a civil violation program which skirts the state law.

On December 6, 2006, Sheriff Solano wrote:

The movement for these camera's is being developed by private company's with an intense profit motive. These company's have even been ensnared in bribery investigations in order to get cities to enact ordinances which allow the camera's. The company's charge up to 40% of the fine to provide equipment, technical support and administer the program. Because of the high cost of administering the program the fines are set extremely high usually with entities using the excuse that the fines need to be high in order to be an effective deterrent.

Then on December 13, 2006, Sheriff Solano wrote:

Yesterday Christmas came early for Santa Fe County. Santa wore a Bolo Tie as Governor Bill Richardson's staff called me a couple of days ago and asked me if I would like $300,000 to hire 4 more deputies and assign them to work strictly on the D.W.I. problem in Santa Fe County. I was really excited as I said "absolutely"!

Merry Christmas.

Saturday, August 04, 2007


NEW POLITICAL PARTY MAY BE IN THE WORKS

WASHINGTON POST EXCLUSIVE

Washington, DC, August 4, 2007 – An unidentified political operative told the Washington Post that a new political party may field a candidate in the 2008 Presidential Election. “Voters are tired of the Republicans and Democrats,” he said. “They crave a fresh face and a new approach. I’ve been researching an obscure aircraft internet site for months now, and I find the kind of unbridled optimism this country hasn’t seen for decades.

“The political group call themselves The Faithful and they have been testing their new ideas against a panel of all political stripes for over a year now,” the operative continued. “The internet panel’s inability to rebut The Faithful’s arguments has strengthened their political resolve.”

“Their platform is fresh and optimistic; they see the world as it should be, not at it is. The group brings a new set of economics that will put Keynes and Friedman in the dustbin of history. They have found the secret of relieving suppliers of the shackles of shareholder return, fiduciary responsibility, product performance, aftermarket support and critical media review.”

“The Faithful bring a populist message that gives them a real shot in 2008,” he continued. “They want a chicken in every pot and a plane in every garage. If current U.S. industry can’t do this, then these dinosaurs will be left behind, as new companies and new rules are rolled out. This is populism at its best… these aren’t coupon-clipping trust-funders, these are blue collar guys with dirty fingernails.”

“We are about to enter the enlightened age of economics,” he concluded. “The Faithful realize that capitalists have been cheating the common man with high prices and artificial scarcity. The establishment had better watch out because The Faithful are about to storm the castle with pitchforks and torches.”

Black Tulip

The tulip mania peaked in the Netherlands during the 1630s. The black tulip was the most sought after, until found to be biologically impossible.

Thursday, August 02, 2007


EclipseOwner387 said...

Based upon Eclipse's own schedule, we will not know until at least Q1 2008 if Eclipse is delivering a completed airplane. Until then, the position holders and owners will have to endure criticism of the program. Fortunately, the critics are having a smaller list of "issues" as Eclipse tidies up its IOU's.

The next big milestone is ramp up of production. It will take a few months to grade Eclipse on this and until then it will be fruitless to argue the critics claims on this. As the faithful, we need to also hold Eclipse accountable to meet the new forecasts OR keep us posted when they have snafus/delays.

What I am looking at:

FIKI - we should expect an answer Dec 07.

AVIO NG (partial) - we need to see it cut in by SN134 or sooner.

AVIO NG (Moving Map) - we need to see available Q1 2008.

These are the most important airplane IOU's that I need to see for a "complete" airplane. Unfortunately, we have to wait until Q1 to know. In the meantime, Eclipse NEEDS the position holders to have faith and make progress payments and take delivery of "almost complete" airplanes. Faith and trust will only be maintained if Eclipse makes milestones and/or significant provable progress. Thus far I am still convinced Eclipse will deliver. In return, Eclipse is offering the faithful a chance at a solid value for the mission profile of the EA500.

All other issues are still debatable BUT I think we have to all agree that Eclipse still owes a truly completed product and until then the critics have a solid argument here. Eclipse knows this so we don't need to defend them on this point.

Thank you EO for these candid remarks...EO currently owns serial 028 (N963JG pictured above) which is on lease back to Eclipse. A regular contributor to the blog, he keeps us informed as to his Eclipse trading activity, having bought and sold (at a profit we presume) delivery positions 387 and 024.