I'm fairly well informed on this, and they have not, to my knowledge,
declared bankruptcy, neither Chapter 7 nor Chapter 11. They have
suspended business, however.
> I'm somewhat puzzled by the lack of any discussion in the
> aviation newsgroups.
Perhaps it's because of the lack of facts to discuss at this point, or
perhaps because there's been nothing to ignite a flame war, or perhaps
it's because a loss such as this does not leave folks with much to say.
Ed Wischmeyer
--
NOTE: 5% of messages sent to me don't make it, so use a return receipt to
insure delivery. The phone company system drops packets.
- - - - - - - -
Ed Wischmeyer
Web page: http://members.aa.net/~edwisch
Email: edw...@aa.net
Actually, if you look back to the "Stoddard-Hamilton in Trouble?" thread
that came out last week, you'll see a lot of discussion. The discussion
started within a day or so of the company closing. I'm puzzled that you
didn't see it; you might check with your ISP to ensure you're getting a
full news feed.
One factor is that (as of Monday afternoon, the last time I called) they
haven't declared bankruptcy. Nor have they said they are GOING to
declare bankrupcty. I posted my thoughts on that last week, under the
above-mentioned thread.
Ron Wanttaja
want...@halcyon.com
http://www.halcyon.com/wanttaja/
S/H is probably undergoing a change of ownership, at best...or a major
reorganization at worst.
I find it difficult to believe that they are just closing the doors for good.
They have excellent products and have had for years.
Perhaps there business management practices have not been up to snuff. Alot of
companies in this industry face this delema. The principles know there market
and product inside and out...they just dont know how to run a business.
I'll bet you'll see them reappear on the scene with new management
(ownership)...new money..and a new biz plan to make S/H what it once was. A
great company offering a quality product...and standing behind it every step of
the way!
Just my opinion.
Dave
JimV.
"Ronald James Wanttaja" <want...@halcyon.com> wrote in message
news:8g00bn$dh2$1...@halcyon.com...
> In article <VmKU4.6373$CS3....@typhoon.tampabay.rr.com>,
> Kerry Haskins <khas...@tampabay.rr.com> wrote:
> >Just some thoughts about the recent news about Stoddard-Hamilton. I read
> >recently from a couple of sources that this company is declaring
bankruptcy
> >and that business transactions are suspended. I am not a Glasair builder
> >(soon to be a Velocity builder) and am not buying a kit. However,
> >considering the enormous popularity of their aircraft in the homebuilt
> >community, I'm somewhat puzzled by the lack of any discussion in the
> >aviation newsgroups that I monitor concerning this recent very
significant
> >event.
>
Wayne
"Kerry Haskins" <khas...@tampabay.rr.com> wrote in message
news:VmKU4.6373$CS3....@typhoon.tampabay.rr.com...
> Just some thoughts about the recent news about Stoddard-Hamilton. I read
> recently from a couple of sources that this company is declaring
bankruptcy
> and that business transactions are suspended. I am not a Glasair builder
> (soon to be a Velocity builder) and am not buying a kit. However,
> considering the enormous popularity of their aircraft in the homebuilt
> community, I'm somewhat puzzled by the lack of any discussion in the
> aviation newsgroups that I monitor concerning this recent very significant
In article <si7qulk...@corp.supernews.com>, assa9 <dpi...@yahoo.com>
wrote:
>Ron:
>I read somewhere that they had a mod for a poorly designed part that may
>have caused a crash and they did not get the info to everybody.
>Just wonder if impending litigation might have something with all
this??
>
>JimV.
It's a possibility. Since S-H doesn't appear to actually own much of
anything, it could merely be an "ablative shield" to protect the true
owners. However, I find it hard to believe that S-H hasn't been sued
before in its nearly 20 years of existance. They've had some
high-profile crashes, and their share of issues regarding the safety of
the Glasair design. Why would they close down over this one, especially
before litigation truly gets started?
In article <20000518071254...@ng-cn1.aol.com>,
S-H has been an employee-owned business for about ten years. There has
been a dollop of management controvery over the years (President leaves,
comes back and takes over again a couple of years later) and some
internal dissention regarding marketing strategies. The revelation that
they are licensees of the "S-H" designs, rather than owning the GlaStar
and Glasair, throws a monkey wrench into the predictive process.
On that basis, AADI (the design owner) could easily set up another
shield company, buying whatever it needs from the dissolution of S-H
(and by NOT declaring bankruptcy, S-H can sell those assets to AADI for
an artificially low price). If AADI does this while meeting all of
S-H's delivery obligations, there's no harm done...except to the
employee-owners of Stoddard-Hamilton. Since AADI is a private
corporation, any such manuevering can be hidden from public attention
(assuming S-H doesn't declare bankruptcy). For all us great unwashed
would know, they've just managed to reorganize and put two great
airplanes back on the market.
Then again, I could be reading entirely too much into a little data.
Like Freud said, "Sometimes a cigar is just a cigar." The problems at
S-H could just be a natural outgrowth of the downturn in the kit
aircraft market. Many other companies have experienced problems in the
last several years.
Reorganizational maneuverings possibility deleted
Wow Ron, knowing how careful you are with facts I'm really impressed.
This doesn't sound like a very savory business maneuver, should it
occur.
Corky Scott
A rather frank and honest answer to everyone's questions is right on
their website. Hope they make it
Paul
CheckSix.Net
-----= Posted via Newsfeeds.Com, Uncensored Usenet News =-----
http://www.newsfeeds.com - The #1 Newsgroup Service in the World!
-----== Over 80,000 Newsgroups - 16 Different Servers! =-----
Interesting that you should put it that way. To me SHs latest statement
showed an astonishing lack of perspective. Neither did it answer any of my
questions. And I expect that it will encourage the rumor mill, not counter
it. Best of luck to them anyway.
Wayne
I find that dissertation more disturbing that all the rumors. I find God
in my daily life, but the worst screw-overs I have ever received while
in business were by those who flaunted their spirituality by publically
evoking God and the value of prayer to save them from their own
mistakes. It is easy to relieve yourself of responsibility when you put
yourself "in the hands of the Lord". Watch out!
--
Bruce A. Frank, Editor "Ford 3.8/4.2L Engine and V-6 STOL
BAFRANK(at)worldnet.att.net Homebuilt Aircraft Newsletter"
| Publishing interesting material|
| on all aspects of alternative |
| engines and homebuilt aircraft.|
*------------------------------**----*
\(-o-)/ AIRCRAFT PROJECTS CO.
\___/ Manufacturing parts & pieces
/ \ for homebuilt aircraft,
0 0 TIG welding
While trying to find the time to finish mine.
>
> A rather frank and honest answer to everyone's questions is right on
> their website. Hope they make it
Here are some excerpts from the Stoddard Hamilton page that struck me:
Begin quotes
The remaining board members are, of course, working for free, being
tried to the maximum, and need your prayers for wisdom, focus on
developing a new business plan, stamina and, frankly, a miracle. We are
standing at the shores of the Red Sea and by faith are awaiting the
waters to part. We have nowhere to turn except to ask the Lord to work
a miracle.
My new airplane design, by the Lord's will is awesome!
Many of you know me as a friend and business associate and know that my
sincere desire has been to make Stoddard Hamilton Aircraft a success, a
company with integrity and a witness of the Lord's grace. Some of you
may not hold the same convictions that I do about religious matters,
but I am still asking you for your support in whatever capacity that
means to you.
The Lord gives and the Lord can take away, and our lives and
possessions are not really ours in the grand scheme of things. I trust
him for the outcome in this.
* We have counseled with legal experts, financial wizards, etc. and now
are actively pursuing investors. We have found seven interested parties
so far.
Specifically, pray for:
Thank you in advance for your prayers and support.Ê
End Quotes.
Far out. God has a business degree? Note the starred sentence. I'm
gratified that besides god, they consulted with business experts who
reside on earth. That's good because they'll probably get a more
workable solution from them.
Corky Scott
Note that he wants to avoid bankruptcy if at all possible.
**********************************************
Update #3
May 17, 2000
Dear Valued Customers, Vendors and Friends,
Stoddard-Hamilton Aircraft, Inc. needs your help. I am writing to you today
in sincere earnest to request your prayers and support of Stoddard-Hamilton
Aircraft, Inc., its customers and it's vendors. On May 8th the entire staff
was laid off. Our doors are currently closed for business. We are
reorganizing the company and looking for outside investors/capital to fund a
turn-around of Stoddard-Hamilton Aircraft in some new form. The remaining
board members are, of course, working for free, being tried to the maximum,
and need your prayers for wisdom, focus on developing a new business plan,
stamina and, frankly, a miracle. We are standing at the shores of the Red
Sea and by faith are awaiting the waters to part. We have nowhere to turn
except to ask the Lord to work a miracle. This doesn't imply that we are
idly standing by, for we have worked fervently for the last two weeks on a
solution. I believe we have one and now are working out the financial and
legal details. Several have said we will go bankrupt; I just cannot accept
this. I have decided to pick myself up and fight!!! Our products are
amazing! Our customers are the best! My new airplane design, by the Lord's
will is awesome! They just need a different environment to survive and
prosper.
It is easy to sit back and criticize and wonder what went wrong. At this
point the past doesn't really matter, what matters now is what we do in the
future. The company can be saved and I think we have a solid plan. However,
many small details need to be put in place and we will need the trust and
cooperation of all our customers and vendors. Many of you know me as a
friend and business associate and know that my sincere desire has been to
make Stoddard Hamilton Aircraft a success, a company with integrity and a
witness of the Lord's grace. Some of you may not hold the same convictions
that I do about religious matters, but I am still asking you for your
support in whatever capacity that means to you.
We are being slandered on the Internet and in the media by misguided
vendors, customers, journalists, etc. I understand their frustration for we
have been somewhat quiet, mainly because we have literally been in temporary
emotional shock over the possible loss of this business. We are being
inundated daily with so many issues. It has been very stressful, but I am
not looking for your sympathy for we have disappointed many people. I
sincerely apologize for the inconveniences we have caused so many.
Bankruptcy, however, is the very last option in my plan. It is a lose/lose
for everyone involved, but many do not realize that if they force us into
bankruptcy they will never get their kits and the vendors will only get
pennies on the dollar. I personally could stand to lose much of my family's
worldly possessions. The Lord gives and the Lord can take away, and our
lives and possessions are not really ours in the grand scheme of things. I
trust him for the outcome in this.
We have counseled with legal experts, financial wizards, etc. and now are
actively pursuing investors. We have found seven interested parties so far.
The Stoddard-Hamilton web site is our current means of disseminating
information to our customers and vendors.
Specifically, pray for:
The customers and vendors will have patience and that they can survive
until we find investors and working capital to be legal to operate so that
they don't force us into bankruptcy. The best scenario is for us to
reorganize the company creating a win/win situation for all parties
involved.
We find the right investor or investors to help us fully repay all of our
creditors and create profitable businesses with independent GlaStar and
Glasair product lines.
We can keep our NASA AGATE research program and the new Aurora 6 place
alive, by also finding the right investor in this project immediately.
Our emotional and physical stamina
Focus on the important rather than the urgent things.
Assistance on how to correctly do damage control, that is, the rampant
rumor mill.
Again, I sincerely cherish your prayers and support. I truly believe there
are workable profitable solutions to this temporary situation. There is a
silver lining in every cloud and with every problem an opportunity arises.
By faith, I am confidently looking forward to a successful future for our
customers, vendors and employees. Thank you in advance for your prayers and
support.
Sincerely,
Bob Gavinsky
President
Stoddard-Hamilton Aircraft, Inc.
*********************************************
There have been no specific details about the situation.
BJC
"Paul Bussiere" <webm...@NoSpam.checksix.net> wrote in message
news:392434f3...@news.midmaine.com...
> http://www.stoddard-hamilton.com/index1.htm
>
> A rather frank and honest answer to everyone's questions is right on
> their website. Hope they make it
>
>I find that dissertation more disturbing that all the rumors. I find God
>in my daily life, but the worst screw-overs I have ever received while
>in business were by those who flaunted their spirituality by publically
>evoking God and the value of prayer to save them from their own
>mistakes. It is easy to relieve yourself of responsibility when you put
>yourself "in the hands of the Lord". Watch out!
++++++++++++++++++++++++++++++++++++++++++++
Only when they start asking for DONATIONS.....
PTL style will I begin to raise an eyebrow or two.
Ever hear of a church whose religion is AIRPLANE ENGINES?
Sure......
********* PTL* *********
Bob - Praise The Lycoming - U.
* With grand apologies to Mr. 'G.M.' Corky Scott
Gee-whilickers Bobbie, now that is the best idea I have heard since
Hubbard's "How to Start You Own Religion and Beat Taxes" turned into The
Church of Scientology.
I have Bob and my church of the Lyco needs an overhaul could
you please onate about $10,000 to this wonderful cause?:)
> Then again, I could be reading entirely too much into a little data.
> Like Freud said, "Sometimes a cigar is just a cigar."
Freud has been completely refuted on every point by most respected
scientists and psychiatrists. Unfortunately, we all now know there are many
uses for a cigar.
Lou
Well, hopefully I'm making clear what is fact and what is merely my own
speculation. There's no confirmation as to whether S-H owns the rights
to the designs, but I know the separate company was set up to try avoid
liability. Sid Lloyd provided the info as to S-H's not actually owning
the Glastar, and it makes sense from product liability viewpoint.
However, what works for product liability works for financial liability
as well.
Check out the most recent letters in AvWeb, and especially see the
comments other readers make to the letters themselves. One person says
that ladder manufacturers operate this way all the time...when some
idiot walks an aluminum ladder into a powerline and the heirs sue, the
company merely shuts down and a new company opens down the street. This
is basically what Maule did a few years ago, too.
An unsavory maneuver? Perhaps. But I think most of our concerns are
related to kit buyers either getting a refund or their parts. Another
commenter on AvWeb says the customer money is in escrow, which may
(MAY...remember the BD-12 "escrow") mean builders won't lose their
money. If the customers and vendors don't get ripped off, then whatever
arrangement is in use to dodge idiotic lawsuits is OK by me.
Like others, though, I'm quite put off by the tone of S-H's latest
message on their web page. Elements of it even reminded me of another
recent high-profile kit aircraft business suffering a financial
upheaval (accusing critics of slander, etc.). Still, S-H has a long history
of honesty and straight dealing. There's a lot of stress there right
now; I'll cut 'em a little slack on their public commentary.
>
>> I'm somewhat puzzled by the lack of any discussion in the
>> aviation newsgroups.
>
>Perhaps it's because of the lack of facts to discuss at this point, or
>perhaps because there's been nothing to ignite a flame war, or perhaps
>it's because a loss such as this does not leave folks with much to say.
>
>Ed Wischmeyer
>
>
And perhaps that the best that can be said at this time is nothing. This was a
company which has had very little bad press from anyone in the past and was
well thought of in the building community. It's loss would cast a large shadow
over the whole business so until all the facts are out and the dust settles,
the best thing is to wait for the facts.
Bob Reed
http://robertr237.virtualave.net/ (KIS Project)
KIS Cruiser in progress...2001 Oshkosh Odessy ;-) (I can hope!)
"Ladies and Gentlemen, take my advice, pull down your pants and Slide on the
Ice!"
(M.A.S.H. Sidney Freidman)
> but when a company is holding alot of other peoples money they owe them timely
>responses to their concerns.
Agree 100%. Anyone who witnessed the Tylenol tampering scare should
fully understand this very basic principle -- honest and open
communication is key.
>i havent seen anything yet that states clearly that
>no one will lose out. that in itself is bad business and will bring long
>lasting distrust in the event they do return to business. too bad.
Just a slightly different read. I think their first posted message
said that they were trying to minimize risk of harm to customers and
vendors. To state flatly that no customer will be harmed in a
situation like this is disingenuous -- they likely cannot control
whether customers may be harmed. But a statement such as their's, that
they have high level of commitment to customers and want to minimize
the risk of harm, when accompanied by corresponding actions, is the
best that can be expected.
--
Alex
Transpose first two letters of return address to reply by email.
>
>I find that dissertation more disturbing that all the rumors. I find God
>in my daily life, but the worst screw-overs I have ever received while
>in business were by those who flaunted their spirituality by publically
>evoking God and the value of prayer to save them from their own
>mistakes. It is easy to relieve yourself of responsibility when you put
>yourself "in the hands of the Lord". Watch out!
Kinda reminds me of the Saturday Night Live skits they used to do on
the TV Evangelists. Encouraging old folks to call and give money
since "Jesus needs a ferris wheel".
I dunno, its nice to have faith, but when faced with backruptcy and
such, I'd rather hear they are talking to the lawyers and bankers
versus prayer alone :-)
Paul
CheckSix.Net
Former Altar boy and all!
--
Francois Marquis
Lancair C-GLUE
Ultimate C-GPOC
Remove nospam to reply
----------
In article <8g24nn$80$1...@halcyon.com>, want...@halcyon.com (Ronald James
Wanttaja) wrote:
> [snip] BD-12 "escrow" [snip]
I got news for you: IT DID NOT!
While I wish no harm upon Stoddard-Hamiliton, this
religious bullshit isn't going to cut it for them either. Sorry!
Lou Haas
After Corky's reminder, I went back over some of the material I'd read
and found I had misspoken slightly. Stoddard Hamilton doesn't own the
GlaStar, but they do, apparently, own the Glasair. Here's what was
posted the Glasair news site:
"...The molds were sold to a leasing company (owned by one of the SH
founders), the industrial building was placed in Hamilton's mothers name.
At this point the only assets SH had were the drawings of the Glasair. "
So while it appears S-H does own the Glasair design, it doesn't actually
own any of the tools or facilities used to make it.
Actually there are a lot of differences between team rockets F1 rocket and
Harmons Rocket II. But most of those differences account for it being
purpose build as a f1 rocket and not as a highly modified RV 4 as the Harmon
Rocket is.
Chris Wilcox
F1 rocket #000
Good taste?
------------------------------------------------------------------------
|Rich Ahrens | Homepage: http://www.visi.com/~rma/ |
|r...@visi.com |-----------------------------------------------|
|"In a world full of people only some want to fly - isn't that crazy?" |
------------------------------------------------------------------------
> IIRC, the case arose from Array's contract with SNA, not out of some
> ownership right on the design. Even if it did, making one, for
> yourself, would fall under fair use (in copyright law) and if you
> don't sell it, wouldn't fall under patant law.
Well, Dick Silva actually has claimed some patents on the Seawind
design, which has some people distressed because he bought it rather
than designed it himself (I'm not up on the legalities of who signs as
inventor... I know that it's usually the actual inventor even when his
work is done for hire and his patent is assigned to his employer).
But yeah, ff, I do believe that the issue was (as you state) a
no-compete, no-reverse-engineering clause in the SNA contract. Contract
law is a completely different animal than copyright or patent law... and
those are quite different from each other. (IANAL but I have paid their
kids' tuition bills and listened expensively to their maunderings).
The Seawind is a beautiful plane, but I found Silva and his people
disagreeably shifty when I talked to them a few SnFs ago. My personal
impression, the next bloke may have thought him a wonderful human being.
The Glasair, OTOH, is a beautiful plane with never a whiff of trouble
with the company, before this cash crunch. I am convinced the design
will survive, but I'm not sure how. I would like to see the existing
company pull it off with new financing. They are trying to do that and
avoid bankruptcy, although apparently they're on the brink, technically
insolvent, and the first creditor's shove could put them over.
cheers
-=K=-
Rich Ahrens wrote:
>
> "Charles K. Scott" wrote:
> > Oh I think so Wayne. If He is there, you have definately pissed him
> > off with your post. By the way, why DOES he flatten so many trailer
> > parks?
>
> Good taste?
Less filling.
Dave 'dubbawide' Hyde
na...@brick.net
* Sent from RemarQ http://www.remarq.com The Internet's Discussion Network *
The fastest and easiest way to search and participate in Usenet - Free!
Anyone ever hear of Lawsonomy? I saw a stand at Oshkosh once with a picture of
an early multi engine bomber type with Lawson painted on the side. The people
running the stand were pushing some kind of philosophy of Lawson real hard.
Never did understand it but it seemed wierd.
John Dupre'
--
Allen Rockwell
Glasair Super II-s RG Builder
http://allen.glasairnews.com
GlaStar Builder
http://www.n127br.com
"Kerry Haskins" <khas...@tampabay.rr.com> wrote in message
news:VmKU4.6373$CS3....@typhoon.tampabay.rr.com...
> Just some thoughts about the recent news about Stoddard-Hamilton. I read
> recently from a couple of sources that this company is declaring
bankruptcy
> and that business transactions are suspended. I am not a Glasair builder
> (soon to be a Velocity builder) and am not buying a kit. However,
> considering the enormous popularity of their aircraft in the homebuilt
> community, I'm somewhat puzzled by the lack of any discussion in the
> aviation newsgroups that I monitor concerning this recent very significant
> event. If there is veracity to the reports, I think this is rather
tragic.
> They make some amazing aircraft, and their absence as a choice for
> homebuilders would indeed be a loss. Comments from present Glasair
builders
> and recent prospective customers appreciated.
>
>
>