Message-Id: <3.0.3.32.20000515045704.0306cd70@olsusa.com>
Date: Mon, 15 May 2000 04:57:04 -0400
To: lancair.list@olsusa.com
From: Marvin Kaye <marvkaye@olsusa.com>
Subject: Glasair's demise and 6-place AC
Mime-Version: 1.0

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These three paragraphs showed up in this morning's AvFlash... just passing
them along for those of you who don't subscribe:

>>>
STODDARD-HAMILTON: FOR WHOM THE BELL TOLLS...
Last week callers to the Stoddard-Hamilton Aircraft Inc. (S-H)
facilities were greeted with a message indicating that the company's
doors were closed for a reorganization.  This week's message posted at
S-H's homepage includes: "A letter will be sent next week outlining the
plan of liquidation" and "all creditors will be treated equally."  These
are not encouraging comments.  Still, at the time of this writing the
exact nature of the situation can only be as clear as the company's
official statements, which include "liquidation" and "termination of the
business," just one paragraph under a statement which implies that S-H
is working toward "reorganization."

...A WASTE OF BREATH, THE YEARS BEHIND...
Stoddard-Hamilton was one of a handful of companies that seemed to be
able to capitalize on a combination of good design and good enough
follow-through to see the completion of roughly 800 amateur-built
aircraft.  However, it is possible that the founding members of the
company adopted the wrong lessons from the liability wars.  It seems
they may have pursued certain business structures that kept cash out of
the company and ensured survival through the cash flow of current
product sales alone -- in an effort to protect primary parties from
liability should any action arise.

...AND THE BAND PLAYS ON
While one pioneering composite aircraft company lives its darkest hour,
its spirit lives on in new companies and newly-certified composite
designs.  Advanced Aerodynamics & Structures Inc. last week announced
that their high-performance, composite, six-place turboprop, the
JETCRUZER 500, has passed pressurization tests and is now certified to
30,000 ft.  Another composite aircraft was hatched at Burt Rutan's
Scaled Composites facility in Mojave, Calif.  The new in-line, twin-
engine aircraft for Adam Aircraft Industries is a six-place, twin-boomed
composite called the M-309.  The M-309's first flight was on March 21.
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