From: "Skip Slater" <skipslater@earthlink.net>
To: "Lancair builders" <lancair.list@olsusa.com>
Subject: RE: Columbia 300
Date: Sat, 24 Jun 2000 23:28:48 -0700
Message-ID: <NDBBJKBFGKPDOJHEAJMLMEKBCBAA.skipslater@earthlink.net>
Importance: Normal
In-Reply-To: <001b01bfde47$b2bae3e0$097fbc18@barkerasset>
Mime-Version: 1.0

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>>
   Regarding the production company's financial pinch a few months ago, I
got some extremely reliable info from a well placed source at Lancair when I
picked up my kit in March, which I'll pass along for what it's worth.
   Seems at the eleventh hour, when the Maylaysians were to come up with the
promised funds to finance ramping up the Columbia production line, they
attempted to pinch Lance by demanding another seat on the board, which would
have given them effective control of the company.  This, by the way, follows
a practice they've used in at least one similar situation in the past.
Rather than capitulate, Lancair's lawyers immediately took the Maylaysians
to court (I assume for breach of contract or something similar).  At that
point, there was a quick out of court settlement, the suit was dropped and
some money was sent.  The lawyers told Lance that they could quickly refile
the suit if future payments were not sent on time.  Sounds to me like a game
of brinksmanship was played, Lance didn't blink and won.
   That, in a nutshell, is what I heard within a week or so of when all of
this transpired.  I know Lance reads this stuff, so if there's more to the
story, I hope he'll correct me if I've made any incorrect statements.  If
there are concerns as to the viability of either of Lancair's divisions, kit
or production, they've sure got a whole bunch of us hoodwinked.  I know I'm
not losing any sleep over it.
   Skip Slater
   ES in works


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Please send your photos and drawings to marvkaye@olsusa.com.
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