Textron break up imminent?

Pyrrhic victory

This is going to hurt
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http://www.forbes.com/feeds/ap/2009/04/09/ap6276526.html

Looks like the credit crisis and economic downturn has sunk one defense contractor.

A UAE-Kuwaiti consortium are looking to buy up Textron's civil assets at a high price. Defense businesses will probably go to Lock-Mart or Raytheon.
 
What does Textron do?

This is really annoying that more and more of our businesses end up getting bought off by other countries. We really need to employ a little protectionism -- not totally of course, but we shouldn't have industries vital to our defense in the hands of other countries.


KJ Lesnick
 
KJ_Lesnick said:
What does Textron do?

They own both Cessna and Bell Helicopters.

Given the spotty performance record of Bell, especially in regards to the ARH-70 program, I'm not really surprised.

And as for foreign ownership, I'm not all that bothered by the Kuwaitis or UAE.
 
KJ_Lesnick said:
What does Textron do?

This is really annoying that more and more of our businesses end up getting bought off by other countries. We really need to employ a little protectionism -- not totally of course, but we shouldn't have industries vital to our defense in the hands of other countries.


KJ Lesnick

Why not just have a look at their website: http://www.textron.com/

Re protectionism - apart from the ITAR, The Buy American Act, The Berry Amendment what more do you want. The USA already practices protectionist policies quite a bit in the Defence realm. I would also note that these often backfire and end up hurting US companies more than help them. Especially in these difficult economic times, protectionism is a simplistic, dangerous route to take that will only make things worse!

Regards,

Greg
 
I live in the Providence (RI) area and this will hit like a ton of bricks, the state is already in the top 10% as far as unemployment goes...
 
Interesting... wonder what that will do to the Bell/Boeing work on V-22?
 

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