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Eclipse News Watch

POSTED: 7:38 pm MDT August 22, 2008
UPDATED: 8:38 pm MDT August 22, 2008

What other sources are saying about Eclipse:

On Wednesday, Albany International Corporation, one of Eclipse's suppliers, announced that Eclipse was cutting production. Eclipse responded with an announcement of a conference scheduled for next week to discuss production plans. Bizjournals.com covered Albany's announcement in detail with this article from Wednesday.

The FAA announced on Wednesday it would be conducting a 30-day review of the Eclipse jets. Pressdemocrat.com carried a detailed article.

The industry trade web site Aviation Week also covered Friday's developments in this article, adding:

"Eclipse announced a $450,000 price increase in late May 2008, but the firm gave customers a 90-day window during which they could cancel their contracts and request refunds. Friday's announcement of 650 people being laid off and next week's expected key employee and vendor summit meetings may cause some customers to consider cancelling their orders. The potential cash-flow drain associated with refunding some customer deposits could further strain company finances."

The times union.com of Albany ,N.Y. has a brief mention on its business blog regarding the job cuts, saying some positions in Albany will be affected, but the number is unknown.

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