Ohhh, This Can’t Be Good… For EADS

OK, my whole site just changed and some things that should work, don’t seem to be right now. My post may not be its usual wonder self, LOL. I just had to call the help desk (email) because I can’t get my links to work at the moment and so can’t link back to the original article. Hmmm, will have to improvise. All right, so more futzing with it and something here seemed to have worked. Geeze, am I that old that it is taking me this long to figure this stuff out??? Grrrr

I received an email again today, an update email keeping me abreast of what’s happening on that end of things. I hate doing a google search unless I know what it is I want to look for. I love all the things I find though, that’s pretty cool, if I have the time to look through them. Mostly I don’t. So, getting these email updates is nice. It is instantly clear that EADS is in a wee bit of trouble. France seems to be upset with them also. From the NYTimes we get this article:

Complaint Against Airbus Parent


Published: April 2, 2008

PARIS — The French financial market regulator filed a formal complaint on Tuesday against the European Aeronautic Defense and Space Company, the parent company of Airbus, and more than a dozen current and former executives in connection with an inquiry into accusations of insider trading and other market abuses.

Times Topics: European Aeronautic Defence and Space Company (EADS)

Evidence gathered during the 18-month inquiry was also sent immediately to the Paris prosecutor’s office for inclusion in any possible criminal investigation, the regulator, the Autorité des Marchés Financiers, said in a statement. A spokeswoman for the prosecutor’s office, Isabelle Montagne, declined to comment, saying officials had not yet received the report.

The case hinges on whether managers at EADS and Airbus were aware of problems with the production of the Airbus A380 superjumbo jet when they exercised stock options from November 2005 to March 2006, months before the plane’s difficulties became public in June 2006.

Yup, that really doesn’t sound good. They frown on insider-trading here. And if the French are mad, you know some thing’s up. And I had someone here from Northrup Grumman trying to make accusations here. Wonder if they saw this coming? You can read a much more in depth article at the link (I hope) above.

Dear Friends,

Thank you for voicing your opinion on my website about the outrageous decision by the Air Force to award a $35 billion contract to European Aeronautic Defence and Space (EADS)/ Northrop Grumman over Boeing to build the next generation of aerial refueling tankers. I hope you find this weeks “Tanker News” update informative.

On Wednesday, the Government Accountability Office (GAO) rejected effort’s by the Air Force and Northrop Grumman to have portions of Boeing‘s Tanker protest bid thrown out. This means the GAO has agreed to look at all aspects of Boeing‘s protest without pre-maturely dismissing any part of the protest. This is great news and a good step forward.

I will continue to aggressively fight this decision in Congress. I am currently finalizing legislation that will help create a level playing field for American workers and manufacturers.

This week, both the New York Times and the Wall Street Journal reported that French Financial Market Regulator, Autorité des Marchés Financiers, has filed a formal complaint and requested a criminal investigation of the European Aeronautic Defence and Space Company (EADS).

You can read the full story in the New York Times by clicking here.

It is clear that EADS cannot be trusted to build KC-X tankers for America – its history confirms this. The United States Air Force has kept America shielded from questionable, and in some cases illegal, activities that EADS and its parent Company Airbus have committed. Because the Department of Defense and the Air Force waived the Foreign Corrupt Practices Act and Cost Accounting Standards for foreign competitors, the American public may never know the true extent of illegal activities that our new KC-X Tanker manufacturer has committed. This represents a serious challenge to our national security.

Our American tanker needs to be built by a company we can trust. Our American tanker needs to be built by an American company with American workers.

Also, the Center for Security Policy just released a report, “EADS is Welcome to Compete for US Defense Contracts- But First it Must Clean Up Its Act”, that highlights numerous past and present problematic issues that need resolved before EADS should be able to compete for American contracts.

Click here to read this fascinating report by the Center for Security Policy.

Thank you again for taking time to voice your opinion on my website. Please make sure your family and friends also know how to access the site to register their opinion as well. The more people who voice their disapproval of this Tanker contract decision the more momentum we will gain.

People from all over the United States have been voicing their outrage. As of this morning, more than 72,000 of you indicated you were outraged with the Air Force Tanker decision!

Be sure to check out the “Tanker Blog” to stay up to date on all the latest Tanker contract actions. Here I will post videos, media interviews, floor speeches, letters to the President, Secretary of Defense, and my Congressional colleagues that express my outrage over this contract.

In addition, if you would like to call the White House to voice your opinion about the Air Force tanker decision the number is 202-456-1111.

Best regards,

This new format really s—-. I have to scroll way high to do one thing and way down to type! Take me forever this way! Grrr Grrr!


~ by justmytruth on April 4, 2008.

3 Responses to “Ohhh, This Can’t Be Good… For EADS”

  1. You’re right, EADS has some explaining to do on this issue.

    BTW, another great place to find information on the tanker contract is http://www.tankerwarblog.com

  2. Nope, didn’t forget. I think I mentioned that EADS might have taken a page out of Boeing’s Book here in the article. None of these companies are what you would call *stellar*.

  3. Seems like people have forgotten that in 2003 the Boeing CEO resigned, the CFO was fired, and a former USAF official (later hired by Boeing) went to jail over a USAF tanker lease deal. At that time Boeing was provided the EADS bid information. Neither EADS nor Boeing are totally clean.

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