Not sure where to post this as Luke Norman Butler signed up with Dupont to buy x number of ghost aircraft from John Dupont.
I'm not sure who is the bigger crook now
Feel free to copy and post this anywhere you like as there has been no change of info on Utilicraft's website or
PR releases...
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Navajos Halt risky freight aircraft venture
ALBUQUERQUE, N.M. - Following warnings about the risky business venture, the Navajo Nation halted plans to build a new freight aircraft but will proceed with the manufacture of a new environmentally-friendly construction alternative that could revolutionize the building industry.
The Navajo Nation Council Economic Development Committee decided against investing an initial $1.25 million in Utilicraft Aerospace Industries, Inc. for production of a newly-designed freight aircraft.
In New Mexico, two state agencies cautioned the Navajo Nation about the proposal after the tribe announced it was considering an investment of up to $34 million.
"The New Mexico Finance Authority cited past bankruptcies, questionable customers ( Luke Norman Butler ? ) and the chief executive officer's sizable severance package after reviewing the company's proposal."
The Finance Authority and state Economic Development Department warned the tribe to proceed with extreme caution before putting any money into the project.
During negotiations, Utilicraft said they would relocate from Georgia and build several plants on tribal land and in Albuquerque. Saying the deal could bring hundreds of high-paying jobs to the Navajo Nation, Navajo Nation President Joe Shirley Jr. signed a memorandum of understanding with Utilicraft on Dec. 8, 2004 that would have made the Navajo Nation a 25 percent equity partner in the company. However, the company said the aircraft has not received FAA approval.
After the Navajo Department of Justice researched the company, the tribe determined that the multi-million dollar investment appeared too risky because of the length of time required before the Navajo Nation would see a financial return on the investment.
''It was a good-faith effort on behalf of the Navajo Nation,'' Shirley said in a written statement. ''But there was an understanding with the company that this had to go through the Navajo Nation Council, and the first step in that process is the Economic Development Committee, and they've made their decision.''
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Due diligence pays off!
