Seasprite
Can I just get this story straight? just read thru the post but still half asleep......
The Australian government (read taxpayers) has spent 1.3 billion dollars on new helicopters based on 40 year old airframes, they don't work, are 7 years late and would need more money to be operational by 2011. So that would make them 10 years overdue. Due to the nature of the deal done with Kaman, DoD doesn't even have the option of disposing of them as they see fit, after 1.3 billion?! Is this the same project contract where the suppliers for years have a team of specialists in Australia on full pay idle because the aircraft are not operational?
So in effect, someone has found a way to turn 1.3 billion into nothing and still have liabilities! (they should have bought gold at 1990's prices). Where has the money gone? i.e. has Kaman made profit (therefore adding shareholder value) on a huge contract supplying nothing of use?!
In the meantime the Kiwi's ordered helicopters with new airframes and have been in service since 2002?!
Please tell me I've got it wrong, it's just a bad dream..........
Octane