Model Airplanes

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Article source: http://www.nytimes.com/interactive/2015/12/17/travel/aviation-museum-seattle-washington.html

LONDON—Alcoa Inc. on Thursday said it signed two contracts valued at more than $2.5 billion to supply airplane maker Boeing Co. with parts for next-generation airliners.

One contract is for New York-based Alcoa to provide aerospace fasteners to Boeing, the world’s biggest plane maker, in the largest deal ever of its type, Chief Executive Klaus Kleinfeld said. The fasteners, used to hold together plane parts, would be made from a…

Article source: http://www.wsj.com/articles/alcoa-signs-contracts-to-supply-boeing-valued-at-more-than-2-5-billion-1450364495

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WASHINGTON, Dec. 17, 2015 /PRNewswire-USNewswire/ — Following is the daily “Profile America” feature from the U.S. Census Bureau:

FIRST FLIGHT

Profile America — Thursday, December 17th. A dream of the ages became reality 112 years ago today on a windswept beach at North Carolina’s Outer Banks. There, the Wright brothers made the world’s first powered, heavier-than-air flight. With Orville and Wilbur alternating as pilot, the plane made four flights that day. The first airplane flight lasted 12 seconds and covered 120 feet. The longest distance covered that day was 852 feet in 59 seconds — an average speed of 31 miles an hour. In only a few years, the airplane became an important part of America’s economy and defense, as well as a form of transportation relied upon by an increasing number of people. Now, aircraft manufacturers in the U.S. do just over $115 billion of business annually. Profile America is in its19th

Article source: http://news.sys-con.com/node/3603165

by Brian Hiatt | December 16th, 2015 2:40:PM EST

It is a bleak time for the Republic. It is a period of great struggle for the entire planet, and not only is the dark side winning, it’s no longer clear any other side even exists. Seriously, you guys – Earth is messed up. Just ask a polar bear, or an almond farmer, or a GOP debate moderator. Or maybe check in with Luke Skywalker.

“The world is so horrible,” says Mark Hamill, Luke’s closest earthly representative, sitting in the shadow of swaying trees in his rather pleasant Malibu yard. At 64, Hamill is older than Alec Guinness was in the first Star Wars, and is in the process of regrowing a distinctly Obi-Wan-ish beard. “Between the Middle East and gun violence and global warming and racism, it’s just horrible. And people need this. It’s therapeutic.”

The “this” in question is Star Wars: The Force Awakens, directed by geek hero J.J. Abrams, fresh from rebooting the Star Trek franchise. It is the seventh Star Wars movie, and the first not under the control of the saga’s gnomic creator, George Lucas, who let it all go in 2012, selling Lucasfilm and its franchise to Disney for $4 billion. The Force Awakens will return to the Star Wars galaxy three decades after the events of 1983’s Return of the Jedi, launching what Disney intends to be an endless series of movies.

Jedi ended with what appeared to be a total defeat for the evil Empire, capped

Article source: http://rollingstoneaus.com/movies/post/star-wars-re-awakens-behind-the-scenes-of-2015s-biggest-movie/2876

After more than a decade mired in politics and bureaucracy, a program to buy new military, fixed-wing, search-and-rescue planes is expected to take flight early in the new year with the submission of bids.

The long-delayed, controversial $3.1 billion program will be the first significant military procurement decision made by the new Liberal government and could turn into a political headache.

Lockheed Martin, Alenia and Airbus are being asked to submit two proposals for consideration by Jan. 11 in a hybrid procurement that’s intended to deliver not only aircraft, but recommendations on how many planes are needed and where to station them.

“They said we need an aircraft that can do this and we want you to optimize things,” said Steve Lucas, a retired lieutenant-general who commanded the air force and is now an adviser with Alenia Aermacchi North America

The bids were originally supposed to be submitted by the end of September but the program was kicked forward into January during the federal election.

The companies are being asked to submit prices and aircraft numbers for a fleet that would operate out of four existing main bases across the country — Greenwood, N.S., Trenton, Ont., Winnipeg, and Comox, B.C. — and a separate proposal using only three airfields.

Dropping even one of those bases from the roster carries with it political risk.

Lucas said the intention of having dual proposals was to make it fair

Article source: http://www.theglobeandmail.com/news/politics/liberals-to-take-bids-for-long-delayed-military-search-planes-in-2016/article27764474/

Summary

Textron’s GAAP net income doesn’t tell the whole story about the company’s profitability.

Despite showing EPS growth, the Beech acquisition destroys shareholder value.

Stock price remains significantly overvalued.

From non-GAAP accounting to costly acquisitions, it is not difficult for a company to create the illusion of profits. However, eventually reality sets in and the deterioration of a business comes to light. This week’s Danger Zone pick, Textron Inc. (NYSE:TXT), is destroying shareholder value while covering it up with an acquisition that creates the illusion of profits via GAAP net income growth. The momentum behind this stock will reverse when investors realize this acquisition is not delivering and the business has been in a long-term decline.

GAAP Income Doesn’t Tell The True Story

From 2013 to the trailing-twelve-months, Textron’s GAAP net income has grown from $498 million to $666 million. Over the same time frame, the company’s economic earnings, or true earnings available to equity shareholders, have declined from -$422 million to -$677 million. This discrepancy can be seen in Figure 1.

Figure 1: GAAP Net Income Illusion

(click to enlarge)

Sources: New Constructs, LLC and company filings

Unfortunately for investors, Textron has failed to earn positive economic earnings in any year in our model, which dates back to 1998. Through the use of accounting loopholes and the shortcomings of GAAP, Textron has been

Article source: http://seekingalpha.com/article/3756426-textrons-acquisition-growth-isnt-as-profitable-as-it-may-seem