Textron break up imminent?

[Pyrrhic victory]

http://www.forbes.com/feeds/ap/2009/04/09/ap6276526.html

Looks like the credit crisis and economic downturn has sunk one defense contractor.

A UAE-Kuwaiti consortium are looking to buy up Textron's civil assets at a high price. Defense businesses will probably go to Lock-Mart or Raytheon.

 

[KJ_Lesnick]

What does Textron do?

This is really annoying that more and more of our businesses end up getting bought off by other countries. We really need to employ a little protectionism -- not totally of course, but we shouldn't have industries vital to our defense in the hands of other countries.


KJ Lesnick

 

[Just call me Ray]

What does Textron do?

They own both Cessna and Bell Helicopters.

Given the spotty performance record of Bell, especially in regards to the ARH-70 program, I'm not really surprised.

And as for foreign ownership, I'm not all that bothered by the Kuwaitis or UAE.

 

[GTX]

What does Textron do?

This is really annoying that more and more of our businesses end up getting bought off by other countries. We really need to employ a little protectionism -- not totally of course, but we shouldn't have industries vital to our defense in the hands of other countries.


KJ Lesnick

Why not just have a look at their website: http://www.textron.com/

Re protectionism - apart from the ITAR, The Buy American Act, The Berry Amendment what more do you want. The USA already practices protectionist policies quite a bit in the Defence realm. I would also note that these often backfire and end up hurting US companies more than help them. Especially in these difficult economic times, protectionism is a simplistic, dangerous route to take that will only make things worse!

Regards,

Greg

 

[V8Interceptor]

I live in the Providence (RI) area and this will hit like a ton of bricks, the state is already in the top 10% as far as unemployment goes...

 

[yasotay]

Interesting... wonder what that will do to the Bell/Boeing work on V-22?