[Swiftwater Gazette] We taught those rich bastards a lesson!

[Brad Haslett]

More bad economic news after a re-visit to this wisdom -

"You cannot bring about prosperity by discouraging thrift.
You cannot help small men by tearing down big men.
You cannot strengthen the weak by weakening the strong.
You cannot lift the wage-earner by pulling down the wage-payer.
You cannot help the poor man by destroying the rich.
You cannot keep out of trouble by spending more than your income.
You cannot further the brotherhood of man by inciting class hatred.
You cannot establish security on borrowed money.
You cannot build character and courage by taking away men's initiative
and independence.
You cannot help men permanently by doing for them what they could
and should do for themselves."

------------------------------

Tuesday, February 3, 2009

An official with Hawker Beechcraft said today the company will cut
2,300 jobs. The cuts will take place before the end of 2009.

Hawker Beechcraft operates plants in Wichita and Salina. The company
has 9,800 workers worldwide. The cuts are equal to roughly 25% of
Hawker's workforce.

Employees are being notified of the news today. A company official
said some of the employees could learn of their layoffs as early as
Friday.

"The bottom line is that we must be prepared to do whatever is
required to make certain that we successfully emerge from the downturn
and are able to provide future generations with the kinds of jobs that
we and previous generations have enjoyed", said Hawker Beechcraft CEO
Jim Schuster in a letter to employees. The entire letter is included
below.

The cuts announced today come nearly three months after Hawker
Beechcraft laid off 490 workers.

# Letter to Hawker Beechcraft Workers

February 3, 2009
Dear Fellow Hawker Beechcraft Employee:
In early January, I announced the regrettable but necessary need for
Hawker Beechcraft to further reduce its production and workforce
levels due to the increasing severity of the global economic decline.
I also promised to keep you updated as we completed changes to our
business plans.

In the short time since my last communication, we have experienced
increased erosion across our industry and the global economy. In
addition to declining orders and deliveries, we are facing a host of
new challenges:
§ The government's stimulus package has failed to sufficiently loosen
credit markets, which are absolutely vital to the success of HBC and
our industry
§ Orders from previously high-volume business segments - the
fractional market in particular - have slowed considerably
§ The media and some politicians have cast general aviation as a
wasteful extravagance instead of a critical business tool and the
source of millions of American jobs.

A recent editorial in the New York Times pointed out just how
inaccurate and potentially damaging this portrayal is:
- More than one million Americans are employed in manufacturing,
managing and maintaining business aircraft
- American aircraft manufacturers dominate the industry globally with
half of all U.S. production exported to overseas markets
- Business aviation contributes $150 billion annually to the U.S. economy
The increased challenges that lay before us demand an extraordinary
response from our company and the U.S. aviation industry to ensure our
short-term stability and long-term success. Therefore, we at HBC have
conducted a sweeping evaluation of our business plans and implemented
a wide range of measures to dramatically reduce our costs. As a
consequence of these actions, we will be forced to reduce our
workforce by approximately 2,300 employees before the end of the year.
The majority will be notified by their management on February 6th.
This is an extremely painful step for the HBC family and community,
but one that is absolutely necessary. While I wish I could commit to
you that this will be our final action, I cannot do so at this time
given the extreme volatility in the marketplace. The bottom line is
that we must be prepared to do whatever is required to make certain
that we successfully emerge from the downturn and are able to provide
future generations with the kinds of jobs that we and previous
generations have enjoyed.

We are undoubtedly facing one of the most severe tests in our
company's history. However, I want to make clear that I firmly believe
HBC, above all others, has the right brands, the right products and
most of all, the right people to see us through to a brighter future.

Sincerely,

Jim Schuster
Chairman and CEO