Cubdriver

I wonder about all this. They had a good aircraft, certified and sold, and were well on the way to having a second. Did they create the company merely to swindle investors from the getgo? Nah, I doubt it. Did they get left high and dry on the heels of Citibank's financial troubles? Yes I think so; but I am not sure.

Late in 2007 Citibank could not pay its bills because of defaulted student loan repayments. I happen to be one of their loan holders and I pay on time, but if Citibank could not help Adam due to defaulting accounts then Adam Aircraft could not keep its ship sailing long enough to tap the impressive sales revenues it claimed to already have on the books, and its collapse was an inevitable outcome. Or maybe it is just a sign of the times now with economic downturn being the order of the day. If so, then Adam was an early casualty and an indicator of what was to come in the months ahead.

I watched Adam build its business during years I was in college and I applied there for work as well as knew students who interned at their Colorado facility. I saw slides showing test rigs and pictures of the Adam facilities making airplanes during happier times. It's really too bad they folded... they did not deserve what they got. Sometimes fate is beyond anyone's control; who can decide what will happen to any of us and for whom the bell will toll.

So Adam Aircraft should be remembered for who they were, an innovative upstart with a bright future and an impressive product. Whom among us would fail to desire such a descriptor at some point along the way. Firms will be started and some will be deserving, but not all will survive and the ones that are lost should always be remembered.

-Cub