Quote:
As usual you only tell part of the story (maybe you'd make a good Obama staffer?).
And now ... the rest of the story.
In the 60's, 70's and 80's there were significant legal judgements against General Aviation Manufacturers. Cessna never imagined when they produced an airplane that they might be legally liable for accidents 50 years later. They stopped producing airplanes (maybe that's why sales plummeted?)
In an effort to limit manufacturer liability and save the industry, Congress passed the General Aviation Revitalization Act (GARA). I'll spare you the ugly details and post a link below ...
General Aviation Revitalization Act - Wikipedia, the free encyclopedia
Mark,Originally Posted by MaydayMark
George, George, George ...As usual you only tell part of the story (maybe you'd make a good Obama staffer?).
And now ... the rest of the story.
In the 60's, 70's and 80's there were significant legal judgements against General Aviation Manufacturers. Cessna never imagined when they produced an airplane that they might be legally liable for accidents 50 years later. They stopped producing airplanes (maybe that's why sales plummeted?)
In an effort to limit manufacturer liability and save the industry, Congress passed the General Aviation Revitalization Act (GARA). I'll spare you the ugly details and post a link below ...
General Aviation Revitalization Act - Wikipedia, the free encyclopedia
The Act you quote went a long way to correct the liability issue. The big problem is that the customers don't have the $$$s available. Earnings growth for a large segment of the population has been flat for the last 30-40 years. If you remove women, the earnings have actually gone down. The only segment of the population besides senior management that has had earning growth in excess of the CPI has been the US military.