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Coalition Hopes To Cover Shipyard Closure With Falling Fighter Jet Sales
DecentLivingWage
Posts: 738 Forumite
According to Bloomberg, BAE is thinking about which of its 3 U.K. shipyards to close down because of orders drying up. Cameron is struggling with the political damage limitation of this rise in unemployment by trying to get export deals for other bits of BAE but isn't having much luck.
Middle East sales are really important,make or break,for BAE as defense spending dries up in its 2 most important markets,America and UK. BAE, desperate for the next contract in Saudi, thinks earnings could be damaged because of delays in confirming price negotiations from a 2007 contract.
After the doomed EADS merger, BAE promised it would finish the Omani contract by 2013 but discussions stumbled because Oman was unhappy with the tardiness of a naval-vessel contract.
The Middle East order comes after more problems for the Eurofighter consortium in India, Japan and Switzerland -there it was beaten by France, the U.S. and Sweden.
The big worry for Cameron is that production of Typhoons could end up with no more orders by 2020.
http://www.bloomberg.com/news/2012-12-21/oman-to-buy-12-typhoon-8-hawk-aircraft-from-bae-cameron-says.html
Middle East sales are really important,make or break,for BAE as defense spending dries up in its 2 most important markets,America and UK. BAE, desperate for the next contract in Saudi, thinks earnings could be damaged because of delays in confirming price negotiations from a 2007 contract.
After the doomed EADS merger, BAE promised it would finish the Omani contract by 2013 but discussions stumbled because Oman was unhappy with the tardiness of a naval-vessel contract.
The Middle East order comes after more problems for the Eurofighter consortium in India, Japan and Switzerland -there it was beaten by France, the U.S. and Sweden.
The big worry for Cameron is that production of Typhoons could end up with no more orders by 2020.
http://www.bloomberg.com/news/2012-12-21/oman-to-buy-12-typhoon-8-hawk-aircraft-from-bae-cameron-says.html
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Comments
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The sfo shouldn't have got so uppity about bribes. It's how the developing third world works.0
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The sfo shouldn't have got so uppity about bribes. It's how the developing third world works.
I wonder if Sweden and more particularly France, our trading "partners" are so robust in being squeaky clean."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »I wonder if Sweden and more particularly France, our trading "partners" are so robust in being squeaky clean.
France/Libya ? Interesting Point!0 -
The sfo shouldn't have got so uppity about bribes. It's how the developing third world works.
The SFO doesn't make the law - that's down to parliament. Since the BAE case, parliament has passed a much more robust piece of anti-bribery legislation. Arguably it is more robust than the US regime in some regards.0 -
DecentLivingWage wrote: »According to Bloomberg, BAE is thinking about which of its 3 U.K. shipyards to close down because of orders drying up. Cameron is struggling with the political damage limitation of this rise in unemployment by trying to get export deals for other bits of BAE but isn't having much luck.
Well he could solve his problem by building a few more patrol craft to protect UK waters from illigal immigrants, smugglers, fishery protection and the like, rather than decimating HM Coastguard.Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.0 -
chewmylegoff wrote: »The SFO doesn't make the law - that's down to parliament. Since the BAE case, parliament has passed a much more robust piece of anti-bribery legislation. Arguably it is more robust than the US regime in some regards.
They could have turned a blind eye.0 -
They could have turned a blind eye.
It's not their job to decide whether or not to prosecute - they investigate to see if there is sufficient evidence to prosecute. The prosecution decision is down to the attorney general. If I recall correctly the AG decided it was in the public interest to prosecute but the government disagreed and pulled the plug.0 -
I'm really wondering whether it's high time for the little man to take a stand worldwide, through our elected voice - the politicians (as Ed Miliband did over the mega bully Murdoch, Obama is trying to do with NRA gun lobby and now with bribery/banks etc.) Social media is making us all more aware of cover ups/lies/secrets and making us stronger? No more fudging and propaganda?0
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So it's the Government's fault that other countries' economies have gone to pot. Is that what OP is trying to say?
It seems unlikely to me.0 -
So it's the Government's fault that other countries' economies have gone to pot. Is that what OP is trying to say?
It seems unlikely to me.
Perhaps the economic future of companies like BAE is not in building $50m+ fighter planes or aircraft carriers costing billions.
Cheap unmanned drones ; flexible anti-piracy offshore defense ships ; multi-purpose vehicles. These things could be sold at reasonable price and find a wide market.
It's still an unstable world out there; it's just the nature of the emerging threats has changed.0
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