Eclipse’s dream of very light jets has turned into a nightmare for the company’s employees:
We are very sad to report unexpected news today. Despite the efforts of many people at EclipseJet Aviation and ETIRC to obtain necessary funding to close the purchase of the assets of Eclipse Aviation, the closing of the sale transaction has stalled and our company is out of time and money. Given the dire circumstances in today’s global marketplace and the lack of additional debtor-in-possession funding, the senior secured creditors of the Company filed a motion today in US Bankruptcy Court in Delaware to convert the Chapter 11 case to a Chapter 7 liquidation. This action, under the circumstances, is being supported by the directors of Eclipse.
It’s a shame, really. But that’s what happen when you target bloggers.
A great initial concept that, once the original targeted engine failed to live up to the hype, suffered the fate of a lot of most designs – more weight, less performance, than initially envisioned. Unusual in that founding management were not so much airplane people as high tech people – founder being ex-Microsoft Exec. who promised to bring hi-tech startup culture to bear. Harder to make airplanes than power point slides it seems.
Brought friction stir welding to the forefront of small aircraft manufacturing which offered lower manufacturing costs competitive with composites.
But, delays, delays, etc in airframe, engine, and avionics made cost overruns the rule of the day and, combined with the recession nailed the coffin closed.
So its not just military development programs that suffer cost overruns – this stuff is just hard to do when you are on the leading edge.
I suspect their type certificate and tooling will be bought up and you haven’t seen the last of what seemed to be a fairly good design…
Losers include, employees, investors, suppliers, and initial owners including deposit holders that are likely out all their money. Add to the the taxpayers of New Mexico who contributed to get them to locate their based on future tax receipts.
Sucks to be all them I guess….
Test.
Test a line break.
Test a double line break.
The bombing begins in five minutes…
Is this thing on?
I think this is close enough for now. Geez, I’d wandered into a dark and lonely section of the blogoverse…
Sometimes close is as far as you’re gonna get…
Generally I agree with OldT6Flyer. One thing I would like to add in Vern’s defense (knew him around the edges years ago but kept track of him, his brother and I hung in the same group).
Vern lived and breathed airplanes, has owned several warbirds and was not a rookie when it comes to aviation.
Having said that, there is certainly a big difference between being in love with aviation and making money in aviation.
It’s the old “how do you make one million dollars in aviation? You take 2 million dollars and…..”
I didn’t mean to imply that I was dissing Vern. I just followed Eclipse from day one and saw it as a very bold move. Also, I’m sure Vern was and is a good airplane guy. I just know a lot of Silicon Valley types (that was the industry I grew up in) had a lot of success in High Tech back in the pre-internet bubble days and thought everyone in any other industry just didn’t get it. After enjoying huge successes they thought they all walked on water. Vern may not have been one of them – I don’t know. But I’ve seen time and time again where, in trying to recreate the magic, they have all had to learn that is wasn’t all their magic charms and being part of a once in a lifetime experience like the dawn of the personal computer age and the rollout of the internet doesn’t guarantee success in other ventures.
If the Williams engine had lived up to its promise, if a thousand other things had not happened….etc.
Its sad to see it end this way but, like I said, I suspect it will rise again. Something about airplanes that make people with lots of money want to part with even more of it to be part of creating the magic of flight.
He will go down in history as the brainchild of the Very Light Jet concept that lives on in other designs and likely will in this one. Its a concept that has a very attractive set of benefits to it – even in this anti-General Aviation climate we see now.
Interesting to see all the Congress people piling on executives for using private jets while never a peep is raised for Pelosi’s demanding an Air Force jet to fly her back and forth across the country. I guess spending other people’s money is more worthy than actually making some….
OT6F – Just clicked on your link for the first time and saw what you all do. I’m the son of a 40 year Silicon Valley Tool & Die Maker and just about thought I’d gone to heaven looking at your site. Cool stuff. I grew up bumping into my Dads lathe and mill in the garage. Not too much CNC stuff, but it is the wave of the future. My dad did a bit of that teaching at De Anza on the side. Anyway, just thought I’d tell you I liked your web site.
Why thank you. Its not all that glamorous but I had this strange dream one day to own a manufacturing company. I felt that US was letting it’s economy become too dependent on providing services and not enough actually making stuff.
I can tell you it is hard to make money in this business but we are getting by. It does make me feel good to make things that are helping our military (at least I hope they are as we are so far down the food chain I often don’t even know what the parts are used for).
It is good to be out of the corporate world but I do miss some of the energy that was the high tech world during the boom years. But, like all good things, had to come to an end at least for awhile.
I do fear that, the view from Washington on both sides of the aisle just doesn’t understand how important it is to ease up on business. Not all business is about over-leveraged ponzi schemes where the few take the most from the many. Most of those that aren’t involve getting your hands literally dirty most days…
Speaking of which . . .
T6…
yea, I didn’t think you were dissin Vern and it’s been so long since way back then that I don’t kknow how he thinks nowadays.
It’s hard enough to make it in aviation with a strong lead but damn near impossible if you have distance to make up. When the whole Williams thing started I thought “oh-oh, he’s gunna be in trouble”.
OT….did you make “Bibb Turbos” at one time?
Nope never made turbos – even one’s not carrying the family name. Also never grew lettuce, either.
But given the small numbers of folks that do share the name, and seeing how the best anyone can tell we all descended from one John Bibb who immigrated to Ole Virginny way back in the Colonial Era, probably some long lost relative did.
RB-good summary of the Eclipse situation but one thing to add. The lack of experience was huge when underestimating overall program costs. The jet was poised to sell big at around $1M (not suggeting this is cheap) but inflated to more than double this. The Williams engine hurt them badly as you point out along with other delays and price /cost overruns that spooked customers and investors.
Cessna’s tremendous experience allowed them to get the Mustang VLJ launched on time close to the same price where Eclipse ended up.
They won’t sell many of ‘em given the economic climate though.
What a pity, that is rather a pretty little airplane.