REFLECTOR: Velocity Aerospace - rumor control

[Richard J. Gentil]

Thanx Scott for that report.

Richard

P.S. Herding cats is still better then trying to give one a pill! ;-)

Scott Baker wrote:

>Watching what is akin to a firestorm of questions, comments, criticisms
>and 'wonderisms' on the Reflector - I think its best to share some
>background on Velocity Aerospace and its connection with Velocity, Inc.
>1. Other than the Velocity On-Line newsletter being very late - nothing
>has changed at Velocity.  We are hard at work shipping new kits;
>customers are coming to the Velocity Service Center for builder support;
>builders are attending the Velocity Flight Transition Training Program;
>we are getting geared up for Sun 'n Fun (which is taking a lot of
>effort!); parts are being shipped; Velocity is working with unique
>sections of the flying world with Proxy Aviation Systems on UAV airframe
>development, and the Rocket Racing League in providing the first
>generation of Rocket Racing airframes; Velocity is slooooly working
>through its priority of things to finish in order to free Scott Swing to
>begin work on the Twin Velocity project; and the sky is not falling.  We
>are looking forward to Velocity Builder Expo in May in Dallas - the
>factory is a big supporter of the program (both financially, and in
>providing factory speakers).  In other words, Velocity, Inc. continues
>to dedicate itself to providing builders with kits, parts, Head Start
>training, flight training, and technical support.
>2. Duane Swing has opening talked about his desire to retire and to sell
>his assets in the business.  Years ago he published a short report in
>the Velocity Views - going so far as to solicit Velocity builders as
>possible investors.  The company has been working with an individual
>(not a Velocity builder), who has expressed an interest in certifying
>the aircraft in Asia - and selling completed aircraft to buyers in large
>numbers.  Velocity Aerospace LLC is an outgrowth of this plan.  Velocity
>Aerospace LLC is selling stock to raise money to augment private money
>that apparently is promised for this new venture.
>3. Velocity, Inc. and Velocity Aerospace, LLC have signed letters of
>intent - however there currently exists no contract between the
>companies, and there have been no exchange of monies.  In other words,
>there is an idea on the table - which is still an idea.  Nothing has
>happened in regards to selling the company - which is why there have
>been no news releases on our end.  Velocity Aerospace, LLC is sending
>press releases speaking of an 'imminent' purchase of Velocity, Inc.
>because they wish to attract investors.
>4. Velocity Aerospace, LLC is only interested in developing a certified
>version of the Velocity.  Should they purchase the company - which
>remains an uncertainty - kit production and support would go on as
>normal, with Scott Swing and Scott Baker and other key people still in
>place.  Duane on the other hand, plans to enjoy retirement.
>5. The Views have not been publishted because getting Velocity staff to
>write articles is like herding cats.  Don't read anything into its being
>late.
>
>Everybody back to building!
>SB
>
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