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Mooney is down...

M20BE

By M20BE
in General Mooney Talk

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RobertoTohme Collaborator

RobertoTohme

Posted
Posted

I just spoke to Trey Hughes, and the website down is a technical issue with the service provider.. it'll be back sometime today.   The insurance problem is for real, though; all of the board of directors but one have resigned to prevent personal liability issues.   Robert Gowens resigned on friday, btw...   I have been told that there's still parts mfg. going on, and that the service center is still up and running albeit with reduced staff.   It'll be greatly appreciated if one of our members in Kerrville can provide first hand information about wtf is going on there as my plane is sitting there for the type S conversion but haven't been able to get the service center guys on the phone.

MooneyPilot231 Contributor

MooneyPilot231

Posted
Posted

This is a problem for all of us. Our resale value is going to suffer. Mooney needs to look at fractional ownership and other alternatives to individual sales of aircraft. They have basically done nothing to change their marketing strategy while their business has gone down the tubes!!!

docket Proficient

docket

Posted
Posted

I would expect the filing, if there is one, in Delaware since MASG is a Delaware corporation.  I checked the filings this afternoon and there were none.  I think that the news is not going to be good here because I doubt that there is any Chapter 11 Plan that could be confirmed with no sales.  Moreover, I doubt that a lender, given the tight credit markets, is likely to extend any cash to preserve the entity as a going concern.  It is a real bummer for us all because it is a great product but the market forces will likely prevail.  56FM.

The-sky-captain Mentor

The-sky-captain

Posted
Posted

I guess we all know about this but it made it into AOPA's e-pilot email today

 

Mooney in 'superhibernation'

Sources indicate that another round of layoffs has occurred this week at the Mooney Airplane Company's Kerrville, Texas, factory. From a high of some 400 employees just a year ago, Mooney now has a skeleton staff of a mere 50 or so employees. The exact extent of the layoffs has never been released. Mooney production has ceased, and the company has gone into what it calls "superhibernation." Mooney is adopting a wait-and-see strategy until the economic situation improves.

  • 1 year later...
Jeff_S Grand Master

Jeff_S

Posted
Posted

M20BE, try refreshing the page, and potentially clearing your cache. If your browser has cached the error message it may not let you in until you clear that out.

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