"May you live in interesting times"
For the past 10 years, Vern Raburn has followed his own, unique, star. He sought solutions to problems that others had already solved and as direct result burned through more money than any similar startup. By a factor of 10. The E500 he currently offers is still incomplete, with those lucky enough to possess one facing I.O.U's for critical items like F.I.K.I., AvioNG and 'fixtures and fittings' too numerous to mention.
The general economic background to this is also important. In the past few months several aviation companies bringing similar 'new technology' approaches have stumbled or fallen. Colombia and Adam Aircraft are recent casualties. The small glimmers of good news, like that from Diamond, have relied on public money. In this case, the Canadian's have offered funding to support production of The Jet in London, Ontario.
Talking of public money, the British have just had to nationlize Northern Rock, as they were unable to find any banker to take on the liability. Soc Gen in France seems to be heading for a nasty period over its own rogue trader. The Dollar continues to slide against other major trading currencies and the Fed is running out of points to cut off the prime lending rate.
So, will Vern be able to ramp production to the point where Eclipse can make enough money on current spending to stay afloat. More important, will enough REAL orders come along to support another visit to the equity markets? Based on patterens over the past year or so, that must be coming in the next 90 days.
Interesting times, for sure.