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AeroVironment, Inc. Message Board

  • imadtchdgr imadtchdgr Sep 22, 2013 8:19 AM Flag

    Need new management!

    I'm long the stock but trying to figure out why!
    I opened the recent mailing from AVAV, reading through it I got this sense that it was all bs. This company seems to be spinning wheels and getting no traction. One of the posts here in regards to insider trading got me going so I decided to check out the CEO’s background and qualifications, Tim Conver earned an MBA and was previously CEO of Whittaker Electronic Resources which was a small subsidiary of the Whittaker Corp. Finding anything on Whittaker Electronic Resources was near impossible probably because it was a relatively small element and it got swallowed up by another division a few years after Conver left. Found this in an old article; “Electronic Resources makes high-temperature cables.” Another article mentioned that they supplied cable to the nuclear and oil industry, not much else. Also not much of an endorsement for running an aeronautics company. Conver had a chance meeting with MacCready, forked over some money and became CEO of AVAV. Someone mentioned a hedge fun finding interest in AVAV, I’m thinking shaking up the management may be what this stock needs.
    Also my understanding is that the Global Observer is dead, but the letter made it sound like it was this great opportunity. I do recall Google talking about setting up floating cell towers, maybe…
    “In December 2012, the Pentagon closed the development contract for the Global Observer, the reason being for the crash in April 2011. The Global Observer was used as a technology demonstration, not a program for a functioning aircraft. In April 2013, the Pentagon stated that no service or defense agency had advocated for it to be a program. Aerovironment is currently in possession of the second prototype Global Observer.”

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