Towards the end of the month prior that it is actually paid out if you have it sent to you. Again, go in and view your withdrawals if you have it sent.
Hopefully this will bring some $$$$ into the pipeline to offset some of the Canadian & Turkey losses.
From Seeking Alpha......
Pentagon adds last-minute funding for new Sikorsky helicopter • 6:51 PM
•The Pentagon said today that it would continue funding toward a new Sikorsky military rescue helicopter, paving the way for a potential contract award later this year to sole bidder United Technologies (UTX) that could eventually be worth more than $10B.
•The last-minute reprieve for the program follows intense lobbying by members of Congress, many of whom are critical of the broader $495B Pentagon budget. triggering horse-trading over various individual weapons purchases and planned cuts in the armed forces.
•U.S. Air Force officials had said previously that while the helicopter was needed, it may not make the cut because of budget pressures and other priorities.
Don't forget, since he has been president, the race relations in this country have tanked. He is, by all means, the most polarizing president. Also, he and his administration has very little regard for the active duty troops and veterans.
Just a guess.....Perhaps P&W is getting allot of the engine orders for the choppers from DOD? Typically, there are 2 orders. 1 for airframe and 1 for engines. Could that be why the wording was as it was?
Kid- I do NOT think Louie forgot the mother country when he signed the papers making him a US citizen. Maybe he signed up to get his current job. Forgive me for being so cynical.
I am too heavy into UTX also according to my age.65+ and retired. I will buy more at sub 100 and will sell @ 120+. I have spoken to people who have seen Chenervet in action and the way he treats people. He is a task master and he will not be denied his goal of driving the stock higher. After all, he has to prove he is every bit as good as his previous boss. Absent any market meltdowns, UTX will go higher. It is my belief that they are cleaning up the Sikorsky balance sheet to show they are profitable with great potential for "potential" suitors. Chenervet is Canadian but I am sure he is not too keen on S giving away S-92s to the Canadian Gvt and not receiving payment in return. My opinion, S failed miserably on that program and the Turkey program. If they didn't, they would not be giving away helicopters and paying the penalties they are paying. Louie isn't too happy about it.
No interpretation needed if you take UTC at its word. However, it does not mean if UTC gets its price for Sikorsky, that they will not sell it. I spoke to someone at S today about the layoffs and they have let a bunch of the 600 go already and more are being walked out today. The cash situation there is really poor. Great leadership, right? It just keeps getting worse and the only place to make it up is by chopping people. These are people with 20-30 years there.
I did not say, or mean for you to think that I sold at 120. Poor wording on my part. I lightened up around 118 and bought around 110. I plan on lightening up again if it gets to 120. 120 is my 'new' goal.
Last time it hit 118 I lightened up a bit and then bought a bit at 110. I am guessing I may get another opportunity to sell at 120 in the not-too-distant future. Happy days are here again. No complaints with UTX performance over the last 15 months. Outstanding!
Like I said, the tax code needs to be changed to bring it in line with a fairer taxing strategy and make it easier for the average high school grad to do their own taxes. I do not think anyone would disagree. I would like to see the income tax to be completely done away with and have a national sales tax. That way, you end up taxing even the underground economy money that allot of small businesses and individuals are hiding. When they spend it on all their niceties, they pay their taxes.
I do believe that all US businesses should pay their "fair" share, whatever that is. The tax code is far too complex and should be simplified. I keep hearing that but nothing seems to change. Several month back, I saw an article about the 100 most generous corporations/companies with respect to charitable giving in the US. GE was on top. I scanned the article looking for UTC but if I remember correctly, it was not in the top 100 list.
The helicopters are co-production with much of the work in Turkey. Because there were so many issues in the program, allot of penalties were involved including giving Turkey a "free" aircraft named the 'Free Hawk' by people at S. This new contract is a hope that things get better over the long run. Let's hope so for the benefit of the remaining people in CT.
Another report : 600 more over the next "several" weeks. Half salary/half hourly. Where do these people go to get work in a state that already has one of the highest unemployment rates in the country? And, you know a bunch are well into their 50's on up.
Just on the news. They announced another 600 layoffs next week at Sickorsky. Salary and hourly. This is how their management straightens things out. It is a "challenging business environment". Over the last 4 or 5 years, we are talking thousands of good people gone. Still think they are not hemorrhaging cash? We are talking a good percentage of the workforce.
IMO: It will add to the bottom line. They are eliminating a drag on earnings that will be there for awhile. They do not have the right people at S to get it done.