Mar 3, 2008

Things that make you go Hmmm

UTC Bids $3 Billion to buy Diebold

from daylife :

"We believe UTC's resources and presence in markets globally would be significant assets to Diebold in expanding its business worldwide and increasing its margins and profitability"
George David, CEO of UTC.

And Diebold's resources and presence in America would be significant assets to UTC.

Wiki on UTC

UTC is also a large military contractor, producing missile systems and military helicopters, most notably the Black Hawk Helicopter.[2] In 2005, it received over 5 billion dollars in military contracts. George David is the current CEO.

During the
2004 election cycle, UTC was the sixth largest defense industry donor to political campaigns, contributing a total of $789,561. 64% of UTC's 2004 contributions went to Republicans.

Researchers at the University of Massachusetts Amherst have identified UTC as the 43rd-largest corporate producer of air pollution in the United States, with roughly 430,000 pounds of toxic chemicals released annually into the air.[5] Major pollutants indicated by the study include manganese, chromium, nickel, and related compounds. [6] The Environmental Protection Agency has named UTC as a potentially responsible party for at least 23 Superfund toxic waste sites.

More on George David's Campaign contributions- (From Newsmeat) He certainly spreads it around.

Here's an illuminating bit from Business Week a few years back-

Then there is the protracted hand-wringing over UTC's two aerospace operations. David admits to being thrown off guard last February by the U.S. Army's cancellation of the $39 billion Comanche helicopter program with Sikorsky and partner Boeing. Black Hawk orders should fill the gap but, even so, some 700 jobs could be lost. Sikorsky is also locked in a fierce battle against Europe's Agusta-Westland to hold on to its contract to make the Presidential helicopters, known as Marine One. There's more than prestige at stake. With all the after-market support and sophisticated technology on the 27 or so helicopters that would be ordered, David says "you almost can't put a value on it."

I wonder how much easier it will be to get United States government contracts when you own Diebold? That's some major leverage for a man who buys it wherever he can get it.

UPDATE: Bradblog has all the details, of course
UPDATE 2: Hello to everyone from Mike's Blog Round Up and C&L

1 comment:

Batocchio said...