Ever since it was announced almost a year ago, the much ballyhooed Power8 cost realignment and restructuring program over at Festung Airbus has been all show and no go. Of course we can expect that any day now the big heads at da Festung will discover that, after all, it was the fault of the mean old Americans and their funky ass, deadbeat dollar exchange rate.
Doug MacVitie of Arran Aerospace, whom I erroneously identified as Hugh (sorry Doug, it was a senior moment) has this to say:
"Hedging is difficult anyway," said Doug McVitie, head of consultancy firm Arran Aerospace. "The issue of the exchange rate doesn't in any way affect the fact that there are serious in-house managerial and engineering issues that have to be resolved."
According to McVitie, Airbus has failed to successfully implement the vital restructuring program, allowing unions to take control and demand that the seven plants to be sold should be unloaded according to their time frame; all in one go or not at all.
"Power8? I've got more power in my hair-dryer," said McVitie
Power8 is the biggest fraud since Piltdown Man, the Cardiff Giant, or the Pogue carburetor that would let you get 200 mpg but the oil companies had the inventor assassinated. Where are the pink slips? You can't cut jobs unless you, well, cut jobs. Fire the sonsabitches. Cut 'em loose. Get 'em gone.
10,000 job cuts? Sheeeeeeyyit, man, when I got laid off at Douglas 3,400 went out on the same day. The way you cut jobs is you cut them, instead of jabbering about it and blaming the mean nasty ole dollar.
Still no sale with the factories. That's a joke too.
"Look. We don't want these factories. They're overstaffed with bloated payrolls and they're horribly inefficient too and they can't cut the mustard or else we'd be keeping them, mind you. But you can't change the product lineup and you can't cut staff, and maybe we'll throw some production work at you in six or seven years if we ever get around to building some airplanes instead of all this infernal palaver."
How's THAT for a sales pitch?