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17 June 2015

UTC Selling the Dream - Literally

What would the émigré Igor Sikorsky have made of UTC’s cutthroat capitalist decision to sell his helicopter company based on the fact it was not due to make as much profit as UTC’s avarice motivated senior management required. Why not burn his desk and raffle his possessions too? Such items are still held in place, with reverence, as they were on his last day in the factory where he worked. Not an ostentatious man by company remembrances, his office was located with his engineers and working men towards the back and side of the building - not at the front for all to see.

If ever there was a man to step on Sikorsky’s famed fedora, then take a bow UTC CEO Gregory Hayes. Forget the fact that Sikorsky has been a part of UTC since 1929. Forget also that during the years of plenty Sikorsky has watched government money roll in with successive administrations only too eager (and patriotic) to buy its products.

Now that the sequestration fuelled wind is more chill, and times are harder, loyalty to those who have believed in the company and the billions that it has received from the taxpayer count for nought. It will not make enough profit over a decade or so for the comfort of the UTC board. Not that they see a loss of course, just not enough profit. As for working around the problem, they just don’t seem to have the energy to roll up their sleeves and get to work. And if Textron can design and build a jet - the SCORPION - in under two years, what does that say about how hard the UTC board has really tried to ‘work the problem?’ If Sikorsky had shown a similar lack of commitment, today he would probably only be known as a milliner!
Andrew Drwiega

Igor Sikorsky

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