Criminal Activity?

[pitguy]

I have been hearing for awhile now that the company through the Vista stores surplus location in Pittsburgh is selling aircraft parts and other items as surplus for pennies on the dollar and then buying them back at full retail. Could this be to dump money off the books or could it be to line the pockets of a crooked few? Why would this be done? If anyone can add to this please do.

 

[hammerhead]

put down the coffee.

 

[700UW]

This is true, thousands of parts were shipped to the Vista Warehouse late last year, the rumors floating around is they were sold for 50 cents on the dollar and bought back at one dollar for every 50 cents.

Shortly after this Director of Maintenance Finance, Liz Jackson "resigned" along with one of the departing VPs (that is true), another part of the rumor is that there is an invesigation into what transpired going on.

 

[AOG-N-IT]

put down the coffee.

I would not be so eager to discredit that post amigo.

We have all seen numerous parts "Surplused" to the Vista warehouse in PIT , only to see them needed again due to the lowered averages of "On-Hand" Inventory.

I have seen parts surplused for every fleet type on the property....including the A330-300's...which is by far the hardest acft we own to support.

Trust blindly if you want too? The only blind faith I have is in God.

 

[cavalier]

This is true, thousands of parts were shipped to the Vista Warehouse late last year, the rumors floating around is they were sold for 50 cents on the dollar and bought back at one dollar for every 50 cents.

Shortly after this Director of Mainteance Finance, Liz Jackson "resigned" along with one of the departing VPs (that is true), another part of the rumor is that there is an invesigation into what transpired going on.

I know for a fact this stuff has been going on for years! I know one guy who bought a lot of the jet shop surplus for pennies on the dollar this way and started his own company doing it. Sounds like some people should be in jail.

 

[FLYAWAY]

De ja vu all over again. I remember 1991 and "Fast Eddie's Used Aircraft Parts"