VERO BEACH — A second high-level Piper Aircraft Inc. executive is resigning from the company, less than six months after the company’s chief executive officer resigned.

The resignation of Piper’s president, John Becker, was announced Monday. His last day is Dec. 1. (more…)

VERO BEACH — Piper Aircraft Inc. is getting a new top executive. The Vero Beach-based plane maker announced Wednesday that James Bass, its president and chief executive officer since 2005, will resign on June 26.

Kevin Gould, Piper’s vice president of operations, will take over as CEO. John Becker, a 20-year Piper veteran and vice president of engineering, will become president.

Bass said his goal when he took the helm at Piper was to turn around the then-struggling company and make it attractive to a buyer. The Asian investment firm Imprimis bought the plane maker in April.

“I have successfully completed my mission at Piper and am leaving the company in very capable hands,” Bass said in a statement. “What I was brought in to do has been done, and it is now time for me to move on to other challenges.”

VERO BEACH — Sales of Piper Aircraft Inc.’s planes lost altitude during the first quarter, dropping 49 percent compared with the first quarter of 2008.

The Vero Beach-based plane maker shipped 22 planes worth $20.8 million from January through March, down from 43 planes worth $33.2 million during the same period last year, according to figures released Tuesday by the Washington D.C.-based General Aviation Manufacturers Association.

Piper’s results mirrored trends across the industry, which reported a 41 percent drop in shipments.

VERO BEACH — Piper Aircraft Inc. has been sold to an international investment firm for an undisclosed price.

The Vero Beach-based plane maker announced today that Imprimis purchased 100 stake in the company from American Capital Ltd. (Nasdaq: ACAS).

“Imprimis intends to invest significant capital in Piper’s current operations to strengthen its position in its traditional markets and support the development of key new products such as the PiperJet,” Piper said in a statement.

Imprimis, which operates from offices in Bangkok, Singapore and Brunei Darussalam, is committed to keeping Piper’s headquarters in Vero Beach, the company said. (more…)

Employees at Pratt & Whitney in Northern Palm Beach County will receive five days off, without pay, as the parent company of both Pratt and Sikorsky Aircraft lowered its 2009 profit forecast and announced that 11,600 workers will be laid off in 2009.

Pratt’s portions of the sprawling facility along the Beeline Highway in Northern Palm Beach County will be shut down, along with all Hartford, Conn.-based United Technologies Corp.’s Pratt & Whitney locations in the United States, on April 13, May 22, Sept. 4, Oct. 12 and Nov. 25.

“The furlough program is a part of our overall efforts to reduce costs with a focus on ensuring a strong future for the company, our employees, customers and shareowners,” the company released in a statement.

The moves, part of an expanded $750 million restructuring program because of the deteriorating commercial aerospace market, are being driven by a decline in expected revenue, which is now seen totaling $55 billion this year, down $2.7 billion from a December estimate.

Besides the furlough days, Pratt & Whitney has limited hiring, decreased the use of contract and temporary personnel, cut back on travel and deferred merit pay increases for 2009. (more…)

The $50 copay for his Plavix prescription was more than Leon Graybill could afford, even before he was laid off.

As of Saturday, Graybill and the other 299 people laid off Feb. 10 from Piper Aircraft Inc. are without employer-based health insurance. They join the growing ranks of unemployed people struggling to pay for individual health insurance — or more often, daring to go without insurance so they can pay to keep a roof over their heads and food on their table.

Graybill is a 55-year-old stroke and heart attack survivor with a bum knee. His wife is a 53-year-old per diem nurse, meaning she doesn’t get benefits. She is diabetic and needs some dental work.

“With all of that hanging around, insurance is crucial,” Graybill said.

But it also might be unaffordable.

(more…)

Greg Osborne has trouble sleeping at night.

Osborne, a former Piper Aircraft Inc. employee who got laid off earlier this month, wonders how he’ll be able to pay for his five prescriptions when his medical insurance runs out at the end of the month. He worries about how he’ll make rent this month and how he can delay paying for utilities.

But most of all, he prays that his kidney cancer doesn’t return.

“I loved my job. I loved that company, I loved my co-workers, it was my life. It was my family,” said Osborne, a former aircraft inspector at Piper for more than 11 years. “There’s days go by, I don’t even eat.”

Osborne joined other former Piper employees at a workshop organized by the United Way and Workforce Solutions of Indian River County Monday. The two agencies held seminars to help former Piper employees find social services and other financial assistance from the county and state. (more…)

Slumping aircraft sales are prompting more furloughs at Piper Aircraft Inc.’s headquarters in Vero Beach.

The plane maker announced today that it would shut down the plant at the Vero Beach Municipal Airport for one week in May and one week in June, forcing all employees to take unpaid leave.

The furloughs are in addition to week-long plant closures planned for April and July, which Piper announced earlier this month. (more…)

VERO BEACH — Eight months after the state promised Piper Aircraft Inc. $32 million to keep its headquarters in Vero Beach, the plane maker has laid off 300 workers and plans to halt production for two weeks this year.

Piper made the job cuts Tuesday, pointing to “a deepening global recession” that has eroded aircraft sales. No severance packages were offered to the employees, most of whom were production-line workers.

“We can’t keep a full workforce on at this point when people aren’t buying planes,” company spokesman Mark Miller said.

The pink slips come on the heels of 150 layoffs that Piper announced last month. When those cuts were executed, most of the remaining workers were put on four-day workweeks.

In another move to slash costs, Piper will close its plant for a week in April and another in July, furloughing all workers, including executives. (more…)

VERO BEACH — Normal business operations have resumed at Piper Aircraft Inc. and while the company said it will not seek more incentive money from the county, the status of the state’s next installment from the $32 million incentive package remains unknown.

An operator answering calls at Piper’s headquarters said the facility reopened Monday. Piper executives declined to comment but an internal Piper memo distributed in November said employees were scheduled to return to work this week. In past years, Piper had implemented a one- to two-week plant shutdown. The recent shutdown was longer than normal. (more…)