The Carlyle Group Does It Again: More Insider Trading?

[JCMach1]

Today, we learned that "he U.S. Army said on Monday it was canceling the $39 billion Comanche helicopter program being developed by Boeing Co. and United Technologies Corp., saying it had become obsolete and the money could be better spent on other aircraft." This alone might actually be a good thing. Who needs another multi-billion dollar arms program when the equipment you have can easily do the job with upgrades. What makes this case different is once again The Carlyle groups which owns the majority stake in United Technologies filed to sell a huge amount of shares before the announcement of the cancellation...

http://thesyndrome.com/
http://www.thesyndrome.com/archives/00000567.htm

ENJOY DUers...

[0007]

1. Do you have a link with a little more information?

Love to see the Carlyle crime cabal go down

[maddezmom]

2. here's a link

http://www.washingtonpost.com/wp-dyn/articles/A702-2004Feb23_2.html

~snip~

The cancellation was a blow to the Comanche's prime contractors, Boeing Co. and Sikorsky Aircraft, a unit of United Technologies Inc.

"We are surprised and disappointed by the Army's announcement today to terminate the RAH-66 COMANCHE program," Boeing and Sikorsky said in a statement. "Five of these advanced technology aircraft are on the production line today, and we are on plan for the program."

The cancellation also raised concerns on Wall Street that the robust defense spending of recent years could slow. Defense stocks fell, with Boeing dropping 72 cents, to $43.62, and United Technologies declining $2.82, to $93.80.

A senior Army official said the Pentagon expects to have to pay a $450 million to $680 million termination fee to Boeing and Sikorsky.

The program's elimination, however, could benefit the two companies. The Army now plans to pour more money into the Apache, which is manufactured by Boeing, and step up the purchase of Black Hawk helicopters, made by Sikorsky.

~snip~

[0007]

3. Many thanks, man

[buckeye1]

4. No.

There is no contact with anything. This is a LIE.

[JCMach1]

5. Not a lie, it's a pattern... Carlyle Dumped shares of United Tech.

Before the Crusader was cancelled.

The same thing happened here.

They sold before the bottom dropped out.

There will be no other info., because no one has the cojones to actually investigate their activities...!

Move along, never happened...

[JCMach1]

6. They applied to sell shares 1 month before the cancellation??

Will the SEC look at this?

Not a chance...

[0007]

7. State you case!

[JCMach1]

8. Read the updated story... now with back information on the crusader

project

[JCMach1]

9. In both cases they dumped shares before a cancellation

announcement.

For the Crusader, the cancellation was actually dragged out until after the very important IPO had taken place.

[Turley]

10. Hate to pour cold water on this story but

United Technologies (UTX) and United Defense (UDI) are two separate companies. I don't think Carlyle owns any significant stake in UTX which had the Comache program cancelled. Carlyle is still a major shareholder in UDI.

syndrome.com needs to sort of check their facts.

Cheers

[mbperrin]

11. Carlyle sold their UDI on the 17th of February.

http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20040217006293&newsLang=en

United Defense Major Shareholder Sells 7.0 Million Shares

ARLINGTON, Va.--(BUSINESS WIRE)--Feb. 17, 2004--United Defense Industries, Inc. (NYSE:UDI) announced today that certain of its stockholders, affiliates of The Carlyle Group, sold 7.0 million shares of its common stock, or approximately $213 million, in a public offering led by J.P. Morgan Securities Inc. United Defense Industries will not receive any proceeds from the offering.
<more>

[Turley]

12. Yes I'm aware of that

The issue is, of course, is that UDI doesn't make Comanche helicopters (or any other sort of helicopters) which is what this thread is about.

[mbperrin]

13. You had two points - one being that Carlyle was still in

UDI. Not trying for an argument, just trying to keep all facts straight. Thanks.

[Moderator]

14. JCMach1

'The Syndrome' is not considered a valid news source. Also, there are already threads about this in LBN...

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=380394

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=381105

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=380737