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Like some who post to this board, I was a former employee at P&W/UTC. The military side of the P&W's balance sheet will get some boost from the current Iraqi conflict, but the commercial side will see a negative result short term and who knows how long thereafter.

There is a surplus of airplanes in the commercial fleet. I heard that four 747 400's were sold at fire sale prices of 50 million each. For comparison, a new Gulfstream business jet sells somewhere in the 30 to 40 million range.

We already know the bad news at United and American Airlines.

So there is a theory that P&W results will be negative to the point that UTC will not make it's projections. This will be the first time that this has happened in several years.

Any comments?


PS. I am long on UTC and have a considerable portion of my 401K in UTX (ESOP) preferred stock. So I am hoping for the best.
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