Bannson Industries, PJEL, Vie for Bankrupt Norne Aerospace 01/19/3133
INN - Interstellar News Network
KALE BAY – In the ongoing race to claim the high ground in the interstellar shipping
industry, Bannson Industries and local rivals Prince John Express Lines (PJEL) have
both made bids for Norne Aerospace Corporation. Norne Aerospace declared
bankruptcy early last month, citing sagging fourth quarter earnings that followed a
series of deadly and much-publicized accidents involving their small fleet of converted
Fury-class cargo transports.
The Bakersport-based Norne Aerospace offered regular cargo and passenger
DropShip services to customers on Addicks, Helen, Murchison and Towne, and
claimed nearly 3,000 employees in 3131, with a fleet of four cargo-converted Fury
DropShips, one older Mule DropShip, and a dozen small shuttlecraft. However,
disasters in recent months have critically damaged the shipping company’s reputation
on the market. The worst of these, the crash of the Sharon Morris near the Felkra
continent on Murchison, cost the lives of all hands, dumped over 700 tons of
hazardous petrochemicals into the local ocean, and was attributed to poor
maintenance standards on the vessel. The bidding for the now-bankrupt Norne
Aerospace opened yesterday, following the settlement of several lawsuits stemming
from that August crash, with Bannson and PJEL making the highest offers.
The bid for Norne marks the first major effort by Port Howard-based PJEL to acquire
another company’s holdings since 3125, when the company acquired Towne
Charters, a recreational tour line bankrupted by poor accounting practices. Norne
Aerospace, however, represents the biggest acquisition for PJEL, though many
believe the much smaller PJEL will not be able to compete with the Bannson
Industries megacorporation. But the mood for PJEL remains optimistic.
“In the end, it’s not so much about the money, as it is about the whole package deal,”
said Richard Harvey, vice president of PJEL. “Norne’s executives have expressed
their wish to keep their people employed and safe despite the unfortunate turn of
events that’s forced them to this point, and our package deal promises both.”
Harvey went on to add that the PJEL offer includes a clause stipulating that no more
than twenty percent of Norne’s workforce will be cut in the buy-out, which includes
the entire space fleet, dock crews, and administrative staff, and that shipments to
worlds where hostilities are in progress will be aborted until calm is restored. The
latter seems to be an acknowledgement of Bannson’s own shift to a more aggressive
policy, with recent fighting on Ozawa between BI security troops and the Spirit Cat
faction.
Bannson executives, however, refute the implications made by Harvey.
“The way Mr. Harvey has it, one would think we were some kind of corporate pirates
or something,” quipped Klaus Lettig, local director of purchasing for Bannson
Industries. “The conflict on Ozawa is not some noble squabble or political conquest,
but a legitimate defense of BI’s interests on that planet, made necessary by Duchess
Tormark’s recent departure from the area.
“As to the issue of layoffs, the fact is Mr. Bannson cares very much about the
common man, and feels keenly the effects of having to let anyone go who can’t help
pull the company’s weight. Unfortunately, no company – from the PJELs to the BIs –
can stay afloat by just buying up other businesses on a whim, without being willing to
drop a few redundant positions. That may not be the kind of thing all the employees
want to hear, but rest assured, it’s the best way to keep most of them employed.”
Lettig adds that, should excess layoffs become necessary in the event that Norne
Aerospace accepts his bid, Bannson industries offers a generous severance package to
all affected Norne Aerospace employees, based on their seniority.
Towne Log
+ Another buy-out from our friends at Bannson Industries!? Why doesn’t he just send
his thugs here, too? :- Hippee
+ Don’t tempt him, Hippee. There weren’t any BI “interests” on Ozawa worth
sending ‘Mechs there over. I don’t care what his money-grubbing Lyran Lettig says,
Bannson’s only looking out for Number One. :- Kemosabe
+ I don’t know what you all have against big corps. At least Bannson’s a commoner,
not some schmuck who got money, power, and an army because he was born into it.
If he wants to carve out an empire of his own while the nobles and Clammers give
into their old hatreds, more power to him! :- RepMan
+ You’re serious? You’d give free license to build a little empire to a guy who buys
and sells people’s futures? I’ve got two words for you, RepMan: DiNapoli Industries.
I’d rather see PJEL get this one, just to give BI a reality check! :- Kemosabe
+ I’m not so sure about that, Kemo. Norne went under mainly thanks to dumping all
that jet fuel into the North Felkra Sea, but the whole problem really goes back to poor
safety standards company-wide, and PJEL wants to keep most of those responsible?
That’s courting disaster. :- Chungabunga
INN - Interstellar News Network
KALE BAY – In the ongoing race to claim the high ground in the interstellar shipping
industry, Bannson Industries and local rivals Prince John Express Lines (PJEL) have
both made bids for Norne Aerospace Corporation. Norne Aerospace declared
bankruptcy early last month, citing sagging fourth quarter earnings that followed a
series of deadly and much-publicized accidents involving their small fleet of converted
Fury-class cargo transports.
The Bakersport-based Norne Aerospace offered regular cargo and passenger
DropShip services to customers on Addicks, Helen, Murchison and Towne, and
claimed nearly 3,000 employees in 3131, with a fleet of four cargo-converted Fury
DropShips, one older Mule DropShip, and a dozen small shuttlecraft. However,
disasters in recent months have critically damaged the shipping company’s reputation
on the market. The worst of these, the crash of the Sharon Morris near the Felkra
continent on Murchison, cost the lives of all hands, dumped over 700 tons of
hazardous petrochemicals into the local ocean, and was attributed to poor
maintenance standards on the vessel. The bidding for the now-bankrupt Norne
Aerospace opened yesterday, following the settlement of several lawsuits stemming
from that August crash, with Bannson and PJEL making the highest offers.
The bid for Norne marks the first major effort by Port Howard-based PJEL to acquire
another company’s holdings since 3125, when the company acquired Towne
Charters, a recreational tour line bankrupted by poor accounting practices. Norne
Aerospace, however, represents the biggest acquisition for PJEL, though many
believe the much smaller PJEL will not be able to compete with the Bannson
Industries megacorporation. But the mood for PJEL remains optimistic.
“In the end, it’s not so much about the money, as it is about the whole package deal,”
said Richard Harvey, vice president of PJEL. “Norne’s executives have expressed
their wish to keep their people employed and safe despite the unfortunate turn of
events that’s forced them to this point, and our package deal promises both.”
Harvey went on to add that the PJEL offer includes a clause stipulating that no more
than twenty percent of Norne’s workforce will be cut in the buy-out, which includes
the entire space fleet, dock crews, and administrative staff, and that shipments to
worlds where hostilities are in progress will be aborted until calm is restored. The
latter seems to be an acknowledgement of Bannson’s own shift to a more aggressive
policy, with recent fighting on Ozawa between BI security troops and the Spirit Cat
faction.
Bannson executives, however, refute the implications made by Harvey.
“The way Mr. Harvey has it, one would think we were some kind of corporate pirates
or something,” quipped Klaus Lettig, local director of purchasing for Bannson
Industries. “The conflict on Ozawa is not some noble squabble or political conquest,
but a legitimate defense of BI’s interests on that planet, made necessary by Duchess
Tormark’s recent departure from the area.
“As to the issue of layoffs, the fact is Mr. Bannson cares very much about the
common man, and feels keenly the effects of having to let anyone go who can’t help
pull the company’s weight. Unfortunately, no company – from the PJELs to the BIs –
can stay afloat by just buying up other businesses on a whim, without being willing to
drop a few redundant positions. That may not be the kind of thing all the employees
want to hear, but rest assured, it’s the best way to keep most of them employed.”
Lettig adds that, should excess layoffs become necessary in the event that Norne
Aerospace accepts his bid, Bannson industries offers a generous severance package to
all affected Norne Aerospace employees, based on their seniority.
Towne Log
+ Another buy-out from our friends at Bannson Industries!? Why doesn’t he just send
his thugs here, too? :- Hippee
+ Don’t tempt him, Hippee. There weren’t any BI “interests” on Ozawa worth
sending ‘Mechs there over. I don’t care what his money-grubbing Lyran Lettig says,
Bannson’s only looking out for Number One. :- Kemosabe
+ I don’t know what you all have against big corps. At least Bannson’s a commoner,
not some schmuck who got money, power, and an army because he was born into it.
If he wants to carve out an empire of his own while the nobles and Clammers give
into their old hatreds, more power to him! :- RepMan
+ You’re serious? You’d give free license to build a little empire to a guy who buys
and sells people’s futures? I’ve got two words for you, RepMan: DiNapoli Industries.
I’d rather see PJEL get this one, just to give BI a reality check! :- Kemosabe
+ I’m not so sure about that, Kemo. Norne went under mainly thanks to dumping all
that jet fuel into the North Felkra Sea, but the whole problem really goes back to poor
safety standards company-wide, and PJEL wants to keep most of those responsible?
That’s courting disaster. :- Chungabunga
| January 19, 3133 |