Not exact matches
Important factors that could cause actual results to differ materially
from those reflected in such forward - looking statements and that should be considered in evaluating our outlook include, but are not limited to, the following: 1) our ability to continue to grow our business and execute our growth strategy, including the timing, execution, and profitability of new and maturing programs; 2) our ability to perform our obligations under our new and maturing commercial, business aircraft, and military
development programs, and the related recurring production; 3) our ability to accurately estimate and manage performance, cost, and revenue under our
contracts, including our ability to achieve certain cost reductions with respect to the B787 program; 4) margin pressures and the potential for additional forward losses on new and maturing programs; 5) our ability to accommodate, and the cost of accommodating, announced increases in the build rates of certain aircraft; 6) the effect on aircraft demand and build rates of changing customer preferences for business aircraft, including the effect of global
economic conditions on the business aircraft market and expanding conflicts or political unrest in the Middle East or Asia; 7) customer cancellations or deferrals as a result of global
economic uncertainty or otherwise; 8) the effect of
economic conditions in the industries and markets in which we operate in the U.S. and globally and any changes therein, including fluctuations in foreign currency exchange rates; 9) the success and timely execution of key milestones such as the receipt of necessary regulatory approvals, including our ability to obtain in a timely fashion any required regulatory or other third party approvals for the consummation of our announced acquisition of Asco, and customer adherence to their announced schedules; 10) our ability to successfully negotiate, or re-negotiate, future pricing under our supply agreements with Boeing and our other customers; 11) our ability to enter into profitable supply arrangements with additional customers; 12) the ability of all parties to satisfy their performance requirements under existing supply
contracts with our two major customers, Boeing and Airbus, and other customers, and the risk of nonpayment by such customers; 13) any adverse impact on Boeing's and Airbus» production of aircraft resulting
from cancellations, deferrals, or reduced orders by their customers or
from labor disputes, domestic or international hostilities, or acts of terrorism; 14) any adverse impact on the demand for air travel or our operations
from the outbreak of diseases or epidemic or pandemic outbreaks; 15) our ability to avoid or recover
from cyber-based or other security attacks, information technology failures, or other disruptions; 16) returns on pension plan assets and the impact of future discount rate changes on pension obligations; 17) our ability to borrow additional funds or refinance debt, including our ability to obtain the debt to finance the purchase price for our announced acquisition of Asco on favorable terms or at all; 18) competition
from commercial aerospace original equipment manufacturers and other aerostructures suppliers; 19) the effect of governmental laws, such as U.S. export control laws and U.S. and foreign anti-bribery laws such as the Foreign Corrupt Practices Act and the United Kingdom Bribery Act, and environmental laws and agency regulations, both in the U.S. and abroad; 20) the effect of changes in tax law, such as the effect of The Tax Cuts and Jobs Act (the «TCJA») that was enacted on December 22, 2017, and changes to the interpretations of or guidance related thereto, and the Company's ability to accurately calculate and estimate the effect of such changes; 21) any reduction in our credit ratings; 22) our dependence on our suppliers, as well as the cost and availability of raw materials and purchased components; 23) our ability to recruit and retain a critical mass of highly - skilled employees and our relationships with the unions representing many of our employees; 24) spending by the U.S. and other governments on defense; 25) the possibility that our cash flows and our credit facility may not be adequate for our additional capital needs or for payment of interest on, and principal of, our indebtedness; 26) our exposure under our revolving credit facility to higher interest payments should interest rates increase substantially; 27) the effectiveness of any interest rate hedging programs; 28) the effectiveness of our internal control over financial reporting; 29) the outcome or impact of ongoing or future litigation, claims, and regulatory actions; 30) exposure to potential product liability and warranty claims; 31) our ability to effectively assess, manage and integrate acquisitions that we pursue, including our ability to successfully integrate the Asco business and generate synergies and other cost savings; 32) our ability to consummate our announced acquisition of Asco in a timely matter while avoiding any unexpected costs, charges, expenses, adverse changes to business relationships and other business disruptions for ourselves and Asco as a result of the acquisition; 33) our ability to continue selling certain receivables through our supplier financing program; 34) the risks of doing business internationally, including fluctuations in foreign current exchange rates, impositions of tariffs or embargoes, compliance with foreign laws, and domestic and foreign government policies; and 35) our ability to complete the proposed accelerated stock repurchase plan, among other things.
Such risks, uncertainties and other factors include, without limitation: (1) the effect of
economic conditions in the industries and markets in which United Technologies and Rockwell Collins operate in the U.S. and globally and any changes therein, including financial market conditions, fluctuations in commodity prices, interest rates and foreign currency exchange rates, levels of end market demand in construction and in both the commercial and defense segments of the aerospace industry, levels of air travel, financial condition of commercial airlines, the impact of weather conditions and natural disasters and the financial condition of our customers and suppliers; (2) challenges in the
development, production, delivery, support, performance and realization of the anticipated benefits of advanced technologies and new products and services; (3) the scope, nature, impact or timing of acquisition and divestiture or restructuring activity, including the pending acquisition of Rockwell Collins, including among other things integration of acquired businesses into United Technologies» existing businesses and realization of synergies and opportunities for growth and innovation; (4) future timing and levels of indebtedness, including indebtedness expected to be incurred by United Technologies in connection with the pending Rockwell Collins acquisition, and capital spending and research and
development spending, including in connection with the pending Rockwell Collins acquisition; (5) future availability of credit and factors that may affect such availability, including credit market conditions and our capital structure; (6) the timing and scope of future repurchases of United Technologies» common stock, which may be suspended at any time due to various factors, including market conditions and the level of other investing activities and uses of cash, including in connection with the proposed acquisition of Rockwell; (7) delays and disruption in delivery of materials and services
from suppliers; (8) company and customer - directed cost reduction efforts and restructuring costs and savings and other consequences thereof; (9) new business and investment opportunities; (10) our ability to realize the intended benefits of organizational changes; (11) the anticipated benefits of diversification and balance of operations across product lines, regions and industries; (12) the outcome of legal proceedings, investigations and other contingencies; (13) pension plan assumptions and future contributions; (14) the impact of the negotiation of collective bargaining agreements and labor disputes; (15) the effect of changes in political conditions in the U.S. and other countries in which United Technologies and Rockwell Collins operate, including the effect of changes in U.S. trade policies or the U.K.'s pending withdrawal
from the EU, on general market conditions, global trade policies and currency exchange rates in the near term and beyond; (16) the effect of changes in tax (including U.S. tax reform enacted on December 22, 2017, which is commonly referred to as the Tax Cuts and Jobs Act of 2017), environmental, regulatory (including among other things import / export) and other laws and regulations in the U.S. and other countries in which United Technologies and Rockwell Collins operate; (17) the ability of United Technologies and Rockwell Collins to receive the required regulatory approvals (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the merger) and to satisfy the other conditions to the closing of the pending acquisition on a timely basis or at all; (18) the occurrence of events that may give rise to a right of one or both of United Technologies or Rockwell Collins to terminate the merger agreement, including in circumstances that might require Rockwell Collins to pay a termination fee of $ 695 million to United Technologies or $ 50 million of expense reimbursement; (19) negative effects of the announcement or the completion of the merger on the market price of United Technologies» and / or Rockwell Collins» common stock and / or on their respective financial performance; (20) risks related to Rockwell Collins and United Technologies being restricted in their operation of their businesses while the merger agreement is in effect; (21) risks relating to the value of the United Technologies» shares to be issued in connection with the pending Rockwell acquisition, significant merger costs and / or unknown liabilities; (22) risks associated with third party
contracts containing consent and / or other provisions that may be triggered by the Rockwell merger agreement; (23) risks associated with merger - related litigation or appraisal proceedings; and (24) the ability of United Technologies and Rockwell Collins, or the combined company, to retain and hire key personnel.
But the potential disbursement of funds through an arm of SUNY Polytechnic comes as
economic development projects throughout the state are coming under scrutiny
from federal investigators over how
contracts are awarded.
The gist of our testimony was that the legislature should not appropriate any new funds for discretionary
economic development programs until there are major transparency and accountability reforms, including a Database of Deals, Clean
Contracting reforms and restrictions on campaign contributions
from state -LSB-...]
He announced a day after the criminal charges were filed against his associates that he's yanking all
contract authority for
economic development projects
from SUNY Poly and giving it to his own
economic development agency.
Berky, who recuses herself
from all votes involving RUPCO because she has done
contract work for the nonprofit, said that she believed the county had made a mistake in transferring the property to the Ulster County
Economic Development Agency for marketing and sale rather than putting it through the open bidding process normally required of county - owned properties.
Instead, the cost of operating the IDA is paid primarily by those businesses that benefit
from the
economic development services they receive: the ECIDA collects fees
from the businesses we enter into
contracts with.
The comptroller was removed
from oversight of some of the
economic development contracts, including the Buffalo Billion, that became a target of federal prosecutors.
Percoco earlier this year was convicted of federal corruption charges that stemmed
from efforts to secure
economic development contracts in exchange for bribes and a low - show job for his wife.
Then in April came that totally unexpected flurry of subpoenas
from U.S. Attorney Preet Bharara's office, directed at Cuomo's executive chamber, broadening the ongoing inquiry into Cuomo's signature
economic development scheme, the Buffalo Billion, and subsequently into a range of
contracts and arrangements with other companies doing business with the state.
In 2011 Cuomo and the legislature passed a law to stop the state comptroller
from reviewing
contracts for
economic development projects that are now the focus of a federal probe by Bharara's office.
On Thursday, the Legislature's
Economic Development Committee approved a proposed
contract amendment that would increase the county's commitment
from the original $ 149,900 up to $ 215,000.
A second trial, centering on alleged bid - rigging of state
economic development contracts by the Syracuse executives, former SUNY Polytechnic Institute president Alain Kaloyeros, and real - estate executives
from Buffalo, is scheduled for June.
The gist of our testimony was that the legislature should not appropriate any new funds for discretionary
economic development programs until there are major transparency and accountability reforms, including a Database of Deals, Clean
Contracting reforms and restrictions on campaign contributions
from state vendors.
The package of 11 bills covered everything
from campaign contributions to state
contracting processes including a Database of Deals for
economic development projects.
Meanwhile, a former close aid of Gov. Andrew Cuomo's, Joe Percoco, will be on trial in January, facing bribery charges stemming
from economic development contracts.
U.S. Attorney Preet Bharara's office is investigating
contracting in the
economic development program as well as former Cuomo aide Joe Percoco, who reported in a financial disclosure form he received payments from two companies linked to state contracts, COR Development and CHA
development program as well as former Cuomo aide Joe Percoco, who reported in a financial disclosure form he received payments
from two companies linked to state
contracts, COR
Development and CHA
Development and CHA Consulting.
An array of figures
from Gov. Andrew Cuomo's inner circle — including a confidante so close the governor called him «my father's third son» — got slapped with a sweeping 14 - count federal indictment today, which alleges they colluded in a pair of schemes to solicit bribes for state assistance and to rig
economic development contracts for companies that gave to Cuomo's campaigns.
He says he's heartened by statements
from the Senate Republican Majority Leader, John Flanagan, who says he wants to closely reexamine all
economic development contracts.
Among the ideas excluded
from any final budget deal: creation of a database that the public could search for how much every recipient of
economic development spending got and how many jobs they created; end the ability by limited liability companies to skirt campaign donation limits; give back certain
contract pre-approval powers to the state Comptroller, the state's fiscal watchdog; strengthen the state's criminal laws to better define bribery of public officials; and create an independent watchdog agency to police ethics issues in Albany.
Howe is a registered lobbyist of a major Buffalo Billion developer, Syracuse - based COR
Development, and Percoco is being investigated for making between $ 70,000 and $ 125,000 from two development companies, Clough, Harbour & Associates of Albany and COR Development, both of whom received state contracts on upstate economic developmen
Development, and Percoco is being investigated for making between $ 70,000 and $ 125,000
from two
development companies, Clough, Harbour & Associates of Albany and COR Development, both of whom received state contracts on upstate economic developmen
development companies, Clough, Harbour & Associates of Albany and COR
Development, both of whom received state contracts on upstate economic developmen
Development, both of whom received state
contracts on upstate
economic developmentdevelopment projects.
Ron Deutsch, executive director of the Fiscal Policy Institute, joined Alex Camarda, Senior Policy Consultant at Reinvent Albany, and Jennifer Wilson
from the League of Women Voters, on Capital Tonight to discuss the «clean
contracting» bill, which would require transparency of
economic development projects.
The state would not release its list of recusals for the current round of funding, saying in its rejection of a Freedom of Information Law request that «all aspects of pending applications, including information about recusals by members of the Regional
Economic Development Council, is exempt
from disclosure as it contains information that «if disclosed would impair present or imminent
contract awards.»»
The shift of
economic development projects from under SUNY - affiliated nonprofits to Empire State Development, which can be audited by the comptroller's office, is a key step, and ESD, a public authority, has modified its own contracting protocols based on recommendations by state - contracted consultants from Guidepost
development projects
from under SUNY - affiliated nonprofits to Empire State
Development, which can be audited by the comptroller's office, is a key step, and ESD, a public authority, has modified its own contracting protocols based on recommendations by state - contracted consultants from Guidepost
Development, which can be audited by the comptroller's office, is a key step, and ESD, a public authority, has modified its own
contracting protocols based on recommendations by state -
contracted consultants
from Guidepost Solutions.
Last week, under pressure
from some climate - change activists, the University of Western Australia canceled its
contract to host a planned research center, Australia Consensus, intended to apply
economic cost - benefit analysis to
development projects — giving policy makers a tool to ensure -LSB-...]
Dr Manley Begay Jr, of the Native Nations Institute for Leadership, Management and Policy (NNILMP)(70) has noted that the systematic evidence arising
from the self - governance project makes it clear that «
contracting and compacting» has been successful in both promoting
economic development and enhancing tribes» experience in the business of self - governance.