Word: evergreen
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...Bowles is charging in a lawsuit filed last Thursday that a Boeing 747 cargo plane owned by AFX was temporarily turned into a ticking time bomb by faulty and deceptive maintenance practices. The target of the suit is Evergreen Air Center, a midsize maintenance and storage facility in Marana, Ariz...
...company is a subsidiary of the privately held Evergreen International Aviation, based in McMinnville, Ore., whose interests include airplane sales, ground logistics and freight forwarding. The Air Center has done work for America West and cargo carriers such as Atlas Air, which has the largest fleet of 747 freighters in the world. Evergreen also maintains NASA's two 747s, used to haul the space shuttles. And it is one of only a handful of prep centers for Boeing. That means new planes from Boeing's factories are sometimes stored temporarily at Evergreen, then later prepared by Evergreen workers for final...
...suit alleges that Evergreen, whose motto is "Quality Without Compromise," made multiple repair errors, failed to perform required work, charged for work never done and extorted money from Bowles' air-freight company, which is based in London and will start service to Chicago later this month. (AFX has since hired another firm to make the plane airworthy.) "Evergreen actions with regard to our airplane were a clear threat to air safety. If Evergreen is doing the same to other airlines, they may well hurt someone," Bowles told TIME. "They have to be stopped." Last week the FAA confirmed that...
...allegations against Evergreen, which has never been implicated in a major crash, may point to a wider problem in aviation maintenance. Just last week the NTSB announced that it would hold a public hearing on the crash last year of an Emery Worldwide Airlines DC-8 cargo plane near Rancho Cordova, Calif., and that the work by a third party has been a focus of that investigation. The NTSB's John Goglia, a trained mechanic and a 35-year aviation-industry veteran, is concerned about some statistics that show an increase in serious accidents with maintenance as the primary cause...
...Peru and a debt deal in Argentina last week helped volatile Latin American funds rise 2.4%. But the broader story is in Mexico, which with Brazil makes up 90% or so of the region's portfolio. Brazil's stock index is down 14% since January, but as an Evergreen manager says, "Mexico is on a tear." Its export gains and slower but solid growth will drive this fidgety sector through expected summer doldrums...