A great lesson in how to buy successful companies.......
Pros: great goals to move up in the "food chain" of aerospace suppliers...
Cons: .....matched only by the total incompetence of how to realize those goals
......and run them straight into the ground.
From LMI's website:
"What makes LMI different? Unlike some manufacturers who simply "ride the tide" of the industry, hiring when business is booming and down-sizing when the economy tightens up, our focus is on long-term success. We seek strategic, long-term business relationships with our customers; a balance of industry sectors (commercial, business and regional, and defense); and selective domestic and international suppliers to help ensure our viability in a highly cyclical industry. We take pride in the longevity of our workforce, our goal of job security, and the contributions we make to our communities.
Ask any of the (past) professionals at the formerly successful D3 Technologies, (a 2011 Boeing Supplier of the Year), how much pride LMI takes in the "longevity of our workforce", and their "focus on long term success".
The Everett, WA office alone collapsed from over 120 employees less than two years ago to less than 24 today, with virtually the entire long-term management of the former D3 Technologies Everett office voluntarily resigning.
And D3 is but one example of LMI's "success" in it's recent acquisitions. Bravo....bravo.