New Eclipse CEO Addressing Refund Concerns

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Acting Eclipse CEO Roel Pieper says the company is working out the details of honoring an unknown number of $150,000 deposits made by an unknown number of position holders who balked at the latest ($500,000) price increase of the Eclipse 500. Pieper said he expects announcements to be made in “a few days” concerning alleged delays in the processing of refunds. The deposit refund issue has dominated discussion on blog and forum sites recently. Two position holders AVweb spoke with say there is real concern among those who have requested refunds and they’re hopeful a resolution is coming as quickly as Pieper said there will be. “I have to admit that I am a little nervous,” said Doug Cayne, who requested his refund about two weeks ago. Eclipse has said the requests will be processed within 30 days. Others have been waiting longer, he said.

Meanwhile, news of the abrupt departure of founder and former CEO Vern Raburn rippled through the show with most industry people we talked with puzzled over the timing and process of his removal (at Oshkosh, where companies normally try to portray themselves in the best possible light.) In a letter to Eclipse owners, Raburn said his unanticipated resignation as CEO was a condition of the release of a new round of financing by a group of investors . “I have not had any choice but to accept the terms of an agreement that provides Eclipse the first funds in a new round of financing that will take the company to a cash flow positive position,” he said. Raburn himself wasted no time in distancing himself from the buzz he created. He told AVweb he intended to leave Monday for a fishing trip in Idaho with friends.

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