Seven people who represented high rollers or were themselves high rollers patrolled the aisles of the National Business Aviation Association convention in Orlando this week looking for companies to buy. I met one of them at breakfast. His particular area was aircraft manufacturers and he said the others represent avionics buyers and other specialties. He wore a badge naming him an official of a firm that does not employ him. I checked later and found he was a guest
of that firm’s CEO. I didn’t determine whether he was working in conjunction with the other six buyers or just working for himself.
I mentioned this to a woman staffing an exhibit for a small firm that builds infrared cockpit displays for aircraft. Five months ago during an aerospace show a seemingly hot prospect made an appointment with her for a briefing on the firm’s products. After she finished her presentation he said, “Now I can make you an offer for your company.” She explained she was an employee, and selling the firm out from under her boss did not sound like a good idea. She later called the owner and said, “I think I just sold your company.” The offer was rejected.
Tags: NBAA convention, recession