F-35's economic plan (ponzi scheme) isn't working out for Italy...

Thanks to Gerald for the link!

via Defense Aerospace.

The roll-out of the first Short Take Off and Vertical Landing (STOVL) “B” variant of the Lockheed Martin F-35 Joint Strike Fighter is an apt time to look back, and compare what Italy was promised in terms of work with what it is actually getting.

Since earlier this year, when Italian officials first began publicly complaining of major shortfalls in promised F-35-related work, it has been clear that
Lockheed Martin and the Joint Program Office have not lived up their promises; but few anticipated that the situation was as bad as it is.

For example, Guido Crosetto, the head of Italian aerospace and defense industry association AIAD, told Defense News Feb. 10 that “the U.S. ‘had not honored promises’ made since Italy joined the program, hurting Italian firms as well as threatening the livelihood of Italy’s fledgling F-35 maintenance center.”

Crosetto also said that Italy was told its workshare would likely reach around 65 percent of its investment, but that “Today we are at less than 20 percent.” 

Story here. 

This.  This part of the F-35 story has never been dug into but has always puzzled me.

How can you have so many different suppliers in so many different countries, producing parts for a sophisticated airplane, and then setup another production facility overseas....and claim to be exercising maximum cost discipline?

The whole scheme, the whole ponzi scheme defied common sense business practices.

The Italians are the first to howl but I expect screams from Japan to hit soon too.

This program defies all logic and every ounce of anyone's common sense.