Well, INVN is going higher, no idea how much, I agree with you, we are in lala price land, but here is another reason I originally bought>
Congress declared last month that every major airport must have enough screening machines to search all checked luggage for explosives. Lawmakers set an ambitious deadline of Dec. 31, 2002, for the mandate to be fulfilled. But the new Aviation and Transportation Security Act doesn't set aside any money solely for that purpose.
Congressional staffers say large sums for the machines may not be available until the federal government's 2003 fiscal year, which begins in October 2002. President Bush is scheduled to announce his 2003 budget request early next year.
The machines use a combination of X-rays and CAT-scan technology to scrutinize narrow slices of each bag.
The Federal Aviation Administration estimates that it will need to purchase more than 2,000 machines. As big as a pickup, they cost roughly $1 million each.
At a recent congressional hearing, Steve Zaidman, an FAA associate administrator, said installation of the machines will cost $4 billion to $5 billion. But industry experts and FAA sources said the actual cost could be tens of billions of dollars.
Lawmakers did not commit any funding specifically for the screening machines, not even in the bill that made the devices mandatory. Experts point to several possible sources of money:
A post-Sept. 11 emergency bill allots $86.5 million for security equipment. The president has asked for $108.5 million more. Legislation on his request is pending. Congress is expecting a request for yet more money early next year.
A spending bill Congress passed to fund the FAA and other transportation agencies provides another $97 million. President Bush hasn't signed the bill.
The Security Act calls for a fee on airline passengers of up to $5 per one-way flight. But much of this money is likely to be used to hire federal personnel to screen bags and passengers.
Officials at the two companies that make the machines say there's no way they'll be able to meet demand unless they start ramping up production soon.
Yet "we can't begin large-scale production without a commitment in funds," says Rick Muntz, a vice president with manufacturer InVision Technologies.
Since Sept. 11, InVision has gotten more orders from foreign buyers than from the U.S. government, Muntz says. Some U.S. airports he declined to identify have bought the machines directly, bypassing the federal government, he said.
"Until you put together a plan and you put together the funds, it isn't going to happen," said an executive with one firm that makes explosive detection machines.
Prior to the attacks, InVision and L-3, the other manufacturer, were each making about five machines per month.
Officials in Washington say large sums may not be needed this year.
"The department is in the process of putting together a couple different options for achieving the (law's) goals," said Amy Call, spokeswoman for the White House Office of Management and Budget.
Others argue that there's no way the machine's manufacturers will be able to fill demand. So funding, they say, won't be the main obstacle to adhering to the law.
"That's something Congress is going to have to revisit next year — the logistics of getting 100% screening a year from now with that equipment," says Bill Hoagland, budget director for the Senate Budget Committee.
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All I can say is we were in this stock early & cheap, and that is the only way to invest. And the cost to ratdogfollowers was zero/zippo/nada/free/////////
My options are now gaining at an exponential rate, and I would like th thank those persons who were dumb enough to write those calls ;-> |
