SSH-ers In San Diego

[lwaldron]

Hello--

 

My name is Les Waldron. I'm an assignment editor at KFMB-TV News, Channel 8, in San Diego, CA. We're hoping to follow up on the story of the helicopter flight students who got shafted when Silver State went out of business.

If you guys are having meetings, or have info that you'd like to share with the media, we're interested.

You can respond to this forum post, or, if you'd prefer, you can email me directly at lwaldron@kfmb.com.

 

Les

[helifool]

Hello--

 

My name is Les Waldron. I'm an assignment editor at KFMB-TV News, Channel 8, in San Diego, CA. We're hoping to follow up on the story of the helicopter flight students who got shafted when Silver State went out of business.

If you guys are having meetings, or have info that you'd like to share with the media, we're interested.

You can respond to this forum post, or, if you'd prefer, you can email me directly at lwaldron@kfmb.com.

 

Les

 

You may want to try http://www.silverstatefamily.com/

[fry]

Hello--

 

My name is Les Waldron. I'm an assignment editor at KFMB-TV News, Channel 8, in San Diego, CA. We're hoping to follow up on the story of the helicopter flight students who got shafted when Silver State went out of business.

If you guys are having meetings, or have info that you'd like to share with the media, we're interested.

You can respond to this forum post, or, if you'd prefer, you can email me directly at lwaldron@kfmb.com.

 

Les

 

Be sure you include the essential element of the story; Airola did not put any significant money into SSH, it all came from the students' advanced loan funds. Those loan monies bought the almost 200 aircraft, real estate and other assets that SSH owned. While those loan monies...basically borrowings from the students...are shown in SSH's bankruptcy filing as a liability of unknown amount they probably total about $30 million.

 

In additon to buying the assets, Airola blew threw all of the students' advanced loan funds and then borrowed $33 million from Orix Financial and blew threw that money in just six months. The $33 million loan is secured by the assets...the assets that the student loans bought...and now there is nothing left for the students.

 

Airola and Eos gambled and lost $33 million using the student purchased assets. SSH cost Airola nothing. It also may have cost Eos nothing unless you believe that sophisticated investors paid Airola $30 million for 60% of the company just six months before it ran out of cash.

 

Where did the $33 million from Oirx go? Was it all spent in just six months? How much of it went to Orix and Eos in fees? How much went to Airola and his CFO? Why can Airola transfer the company headquarters location...purchased and improved with student loan money and having estimated equity of $2.5 million...to a company owned by himself and his CFO just six months before the company goes belly up.

 

Probably too complicated a story for a two minute fluff piece.

[Fiasco]

Love to hear about how Airola is going to be pursued to the full extent of the criminal law

[DEMO]

Love to hear about how Airola is going to be pursued to the full extent of the criminal law

 

I would hope so, but most of those guys get little of what they deserve. Enron comes to mind......

[fry]

Posted at JH:

 

Notice of resignation and response request

 

From: navycmdr@aol.com

To: jerry-airola@silverstatehelicopters.com

Cc:rick-reyes@silverstatehelicopters.com,joel-banks@silverstatehelicopters.com, perry-eaton@silverstatehelicopters.com, angi-brewer@silverstatehelicopters.com,hr@silverstatehelicopters.com

 

Date: Sat, 17 Nov 2007 7:25 am

 

Dear Jerry Airola,

CEO Silver State Helicopters and/or HR to whom it may concern:

 

I want to make it very clear why I felt compelled to give my two week notice of resignation and leave my position as

General Manager of the Silver State Helicopters, LLC San Diego Flight Academy. I request an investigation and/or

response based on the following:

 

I have been very proud to be a Silver State employee and have expressed that fact on my car, to my friends, family

and associates. As you know, I have performed valuable services for Silver State, and my performance and credentials

are well known to you. I appreciate/appreciated my working relationship with you, and looked forward to ultimately

flying as we discussed in the past when your commercial flying unit became established, and I still look forward to that

day.

 

However, I had to give my notice because I feel that I was being made party to perpetrate an illegal/immoral fraud

on each of the Silver State Flight students who have paid $5,000 for Turbine Transition Training and $1,000 for

Vertical Reference Training that has not been provided to them to receive as part of their now expired 18-month

Training Services Agreement contract. There are nearly 80 students in San Diego that are beyond their 18 month

contract time limit. Some are only a few weeks beyond their contract. But in the past 11 months in San Diego,

Turbine Transition Training has NOT been provided or made avail at all and Vertical Reference Training has only

been available one time to only a very few students.

 

This was/is a fraud on the students. The fault lies with Silver State, not the students.

 

I could not look these students in the eye and tell them they would now be required to sign a new Training Services Agreement and "forfeit" what they had paid $5,000 for and had not received through no fault of their own, something

the company guaranteed to provide them verbally and in writing, but did not.

 

While I am not a lawyer, it seems to me that you cannot forfeit something that is a contractual right and promised

to you. I have spent many sleepless nights worrying about this issue.

 

When I specifically asked Rick Reyes with questions in writing about the Turbine Transition and Vertical Reference

Training that was not provided and the actions of the company I am describing here, I was replied to the questions

that the students have "forfeited" that expensive training (or money paid for that training) even though the newly

proposed Training Services Agreement you have asked me to require each of them sign will not provide for or an

equivalent amount of training. Also that if the students do not sign the new Training Services Agreement that they

will forfeit any additional flight training.

 

This is unconscionable as the students will feel they have no choice, since they all want to work for Silver State,

and so they will feel they have no legal options but to agree.

 

In the past, despite being well beyond their 18-month Training Services Agreement the students were allowed to

turn in their Turbine Transition Training for an equivalent amount of other flight training hours so I felt that was

a fair and honest way of concluding the contract. The new policy is I feel illegal, immoral, and unconscionable and

a fraud on the students, as there is no equivalent training provided, and the money and/or training is just "forfeited"

which no forfeiture that I can see provided in the contract with the students, particularly since we did not provide the services promised!

 

If Silver State was willing to refund or provide an equivalent dollar amount of flight training to the students in fairness,

or if there is something I overlooked I would be happy to continue my employment. But I cannot in good conscience

perpetuate a fraud or be a party to it, and I feel that any reasonable person would feel this way also and I hope you

agree with me and do the right thing.

 

I look forward to hearing from you, and thank you for your consideration.

 

Ronald B. Luhmann

Commander U.S.N. retRon Luhmann

navycmdr@aol.com

[Dave in Sac.]

And don't forget, the 2500+ that got stung in the end is only the tip of the iceberg, this guy has left a wide path of devastation throughout this venture, possibly thousands more than you think.

How much of THAT cash found it's way into an offshore account?