AIA & Defense Execs Stand Strong Against Sequestration

BRENTWOOD, N.Y. - Jan. 23, 2014 - PRLog -- While the government shutdown has ended -- at least temporarily -- and the debt ceiling has been
extended, sequestration has certainly not gone away. The second round of sequestration will begin
in January of 2014 and its cuts will last through 2023 unless it is repealed. For the Aerospace
Industries Association (AIA) and many of its defense executive members, sequestration continues
to be a front-and-center issue which they have been tackling head-on in recent months.
Last month, CEOs of small and medium-sized businesses such as the Harry Krantz Company met
with Congressional leadership to outline how the sequestration is impacting the supply chain. This
week, Harry Krantz CEO Jeff Krantz was among 100 CEOs joining a teleconference led by AIA
Chairman & Northrop Grumman Corporation CEO Wes Bush, in which they discussed the current
fiscal crises and the strategy needed to make continued outreach to elected officials to help
eliminate or reduce the effects of sequestration. In addition, the AIA talked about its Second to
None website that continuously provides updates on the sequester and how it relates to the
aerospace and defense industry.
According to an AIA supply chain survey, 88% of companies have been affected by budget cuts
during the past two years, with the top impacts including reduced sales, profits and production
levels; contract postponements and cancellations; hiring freezes; and employee layoffs.
“The AIA’s spearheading has allowed small businesses like ours to have a voice,” said Jeff Krantz,
Harry Krantz CEO. “We are not just one company trying to put a stop to a problem affecting our
industry. By working with several similar businesses on this issue, we’ve become a core
representation in this all-important dialogue.”
Harry Krantz’s participation in AIA activities will continue to elevate in the coming year as Mr.
Krantz will serve on the association’s SMC Board of Managers, beginning in January 2014.