Russa HAAS

[Rstewart]

https://united24media.com/war-in-ukraine/us-penalizes-an-american-company-with-a-first-ever-fine-for-cnc-machine-exports-to-russia-5499

[CNCAppsJames]

https://united24media.com/war-in-ukraine/us-penalizes-an-american-company-with-a-first-ever-fine-for-cnc-machine-exports-to-russia-5499

A little background in CNC Machine Tool Sales world. When a machine is built, it is owned by the builder. When it is stored prior to sale off the builder's property or legal holding area it is held iessentially in bond (many CNC Machines that come from asia are held in bond at Premier in Long Beach California). IOW it has no technical owner at that moment.

Once a sale is made, ownership is transferred and reported to either the State Dept. or the Dept. of Commerce and listed in the UCC (Universal Commercial Code) filings. I forget which. When a dealer/importer makes an order, the date the PO is issued and the machine is built, and it leaves the factory it is theirs. NOT the builder's. So let's say I built a CNC machine today. I sell it tomorrow overseas. The day the PO was issued all was good. No restrictions. Place it's going is not on the list. I ship it and while it's on the truck, SHTF and now it's no longer legal to make the sale. Am I in the clear? Depends. Depends on how much the governemnt has a hard-on for me. See where I'm going with this?

That said, this is relatively old news. The skinny. Haas sold parts to their dealer/importer mentioned in the article prior to the invasion. The government has a hard-on for Gene for some reason so they gonna stick it to him. They probably feel like jail and the fine for him committing fraud wasn't enough flesh so they are coming back for another bite. It's a slow news day and some intern found this and decided it wasn't sufficiently reported a few months into the Ukraine invasion.

#SHINY

JM2CFWIW