I reached Dick Holbert at Central Flying about news of the Aerospace Center’s demise. Holbert was a driving force in creation of the center and still a member of the board of the Arkansas Aviation Historical Society that operates the center.

In response to the question of whether a revival of the museum was likely, he said, “Realistically, I don’t think so.” Its failure is the product, he said, of “a cascade of economic bad news.”

Advertisement

He said the center had tried a number of ideas over the years that offered some glimmer of hope for increasing support — a public school, the planetarium, a venture with Pulaski Tech — but they “didn’t come to successful conclusion. We’ve just run out of ideas.”

He said the center now has nine employees, only three full-time. They’ll continue to work for the foreseeable future because “it will take a while to shut things down in an orderly fashion.”

Advertisement

Holbert said the Miller collection of aviation materials and the airplane collection likely will be liquidated to pay off outstanding debts. He said about $66,000 is owed to Regions Bank for a construction loan on a postal facility that continues to operate at the site under a lease running through 2015. Another $33,000 or so is owed to various vendors.

He said he hoped the liquidation of assets — the collection is valued on the tax form at roughly $3 million — will be sufficient to satisfy those obligations and pay off his $2.5 million in lending (a figure likely higher when 2010 books close). He confirmed my earlier reading of tax returns that he’d been advancing money to the center to cover operating losses.

Advertisement

It’s a sad decision, Holbert said. But he commented: “We’d like to think it worked for 15 years. It was a benefit to the community for 15 years, but it was just not sustainable going forward.”

50 years of fearless reporting and still going strong

Be a part of something bigger and join the fight for truth by subscribing or donating to the Arkansas Times. For 50 years, our progressive, alternative newspaper in Little Rock has been tackling powerful forces through our tough, determined, and feisty journalism. With over 63,000 Facebook followers, 58,000 Twitter followers, 35,000 Arkansas blog followers, and 70,000 email subscribers, it's clear that our readers value our commitment to great journalism. But we need your help to do even more. By subscribing or donating – as little as $1 –, you'll not only have access to all of our articles, but you'll also be supporting our efforts to hire more writers and expand our coverage. Take a stand with the Arkansas Times and make a difference with your subscription or donation today.

Previous article Aerospace Education Center to close Next article A push for prescription pot