And Without Giving Taxpayers Anything in Return
https://www.esquire.com/news-politics/a32314911/boeing-60-billion-bailout-coronavirus-737-max-equity-stake/
- It's a familiar story in the America
Brought to you by Ronald Reagan.
Boeing secures more in government contracts every year, more than almost
any other firm.
In 2017, for instance, Boeing pulled down $23.4 billion in taxpayer cash,
second only to Lockheed Martin's $50 billion.
That looks like a steal when you look at what we get for that Lockheed money
Namely, the F-35 Flying Dunce Cap—
But it's just one segment of Boeing's business. It also has contracts with
airlines foreign and domestic, which helped it bring in $100 billion in total
revenue that year.
That's also part of why Boeing is in a whole lot of trouble now:
air travel is down as much as 95 percent in the United States,
which is kiŁŁing airlines that, in turn, may pull the plug on some deals they
may have had with Boeing.
On Wednesday morning, the firm announced a $641 million loss in the
first quarter of 2020, CNBC reports, and said it has burned through
$4.3 billion in cash. Revenue dropped 26 percent from the first quarter of
last year, to just shy of $17 billion.
It will cut payroll by 10 percent, through "voluntary measures" and layoffs
in its 160,000-person workforce.
In yet another signal that the stock market has zero remaining connection
to economic reality Much Like Boeing Management
https://hips.hearstapps.com/hmg-prod.s3.amazonaws.com/images/muil-1588177855.jpg?crop=0.668xw:1.00xh;0,0&resize=768:*
Max Go Crash / Tanker Go Boom / Space Craft Go Flop
Give Boeing Money for Participating?