I worked for Boeing for over 40 years. In that time the company had its ups and downs but it was always able to overcome the problems and keep on going. Things look pretty
grim right now. I just hope that the situation changes and the company can get
back on top again. It used to be a big icon in our state and I hope that it will continue to
overcome this bump in the road. Best wishes for a safe and happy landing for all!!
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Reading the comments, who knew there were so many K-clan-K-men-K there... frown
All things have been relative at Boeing for a long time. If you are not a relative, you are nothing at Boeing. And Boeing is now nothing more than a manipulated Wallstreet stock with little significant future.
It's nowhere near the company it was 40 years ago; the only thing that remains the same is the name. The company is almost exclusively focused on shareholder profits, executive bonus structures, cheap labor/benefits, and implementing a woke ESG agenda designed to drive out their older, white, heteros-xual male workforce. Taken together, nobody should be surprised the company is falling apart and frankly, it doesn't deserve to succeed. Don't believe me? Go visit Boeing.com, click on Sustainability (ESG), then click on Global Diversity Equity and Inclusion to see for yourself what they've been up to.
Successful tech companies have always had techies as CEO. Boeing CEO and most of their leadership don't even have a basic engineering degree. And none of them have any real engineering experience or professional engineering license to prove they do. Sad.
Boeing has been in a position where they tried to cut or offshore jobs for greater profit. Now Boeing must cut or offshore jobs to survive. Good Luck to everyone Friday.
40 years ago Boeing had great people passionate about engineering and not interested in business management. Profits and stock price were low but the people made a decent wage doing what they loved. Those days and those people are long gone.
I don’t think Boeing will have the money to finance a new clean sheet airplane design. They’ve had 2 quarters that were profitable since the 737 max crashes and that’s it.
If you dig into the details, of their financial problems they had to lower the price of new airplanes to the point that they no longer make money selling them. They believe they can become profitable by increasing the production rate. With new employees who have no experience? And how do you can increase production when your sales versus airbus continue to decline?
The 737s not compete well against the A320 series They have mismanaged the company where they are now losing money every quarter.
The priority since Jim McNerney has been executive bonuses from stock options instead of product development. Boeing desperately needed a a 737 replacement to compete against the airbus 321 but McNerney chose instead to spend $50 billion on stock buybacks. That’s why Boeing is where its at now.
I don’t know how you recover from that kind of misstep. You wasted money for 10 years on stock buybacks instead of product development, all in the name of executive bonus. There’s no going back.