Calhoun All Hands Meeting on June 7 (4pm PST - 5:30pm PST)
This meeting starts at 7pm for those on the East Coast. This doesn't make sense.
15 replies (most recent on top)
Boeing last new airplane, the 787, was many years late, way over budget to the point of not ever breaking even and is still dealing with endless manufacturing issues. Boeing's upgrade of the 737 didn't go very well... Boeing's upgrade of the 777 is many years late and likely will be canceled as FAA has levied certification requirements that likely can be accomplished given the high risk folding wing tip design. Sad but true, Boeing no longer has the talent required to successfully design and manufacturing aerospace products...and would be wise to just get out of this business.
So just more bs and cheap talk to hype stock for his severance package.
Callahan was trying to convince the investors that Boeing has a plan for a new airplane in the works. Reality is Boeing doesn’t have cash to make payroll next month much less fund a new airplane program.
Not sure if it was motivated by the enormous attrition. Boeing and Calhoun was trying to convince employees to stay and right the ship with the carrot of a future plane coming down the pipe.
Any news about the meeting? What did they say?
How could Boeing finance a New program now? They couldn’t finance a new program when they were making money every quarter on the 787. they have not made money since the second 737 max crash.
It will be some kind of outsourcing collaboration with a foreign country to outsource more jobs.
Or some kind of restructuring on the Defense side where they’re going to stop production on a number of legacy programs.
New Airplane announcement tomorrow?
Right, Boeing is now stuck selling stuff for less than it costs them to create them. For years Boeing has been selling off everything they can and dumping their more costly experienced and knowledgeable workers for lower cost workers in a desperate attempt to stay afloat. Things will only get worse until the end is reached. Hopefully the government won't waste money bailing Boeing out as there are now far better US companies to invest in.
Boeing Ridley is down to 20 Chinooks a year! Looks like it's closing to me.
Management does not have a clue what to do. More Layoffs.
Given Boeings financial problems their only solution usually is to outsource more work to a third world country where they pay a fraction of the US wages. After outsourcing HR and accounting not sure who is next.
Given how outsourcing the engineering to Russia backfired, you would think they might’ve learned their lesson, but seems doubtful.
I know they tried to open up a design center in Brazil hiring Embraer engineers, but not many people were interested given Boeing‘s reputation as an employer.
I know BDS was promising to outsource a bunch of F15 jobs but India chose the cheaper F16 instead.
The other possibility is they’re going to announce closing Both the F-15 an F-18 assembly lines, and layoff bunch of people which seems likely.
Need to do to do the same thing in Philadelphia with the legacy helicopter programs. Close the assembly line and lay off the workers.
Boeing solution historically has always been to layoff people when they’re having financial problems.
The good news is most of these employees will have no problem, finding another job in aviation at a different company where they’ll be treated better.
He is going to wait until we are all off work so that we can have a drink 🥃 in our hand when he gives us the bad news.
Maybe the long awaited bankruptcy announcement? Boeing has been selling stuff for far less than they can deliver for several years now. Their entire airplane backlog is now negative +10% profit margin per my neighbor finance director who left Boeing recently. Maybe the illusion of still being a player can no longer be maintained?
Cartoon of Boeing’s laughable X32 Fighter
https://www.google.com/url?sa=i&url=https%3A%2F%2Fdezzoi.tumblr.com%2Fpost%2F167529805885%2Fif-anything-was-the-happy-dog-fighter-it-was-the&psig=AOvVaw0Se1DEmD1HeTYWVXamQkBb&ust=1684589084170000&source=images&cd=vfe&ved=2ahUKEwjG7vPAvYH_AhW4AzQIHccCAzgQjRx6BAgAEAw
========================================
The Max Fraud
http://www.bullshift.net/data/images/2020/07/wordpress-mcfadden-2.png
Boeing can’t buy Spirit Aerosystems because Spirit Aerosystems has too many partnerships working directly with Boeings competition like airbus, Grumman, vought etc. Spirit would have to spin off of their commercial division, and given they build a section of an airbus airplane not likely.
No doubt Boeing would love to sell their defense business but, Nobody would buy it. They have nothing but mainly legacy program’s that are soon to stop production.
Every major defense program over the last 20 years Boeing has lost. They’ve lost too many new programs to make it viable for another program.
Boeing has had one quarter since the 737 max crash they showed a profit. A lot of stock analyst are recommending sell Boeing stock as a result. There’s gonna be some major changes at Boeing and not in a good way.
I suspect some kind of announcement where they’re planning to open up a large engineering design center in Brazil or India, etc. Boeing‘s solution to everything is to pay people less and lay people off.
Rumor 1 - Boeing to buy Spirit AeroSystems (bad move)
Rumor 2 - Boeing to sell its Boeing Defense unit (better move)
Who cares about Boeing anymore.