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@@stevegallagher687 My theory is most these CEOs are being paid to destroy their companies so the banksters can profit from their investments outside the US, namely China. There's no other explanation. Where's the benefits from technology? We should be driving or flying around in vehicles at half the cost and twice the quality. But no. It's all crap at 10 times the cost. Who benefits? China. KisSINginger et al.
Corporate corruption costs human lives. BOD and/or corporate compesation committees of public companies need to be held accountable for their policies and sweet contracts given to top management with negligible negotiation or competition. The shareholders won't do it; they're just along for the ride. In 2022, CEOs were paid 344 times as much as a typical worker in contrast to 1965 when they were paid 21 times. Like the stock market reforms necessitated by the 1929 crash, public companies unfortunately must be regulated in this area.
They should have had the compensation Payouts for the crashes deducted from those Golden Parachutes as a warning to future CEOs that low standards will no longer be tolerated … the clown running the company now thinks he’s doing a marvellous job … well news Flash, he could be doing much better.
@@chrisbraid2907 They shouldn't have golden parachutes in the first place. FaIr pay for your performance; if you f*ck things up, get a box, put your things in it, get out and don't let the door hit you in the ass! If you're guilty of malfeasance you stand trial.
The Douglas Santa Monica decease infested McDonnell Aircraft right after the flawed DoD forced merger and then the second flawed MacDac culture-merger with Boeing.
Isn't it neat how they practically gained a monopoly when they only cared about safety, and how they go bankrupt when they only care about money? I LOVE IT!
I'm sympathetic to the sentiment, but I can't help noting that human tumor Jack Welch, arguably the intellectual architect of corporate asset stripping, was a chemical engineer by training.
I think the OP was concentrating on planes because it's the bulk of the business but I find it tragic that they've given up on the Starliner leaving musk with a monopoly and his sugar daddy in charge in two months.
The story of Starliner is just one bizarre story after the other NASA had awarded the contract to Boeing initially because the bid was cheaper, but pretty soon they needed to reopen the contract and award it to SpaceX too because it quickly became quite obvious that the Starliner would not pan out. This was an unprecedented move by NASA or any defense contractor, but it is what saved human exploration in space There were 2 astronauts assigned to each craft to overview and give inputs on design, the contrast couldn't have been more stark. The Boeing personnel took the inputs from their astronauts as annoyances and did not incorporate them into the team or the inputs into the aircraft. SpaceX's approach was to make their astronauts a core part of the team, every decision was ran through them, since it was their lives at stake, they had real power on the craft was developed The situation got so dire that one of the Boeing astronauts straight up refused to fly on Starliner
@glockmat "it is what saved US/NASA exploration in space." Fixed that for you. The EU currently has no real space exploration program, but Russia, Japan, India, and especially China do. I otherwise agree completely with your comment.
@Shadowbannedandcensored Japan and India are colaborating with the US when it comes to HUMAN exploration, Russia isn't sending rockets to Ukraine correctly, they aint gonna send it to space If I were a betting man Id wager that China will maybe send a man to the moon, maybe built 1 or 2 space station modules and go "OMG THIS IS SO EXPENSIVE" and ask the US and Co. to let them cooperate in their program
And all the board members and executives, and those in charge who were primarily responsible for all of the deaths, walked away with no personal responsibility or liability whatsoever
This, 1,000 times this. They decided to shove bigger engines under the 737 to make the MAX without redesigning the airplane AND promised airlines that their pilots wouldn't need retraining AND hacked around the unstable plane with software on the cheap AND SO killed 346 people. Jail time for the board and CEO Dennis Muilenburg and for every division head who failed to stop this clusterf@*k!
That’s America. Why should they be held responsible? trump never was! If your president elect is considered above the law then we can all ignore the law!
Corporate greed is out of control. Gone are the days of fixed margins and returns. Now corporations demand unlimited growth in profits which leads to a lot of layoffs of key personnel and a lot of corner cutting. The result is a noticeable decrease in quality. Sucks but ok for a toaster. Deadly for an airplane.
It's a vicious cycle that's driven by capital markets. Investors demand a short term gain which is hard on an industry that numbers development cycles in decades.
Boeing needs to get out of its current business and concentrate on producing toasters. Without massive US government subsidies, Boeing would have closed shop long time ago.
@zalix512 people like you is why these companies are failing. Focused on some idiotic thing that isn't making a difference while management screws the company so they can get more bonuses. It's not DEI, it's uncontrolled greed. They are prioritizing short term profits and killing the company (ie "maximize shareholder value") They didn't fire 900 inspectors due to DEI, they did it to lower costs. The max crashing wasn't due to DEI, it was because their greed made them design a cheaper plane that required a software fix to make it work, and then they rushed development without properly testing or training pilots about it. But there are always fools out there who push their political agenda.
8000 planes flew with door bolts. Alaska Airlines was warned that the door was not secure and to not fly over water and don't let the passengers remove their seat belts. the warning light came on twice. This is all political.
@@ExploringCabinsandMines This is nonsense. The plane had flown before, the door didn't blow out, but this time it did and it was because the door, or the panel, whatever you want to call it, had not been bolted in position. NO BOLTS!!! That's why it blew out. It was a miracle that the pilots got the plane down safely. Later because of this, almost tragedy, all these planes were grounded and another two were also found to have unsecured panels, that is NO BOLTS fitted. How can you say, as an argument, that other planes didn't crash so don't exaggerate??
These are most likely penalties written into contracts for failure to deliver planes as scheduled. With hundreds of planes grounded due to the MAX fiasco and unable to complete their delivery, you can imagine how all these individual penalties would add up
I had the same thought. I see there is some defence of that, but those are arguments between those involved in designing, making, buying and selling (tickets). The passengers are completely innocent victims, whose loss, truly, cannot be quantified , but it should surely be the most egregious of all those losses.
Result of McDonnell Douglas merger which resulted in most of their executives who were MBAs taking key positions. While most Boeing managers retired and junior employees never got promoted as there were too many Douglas managers..
Let the execs that ran their company to the ground to the point where they lost their name in the "merger" take over the company that's doing great. What could go wrong?
It's so unbelievably bad that they fired their quality inspectors and then it all went wrong. It probably saved them $50m/yr and cost $50m a day when the FAA capped production because the trust was so low.
The great irony of the Air Force tanker contract is that Boeing had lost the competition to Airbus, and sued to re-open the competition. With tremendous political lobbying, Boeing won the bid the second time around. As a fixed price contract, which they are losing money on while failing to deliver a working product.
They had hoped to be able to sell this updated aircraft (767-2C) as a cargo aircraft, but that never really got off the ground, probably due to using old engines.
US government following a European model and the response when government intervention doesn't turn things around is a trade war with desperately needed trading partners
What competition is there to protect from? Outside of Boeing and Airbus, there are a few manufacuters but they make stuff like private jets or at most planes suitable for regional transport. What keeps competition out in these sectors is how expensive and hard it is to make competitive planes.
@@reubenmorris487 No, the Chinese plane makers did that. Boeing made the same sins to a lesser degree, which was part of the problem as the 747 worked well enough to be sold
I always hated stock buy backs. It really doesn't add any value to the company. It just looks pretty for the investors. Even worse, almost all buy backs happen in times when the stock is overpriced.
It was the shareholders that threw out the original Boeing managers which focused on long-term health of the company, for the MBA managment from McDonnell Douglas in the merger after MD managers had driven itself into the ground needing to be aquired, since they offered more theoretical profit via cost cutting.
Greedy incompetent Boeing Execs are still on $100m packages while engineers get screwed on $50K Airbus pays its engineers $80K and execs $1m. Compare the results.
"Cutting corners to maximize short term profits, is not in the long term interest of shareholders". Hahahahaha. Oh man. That's a good one. "Long term interests of shareholders". You got me there.
"Boeing paid out annual bonuses totaling $418 million to about 68,000 eligible employees ..." Bonuses when losing money? Here is a company in desperate need of a management overhaul.
yup, it's the bonuses that are sinking the company and not overproducing malfunctioning commercial planes and taking on a boatload of awful contracts, it's just the workers that are the problem
You have flown multiple times on a plane that has at least twice your age guaranteed. Frames have stayed fundamentally the same since the very first jetliners. Not really a problem.
How pathetic of a company do you have to be to have essentially a duopoly in the market and still struggle like Boeing? You wonder if these people are even capable of running a ice cream stand.
Checks introductory economics textbook , yep just as I remember it’s a free market not one controlled by the vendor that produces good products that make profits for the manufacturer. Adam Smith is probably laughing in his grave at this sort of company.
@@flemmingsorensen5470if you genuinely think everything the news says is true: you are brain dead. Most news companies are unprofitable and are beholden to their funders.
Data is all over the place on this. I think its mostly BS. One source says its 33% executives, another says 51 total. One source says execs make only 81% more than the average employee. So I don't trust anything at this point. You are basically free to make up anything you want.
Boeing is also very important to US Defense, so they got several things putting them in a position where people don't want them to fail - despite the issues.
Boeing has not even learned its lesson. Last week we had an all hands, where upper management was gushing about how 'automation' took their formal qualification testing down from weeks to only 3 days. So they are STILL cutting quality inspection under the idea 'automation' reduces the need for it.
@@neeneko At the same time so many US-citizens wonder why US car brands just don't sell outside of NA. Yeah, sure, the automotive industry in the US has cut costs, but they also lost competitiveness all around the world. So the US car industry is a REALLY bad example to work off of. IF they really wanted to make a comparison with the automotive industry they SHOULD look at Toyota and Honda, at two companies driven by engineers, with incentives for the line workers to find, report and fix defects, with bonuses given to those on the line that come up with improvements of any kind, companies that focus on quality. If things at Boeing don't change drastically it's IMHO a matter of time until the Duopoly of Boeing and Airbus slowly shifts more and more towards a monopoly, something even Airbus doesn't want. But with the hyper-fixation on short term gains over long term results, eternally and religiously beholden on the extra Dollar they can squeeze out of anything and anyone I don't see any end to this madness anytime soon.
@@javierpatag3609 de Havilland was the first to market with jetliner, basically ushered in the commercial jet age. A couple of their planes broke apart during flight due to cyclic fatigue of their airframe during pressurization and square windows. Boeing and McD learned from that and the rest is history.
The problem with Ground News probably is that all news it's based on is the same Western propaganda. It can't compensate for that problem. But then, that's not a problem for much of the Western world, they don't notice this, and would be upset if it was anything else. Right wing, left wing. That's small potato. when they all share the same skewed world view!
It would be nice to see the millions and millions in bonuses clawed back that those managers received who made the decisions that led to this disaster.
MBA majors are almost all Wallstreetbets users. They bought a lottery ticket for the company so they could collect a share of the winnings and blame someone else if it failed
The decision to shove bigger engines under the 737 to make the MAX instead of designing a new airplane saved $50+ billion?? Obscenely, the set of murderous decisions to use software hacks to make the unstable plane work, after management promised airlines that their pilots wouldn't need retraining, KILLED 346 people. Jail time for the board and CEO Dennis Muilenburg and for every division head who failed to stop the clusterf@*k!
And led directly to the deaths of 346 people in the two 737 MAX crashes. Jail time for the board and CEO Dennis Muilenburg and for every division head who failed to stop that clusterf@*k!
To be clear, after the 737Max crashes, most airlines did NOT cancel their orders, as this video incorrectly asserts. The huge drop shown in the graph is due to Boeing being unable to deliver grounded 737 aircraft, plus the effects of the onset of the COVID pandemic.
I’ve experienced the quality control issues with the 787 personally in my job as an aircraft cleaner and honestly it’s shocking how shoddy the ones I worked on were. Imagine kneeling across the row of seats so you can clean the trays, and window, brush off the seats and place the seatbelts neatly across the seats and you feel the plastic side of the chair fall off from under your shins. And the response from your supervisor and the airline mech😢mechanics is to tell you to just put it back on. And you know it will happen again next time. Or how one of the lavatories smells persistently of stale urine no matter what you do or how much cleaning fluid you try to get into the system. So you ask your supervisor who is aware of the situation and tells you it’s not a cleaning problem and not to worry about it. Asking the airline mechanics gets you a better answer. The issue is further down the system and they have it scheduled to be dealt with next month. (And indeed two months later the smell was gone.) There were also issues with the little storage units hidden in two of the lavatories where supplies were kept or the bin needed changing. One could only be closed with duct tape and the mechanism on another was so delicate that it was going to break too. And finally for an issue passenger would see, some of the lavatory mirrors were being held together in place with duct tape yet again and went months and months without being repaired or replaced. Even the cockpit wasn’t immune to the shoddy nature of that 787. It took me a little while to notice that the captain’s chair was not actually native to the aircraft. It was a replacement made by another company instead of Boeing. Those seats are moved electronically by the pilots to fit comfortably in reach of the controls so presumably the original had broken. All these issues on an eight year old 787. That’s still young in airliner terms. They are often used for 30-40 years. At least it kept the mechanics occupied I suppose.
It's an oversimplification. The MBAs promised the customers conflicting things, saying they could make the plane hi-tech and cross-compatible with older planes so they wouldn't need to retrain pilots. The engies tried, but there was the schedule, the compatibility, or the hi-tech and one of them had to go. Compatibility went, so a safety critical system still worked, just not in the way the pilots thought it worked so it was not used correctly
"Faulty software" is probably not a correct description! They put bigger engines on the 737 to create 737 Max, creating an airplane with bad characteristics. Then they tried to correct that hardware problem with software, and that's what they failed with. They tried to avoid designing a new airplane, avoiding that cost! We can only imagine what happens if this airplane loses electricity, and the bad characteristics aren't software compensated anymore. I guess the pilots would be somewhat overwhelmed. But this will of course never happen!
@@larsnystrom6698 planes have backup power generator. But if that fail, then they're screwed because everything is fly by wire. Whether the engines have good or bad character doesn't matter.
Advertising and data mining. That's what we export now, through all the social media. It's not a tangible thing and eventually we are going to be highly screwed.
Boeing's only profitable sector being Global Services (ie, repairs and maintenance) is like the Sirius Cybernetics Corporation's only profitable segment being its complaints department.
@@samsonsoturian6013 True, but does that necessarily mean Boeing is the best company to service them? You'd have to be at least tempted to look third party after the last few years.
Boeing bought McDonnell Douglas in 1997 but the power was transferred to MD management who, unlike the engineer led corporate culture of Boeing, was simply profit focused. So just like with MD - Quality drops, profits soar. ALL of Boeing's problems were caused by corporate greed and corner cutting.
We only have three defense contractors so it’s easy to collude and force the government to always pay cost-plus and the companies always make sure the projects drag on and incur massive costs.
Who misspelled Boeing ("Beoing") on that revenue-by-segment chart? That looks like a Boeing-produced chart! They can't even spell their own company name correctly on a document released to the public?
If you think about it, they could have become even richer if they put safety as the #1 priority and sold them ultra safe but no.. to make a quicker buck now, they didn't think of tomorrow
with that money they can hire 4000 inspectors to fix their planes or why not 40 000 inspectors from mexico but i guess they hire 40 chief corporate uber Ceo inspectors for 100million in pay
Imagine being so evil and greedy that you fire 900 quality control inspectors and lying through your teeth to put millions of passengers at risk for better profits. Isreali owned black rock....
The machinists were not the ones installing door plugs. Offhand I don't know if the machinists are justified in getting the pay raises or not, but don't blame them for "A" door plug being improperly installed.
@@randydewees7338 The machinist's union covers more than just the machinists, same way there are baristas covered by the IBEW. It's the IAMAW, International Association of Machinists and Aerospace Workers, even if it's just referred to as the machinists. A lot of the striking workers were in assembly, the people not installing bolts.
@@randydewees7338 The union striking was the International Association of Machinists and Aerospace Workers, not just machinists. Even if it was a machinist's union that doesn't mean everyone involved is a machinist, there are baristas unionized under the International Brotherhood of Electrical Workers. On top of that, do you really think there's only one time that someone didn't follow procedures and forgot to install bolts? That's the time that got caught, there's no way in hell it's the only time it happened.
In the first three quarters of this year Boeing has burned over $10B in cash, which is the amount of cash they have in the bank. Their cost of products exceeded product sales, which means they are losing money on every plane sold. They have over $50B in debt which they cannot service given the negative cashflow and $8B in pension/healthcare obligations. It will be interesting to see what happens if they declare bankruptcy. They will probably be placed into receivership by the feds as they are too critical to the US economy/nat security to dissolve. If the feds are smart they wil prevent it from being publicly traded after the takeover, but this is America so it'll be back on the market post bailout.
This is the problem in simple terms: In order to row a boat, we need 4 rowers and a leader to navigate. But here at Boeing, we have 4 leaders and 1 rower, and when we lose the match, they fire the rower for the bad performance.
Shareholders should be allowed to claw back bonuses from chief execs up to 20 years after they have left the company for damage to the company - that might stop some of this BS - sigh 😢
The thing that is really disappointing about the KC-46 debacle is that this isn't new territory for Boeing, They have been making tankers for as long as they have been making jet airliners, see KC-97 and KC-135. The fact that they can't seem to get a 767 freighter with a refueling boom right is both concerning and hilarious in a way.
New technology that uses 3D cameras for the AROs. Unexpected problems that were only discovered during the flight tests. Not to mention that the aircraft was almost totally redesigned and is nothing like legacy 767s.
Strong language. Facing challenges yes, facing ruin is not accurate. The US has a need for a global airplane manufacturer. The past 12 years were dominated by shareholder profit seeking. That led to these series of tragic decision and quality decline. A new CEO and new oversight from the FAA will work to rebuild.
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
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Starliner? You missed a HUGE (aka $B+) loss contribution, and the technical failures associated with it. Was losing faith in this channel to report on the complete picture. Your starliner oversight may have sealed that fate. Quality over quantity please, quit worrying about the YT algorithm, you got to where you are based on what you have done, not where you are going.
The Starliner failure should really make NASA just blacklist Boeing for a while. They had double the budget of SpaceX, and STILL couldn't deliver a working product.
I don’t know how much it impacts the overall bottom line, but the same issues with the defence segment for Boeing is seen in their aerospace wing. They’re on the hook for a fixed price contract for a space capsule for NASA that is insanely behind schedule. Both Boeing and Spacex were awarded contracts (spacex about half as much) in 2014. While both missed the original delivery date, spacex started flying crew in 2020 whereas Boeing has yet to complete a crewed mission.
A shortage of new aircraft combined with high demand for flying means that lots of old aircraft will be kept on and Boeing will get money for parts from this maintenance. At some point there will be a downturn in demand for flights, or new plane construction will exceed demand for extra aircraft, and a load of old planes will be scrapped. If Boeing doesn't get its new plane production sorted they will have a really difficult time when those old Boeings get scrapped.
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You make videos like this near the lows.
That Blindspot feature is quite handy...
are all millennials ignoring China's economic and human rights troubles? you list of videos seems to show the absolute blindness to it? Why?
Disgraced CEO’s sadly only walked away with 10’s of millions in compensation. Still can’t believe no one went to prison.
I totally believe it. It happens all the time. Jail time is for nobodies like us.
Testifying against boeing causes people to kill themselves
Remember that the rule in Monopoly is that you can just pay to get out of prison.
When we stopped holding our nose and remaining silent when this sh*t goes down, it has a chance of ending.
Our president is a disgraced CEO, why are you surprised.
So 2 CEOs left in disgrace with golden parachutes. Corporate greed at its finest.
@@stevegallagher687 My theory is most these CEOs are being paid to destroy their companies so the banksters can profit from their investments outside the US, namely China. There's no other explanation. Where's the benefits from technology? We should be driving or flying around in vehicles at half the cost and twice the quality. But no. It's all crap at 10 times the cost. Who benefits? China. KisSINginger et al.
Corporate corruption costs human lives. BOD and/or corporate compesation committees of public companies need to be held accountable for their policies and sweet contracts given to top management with negligible negotiation or competition. The shareholders won't do it; they're just along for the ride. In 2022, CEOs were paid 344 times as much as a typical worker in contrast to 1965 when they were paid 21 times. Like the stock market reforms necessitated by the 1929 crash, public companies unfortunately must be regulated in this area.
you can bet Mr Ortberg had his golden parachute negotiations before he took the job
They should have had the compensation Payouts for the crashes deducted from those Golden Parachutes as a warning to future CEOs that low standards will no longer be tolerated … the clown running the company now thinks he’s doing a marvellous job … well news Flash, he could be doing much better.
@@chrisbraid2907 They shouldn't have golden parachutes in the first place. FaIr pay for your performance; if you f*ck things up, get a box, put your things in it, get out and don't let the door hit you in the ass! If you're guilty of malfeasance you stand trial.
I used to love Boeing, since McDonnel infected them, I'm so worried about them. Now I feel so much safer flying in an Airbus.
Much safer also in Embraer.
Me too. Airbus is my favourite.
Airbus planes are stunning these days. The neo, a220 and a350 are going to be the golden aircraft of their generations
The Douglas Santa Monica decease infested McDonnell Aircraft right after the flawed DoD forced merger and then the second flawed MacDac culture-merger with Boeing.
I won't fly on any Boeing "nnn-MAX" aircraft, or any flight that has a DIE pilot, and am moving to airlines that use Airbus.
Isn't it neat how they practically gained a monopoly when they only cared about safety, and how they go bankrupt when they only care about money? I LOVE IT!
Ironic. Boeing had the power to help everyone in the world. But not themselves
How many times must this cycle be repeated before _someone_ observes it and decides to break it??
@@JamilLynch they made their money, no one got punished
There’s always Airbus alternatives.
Dont forget about the assassinated whistleblowers
This is what happened when you put MBAs in charge. Engineers should be in charge.
I'm sympathetic to the sentiment, but I can't help noting that human tumor Jack Welch, arguably the intellectual architect of corporate asset stripping, was a chemical engineer by training.
@@samuelglover7685he clearly forgot his engineering education 😂
Not necessarily. I’ve seen a lot of engineers turned management that did a terrible job
Exactly!!! My comment agrees!!!
For example......
No mention of the Starliner failure? Thrusters, helium leaks, parachute issues, seals, etc. The list goes on
Exploding Satellites
I think the OP was concentrating on planes because it's the bulk of the business but I find it tragic that they've given up on the Starliner leaving musk with a monopoly and his sugar daddy in charge in two months.
The story of Starliner is just one bizarre story after the other
NASA had awarded the contract to Boeing initially because the bid was cheaper, but pretty soon they needed to reopen the contract and award it to SpaceX too because it quickly became quite obvious that the Starliner would not pan out. This was an unprecedented move by NASA or any defense contractor, but it is what saved human exploration in space
There were 2 astronauts assigned to each craft to overview and give inputs on design, the contrast couldn't have been more stark. The Boeing personnel took the inputs from their astronauts as annoyances and did not incorporate them into the team or the inputs into the aircraft.
SpaceX's approach was to make their astronauts a core part of the team, every decision was ran through them, since it was their lives at stake, they had real power on the craft was developed
The situation got so dire that one of the Boeing astronauts straight up refused to fly on Starliner
@glockmat "it is what saved US/NASA exploration in space." Fixed that for you. The EU currently has no real space exploration program, but Russia, Japan, India, and especially China do.
I otherwise agree completely with your comment.
@Shadowbannedandcensored Japan and India are colaborating with the US when it comes to HUMAN exploration, Russia isn't sending rockets to Ukraine correctly, they aint gonna send it to space
If I were a betting man Id wager that China will maybe send a man to the moon, maybe built 1 or 2 space station modules and go "OMG THIS IS SO EXPENSIVE" and ask the US and Co. to let them cooperate in their program
And all the board members and executives, and those in charge who were primarily responsible for all of the deaths, walked away with no personal responsibility or liability whatsoever
This, 1,000 times this. They decided to shove bigger engines under the 737 to make the MAX without redesigning the airplane AND promised airlines that their pilots wouldn't need retraining AND hacked around the unstable plane with software on the cheap AND SO killed 346 people. Jail time for the board and CEO Dennis Muilenburg and for every division head who failed to stop this clusterf@*k!
Yup, murderers as sure as if they gunned each victim down personally. 😐
Imagine defending billionairs
That’s America. Why should they be held responsible? trump never was! If your president elect is considered above the law then we can all ignore the law!
company do business not members.
Corporate greed is out of control. Gone are the days of fixed margins and returns. Now corporations demand unlimited growth in profits which leads to a lot of layoffs of key personnel and a lot of corner cutting. The result is a noticeable decrease in quality. Sucks but ok for a toaster. Deadly for an airplane.
It's a vicious cycle that's driven by capital markets. Investors demand a short term gain which is hard on an industry that numbers development cycles in decades.
Found the drug dealer
This id10t doesn't realize business cartels were legal for most of history.....
Boeing needs to get out of its current business and concentrate on producing toasters.
Without massive US government subsidies, Boeing would have closed shop long time ago.
They lost all the good legacy people over the last 30 years leaving it with a lot of low quality management.
DEI AKA Two Tier
And a lot of that low quality management came from that other failed company known as GE.
@@zalix512DEI meaning stop hiring white male brats from the Ivy Leagues.
Yes and McD@ULlisting
@zalix512 people like you is why these companies are failing. Focused on some idiotic thing that isn't making a difference while management screws the company so they can get more bonuses. It's not DEI, it's uncontrolled greed. They are prioritizing short term profits and killing the company (ie "maximize shareholder value") They didn't fire 900 inspectors due to DEI, they did it to lower costs. The max crashing wasn't due to DEI, it was because their greed made them design a cheaper plane that required a software fix to make it work, and then they rushed development without properly testing or training pilots about it. But there are always fools out there who push their political agenda.
Boeing assembler: Ok, I'm done installing the door plug. (reaches into his pocket) Why do I have 6 extra bolts? Must be from my work yesterday.
Not far from what happened, I would guess.
8000 planes flew with door bolts. Alaska Airlines was warned that the door was not secure and to not fly over water and don't let the passengers remove their seat belts. the warning light came on twice. This is all political.
@@davidtuer5825it was for more complex with 2 different quality control tools and different work crews and shifts.
@@ExploringCabinsandMines This is nonsense. The plane had flown before, the door didn't blow out, but this time it did and it was because the door, or the panel, whatever you want to call it, had not been bolted in position. NO BOLTS!!! That's why it blew out. It was a miracle that the pilots got the plane down safely. Later because of this, almost tragedy, all these planes were grounded and another two were also found to have unsecured panels, that is NO BOLTS fitted. How can you say, as an argument, that other planes didn't crash so don't exaggerate??
@davidtuer5825 Google it smooth brain, it's %50 Alaska Airlines fault at least.
Its interesting that the airlines get more than twice the amount than was given to the families of the victims
These are most likely penalties written into contracts for failure to deliver planes as scheduled. With hundreds of planes grounded due to the MAX fiasco and unable to complete their delivery, you can imagine how all these individual penalties would add up
I had the same thought. I see there is some defence of that, but those are arguments between those involved in designing, making, buying and selling (tickets). The passengers are completely innocent victims, whose loss, truly, cannot be quantified , but it should surely be the most egregious of all those losses.
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Result of McDonnell Douglas merger which resulted in most of their executives who were MBAs taking key positions. While most Boeing managers retired and junior employees never got promoted as there were too many Douglas managers..
Yeah, these megacorps that no one person controls all need trends like that to explain major issues.
MBAs suck
@@johanalejandrocazadordepin7225but they are Masters at last, even they suck 😅
MBA vs. Engineers is a false dichotomy. Many of the authors of Boeing's demise had engineering background.
Let the execs that ran their company to the ground to the point where they lost their name in the "merger" take over the company that's doing great. What could go wrong?
"two CEO’s resign in disgrace" yeah having a golden chute certainly seems disgraceful not a spit in the face of common folk
You don't know how humiliating it is to be fired from your jerb w/ a measly 150M severance package.
Never let the MBAs into upper management
Or DEI quotas.
@@samsonsoturian6013you’re brain broken
@@samsonsoturian6013 Do you have evidence this has actually happened in this company?
@@RanEncounter they have a whole section of their website dedicated to it lol
lol unions are the ones that control boeing.
Management took one of the greatest companies on Earth & ran it into the ground
Flew it to the ground...
It's so unbelievably bad that they fired their quality inspectors and then it all went wrong. It probably saved them $50m/yr and cost $50m a day when the FAA capped production because the trust was so low.
It's the Republican way. Didn't you vote for it?
@8PMFORMULA Neutron Jack didn't like Trump.
Yet the CEO and executives will get paid billions.
The great irony of the Air Force tanker contract is that Boeing had lost the competition to Airbus, and sued to re-open the competition. With tremendous political lobbying, Boeing won the bid the second time around. As a fixed price contract, which they are losing money on while failing to deliver a working product.
They had hoped to be able to sell this updated aircraft (767-2C) as a cargo aircraft, but that never really got off the ground, probably due to using old engines.
Karma.
*If it's Boeing, I ain't going.*
Liar
Hes still alive, that's proof he's not"Boeing it"
My last 2 flights I have actively looked for Airbus.
Us Government enables this behavior by protecting Boeing from competition
What you expect corporations to be held accountable? That ia not possible in America
And by championing the stock market over everything else.
US government following a European model and the response when government intervention doesn't turn things around is a trade war with desperately needed trading partners
Notice Boeing hasn’t loss any of its federal contract awards.
What competition is there to protect from? Outside of Boeing and Airbus, there are a few manufacuters but they make stuff like private jets or at most planes suitable for regional transport. What keeps competition out in these sectors is how expensive and hard it is to make competitive planes.
Penny wise, billions foolish.
Cut costs at ALL costs...
@@reubenmorris487 No, the Chinese plane makers did that. Boeing made the same sins to a lesser degree, which was part of the problem as the 747 worked well enough to be sold
top level execs rare well aware "some of those pennies go into our pockets. the company pays for those billions. it's a no brainer 🙂"
@mm-yt8sf CEO get rich while people die in crashing Boeing planes ...Great business model 😂
What an embarrassment for America.
Shut up
incredible embarrassment. We have a real problem with the corporate culture here.
And for the people that work for and retired from them.
No. It's an embarrassment for Boeing.
Luckily there are the only embarrassing thing about America.
in 2018 they generated $100 billion, invested in stock buybacks instead of R&D and quality control.....Now in 2024, CHAOS
“Invested”. LOL
I always hated stock buy backs. It really doesn't add any value to the company. It just looks pretty for the investors. Even worse, almost all buy backs happen in times when the stock is overpriced.
@ true. It’s only to enrich CEOs.
It’s unfortunate the mba types aren’t financially punished, just shareholders.
It was the shareholders that threw out the original Boeing managers which focused on long-term health of the company, for the MBA managment from McDonnell Douglas in the merger after MD managers had driven itself into the ground needing to be aquired, since they offered more theoretical profit via cost cutting.
Shareholders make these decisions. This is their fault.
Shareholders are reaping the results of constantly pushing todays profits instead of long term stability
The MBAs prefer stock options, a lot of them got demolished and fired
@@SnowmanTF2 Half right, I would think, but shareholders hold no executive power, they can't, of their own accord, fire employees.
Greedy incompetent Boeing Execs are still on $100m packages while engineers get screwed on $50K
Airbus pays its engineers $80K and execs $1m.
Compare the results.
Bingo
Sir, planes need not fly, they just need to believe they can fly. That's how modern reasoning works.
In Other News…R Kelly offered chief engineer position at Boeing
Its because the planes do not have the correct pronouns.
DEI philosophy killing off more than you know besides Boeing. : D
@@chrisbragdon5901 What are you talking about? The screw-ups seem to be all old white men at the top.
they hired the wrong Kelly, R.Kelly is the man who can bring back the Boeing magic.
"Cutting corners to maximize short term profits, is not in the long term interest of shareholders". Hahahahaha. Oh man. That's a good one. "Long term interests of shareholders". You got me there.
"Boeing paid out annual bonuses totaling $418 million to about 68,000 eligible employees ..."
Bonuses when losing money? Here is a company in desperate need of a management overhaul.
Most of it is going to the grunts. Until this year, wages did not keep pace with inflation for obvious reasons.
@@samsonsoturian6013 Good point. Also, some "bonuses" are mandatory and not discretionary.
yup, it's the bonuses that are sinking the company and not overproducing malfunctioning commercial planes and taking on a boatload of awful contracts, it's just the workers that are the problem
@@Glitter_H_Hoof Don't forget about the $Billions in settlements, fines, and compensation costs...
It's to keep employees from going elsewhere. Replacing employees is more expensive than keeping them.
Boeing has no, NO new airplane in the pipeline!
Think Blackberry.
That'll take a long time to cause major issue. The average commercial jet is older than you are.
Truss-Braced Wing Demonstrator
You have flown multiple times on a plane that has at least twice your age guaranteed.
Frames have stayed fundamentally the same since the very first jetliners. Not really a problem.
@@Skywarr405 Is that going work though??
If you mean a clean sheet design, then yes. But they have the 777x and and the MAX 7 & 10 variants to be certified.
How pathetic of a company do you have to be to have essentially a duopoly in the market and still struggle like Boeing? You wonder if these people are even capable of running a ice cream stand.
Checks introductory economics textbook , yep just as I remember it’s a free market not one controlled by the vendor that produces good products that make profits for the manufacturer. Adam Smith is probably laughing in his grave at this sort of company.
Boeing even killed a former engineer
that statement can get you sued
Two, 2 former engineers/whistle blowers; not 1
@@LIONTAMER3D liars get scalped
That's wild speculation. In the US, it's presumed innocence until proven guilty, not like China or Russia.
Evidence please!
I think you forgot to account the money secretly used to fund the assassins against all the whistle blowers
Evidence please.
@@flemmingsorensen5470 The witnesses are dead.
@@flemmingsorensen5470if you genuinely think everything the news says is true: you are brain dead. Most news companies are unprofitable and are beholden to their funders.
The avg salary of a boeing executive is 2.3 million dollars. 7000 employees are in executive level
Another too big to fail mentality.
Cannibalizing the company for personal benefits... A cancer that destroys most corporations.
That's nearly 1 in every 20 employees. That's asinine. You can't be paying 5% of your workforce as executives and expect to be super profitable.
@markpollard2878 agree but thats what they do. Check glassdoor
Data is all over the place on this. I think its mostly BS. One source says its 33% executives, another says 51 total. One source says execs make only 81% more than the average employee. So I don't trust anything at this point. You are basically free to make up anything you want.
Greed, corruption, bullying, murder, mass murder... Great company 😊👍
Lying isn't necessary in this instance
Welcome to America!
Boeing is also very important to US Defense, so they got several things putting them in a position where people don't want them to fail - despite the issues.
Just like Trump an arrogant future loser!!!!!!
Airbus learnt a costly lesson without losing a single penny
Boeing has not even learned its lesson.
Last week we had an all hands, where upper management was gushing about how 'automation' took their formal qualification testing down from weeks to only 3 days. So they are STILL cutting quality inspection under the idea 'automation' reduces the need for it.
They're getting de Havilland'd
@@neeneko At the same time so many US-citizens wonder why US car brands just don't sell outside of NA. Yeah, sure, the automotive industry in the US has cut costs, but they also lost competitiveness all around the world. So the US car industry is a REALLY bad example to work off of. IF they really wanted to make a comparison with the automotive industry they SHOULD look at Toyota and Honda, at two companies driven by engineers, with incentives for the line workers to find, report and fix defects, with bonuses given to those on the line that come up with improvements of any kind, companies that focus on quality. If things at Boeing don't change drastically it's IMHO a matter of time until the Duopoly of Boeing and Airbus slowly shifts more and more towards a monopoly, something even Airbus doesn't want. But with the hyper-fixation on short term gains over long term results, eternally and religiously beholden on the extra Dollar they can squeeze out of anything and anyone I don't see any end to this madness anytime soon.
@@emp0rizzle May I please ask for an explanation and summary about being "de Havilland'd"?
@@javierpatag3609 de Havilland was the first to market with jetliner, basically ushered in the commercial jet age. A couple of their planes broke apart during flight due to cyclic fatigue of their airframe during pressurization and square windows. Boeing and McD learned from that and the rest is history.
Imagine paying ground news to tell you that fox is right wing
The problem with Ground News probably is that all news it's based on is the same Western propaganda.
It can't compensate for that problem. But then, that's not a problem for much of the Western world, they don't notice this, and would be upset if it was anything else.
Right wing, left wing. That's small potato. when they all share the same skewed world view!
You'd have to be some kind of moron to not know if a media outlet is right or left wing. I mean they actually tell you most of the time anyway.
The reputation of Boeing was built on Engineers making the decisions. Their mergers and reorgs killed that.
It would be nice to see the millions and millions in bonuses clawed back that those managers received who made the decisions that led to this disaster.
That won’t happen. Boeing will get bailed out and then they’ll just lay off a bunch more people so they can keep their bonuses going.
It won't happen
@@AnetaMihaylova-d6f You don't say!
I guess some of these managers would need to be in jail, actually.
@@meltdown6165 lol, Trump will give them a spot in his administration. The worse you do the higher up he'll put you.
500 Billion order book and still doing stupid things overlooking safety to save few billions is just crazy
The order book is part of the problem, Purchase "options" should not be anywhere near a true order book
MBA majors are almost all Wallstreetbets users. They bought a lottery ticket for the company so they could collect a share of the winnings and blame someone else if it failed
The decision to shove bigger engines under the 737 to make the MAX instead of designing a new airplane saved $50+ billion?? Obscenely, the set of murderous decisions to use software hacks to make the unstable plane work, after management promised airlines that their pilots wouldn't need retraining, KILLED 346 people. Jail time for the board and CEO Dennis Muilenburg and for every division head who failed to stop the clusterf@*k!
Greed and mismanagement caused their problems!
And led directly to the deaths of 346 people in the two 737 MAX crashes. Jail time for the board and CEO Dennis Muilenburg and for every division head who failed to stop that clusterf@*k!
Boeing isn't going anywhere. Not because they are a good company - they're crap - but because they are one side of a huge industry duopoly .
This is a case study in exactly how NOT to run a company.
To be clear, after the 737Max crashes, most airlines did NOT cancel their orders, as this video incorrectly asserts. The huge drop shown in the graph is due to Boeing being unable to deliver grounded 737 aircraft, plus the effects of the onset of the COVID pandemic.
I’ve experienced the quality control issues with the 787 personally in my job as an aircraft cleaner and honestly it’s shocking how shoddy the ones I worked on were.
Imagine kneeling across the row of seats so you can clean the trays, and window, brush off the seats and place the seatbelts neatly across the seats and you feel the plastic side of the chair fall off from under your shins. And the response from your supervisor and the airline mech😢mechanics is to tell you to just put it back on. And you know it will happen again next time.
Or how one of the lavatories smells persistently of stale urine no matter what you do or how much cleaning fluid you try to get into the system. So you ask your supervisor who is aware of the situation and tells you it’s not a cleaning problem and not to worry about it. Asking the airline mechanics gets you a better answer. The issue is further down the system and they have it scheduled to be dealt with next month. (And indeed two months later the smell was gone.)
There were also issues with the little storage units hidden in two of the lavatories where supplies were kept or the bin needed changing. One could only be closed with duct tape and the mechanism on another was so delicate that it was going to break too.
And finally for an issue passenger would see, some of the lavatory mirrors were being held together in place with duct tape yet again and went months and months without being repaired or replaced.
Even the cockpit wasn’t immune to the shoddy nature of that 787. It took me a little while to notice that the captain’s chair was not actually native to the aircraft. It was a replacement made by another company instead of Boeing. Those seats are moved electronically by the pilots to fit comfortably in reach of the controls so presumably the original had broken.
All these issues on an eight year old 787. That’s still young in airliner terms. They are often used for 30-40 years. At least it kept the mechanics occupied I suppose.
MBAs managing engineers! MBAs are good at cutting costs and quality.
Death by faulty software is absolutely OUTRAGEOUS 🤦🏽♂️
It's an oversimplification. The MBAs promised the customers conflicting things, saying they could make the plane hi-tech and cross-compatible with older planes so they wouldn't need to retrain pilots. The engies tried, but there was the schedule, the compatibility, or the hi-tech and one of them had to go. Compatibility went, so a safety critical system still worked, just not in the way the pilots thought it worked so it was not used correctly
"Faulty software" is probably not a correct description!
They put bigger engines on the 737 to create 737 Max, creating an airplane with bad characteristics.
Then they tried to correct that hardware problem with software, and that's what they failed with.
They tried to avoid designing a new airplane, avoiding that cost!
We can only imagine what happens if this airplane loses electricity, and the bad characteristics aren't software compensated anymore.
I guess the pilots would be somewhat overwhelmed. But this will of course never happen!
@@larsnystrom6698 planes have backup power generator. But if that fail, then they're screwed because everything is fly by wire. Whether the engines have good or bad character doesn't matter.
Boeing and Intel both managed into disaster and they are not the only ones. What is the US supposed to export to pay off all the debt?
Export Trumpism?
Advertising and data mining. That's what we export now, through all the social media. It's not a tangible thing and eventually we are going to be highly screwed.
Brave new world....@@savannah115
Don't be silly. There's more to an economy than exports and there are more big businesses than what you see in the news.
Both are deeply involved in an evil Corp know as black Rock a profits before people israeli owned company.
Boeing's only profitable sector being Global Services (ie, repairs and maintenance) is like the Sirius Cybernetics Corporation's only profitable segment being its complaints department.
No, planes need to be serviced regularly. It's like if walmart's only profitable segment was the automotive department.
@@samsonsoturian6013 True, but does that necessarily mean Boeing is the best company to service them? You'd have to be at least tempted to look third party after the last few years.
@@samsonsoturian6013 Or a car dealership's only profitable segment being its service dept.
@@BSJinx Well, you can't exactly take your iPhone to Samsung for servicing
@@BSJinx Warranty work...
I would say Boeing needs to go after all the money paid out for bonuses over the last four years as it sounds like inside corruption.
Because it is exactly that 😂
If it's Boeing, I'm not going.
stay home
This is what happens when you stop investing in your people ..
Boeing bought McDonnell Douglas in 1997 but the power was transferred to MD management who, unlike the engineer led corporate culture of Boeing, was simply profit focused. So just like with MD - Quality drops, profits soar. ALL of Boeing's problems were caused by corporate greed and corner cutting.
Man you always jam so much information into your videos. I really love watching them.
We only have three defense contractors so it’s easy to collude and force the government to always pay cost-plus and the companies always make sure the projects drag on and incur massive costs.
Who misspelled Boeing ("Beoing") on that revenue-by-segment chart? That looks like a Boeing-produced chart! They can't even spell their own company name correctly on a document released to the public?
you should also have discussed Boeing's failing spaceship rocket business... "if it's Boeing, I'm not going"
If you think about it, they could have become even richer if they put safety as the #1 priority and sold them ultra safe but no.. to make a quicker buck now, they didn't think of tomorrow
Boeing spends 4 billion per year in lobbying
They waste 4 billion a year
@@samsonsoturian6013 only 4 ? 😂
with that money they can hire 4000 inspectors to fix their planes or why not 40 000 inspectors from mexico but i guess they hire 40 chief corporate uber Ceo inspectors for 100million in pay
One of the world's best engineering co.'s destroyed by corporate greed.shamful.!
Imagine doing your job so poorly that doors are falling off the planes you build and then having the nerve to go ask for a 40% raise.
Imagine being so evil and greedy that you fire 900 quality control inspectors and lying through your teeth to put millions of passengers at risk for better profits. Isreali owned black rock....
The machinists were not the ones installing door plugs. Offhand I don't know if the machinists are justified in getting the pay raises or not, but don't blame them for "A" door plug being improperly installed.
@@randydewees7338 The machinist's union covers more than just the machinists, same way there are baristas covered by the IBEW. It's the IAMAW, International Association of Machinists and Aerospace Workers, even if it's just referred to as the machinists. A lot of the striking workers were in assembly, the people not installing bolts.
@@randydewees7338 The union striking was the International Association of Machinists and Aerospace Workers, not just machinists. Even if it was a machinist's union that doesn't mean everyone involved is a machinist, there are baristas unionized under the International Brotherhood of Electrical Workers.
On top of that, do you really think there's only one time that someone didn't follow procedures and forgot to install bolts? That's the time that got caught, there's no way in hell it's the only time it happened.
The consequences of ignoring quality will lead to the company's downfall.
Only a bean counter would lay off quality inspectors. Why don't the bean counters get jailed instead of the company being fined.
absolute banger, great vid 👍
In the first three quarters of this year Boeing has burned over $10B in cash, which is the amount of cash they have in the bank. Their cost of products exceeded product sales, which means they are losing money on every plane sold. They have over $50B in debt which they cannot service given the negative cashflow and $8B in pension/healthcare obligations. It will be interesting to see what happens if they declare bankruptcy. They will probably be placed into receivership by the feds as they are too critical to the US economy/nat security to dissolve. If the feds are smart they wil prevent it from being publicly traded after the takeover, but this is America so it'll be back on the market post bailout.
Another company destroyed by executives not understanding the business or not caring as long as they get their money.
At least Boeing has a good D.E.I program. Building safe reliable airplanes is secondary.
This is the problem in simple terms: In order to row a boat, we need 4 rowers and a leader to navigate. But here at Boeing, we have 4 leaders and 1 rower, and when we lose the match, they fire the rower for the bad performance.
All the bad news is a direct result of terrible management making terrible decisions. And, as that management is still there;…
Just like america, Boeing was on top of the world, and From there, it managed to tear itself down.
Shareholders should be allowed to claw back bonuses from chief execs up to 20 years after they have left the company for damage to the company - that might stop some of this BS - sigh 😢
You'd have to sue them as individuals and prove they artificially inflated sales
@@samsonsoturian6013yes exactly
One of my long time career ambitions has been to work on a cost-plus contract.
Knowing how boeing is operating even after such a fiasco, I think it is going to be a herculean task for them to make sure planes fly in single piece.
u are one of my favorite channels and i live on youtube. you are really good bro.
If it's Boeing i ain't Going!
It's amazing how a company with such bad reputation would have higher sales if their production wasn't absolute chit
This is what happens when accountants design airplanes.
It's the same thing whenever accountants manage businesses.
ARE YOU CRITICIZING APPLE CEO"?
The thing that is really disappointing about the KC-46 debacle is that this isn't new territory for Boeing, They have been making tankers for as long as they have been making jet airliners, see KC-97 and KC-135. The fact that they can't seem to get a 767 freighter with a refueling boom right is both concerning and hilarious in a way.
New technology that uses 3D cameras for the AROs. Unexpected problems that were only discovered during the flight tests. Not to mention that the aircraft was almost totally redesigned and is nothing like legacy 767s.
Strong language. Facing challenges yes, facing ruin is not accurate. The US has a need for a global airplane manufacturer. The past 12 years were dominated by shareholder profit seeking. That led to these series of tragic decision and quality decline. A new CEO and new oversight from the FAA will work to rebuild.
If the CEO is serious he needs to cut a lot of costs and still tell shareholders to forget share price and dividends.
Part of the problem is also the US DoD, they wanted fewer companies to audit, so they encouraged mergers of these aerospace companies.
AIRBUS is my favorite.
Boeing, Boeing, Boeing Gone!
Don't you just love when corporation have to face up to the consequences of their greed?
@@orlandopockets6372 Share buy-backs you mean??
This is so sad for the world! Thank you for the video.
Just listen to those stats about Boeing at the start of the video. There is truly no such thing as “too big to fail.”
Boeing has lost it’s “Why”.
It went from an engineering driven company to a cost cutting driven company.
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
wow this awesome 👏 I'm 47 and have been looking for ways to be successful, please how??
It's Esther A Berg doing, she's changed my life.
I do know Ms. Esther A Berg , I also have even become successful....
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom.
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I am so thankful. I haven't flown since 2019. And have no plans to fly. And if I do. It will be in an Airbus!
When I heard they were using dish soap as a lubricant for the door bolts I was done.
They definitely weren't doing that. There are soaps that can lubricate, just not dish soap
@@samsonsoturian6013 At -40 below zero F?
@@samsonsoturian6013 I came out in a report they did uses Dawn I believe.
Very interesting. Thank you
What about all the “accidental” deaths from whistleblowers?
Great piece ! Learned a lot about bidding . Boeing is a study in Corporate greed . CEO's get bonuses even when Boeing fails .
Lying isn't necessary in this instance
They get tens of millions for killing people in flying coffins . Great business model
Starliner? You missed a HUGE (aka $B+) loss contribution, and the technical failures associated with it.
Was losing faith in this channel to report on the complete picture. Your starliner oversight may have sealed that fate.
Quality over quantity please, quit worrying about the YT algorithm, you got to where you are based on what you have done, not where you are going.
The Starliner failure should really make NASA just blacklist Boeing for a while. They had double the budget of SpaceX, and STILL couldn't deliver a working product.
I don’t know how much it impacts the overall bottom line, but the same issues with the defence segment for Boeing is seen in their aerospace wing. They’re on the hook for a fixed price contract for a space capsule for NASA that is insanely behind schedule.
Both Boeing and Spacex were awarded contracts (spacex about half as much) in 2014. While both missed the original delivery date, spacex started flying crew in 2020 whereas Boeing has yet to complete a crewed mission.
the only reason their Service division is still profitable is because their planes keep breaking down
A shortage of new aircraft combined with high demand for flying means that lots of old aircraft will be kept on and Boeing will get money for parts from this maintenance. At some point there will be a downturn in demand for flights, or new plane construction will exceed demand for extra aircraft, and a load of old planes will be scrapped. If Boeing doesn't get its new plane production sorted they will have a really difficult time when those old Boeings get scrapped.
so ... Buy opportunity for BA?
it actually is
Down almost 40% from the beginning of the year, so sure
But always remember, shareholders come first🤡
I like how you were optimistic at the end for them
Excellent content!