Boeing has approved outgoing CEO Dave Calhoun's $33M retirement bonus. This isnt his total remuneration. This is a bonus.
One "committed suicide" hours before testifying and the other picked up an extremely rare and lethal infection. The second person died within hours of contracting the infection. No one else was infected or injured. This also happened a couple of days before he was to appear in court.
A Korean Air Max 8 flight is being misrepresented as a massive altitude drop in headlines. While the aircraft did lose 25,000 feet in five minutes, this action was taken due to a loss of cabin pressure. People can breathe below 10,000 feet. While the aircraft did experience a major defect, it did not carene out of control toward the ground, as every article I've seen tries to suggest.
I remembered the suicide. For some reason I thought the 2nd one was a guy who had the disease for years or something like that and had blown the whistle years before dying from it. Sounds like I misremembered though.
I was being facetious, M123. Boeing is a dumpster fire. After the last two NASA / Boeing news conferences, I am very seriously considering short selling Boeing. I've never short sold a stock in my life but I am considering it, right now. To be clear, I think Boeing might get Starship home. Starship is actually not that bad. The most serious issues reside in the service module but it is not a particularly relevant distinction. The reason I would sell short is because Boeing is a top-down, toxic, incompetent, organization. They may get the odd thing done but at ridiculous cost and comically late. In short, they cannot do stuff anymore.
One of those companies where it seems that this time, it must be the low...and somehow they dig in and find a way to disappoint even more!
The problem with Boeing is the problem with a ton of massive companies. Management is a nightmare, corrupt, and doing everything wrong. They have infected the company like ticks on a dog. Any bailout or buy-out they pitch is always foiled by a management retention show-stopper. They have tried to sell their space division to various organizations but have poisoned those deals with management retention. Now they are pitching their world beating greatness to Jeff Bezos. I hope and believe Jeff is smart enough to demand management step down before he will consider it. I hold strongly to the notion that Boeing Space can do well with dramatically better management, which is an extremely low hurdle to surmount.
That’s because the company is part of a unique duopoly, one of only two manufacturers of full-size passenger jets in high demand by airlines. That means it can continue to sell, build and deliver planes for many years to come, even with massive and well-documented problems.
And that is why devouring/merging with competition is generally bad for the consumer and health of the economy. Competition = Good Buy N Large = Bad
I've ground down Boeing for the last several years with the self righteous certainty of an Internet opinion poster. Thank you, Boeing, I've really enjoyed it. It bothers me to see Boeing dragged through the mud for the South Korean issue with their 737-800. That is not a Boeing issue. We are waiting on the report but it appears there was an engine outage, followed by pilot error, followed by an airport that thought it was a good idea to place a giant concrete barrier at the end of a runway. I don't see how any of that was Boeing. Also, the 737-800 is known to be a decent aircraft. For some reasons, people want to pile on when there are problems. Boeing deserves the bad press it gets and more but this one is not on them.
