They have a lot invested, but repairing the reputation of this plane is a lost cause. Had they gone scorched Earth and fired everyone involved, the entire management of the company would have been gone -- the guy recently brought in has eliminated a couple of board heavies (Muilenberg or whatever, and before that, he and Muilie took the CFO aside and fired him) and is known for straightening out screwed up corps, but not for running them long term.
Had they tried something more proactive, such as fixing the problem before the second crash, likely that none of this would have happened. If they'd pulled the entire product after the second crash, fixed the avionics Q&D, and made sure the plane kept flying as a freighter for the time being, to establish a track record, that probably would have worked. Now they're screwed, and have screwed themselves on the 737Max. Edsel.
This showed up on the broker website, no URL, can't turn it up with some basic searches.
Boeing CEO Immediately Under Fire -- Market Talk
Today 2:37 PM ET (Dow Jones)
14:37 ET - New Boeing CEO David Calhoun pledged in a staff memo to incorporate "outside-in perspective on what we do and how we do it", so little surprise that he's been taken at his word. A letter signed by three senators already heading his way, calling for the cancellation of the $7M bonus tied to him successfully returning the 737 MAX to service. "This payment represents a clear financial incentive for Mr. Calhoun to pressure regulators into ungrounding the 737 MAX, as well as rush the investigations and reforms needed to guarantee public safety," write Sens. Edward Markey, Richard Blumenthal and Tammy Baldwin. (doug.cameron@wsj.com; @dougcameron)
(END) Dow Jones Newswires
January 13, 2020 14:37 ET (19:37 GMT)
Chairman David Calhoun will become the manufacturer’s new CEO on Jan. 13... Board member Lawrence Kellner will become Boeing’s non-executive chairman of the board, effective immediately.Boeing fires CEO Dennis Muilenburg, as the company struggles with 737 Max crisis