Posted on 10/30/2024 4:07:42 AM PDT by MtnClimber
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As Boeing’s latest chief executive, Kelly Ortberg’s job was never going to be easy. On Wednesday, it got harder still.
That morning, Ortberg had faced investors for the first time, telling them that ending a debilitating strike by Boeing’s largest union was the first step to stabilising the plane maker’s business.
But as the day wore on, it became clear that nearly two-thirds of the union members who voted on the company’s latest contract offer had rejected it. The six-week strike goes on, costing Boeing an estimated $50mn a day, pushing back the day it can resume production of most aircraft and further stressing its supply chain.
The company that virtually created modern commercial aviation has spent the better part of five years in chaos, stemming from fatal crashes, a worldwide grounding, a guilty plea to a criminal charge, a pandemic that halted global air travel, a piece breaking off a plane in mid-flight and now a strike. Boeing’s finances look increasingly fragile and its reputation has been battered.
Bank of America analyst Ron Epstein says Boeing is a titan in a crisis largely of its own making, comparing it to the Hydra of Greek mythology: “For every problem that’s come to a head, then [been] severed, more problems sprout up.”
(Excerpt) Read more at ft.com ...
Sell it to Saab.
“Can anyone fix Boeing?”
i would say no based on what i’ve read, namely that boeing pretty much doesn’t make anything themselves anymore, subbing out the construction of all major assemblies to nations around the world, many being almost 3rd world type of nations ... and on top of that, boeing wasn’t sending BOEING employees to supervise and conduct quality control during said assembly construction ... boeing wouldn’t be aware of problems until the assemblies were finally received at their assembly plants ... thus boeing has lost almost all ability to make things themselves ... i don’t really see how that can be fixed ... possibly someone like elon musk could buy boeing out of bankruptcy and pretty much start over, but even there, a quick fix would be unlikely ...
Did the unions push Boeing out of much of the production business?
“First fix the DEI or Boeing will DIE.”
Quite a few of their employees come from managed services companies like Dell who hire their own DEI people to support Boeing. That hasn’t helped much. It is saying their own employees aren’t capable of doing a good job, so bring in a third party to manage their operations.
BlackRock holds only 6% of Boeing’s outstanding shares, and even these shares are not truly owned by BlackRock but held in a fiduciary capacity for its funds and ETFs. While BlackRock undoubtedly wields significant influence by exercising voting rights on behalf of these funds, it is increasingly facing legal challenges from lawyers representing the actual investors in those funds.
Some legal experts argue that BlackRock’s commitment to DEI initiatives has negatively impacted the value of companies it oversees—potentially diminishing the returns of the funds it manages as a fiduciary. This opens the door for shareholder lawsuits, questioning whether BlackRock’s policies serve the best financial interests of its investors.
It cannot be fixed as long as preferences exist in hiring, education and promotions. As long as people are hired early in life, at less than qualifed work performance, and never required to achieve that performance within the workforce, and they can rely on preferences for every job advancement and even into management, we will have craddle to the grave unqualified people at all levels of the organizations affected by the stupidity of Race/Gender Preferences.
To fix the following is suggested as a templete for Trump’s consideration:
Trump must end race, gender and any other government programs where a person is given a job over the best qualified candidates.
Veterans Preference for military will remain. Veterans Preference will only be used once. When you are hired.
Trump will announce that all Preferences recognized and mandated by the Federal Government are null and void immediately, any application submitted but not hired by the end of 30-days, will not be valid. No Preferences will exist for any reason except those given to Veterans of the Military who complete their term of service under only Honorable Conditoins.
Verterans Preference (VP) will not be used for a second federal job application.
VP will not be used for consideration at time of Promotion, or for jobs with a linked in promotion upon hiring, e.g., positions that given discressionary 6 month, 1 year, followed by 1 year (etc.) applications. Applications using VP will only get a job at the level of entry with no linked follow on promotions or elevation in duties.
VP applications must meet minimum job requirements other applications were required to possess and perform daily not less than one year after hiring, or appointment is canceled and failure to met program requirements of rising to the level of competence will result in termination with no further benefits or liens against the USG.
No Preference can be used for consideration for positions in Management Positions, only entry level supervised positions.
Any person hired on a Preference will be required to be competent to compete for future promotion.
I think it is the voting of the woke financial institutions that places the DEI believers on the boards of these companies. Maybe a few huge lawsuit settlements will change that.
I agree. Unfortunately, a huge DEI influence inside these corporations (emanating/oozing from human resources and legal) has also unduly pressured management and the boards.
No. It cannot be fixed. Not even Max the Miracle Worker can fix it.
I work for Ace hardware, another DEI company. Yesterday, I found out it would stock any thanksgiving or Christmas decorations or Christmas trees in the lot this year. Walk into a Home Depot and it is holiday galore. If Ace is publicly traded, sell now because they will be the next to close their doors.
This assumes Boeing is broken. Boeing is exactly what its owners want it to be - an apparatus used to get money from U.S. taxpayers.
C’mon, man.
They said they wanted to destroy the US.
What part of that is so hard to understand?
The article headline is rather naive, considering that the effects of progressive policies were all predictable.
Can anyone fix Boeing?
If Boeing can’t fix anything, no.
Boeing was forced to aquire smaller failing defense contractors thus diluting the basic air plane manufacturing business.
Shed the aqusitions and return to the core business...... do it in South Carolina, not Seattle.
You think you’re Boeing material?
Oh, it’s worse than that.
I was dealing with Boeing years ago with a contract.
The drawings were loaded with simple math errors (I don’t care how many formula’s you use, 2+2 does not equal 5).
To get simple mathematical errors on a drawing corrected was a massive undertaking.
Layer upon layer of engineering management made correcting simple math errors virtually impossible.
And my time was billable.
Fixing Boeing will not happen as long as the company remains in Washington State. Texas, Kansas, Florida, maybe.
They weren’t having these problems when aeronautical whiz caroline kennedy was on the Board of Directors!
It’s not just DEI believers making this mess. A lot white male managers don’t believe it in at all but CYA for their careers. I see them hire lots of unqualified people to check the DEI boxes. Seemingly, most everybody just does what they have to do days...
Well, we’ll just see about that. Ta ta Tuttle.
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