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Your assesment of Mcdondald is spot on and exactly why I just voted my Boeing proxy votes to boot him and Stonecipher off the BOD.

A point I might make here is that during the latest aircraft downturn, While Boeing has layed off approx half of their workforce to reflect conditions, AirBus has continued building planes (called whitetails) and parking them....all subsidized. This has in effect flooded and already glut market of planes and further reduced their value. Airbus then makes offers that airlines simply can't refuse either price wise or maintainence support wise.

The underlying strategy for Airbus is to use the EU subsudies and what amounts to "dumping" to essentially take a run at putting Boeing out of business. Boeing's strategy has been to attempt to maintain share value even in light of revenue drops of approx 50% since 9/11 and all the while develop new aircraft so that once the storm is weathered it will emerge stronger than ever.