This ‘late stage capitalism’ has become a cancer on American corporations always trying to boost short term stock price and profits at the expense of long term growth. Boeing has been doing it for 20 years, but is particularly odious because they now factor in death as an expense of doing business. Lives mean nothing to these people. Only profits do.
Boeing may have $78 billion in contracts but their market share is way down. They have a terrible reputation and need to make some big high profile changes or things will slowly keep moving Airbus’s way.
The fire the top guys so we'll all say "Good!" and turn our attention elsewhere. Calhoun was President and CEO for four years. He's not even close to the whole problem.
A lot of these problems were exacerbated by the GE culture invented by Jack Welch. That started with the McD merger which brought Harry Stonecipher into Boeing. He had been fired by Jack in 1984, but had turned into a true believer in the gospel of "straight from the butt". After that, it got Jim McNerney, "let go" from GE after he missed the cut when Welch retired. Jim was a Harvard MBA, class of 1975, along with George "Shrub" Bush, MItt Romney and Leon Black. Such fine people. And now Dave Calhoun is leaving, also ex-GE, but just learning the Jack Welch way when Jack retired. Along the way, there was Dennis Muilenburg, an Iowa farm boy who learned from his elders all about money. As usual, money was the root of much evil.
It is all in the spin.... wait not that spin. Nose down and kick the rudder hard left fast. Oh, that is for single engine prop planes. OK sorry folks. We have to review procedures and wait for the manual to load.
"Boeing paying more than $2.5 billion in fines for conspiring to deceive the FAA" -- I will remind people that this was during the False Administration of the Orange One, when the head of the DOT, which oversees the FAA, was none other than Mitch McConnell's wife. She had handed "oversight" back to the FAA. Ah, Republicans. They never disappoint you.
Calhoun isn’t even leaving until the end of the year. This puts him at 5 years which I will bet about 40 million dollars is exactly how long you need to be vested for your stock options. Never flying in a Boeing ever.
This isn't an exec getting forced out (as it was covered this morning), this is an exec falling on his sword in such a way that both he and the company benefit immensely ... and the rubes are conned yet again.
Sounds like the old trade-off between QC and production speed.
This from NPR's Morning Edition (Joel Rose, byline): "But we know that there has been mounting pressure from the airlines that are Boeing's biggest customers. Boeing's production schedule has slowed way down as they've been focused on quality and safety. They're not delivering as many planes. They have a very years long backlog of planes already that airlines are waiting for and maybe waiting for even longer now. And so airline CEOs are beginning to, you know, air their concerns about Boeing in public."
More between management, union, and non union. The initial FU for the door blow out was by non union people in KS who assembled everything plug related badly. Non-union contractors were hired to fix the bad overall assembly in WA, but it required union folks to pull the door plug, then replace it after. Somewhere the guy in charge of the take it apart and put it back together did something badly wrong, as his lawyer will only say he has been on sick leave since the blowout.
Maybe hire more workers and open another assembly line. But that cost money up front that won't show up as profits for a couple of years. A terrible decision when stock prices are determined by profits your last quarter. Not what you will be doing two years out, delivering more planes and ensuring quality rather than taking short cuts to get the product out the door as quickly as possible.
True, but drowning isn't in the top 2 causes of death of young people, as far as I know. And the only reason I have to specify top 2 instead of 1 is because in the USA, and only in the USA, guns are about on par with cars in how many young people they kill.
The Guardian uncritically published Boeing's statement that "it had been cooperating "fully and transparently" with the NTSB." That's funny, I was reading just last week Boeing wouldn't identify the employees who worked on the door plug.
One thing in defense of the employees is that they were doing what management told them to do. Even if what they did was against the written rules. And yes, there are all of these claims about how any employee can shut down a production line if they see or are told to do something outside of the rules and not face retaliation, but the truth is that a low-level non-union line worker will be fired on the spot for causing that shutdown.
The piss-poor production work and door plug shit are entirely on the management.
I don't think the NTSB was going to single those employees out. Pretty sure it would be to get statements about their work environment and what procedures they performed on the install. Boeing is just covering mgmt's ass
Nah. i'm not going to research someone else's claim when they aren't even referencing the same info (NTSB vs FAA), that's the responsibility of the person making the claim.
Did I stumble into a meeting of the Boeing Corporation fan club?
‘Wow, I guess the movement of the airplane is more important than the first time quality of the product.’
WTF does that even mean? Did he learn that language from the Corporate Strategy Fairy on his last trip to an Aspen Corporate Leaders Conference? JFC
This ‘late stage capitalism’ has become a cancer on American corporations always trying to boost short term stock price and profits at the expense of long term growth. Boeing has been doing it for 20 years, but is particularly odious because they now factor in death as an expense of doing business. Lives mean nothing to these people. Only profits do.
Boeing may have $78 billion in contracts but their market share is way down. They have a terrible reputation and need to make some big high profile changes or things will slowly keep moving Airbus’s way.
Rearranging the deck chairs on the Titanic as the bow submerges.
In my old drag racing days "blowing the doors off" someone had a completely different meaning........
The fire the top guys so we'll all say "Good!" and turn our attention elsewhere. Calhoun was President and CEO for four years. He's not even close to the whole problem.
A lot of these problems were exacerbated by the GE culture invented by Jack Welch. That started with the McD merger which brought Harry Stonecipher into Boeing. He had been fired by Jack in 1984, but had turned into a true believer in the gospel of "straight from the butt". After that, it got Jim McNerney, "let go" from GE after he missed the cut when Welch retired. Jim was a Harvard MBA, class of 1975, along with George "Shrub" Bush, MItt Romney and Leon Black. Such fine people. And now Dave Calhoun is leaving, also ex-GE, but just learning the Jack Welch way when Jack retired. Along the way, there was Dennis Muilenburg, an Iowa farm boy who learned from his elders all about money. As usual, money was the root of much evil.
Stan Deal?? Really? That is on the nosecone. (The best Deals are Kim and Kelly.)
It is all in the spin.... wait not that spin. Nose down and kick the rudder hard left fast. Oh, that is for single engine prop planes. OK sorry folks. We have to review procedures and wait for the manual to load.
Apply full power. Always apply full power if you have any.
"Boeing paying more than $2.5 billion in fines for conspiring to deceive the FAA" -- I will remind people that this was during the False Administration of the Orange One, when the head of the DOT, which oversees the FAA, was none other than Mitch McConnell's wife. She had handed "oversight" back to the FAA. Ah, Republicans. They never disappoint you.
It is ironic, then, that McConnell’s sister-in-law died because of lax oversight/regulation in the auto business.
Calhoun isn’t even leaving until the end of the year. This puts him at 5 years which I will bet about 40 million dollars is exactly how long you need to be vested for your stock options. Never flying in a Boeing ever.
^this right here.
This isn't an exec getting forced out (as it was covered this morning), this is an exec falling on his sword in such a way that both he and the company benefit immensely ... and the rubes are conned yet again.
Sounds like the old trade-off between QC and production speed.
This from NPR's Morning Edition (Joel Rose, byline): "But we know that there has been mounting pressure from the airlines that are Boeing's biggest customers. Boeing's production schedule has slowed way down as they've been focused on quality and safety. They're not delivering as many planes. They have a very years long backlog of planes already that airlines are waiting for and maybe waiting for even longer now. And so airline CEOs are beginning to, you know, air their concerns about Boeing in public."
More between management, union, and non union. The initial FU for the door blow out was by non union people in KS who assembled everything plug related badly. Non-union contractors were hired to fix the bad overall assembly in WA, but it required union folks to pull the door plug, then replace it after. Somewhere the guy in charge of the take it apart and put it back together did something badly wrong, as his lawyer will only say he has been on sick leave since the blowout.
Maybe hire more workers and open another assembly line. But that cost money up front that won't show up as profits for a couple of years. A terrible decision when stock prices are determined by profits your last quarter. Not what you will be doing two years out, delivering more planes and ensuring quality rather than taking short cuts to get the product out the door as quickly as possible.
It's been service the stockholders as "the customers" since the McDonnell-Douglas merger way back when...
Marcie Jones, I think you win headline of the week, and it's only Monday. I'm glad you're here!
I'm sticking with walking for now. Although, without any sidewalks where I live, air travel on a Boeing is probably safer.
Depressingly true. The main reason flying is so safe: Once you are in the air you're out of reach of cars.
I've also heard that very few people have drowned while at 25,000 feet.
True, but drowning isn't in the top 2 causes of death of young people, as far as I know. And the only reason I have to specify top 2 instead of 1 is because in the USA, and only in the USA, guns are about on par with cars in how many young people they kill.
The Guardian uncritically published Boeing's statement that "it had been cooperating "fully and transparently" with the NTSB." That's funny, I was reading just last week Boeing wouldn't identify the employees who worked on the door plug.
This is when I dislike the Guardian.
One thing in defense of the employees is that they were doing what management told them to do. Even if what they did was against the written rules. And yes, there are all of these claims about how any employee can shut down a production line if they see or are told to do something outside of the rules and not face retaliation, but the truth is that a low-level non-union line worker will be fired on the spot for causing that shutdown.
The piss-poor production work and door plug shit are entirely on the management.
I don't think the NTSB was going to single those employees out. Pretty sure it would be to get statements about their work environment and what procedures they performed on the install. Boeing is just covering mgmt's ass
I was just following orders!
Honestly, they did give the FAA a list... of every employee who got within fifty feet of the door at any time it was there.
I didn't see reporting on that
The advantage of living here and reading this stuff everydayl
Dude, link to it. Not hard to do
Neither is clicking the search button and typing FAA.
https://substack.com/search/faa?focusedPublicationId=1783367&searching=focused_posts
Nah. i'm not going to research someone else's claim when they aren't even referencing the same info (NTSB vs FAA), that's the responsibility of the person making the claim.
Did I stumble into a meeting of the Boeing Corporation fan club?
And what I had read about was about the NTSB, not the FAA. Your mileage may vary.
"If anything happens to me, it's not suicide." I really hope there's a serious investigation into the death of John Barnett.
Yep. This is one case where I'm pretty conspiracy-theory-minded.
Same. Oh, and Epstein.