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Thursday, January 27, 2022

Boeing Suspends Buybacks And Dividends; CEO Will Work For Free Until End Of The...

Boeing thought it could be tricky - again - and after it repurchased tens of billions in stock in the past 7 years... ... by issuing record corporate debt ... ... and making its shareholders extremely rich by sending its price to all time highs, at least until the recent collapse, the company came begging,…

Nikki Haley Breaks with Trump, Resigns from Boeing over Company Seeking Bailout

Former United Nations Ambassador Nikki Haley resigned from the Boeing Board of Directors, citing her opposition to President Trump’s administration potentially offering financial assistance to key American industries in the midst of the coronavirus crisis. In a letter dated March 16, Haley announced her resignation as a Boeing board member after being nominated for the…

Boeing Seeks “A Minimum $60 Billion” Govt Bailout After Fully Drawing-Down $13Bn Credit Line

Update (2000ET): Boeing - unsurprisingly - has issued a statement fully backing the idea of free money handouts from the government to save itself. We appreciate the support of the President and the Administration for the 2.5 million jobs and 17,000 suppliers that Boeing relies on to remain the number one US exporter, and we…

Boeing, Which Repurchased Over $100BN In Stock, Is Downgraded To BBB, Seeks “Short-Term” Bailout

Just hours after S&P took the machete to Exxon's long standing AA+ credit rating, moments ago the rating agency went after the company which until just a few weeks ago seems invincible, and whose stock price has crashed from $350 to $130 in a little over a month after it announced it was fully drawing…

Boeing Abandons Guidance, Says 737 Max Production Will Take 2 Years To Reach Pre-Grounding...

Update (Feb. 12): One day after Boeing announced zero plane orders in January, the Chicago-based airplane manufacturer had more bad news: it would abandon forward guidance, along with the new understanding that 737 Max production line could take upwards of two years to get the volume back to pre-grounding levels. CFO Greg Smith addressed shareholders at…

Boeing Tumbles After Reports Of Further 787 Production Cuts

After an exuberant opening - because coronavirus is 'contained' or some such bullshit - Boeing shares have tumbled back into the red after reports that the company is considering another cut to production of its marquee 787 Dreamliner. Bloomberg reports, citing people familiar with the matter, that executives are studying whether to trim monthly output by…

30 Year Boeing Quality Manager Says “Fly Something Else”, Refuses To Fly On 787...

Slipping through the cracks of the Boeing controversy - which has taken on new twists and turns almost daily - were comments we recently uncovered by a former Boeing quality manager, who said last month that he thinks Boeing's problems aren't just limited to the 737. John Barnett was a quality manager for Boeing for 30 years…

Iran admits to accidentally shooting down UIA 752

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss breaking news that Iran President Hassan Rouhani has admitted that a senior IRGC commander accidentally shot down the Ukrainian UIA 752 plane that took off from Tehran’s international airport amid tensions between Iran, Iraq and the United…

Boeing Emails Show Company Talked Doomed Lion Air Out of 737 Max Simulator Practice

Recently published emails between employees at Boeing revealed that the company dissuaded Lion Air from training pilots that would fly the 737 Max aircraft in Boeing’s simulators. Lion Air Flight 610, which was a 737 Max, crashed in October 2018, killing all passengers on board. According to a report by Forbes, employees at Boeing encouraged officials…

Boeing Releases 737 MAX Safety Warnings Withheld From FAA

With the fate of the American manufacturing economy hanging in the balance, Boeing has been struggling to make it to 2020 in one piece. America's largest exporter is dealing with a litany of problems, only some of which are related to the never-ending nightmare that is the Boeing 737 MAX 8. Yesterday, Boeing lost its…
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