The Briefing Room

General Category => Economy/Business => Topic started by: rangerrebew on January 15, 2024, 01:31:22 pm

Title: Boeing's bean counter: Embattled aviation giant is slammed for hiring $22m-a-year ACCOUNTANT as its
Post by: rangerrebew on January 15, 2024, 01:31:22 pm

Boeing's bean counter: Embattled aviation giant is slammed for hiring $22m-a-year ACCOUNTANT as its CEO while rival Airbus's boss is aeronautical engineer...as firm's killer 737 Max jet is hit by fresh safety woes


Boeing's David Calhoun faced furious backlash after disaster on Alaska Airlines

A door blew off Boeing 737 MAX 9 plane at 16,000 feet depressurizing the cabin

Calhoun said it was Boeing's 'mistake' and apologized - but still provoked fury
By ISABELLE STANELY FOR DAILYMAIL.COM

PUBLISHED: 11:50 EST, 13 January 2024 | UPDATED: 11:52 EST, 13 January 2024
 
Boeing's decision to hire a trained accountant as its CEO - while rival Airbus's boss is an engineer - has come under fresh scrutiny after yet another safety drama. 
 
https://www.dailymail.co.uk/news/article-12944167/Boeings-bean-counter-Embattled-aviation-giant-slammed-hiring-22m-year-ACCOUNTANT-CEO-rival-Airbuss-boss-aeronautical-engineer-firms-killer-737-Max-jet-hit-fresh-safety-woes.html

Title: Re: Boeing's bean counter: Embattled aviation giant is slammed for hiring $22m-a-year ACCOUNTANT as
Post by: rangerrebew on January 15, 2024, 01:32:32 pm

Maybe they should have hired a trannie or a person of "equity!" *****rollingeyes*****

Title: Re: Boeing's bean counter: Embattled aviation giant is slammed for hiring $22m-a-year ACCOUNTANT as
Post by: catfish1957 on January 16, 2024, 06:23:12 am

I have often done some of my best investing when companies are in crisis mode.  One of my favorite rules of thumb, are that sometimes (repeat sometimes) the best investments are the ones when punditry and investors are panicking and people are heading towards the exits.  I've made killings at least 12-15 in that mode though the years.

With that, I checked BA, and found even with this shit storm, their stock is still up 25% versus their 52 week low.  Oh well.....

Title: Re: Boeing's bean counter: Embattled aviation giant is slammed for hiring $22m-a-year ACCOUNTANT as
Post by: Timber Rattler on January 16, 2024, 12:24:27 pm

I watched Downfall: The Case Against Boeing on Netflix and agree with the argument that Boeing's current problems stem from the 1997 merger with McDonnell, in which McDonnell's bean-counting executive culture was injected into Boeing and ultimately consumed that's company's corporate management.  The result was that engineers were frozen out of critical design decision making and quality control in favor of the money men running things, and as a result, bad things started happening.

https://www.netflix.com/title/81272421

That merger of course was forced by the Clinton Administration:

https://www.wbur.org/onpoint/2023/03/01/the-last-supper-how-a-1993-pentagon-dinner-reshaped-the-defense-industry

https://www.airandspaceforces.com/article/0798industry/

https://www.washingtonpost.com/archive/business/1997/07/04/how-a-dinner-led-to-a-feeding-frenzy/13961ba2-5908-4992-8335-c3c087cdebc6/