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   Technology StocksBoeing keeps setting new highs! When will it split?

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To: John Koligman who wrote (3646)4/10/2024 8:02:50 AM
From: Jeff Vayda
1 Recommendation   of 3677
Not that I know anything particular about this situation, but a statement like this gives me pause: " Mr. Salehpour said he was repeatedly retaliated against for raising concerns about shortcuts he believed the plane maker was taking in joining together the pieces of the Dreamliner’s fuselage."

Ive been around similar engineering instances when one guy thinks he knows best. IF he has raised this issue repeatedly, I trust other engineers would have eventually come around to his way of thinking - IF he had a point.

IMO going before Congress is WAY down on the list of appropriate ways to handle this situation and way up on the list of ways someone who thinks he know best reacts. Just saying....

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To: Jeff Vayda who wrote (3647)4/10/2024 12:54:36 PM
From: John Koligman
   of 3677
I hear you, but at this point BA's credibility is not very high. How they handled the 737 MAX flight control debacle and the continued assembly problems give one pause. They don't seem to be able to get a handle on it either, and for years now the C Suite has become a revolving door.

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To: Thomas M. who wrote (3645)4/11/2024 9:23:49 AM
From: roto
1 Recommendation   of 3677
Boeing won’t even consider moving HQ back to Seattle

Samuel Corum/Getty Images

Chris Isidore, CNN
Thu, April 11, 2024 at 4:00 AM PDT

It’s been a brutal six years for Boeing, with two fatal jet crashes kicking off a series of safety crises — and raising concerns about the quality and safety of the planes rolling off its assembly lines.

As Boeing scrambles to repair its reputation, some critics and shareholders are asking: Why not move headquarters away from the shadow of Washington, D.C., and back home to its roots in Seattle?

But Boeing has now made clear: We are not interested.

An individual Boeing stockholder, Walter Ryan, wanted to put the question of a move up for a vote during the company’s May 17 annual shareholder meeting. He filed his proposal in October for the shareholder vote, which would have been non-binding — but in February, Boeing went to the Securities and Exchange Commission, ultimately winning approval to block the vote.

Ryan, who owns 10,000 shares of Boeing stock, lives in Las Vegas and has never been to Seattle. But he believes that if Boeing is to fix its current quality and safety problems, the company’s top management should be back in Seattle — near where most of its commercial aircraft are still manufactured.

“I think they need some hands-on overseeing, and by som ebody who has skin in the game,” Ryan told CNN.

Boeing’s corporate offices had been in Seattle from its founding in 1916 until it relocated to Chicago in 2001. Then in 2022, Boeing corporate moved again — this time to Arlington, Virginia, near the Pentagon and across the river from Capitol Hill. Most manufacturing, however, remains more than 2,300 miles away in Seattle.

“They want to be next to government,” Ryan said. “Is that a sound idea? I don’t think so.”

It isn’t only shareholders like Ryan who believe a return to Seattle would benefit Boeing.

“Part of it would be symbolic,” said Shem Malmquist, a Boeing 777 pilot and instructor of aviation safety at Florida Tech. “But it’s also going to be better culturally. In the end, the closer the top management is to the production and what’s going on and the engineers, the better.”

Boeing’s response

In his proposal he wanted presented to shareholders, Ryan said the corporate move from Seattle and separation from the core manufacturing business resulted in major issues related to “engineering and quality problems, and Boeing’s historic credibility,” — concerns he said are now foremost “in the minds of both travelers and shareholders.”

Ryan wrote the proposal even before a headline-grabbing incident in January, when the door panel of a Boeing 737 Max blew off in the middle of an Alaska Airlines flight, later found to be because the aircraft left the factory missing crucial bolts needed to keep it in place.

Boeing’s attorneys argued to the SEC that this isn’t an appropriate issue for shareholder vote: “The proposal seeks to ‘micro-manage’ the company by probing too deeply into matters of a complex nature upon which shareholders, as a group, would not be in a position to make an informed judgment.”

Further, Boeing’s attorneys dismissed the premise of Ryan’s argument, calling it “an unsupported theory that certain manufacturing issues experienced by Boeing would have been avoided simply because the company’s headquarters were located in a particular city, emphasizing, among other things, management’s ability to walk the factory floor.”

The SEC agreed that Boeing it did not need to put Ryan’s proposal on its proxy statement, which was released Friday. Boeing told CNN it did not have any comment beyond those included in its filing to the agency.

Ryan said he believes his proposal — which would have allowed shareholders only to “recommend” a move back to Seattle, not mandate it — would have won had it been put up for a vote.

“That’s why I sent it in. I thought it would pass, and thought it would be a good idea,” he told CNN.

Speaking broadly, however, even shareholder proposals that are put to a vote are not likely to pass — especially recently.

According to Institutional Shareholder Services, which tracks shareholder votes, only 5.4% of votes held in 2023 on shareholder proposals received majority support. That’s down sharply from 12.6% in 2022, and 19.5% in 2021.

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From: Eric4/11/2024 2:29:54 PM
   of 3677

Have Boeing planes really had more problems lately? Look at the numbers

April 10, 2024 at 9:45 am Updated April 10, 2024 at 9:45 am

Alaska’s first MAX 9 flight since the blowout takes off from Seattle-Tacoma International Airport to San Diego International Airport, January 26, 2024. (Karen Ducey / The Seattle Times)

Paige Cornwell
Seattle Times staff reporter

Soon after a door piece blew out of an Alaska Airlines Boeing 737 MAX 9, travel website Kayak saw a spike in people using its aircraft filter — a way for travelers to include or exclude different models of planes when choosing their flights.

As news came out about the January incident, the number of users clicking to exclude Boeing 737s in their search results jumped fifteenfold from the month before, according to Kayak. Other incidents, like an older 737 with “stuck” rudder pedals in New Jersey in February or another 737 that rolled onto the grass after landing in Houston in March, for example, have added to Boeing’s woes — and likely kept Kayak’s filter usage higher than normal.

Experts say Boeing-averse passengers’ fears are understandable but largely unfounded. And data from the National Transportation Safety Board suggests the number of Boeing accidents and incidents involving passenger flights this year is in line with previous years going back at least a decade.

Aviation officials are quick to point out the overwhelming safety of flying. The FAA handles an average of 45,000 flights per day in the U.S. and nearly all take off and land without issue. Worldwide, the total accident rate in 2023 was one accident for every 1.26 million flights, the lowest rate in more than a decade, according to the trade group International Air Transportation Association. Last year, there were no fatal accidents involving passenger jet aircraft.....

The rest of the story:

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From: roto4/14/2024 1:17:45 AM
   of 3677
Boeing- China

Expansion project of Boeing's first joint venture in China begins operation
Source: Xinhua
Editor: huaxia
2024-04-13 21:22:30

An aerial drone photo taken on Nov. 30, 2023 shows a view of the Boeing Tianjin Composites Co., Ltd. in north China's Tianjin Municipality. The Phase III expansion project of the Boeing Tianjin Composites Co., Ltd., plane maker Boeing's first joint venture in China, was officially put into operation on Friday.

TIANJIN, April 13 (Xinhua) -- The Phase III expansion project of the Boeing Tianjin Composites Co., Ltd., plane maker Boeing's first joint venture in China, was officially put into operation on Friday.

The project is expected to double the production capacity of the Tianjin plant, according to Boeing. The expansion was launched in the original factory area in 2019.

With a total floor area of about 58,000 square meters, the new facility can also provide more space for the assembling work involving more high-end and complex parts.

"Boeing is very proud of the partnership that we have built with China over more than half a century," said Brendan Nelson, senior vice president of the Boeing Company and president of Boeing Global.

"We are committed to China for the next 50 years," said Nelson, adding that Boeing will continue cooperation in China in a wide range of fields, including composites manufacturing, research, training, completion and delivery center, and sustainability.

Established in 1999, Boeing Tianjin Composites Co., Ltd. is the largest production base of composite materials in the Boeing supply chain in China. Its products cover all Boeing aircraft models.

Since China received the first batch of Boeing 707 aircraft in 1973, Boeing has delivered more than 2,000 aircraft to Chinese customers. Meanwhile, more than 10,000 Boeing aircraft use parts and components are made in China. ¦

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From: Thomas M.4/24/2024 10:20:22 PM
1 Recommendation   of 3677
Finance-driven culture and DEI are killing Boeing.

Boeing is the flagship of U.S. airpower and aerospace. But in recent years, its planes have fallen out of the sky. Why?

Boeing is decaying due to succession failure in engineering and on the factory floor.

There are only two companies in the world capable of building and exporting the largest type of civilian aircraft, the "jumbo jet": Boeing and Europe's Airbus. Since 1992, Boeing has gone from enjoying 70% market share to falling behind Airbus in orders and manufacturing.

Manufacturing aircraft is very expensive and technically challenging.

Succession failure in the engineering offices caused the two fatal crashes, as Boeing ended up designing and then delivering planes that, essentially, were programmed to crash themselves during a particular set of circumstances. Which they then did, twice.

To date, nobody has been held responsible for the series of fatal errors. But that is because no error on its own was fatal, just the combination of them, which no engineer at Boeing recognized in time or had the authority to act on, if they did recognize it.

Boeing is not the same company it once was.

Its non-technical managers and executives favored new factories in South Carolina rather than its core Seattle factories, where experienced workers were unionized and more expensive.

It is headquartered in DC now, not Seattle.

The political ascendance of consultants and “MBAs” over engineers, both at Boeing and in the U.S. generally, means that engineers are unable to overrule the decisions of consultants or MBAs and are themselves rewarded for making decisions like an MBA rather than engineer.

What whistleblowers and regulatory audits describe at Boeing is a decline in industrial discipline, with basic norms and standards of competence, decorum, and work ethic falling.

This decline in discipline occurs when workers, technicians, and managers do not transfer their knowledge and skills. It is happening both because of circumventing old factories and workforces with brand new ones, but also because Boeing's workforce is aging. It has been a long time since manufacturing was seen as an attractive career path to American youth. In 2018, over a third of employees represented by Boeing's machinists' union were over the age of 55 years old.

Now, Boeing is rapidly diversifying its workforce. Minority hires are now 47.5% of new hires, up sharply from 37.2% in 2020. Only 29.9% of Boeing interns were white males in 2022. According to Boeing, they have fired 65 employees since 2020 for "behavior deemed to be racist or hateful." These are most likely older white male workers.

This rapid politically motivated change in Boeing's workforce implies that still more succession failure is happening right now.

Outsourcing, subcontracting, diversity policies, MBA-led decision-making, a focus on financial profits in low-margin heavy industry—these are all ultimately just different ways to accidentally cause succession failure, which in airplane manufacturing causes deaths!


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From: John Koligman4/29/2024 7:08:12 PM
   of 3677
Sad to see a company like BA having it's debt assigned a 'near junk' rating.

Boeing taps debt market to raise $10 billion: Reuters

The Boeing logo is displayed on a Boeing building on January 8, 2024 in El Segundo, California.
Mario Tama | Getty Images

Boeing on Monday tapped debt markets to raise $10 billion, after the U.S. planemaker burned $3.93 billion in free cash during the first quarter following slowing production of its best-selling jet, sources familiar with the matter said.

Boeing’s credit rating hovered above “junk” status last week from rating agencies as the planemaker tries to recover from a crisis that began in January after a midair blowout of a cabin panel door plug on a nearly new 737 MAX 9.

Investors and analysts have said Boeing could tap bond markets to get ahead of more than $12 billion in combined debt coming due in 2025 and 2026.

Credit rating agencies on Monday both assigned ratings nearing junk to Boeing’s new senior unsecured notes, with S&P assigning a BBB- rating and Moody’s assigning a Baa3 rating.

Moody’s said the rating reflects Boeing’s still-strong business profile, which continues to mitigate ongoing weak performance in commercial aircraft, although headwinds surrounding the division could persist through 2026.

Boeing will use the bond proceeds to increase its liquidity ahead of maturities on its existing debt load, including $4.3 billion in 2025, S&P wrote on Monday.

“It looks like it will go well,” said one of the sources, who was looking at buying the bonds, adding that he was told it was eight times oversubscribed.

The deal’s bookrunners leading the bond sale include Bank of America, Citi, JPMorgan and Wells Fargo, according to the deal’s term sheet.

Boeing declined to comment, but pointed to remarks from Chief Financial Officer Brian West during the company’s earnings last week in which he said Boeing was committed to managing its balance sheet in a prudent manner, with the goal of prioritizing its investment-grade rating and helping the factory and supply chain to stabilize.

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From: Thomas M.4/30/2024 7:48:09 PM
   of 3677
Missing emergency slide that fell off Delta flight found — washed up in front of house of lawyer whose firm is suing Boeing

The emergency slide that fell off a Delta flight departing from JFK Airport on Friday was found two days later — washed up in front of the beachside house of a lawyer whose firm happens to be suing Boeing over safety issues.

Jake Bissell-Linsk — a New York attorney whose firm filed a lawsuit against Boeing following the Alaska Airlines door blowout in January — told The Post he got a surprise on Sunday around noon when he looked out the window of his oceanfront home in Belle Harbor, Queens.

There — trapped on the rocks within feet of his front yard in a freak coincidence — was the emergency slide that fell off the Boeing 767 jetliner.

“We are right on the beach and I saw it was sitting on the breakers,” Bissell-Linsk told The Post.

While officials had been searching for the missing slide in Jamaica Bay since Friday afternoon, it turns out the slide was more far-flung than they expected — as Bissell-Linsk’s home faces the Atlantic Ocean.

Belle Harbor is located six miles southeast of JFK International Airport.

[continued ...]


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From: Thomas M.5/2/2024 10:35:01 PM
1 Recommendation   of 3677
A Second Boeing Whistleblower Has Died


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From: John Koligman5/6/2024 9:23:10 PM
   of 3677
FAA opens new probe into Boeing 787 inspections


A Boeing 787 Dreamliner sits on the tarmac at Boeing Field in Seattle, Washington.
Robert Sorbo | Reuters

The Federal Aviation Administration said on Monday it has opened an investigation into the Boeing 787 Dreamliner after the planemaker said some employees had committed “misconduct” by claiming some tests had been completed.

The FAA said it is investigating whether Boeing completed the inspections to confirm adequate bonding and grounding where the wings join the fuselage on certain 787 Dreamliner airplanes “and whether company employees may have falsified aircraft records.”

The agency said “at the same time, Boeing is reinspecting all 787 airplanes still within the production system and must also create a plan to address the in-service fleet.”

Boeing shares were down 1.5% at $177.03 late on Monday afternoon.

Asked for comment, Boeing provided an April 29 email from Scott Stocker, who leads the company’s 787 program, to employees in South Carolina where the 787 is assembled.

He added, “our engineering team has assessed that this misconduct did not create an immediate safety of flight issue.”

Boeing said in April it expects a slower increase in the production rate and deliveries of its 787 Dreamliner widebody jets as the company wrestles with supplier shortages “on a few key parts.”

A Boeing quality engineer recently criticized some of the manufacturing practices on the 787 and 777 widebody programs and testified last month before Congress.

The Justice Department is conducting a criminal investigation into a Jan. 5 mid-air emergency of a Boeing 737 Max 9.

The National Transportation Safety Board has said four key bolts appeared to be missing from the plane that had been delivered by Boeing months earlier. Boeing has said it believes required documents detailing the removal of the bolts were never created.

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